Tag Archives: Ocoee

Multiple Offers?, I thought this was a buyer’s market?

Sorry I haven’t had time to write any articles lately. I’ve been extremely busy with foreclosures representing both buyers and sellers. (Sellers being banks).

Investors and first time homebuyers are picking up all the deals it seems. Many agents that I’ve been speaking with in the Orlando area are telling me the same story, busy busy busy.

Last month, the Greater Orlando Association of Realtors President, Leslie Simmons, announced the bottom of the market. I would have to agree. Of course I refer to this area only, since real estate cycles are localized. The bottom of the market has come and gone in many parts of the country already. I do wonder about the rash of foreclosures that the government has stalled, (Freddie Mac and Fannie Mae.) Since they put a moritorium halting foreclosures on these government backed loans, I’m wondering since this has recently been lifted, if we’ll see any significant changes in our market.

Recently I’ve represented a bunch of buyers in all price ranges who’ve ran into bidding wars with the homes they’re interested in. It’s common now to have 5-10 offers in on one property at the same time. Banks are pricing aggresively and it seems buyers want the best deals. Good idea but do you have the stamina? One buyer had to put in 5 offers with me before he got one accepted. One offer was $20,000 higher than list price and this poor buyer still didn’t get it!

Since there are so many investors out there now snatching up the best deals before prices increase again, there are more buyers out there then ever with cash. Buyers with cash often win out over financed offers because the banks realize that more deals are falling through because of tighter lending restrictions.

I’ve taken a few bank owned foreclosure listings recently and have seen it from both sides of the real estate fence, representing buyers and sellers on these foreclosures so I can tell you that cash does talk. Sometimes when we’re lucky, we’ll find a house that no one else is interested in, make a decent offer and get it accepted.

Not too worry if you did miss out on the exact timing of the “bottom of the market”. Typically, the market rebounds at a much slower pace on the way back up.

Century 21 Open House Extravaganza – Win Free Gas!

This weekend, Oct. 6th and 7th, Century 21 is sponsoring a national Open House Weekend where registered guests can be eligable to win free gasoline for a year*

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I will be hosting an open house on a special home at 316 Sterling Lake Drive in Ocoee, located in the desirable Silver Glen Subdivion on Sun. Oct. 7th between 1-4 pm. The home is a 4 bedroom, 2 1/2 bath with formal living room and dining rooms, large kitchen  with breakfast bar and eat-in nook opens to a generously sized family room. There is a solar heated pool which is screened and a large covered lanai for hours of relaxation. This home is perfectly located on a large corner, tree shaded lot with a gorgeous manicured lawn. Silver Glen subdivision is easily accessable via the East West Expressway and Florida Turnpike. Located approx. 25 minutes north of Disney and 20 minutes to Universal Studios.  This home has been impeccably maintained and is better than new!, Whole house replumbed in 8/07! And the roof has been recently replaced with superior 50 year shingles! Hope to see you there!

Please vistit my real estate website at http:/www.MyOrlandoAgent.com foradditional information on this and other homes, more photos and a 360 degree virtual tour of this property. You may also schedule an advanced showing by calling me at the number below if you are unable to attend.

*Full details regarding gasoline giveaway will be available at the open house or you may call me at (407)877-7627, Scott Taylor, REALTOR,P.A., Century 21 Elite Properties