Orlando Vacation Villa For Sale in Terra Verde Resort
105 Pompano Beach Dr
Looking for the ideal location and resort amenities without the costly CDD? Then you are looking at the right place. Minutes from Old Town, Disney and Hwy 192 with its abundance of restaurants and stores. This well maintained 3/2.5 town home could be what you are looking for. Located within walking distance of the clubhouse, this home will suit someone looking for a second home, investment or family home. This nicely furnished property has lots to offer its new owner. The kitchen overlooks the front of the home and has lots of cabinet and counter space. Adjoining the kitchen is the dining room/great room with access to your private lanai complete with your own hot tub. All bedrooms are upstairs. This desirable man-gated resort community has something for everyone. Amenities include club house with fitness center, lounge area and theatre room. Outdoor activities include beach entry resort pool, basket ball, shuffleboard, mini golf, children’s play area and tiki bar alongside the pool. What more can you ask for? Enjoy the Florida lifetstyle.
There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:
“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”
With home prices rising, many renters are concerned about their house-buying power. Mark Fleming, Chief Economist at First American, explained:
“Over the last three years, renter house-buying power has increased fast enough to keep pace with house price appreciation, so the share of homes that a renter can afford to buy has remained the same since 2015.
Although mortgage rates are expected to rise, they are still low by historic standards, and real household incomes are the highest they have ever been. Assuming this trend continues, our measure of affordability, which takes into account income, interest rates, and house prices, indicates that homeownership is still within reach for renters.”
As an owner, your mortgage payment is a form of ‘forced savings’ which allows you to build equity in your home that you can tap into later in life. As a renter, you guarantee the landlord is the person building that equity.
Interest rates are still at historic lows, making it one of the best times to secure a mortgage and make a move into your dream home. Freddie Mac’s latest report shows that rates across the country were at 4.51% last week.
Fla.’s home sales, new listings, median prices up in July
ORLANDO, Fla. – Aug. 22, 2018 – Florida’s housing market reported more sales, rising median prices and more new listingsin July compared to a year ago, though for-sale inventory remains constrained in many markets, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 25,488 last month, up 3.8 percent compared to July 2017.
“In a positive sign for Florida’s housing market and potential buyers, we saw a modest increase in new listings in July,” says 2018 Florida Realtors President Christine Hansen, broker-owner with Century 21 Hansen Realty in Fort Lauderdale. “New listings for existing single-family homes rose 3.1 percent compared to a year ago and new listings for condo-townhouse properties increased 2 percent from last July. Meanwhile, home sellers received more of their original asking price at the closing table. Sellers of existing single-family homes received 96.7 percent (median percentage) of their original listing price, while those selling condo-townhouse properties received 95.3 percent (median percentage).”
July was the 79th month in a row that the statewide median sales prices for both single-family homes and condo-townhouse properties rose year-over-year. The statewide median sales price for single-family existing homes was $255,000, up 6.3 percent from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. The statewide median price for condo-townhouse units in July was $180,000, up 5.3 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.
According to the National Association of Realtors® (NAR), the national median sales price for existing single-family homesin June 2018 was $279,300, up 5.2 percent from the previous year; the national median existing condo price was $258,100. In California, the statewide median sales price for single-family existing homes in June was $602,760; in Massachusetts, it was $430,000; in Maryland, it was $313,254; and in New York, it was $280,000.
Looking at Florida’s condo-townhouse market, statewide closed sales totaled 10,032 last month, up 8.5 percent compared to a year ago. Closed sales data reflected dwindling short sales and foreclosures in July: Short sales for condo-townhouse properties dropped 33 percent and foreclosures fell 26.5 percent year-to-year; while short sales for single-family homes declined 41.6 percent and foreclosures fell 38.3 percent year-to-year. Closed sales may occur from 30- to 90-plus days after sales contracts are written.
“We are continuing to see signs that the low-inventory situation impacting the single-family home market has finally stopped getting worse, though it remains constrained,” says Florida Realtors Chief Economist Dr. Brad O’Connor. “As of the end of July, there were 3.9-months’ supply of single-family inventory in Florida, marking the third straight month where there was no year-over-year change in this metric. We’re still squarely in seller’s market territory, though, and we’re going to need new single-family construction to ramp up even more.
“Half of Florida’s 4.3 million millennials are now in their thirties, and while their employment opportunities have improved drastically in recent years, the state’s housing shortage is locking them out of their best opportunity to build lasting wealth during their prime working years. In the short run, their best bet may be to consider ownership of a multifamily unit like a condo or townhouse, where inventory levels are not nearly as tight in most areas around the state. Statewide, there’s currently a 5.3-months’ supply in the condo-townhouse category, indicating a much more balanced market than what we have with single-family homes.”
According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 4.53 percent in July 2018, up from the 3.97 percent averaged during the same month a year earlier.
To see the full statewide housing activity reports, go to Florida Realtors Research & Statistics section on floridarealtors.org. Realtors also have access to local market stats (password protected) on Florida Realtors website.
One of the best lots in the whole community. Plenty of space on all sides of the home and right across the street from the playground. This luxurious 4 bedroom villa has so much to offer and as soon as you walk in through the front door you will feel right at home. This property offers a feeling of luxury and space and boasts of 4 bedrooms with large spacious rooms throughout. This villa is located in the Community of Silver Creek only 10 mins to Disney. As soon as you step outside the rear, you will be welcomed by the spacious heated pool and spa and large deck area, ideal for sunbathing the day away on this oversized lot. Owner bookings may convey as well if desired.
Fannie Mae: Optimism to Buy a Home or Sell a Home May Have Peaked
The optimism convincing you to Buy a Home in Orlando may have peaked. Some may say now is the time, some may say it’s not. We believe if you are equipped with the right knowledge in order to Buy a Home, it will be the right investment decision for you. Perhaps you are not looking to buy a home but are looking to sell your home near Disney. Orlando is one of the most visited destinations and we want to help you sell your home!!
WASHINGTON – Aug. 8, 2018 – The Fannie Mae Home Purchase Sentiment Index (HPSI) fell in July for the second consecutive month, dropping 4.2 points to 86.5, after reaching survey highs in April and May.
Four out of six HPSI components declined.
The net share of survey respondents who said now is a good time to buy a home fell 4 percentage points, and the net share who said it is a good time to sell a home fell 6 percentage points. Additionally, the net share who said that home prices will go up in the next 12 months decreased 7 percentage points.
More Americans also expressed a decreased sense of job security, with the net share who said they are not concerned about losing their job falling 11 percentage points in July.
“Home purchase sentiment seems to have reached a plateau, with potential home sellers likely struggling to find a home to buy amid slow supply growth, expectations for rising mortgage rates, and significant home price increases,” says Doug Duncan, senior vice president and chief economist at Fannie Mae.
“Survey respondents cite ‘high home prices’ as the top reason why it is both a good time to sell a home and bad time to buy a home,” he adds. “This suggests a contributing factor to the low supply of existing homes for sale is that current owners are reluctant to trade up in a rising price market. Additionally, the shares of consumers citing favorable mortgage rates as a reason why it’s a good time to buy or sell a home both dropped to fresh survey lows.”
Home Purchase Sentiment Index snapshot
Fannie Mae’s 2018 Home Purchase Sentiment Index (HPSI) decreased in July by 4.2 points to 86.5. The HPSI is down 0.3 points compared with the same time last year.
The net share of Americans who say it’s a good time to buy a home fell 4 percentage points from last month to 24 percent.
The net share of those who say it’s a good time to sell fell 6 percentage points from last month’s survey high to 41 percent.
The net share of those who say home prices will go up fell 7 percentage points to 39 percent, falling under 40 percent for the first time since December 2016.
The net share of Americans who say mortgage rates will go down over the next 12 months rose 1 percentage point to 52 percent.
The net share of Americans who say they are not concerned about losing their job fell 11 percentage points from last month to 65 percent.
The net share of those who say their household income is significantly higher than it was 12 months ago rose 2 percentage points to 21 percent, matching the survey high from May 2018.
Are you ready to Buy a Home in Orlando and move into your Dream Home? Are you are interested inlooking to purchase the perfect Vacation Home in Orlando? Well, now is your time! Orlando is one of the most visited destinations for travelers from all over. Your Disney Vacation Home can be the perfect spot to vacation to and invest in. Contact one of our ProfessionalAgents today to help you make an educated decision on your future investment!
