The greater Orlando area is seeing a reduction in inventory which is helping to drive prices somewhat higher. The median home price right now has exceeded $150,000 for the first time since 2008. The month of June is showing an increase of 22.4% when compared to June of last year. According to the Orlando Regional Realtors Association “As more homeowners are recognizing that now is a great time to sell and are adding their homes to the inventory, we’re shifting from a market dominated by lower-priced distressed sales to one dominated by higher-priced normal sales”. What we’re seeing happen is good deals last only a few days in this Central Florida Real Estate Market. In spite of this, we’re having tremendous success getting our clients offers accepted. We’re winning in these bidding wars because our clients trust us and are prepared. The formula for success is being prepared to strike quickly which all our clients are. Our clients receive daily email updates with new properties as they come on the market. In many cases, we’re showing houses the very day the properties are listed for sale and then when our client gives the green light we craft offers quickly that are accepted. All our clients have their pre-approval letters so there’s no waiting on a lender when submitting an offer. Most importantly we work with our clients to submit strong offers that are clean and devoid of contingencies. In todays market, you need to make aggressively priced offers with short inspection periods, strong deposits, and no contingencies like asking the seller to contribute 3% towards closing costs. The days of that market are gone unless you’re going after a home that’s been on the market so long its considered stale. Most people would be surprised to see how effective removing contingencies are and simply reducing the price. When you don’t have a bunch of things to negotiate back and forth over, it makes the negotiation process quicker which means getting your offer accepted before the competition gets a chance to get in the game. For more information on how we’re getting real estate offers accepted in the Central Florida area, please don’t hesitate to contact us today.
