07-22-2011 09:33 AM
Do your research Orlando is just like any other metro area, you usually get what you pay for. Personally, I live in Orlando and you could not pay me enough money to live in Kissimmee.
07-22-2011 12:14 PM
thanks for your answer... If you're not coming from florida and you want to invest there, you have to no wich area is nice... Is only Orlando nice in florida?? I quess there are many more areas to invest and have a nice place there. Maybe its nice to informed us more. about kissimee, there are enough nice areas there, lot of spanish people, the prices are cheap because the economy has fall down..??
07-23-2011 07:19 PM
The real estate market took a real dive, especially in Florida. Homes were bought by individuals who for one reason or another could not keep up with their mortgage payments, so as a result, many, many of the homes in Orlando and throughout Florida are in "shore sale" or "foreclosure." Mortgage lenders lent money to buyers who could not keep up their payments....all part of the recession we are experiencing. So, it's a "buyer's market" in Florida.
07-23-2011 07:39 PM
No offense, but it's not a buyer's market like everybody says. Banks taking 6-8 months to look at short sales is rediculous. The fact is, the banks have already received their obama money. They don't have to hurry to clear homes off of their books. Sad thing is the banks are already doing everything wrong again. Loaning money to refinance to people who couldn't afford the houses in the first place. Another obama failure.
Anything that is decent and priced right is selling in less than a week and the offers are over asking. In less than a month, I've made offers on 4 REO houses. My offers have been as much as 11k over asking and I still don't have a home.
07-24-2011 07:52 AM
What is a REO house?? And if you have to wait so long a pay more for a 'shortsale' why you dont buy a foreclosure?? Can somebody tell me all the differents. because is not easy from a outsider to buy in florida. I also want to know where the best place is to invest (to rent-out later), and the best place for a holiday-house.
if you invest and you rent-out it later, is it better to take a condo or a familyhome??
07-26-2011 04:04 PM
Cuz the market when down, i bought a house for 215,000 the builder was asking for 254.000, now they are selling those houses for 170,000, but you found houses in the area with pool in the 80 and 90's
07-26-2011 04:42 PM
I have been watching this message thread with interest, but let me chime in now. Kissimmee is really no different than any other area. Yes there are areas that have become rundown because of foreclosures creating empty homes. Then there are also vibrant areas that have not been affected as much. As a past native New Yorker I will say this; the rate of appreciation here in Central Florida is a lot less than any other area simply because of the availability of raw land. In New York City, as well as many organized metropolitan areas, the only way to build something new is to tear something down first. Kissimmee, like many other rural/suburban areas has a lot of virgin land to build on.
Yes there have been many foreclosures in the Kissimmee area, which has brought prices down, because people were enticed to buy homes or refinance existing mortgages to tap into equity when they should not have done so in the first place. Low payment mortgages that escalated in payments over time were very popular and the mantra with many lenders was, "don't worry, you can refinance later". However later never came when the rates when up, because the property value was not there to refinance.
All in all there is no quick answer, however I will say that Kissimmee is NOT the only one area affected this way. Nor should it dissuade you from making an offer if everything else works for you.
That, is my professional answer!