It wasn’t that long ago that Winter Park real estate, much like every other community in Central Florida, was declining at a rapid pace with no end in sight. That fast downward free fall has ended, whether buyers want to acknowledge it or not it’s real! Don’t get me wrong, we’re not back in the hey days of 2005 and the peak of the real estate market with over valued homes, but rather at the bottom looking up. So what’s the good news? We are not falling, especially in sought after Central Florida real estate markets like Winter Park.
It should come as no surprise that homes in prime real estate markets come back first, wthey were sought out in the past for a reason. Whether that’s award winning schools, great locations or beautiful settings, prime markets are seeing the kind of activity that we have not seen in five years. Don’t believe me, I like that, trust but verify…
As of this writing there are a whopping 6 bank owned single family homes for sale in Winter Park and 16 short sales. That’s a far cry from the high inventory of distressed properties we have seen the past 5 years. Real estate is still about supply and demand, sure not all buyers are in a situation where they can purchase, but ready, willing and able buyers and they are out there, are hunting down the last few great deals in Winter Park. I like the Warren Buffet quote, “Buy Fear Sell Greed”. There is still some fear in the market, just listen to the mainstream media, and the greed, well we know that’s in the past, and we learned!