Homes for sale in Orlando, Florida

Orlando homes hits new record in February 2022

carlos — Wed, 30 Mar 2022 12:00:50 +0000

The Florida real estate market remains hot. The Orlando area has set a new record, posting an average price for residential homes of $345,000 in February 2022, according to the Orlando Regional Realtors Association. The increase, of almost 3% compared to last month, shows that the uptrend remains. The main reason that supports this trend is the strong imbalance between supply (home inventory) and the expressive demand for this profile of property in Florida.

The year-on-year comparison further highlights the escalation in prices. In February 2021, the average price of residential homes in the so-called “Greater Orlando” region was $280,000. That is, an increase of more than 23% in one year.

The last record, before February, was reached in December 2021, when the average price of homes in Orlando hit $340,000.

The median price of a home in the Orlando area rose 2.99% from January to $345,000 in February, the Orlando Regional Realtor® Association said Tuesday.

Source: ORRA

Low inventory

The Orlando area residential home inventory, particularly single-family homes, remains very low.

The strong demand for residential homes in central Florida, compounded by new residents coming from other states, maintains the significant imbalance between supply and demand.

Construction companies are running out of time to launch new projects, but they are unable to cope with the strong demand.

Rising interest rates did not dampen demand

High prices and rising interest rates in the US have not dampened demand for real estate in the Orlando area. Even the Vacation Homes segment, that is, homes aimed at investors who want to earn income from rentals, are also experiencing an imbalance in the market. Occupancy Rate for this segment in Orlando is very high, what motivates international investors to buy Vacation Homes near Disney aiming for high expected returns.

On average, homes in Orlando spend just 30 days after being announced on the market for sale. In a normal market this period would be 6 months.

A total of 2,313 homes were on the market in February, down 2.77% from the previous month.

About AMG International Realty

AMG International Realty is a global real estate company specialized in Florida. If you want to know more about the opportunities in the real estate market in Orlando and Miami, contact me right now and chat with me by WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).

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International Homebuyers During The Pandemic

carlos — Fri, 30 Jul 2021 15:31:50 +0000

During the pandemic, many international homebuyers had trouble purchasing in the United States due to restrictions. However, more than 100,000 homes were bought by foreign buyers from April 2020 to March 2021. Buyers from neighboring countries made up the majority of international buyers. In fact, Canadians led with 8% of foreign purchases totaling $4.2 billions. Mexicans made up 7% of purchases totaling $2.9 billion. Chinese buyers also made up a big part of international homebuyers. They made up 6% of the sales, totaling $4.5 billion.

For foreign homebuyers during the pandemic, paying cash was the favored option. Florida was one of the biggest targets for these buyers. Other popular states include California, Texas, Arizona, and New York.

International purchases decreased during the pandemic because of several reasons. First, travel restrictions were a huge factor. In addition, there were also many economic impairments that weighed heavily on the market. However, now that restrictions have been eased and the economy is recovering, more international homebuyers are expected to enter the US housing market at full speed.

Read full article here

Looking to buy a home in the United States?

AMG International Realty is a global real estate firm specializing in Florida. If you are you looking to buy, rent, or sell in Miami we are here to guide you through every step of the way. That is, from mortgage applications, to finding your dream home and closing the deal. We can make the process of selling or buying your home as smooth as possible. Contact us today!

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Backup Offers: All You Need To Know

carlos — Mon, 26 Jul 2021 12:09:52 +0000

When buying or selling real estate, the property isn’t officially sold until the closing. A lot of times, sellers are advised to keep their options open by accepting backup offers. In short, a backup contract is one that would take the place of the original buyer should the deal fall through. Although not everyone loves backup offers, it is important to know about them in order to learn your options.

Oftentimes, sells fall through for different reasons. Perhaps the appraisal was not what was expected, or maybe the buyer did not get the financing needed. For whatever reason, having a sale fall through is quite inconvenient. In these cases, having backup offers could be a great safety-net.

Sellers cannot accept other contracts while one is active, but they can talk to other buyers and let them know that they are in a secondary position. A lot of times, this puts sellers in a stronger position and allows them to have more options if the original buyer backs out.

About 20% of sales fall through, and although it might seem like bad odds for buyers, sometimes putting in a backup offer can result in them getting the house. However, most of the times the original buyer will get the home. And if not, buyers who placed the backup offers might have to be very patient.

If you are planning on making backup offers or accepting them, it is crucial that you are guided properly through the process by a licensed real estate professional. In addition, having a lawyer help you out is also extremely recommended. This way, both sellers and buyers will be protected.

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Buying in a Seller’s Market: 3 Contingencies You Should Not Remove

carlos — Sun, 25 Jul 2021 11:15:31 +0000

Right now, the market is very competitive for buyers. In fact, national inventory of active listings is down over 40% YoY. This spike in demand means that buyers are going above and beyond to standout. From raising offers, to removing contingencies. Contingencies are conditions that must be met in order for the deal to be finalized. They are very important. That is why, if you are buying in a seller’s market, you need to be careful about removing these three contingencies:

1. The Inspection

A home inspection is essentially the step where most contingencies are built. That is why you should never skip it. A home inspection allows buyers to see if a home has any issues that need to be fixed. This is important to ensure that you get the best deal. Regardless of if you are buying in a seller’s market or not, skipping this step is a mistake.

2. Mold Remediation

If on the initial home inspection it turns out that the property has mold, it is crucial to bring in a mold specialist. If a home has a mold problem, it could potentially cause health problems. No matter how competitive the market is, if a home has mold, it is imperative to get it taken care of. Mold can get worse over time, and it can become very expensive to remediate. Therefore, this is a contingency that should not be overlooked.

3. Well Water/Septic System Inspection

When you purchase a property, you will be drinking and bathing in the water provided from it. Therefore, it is very important to conduct an inspection in order to make sure everything in that area is good. This is another issue that could be very expensive to remediate.

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1. The Inspection

2. Mold Remediation

3. Well Water/Septic System Inspection

Read full article here

Buying in a seller’s market?

Let us help you!

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Selling a Home? Here’s 4 Things You Should Know

carlos — Wed, 21 Jul 2021 17:23:05 +0000

Right now, the housing market is completely different than it was a year ago. In fact, because of lower mortgage rates and tight inventory, homes are getting snapped up relatively fast. Therefore, right now it is a seller’s market. Although that is great news if you are selling a home, you should still keep some things in mind. Here are 5 things you should know if you are currently trying to sell your property:

Covid-19 and the Housing Market

The pandemic changed a lot of things in the world. The dynamics in real estate were certainly no exception. For one, lockdowns made people reconsider their current living situations and encouraged many to move. A lot of people are now looking for bigger homes that can better accomodate their needs.

In addition, remote working also encouraged people to look for homes with features like home offices and home gyms. If you are selling a home, keep this in mind and try to optimize all the spaces in your property so that they are more appealing to potential buyers.

Home Inventory is Low

Because the pandemic spiked demand, right now the housing inventory is pretty low. Therefore, the market is extremely competitive for buyers. This is a good thing for sellers because it means that more people are going to be interested in the home you are selling. The historically low inventory levels have been fueling bidding wars and has led to properties going under contract very fast. Therefore, if you are selling your home, keep this in mind and be ready to move pretty fast once you list the property.

Prices are High

Because demand is high and inventory is low, prices are going up. Therefore, right now is a great time to sell if you’ve been thinking about it. Because competition is so tight, many buyers are making offers that are above the listing price.

Interest Rates are Still Low

Ever since the pandemic started, interest rates have been low. Although they have risen ever since, they still remain very attractive. Although the cost of homes is higher, low interest rates are still a huge incentive for buyers.

This is a good thing to keep in mind as a seller, because if you are selling a home, it likely means that you might have to move into another one. Therefore, knowing that you can sell your home for a high price and get a mortgage with a low interest rate is beneficial if you are on the fence of selling right now.

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It Is Hurricane Season- This Is What We Know About Tropical Storm Elsa

carlos — Sun, 11 Jul 2021 15:32:27 +0000

We are diving into another hurricane season here in South Florida. Therefore, it is important to stay informed and know how to be prepared. Recently, it was stated that a tropical storm called “Elsa” might hit South Florida.

“Elsa” has already caused a tropical storm warning in the Florida Keys. As for South Florida, the forecast is that Elsa could bring heavy rain and gusty winds. Being prepared in case it becomes more intense is a good idea. However, as of now, South Florida residents should only expect a tropical storm. During hurricane season, a tropical storm could bring very heavy rains and storm surges of 1 to 3 feet.

Last week, Elsa was considered a Category 1 hurricane. However, it has downgraded to a tropical storm since.

To make sure you are prepared for any changes, you can track the storm. This way, you can get the necessary supplies you’ll need in case you are unable to leave when Elsa hits.

About AMG International Realty

AMG International Realty is a global real estate firm specializing in Florida. If you are looking to buy, rent, or sell in Miami we are here to guide you through every step of the way. From mortgage applications, to finding your dream home and closing the deal. In addition, if you are new to town, we can give you tips on how to navigate Florida during a hurricane season.

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Best neighborhoods in Orlando to live, raise a family or invest

carlos — Sun, 04 Jul 2021 16:45:02 +0000

Find out what are the best neighborhoods in Orlando to buy homes, either to raise a family or to invest and make money through short term rent. These nice neighborhoods in Orlando are not listed in “best to worst” order, but from north to south on the map, starting at Winter Park and ending at Lake Nona (to the southeast). Many of the names listed below are not exactly neighborhoods of the city of Orlando, but cities and communities nearby. References to some of these cities may be as “neighborhoods”, as they are all very close and many belong to the region called “Greater Orlando” (Metropolitan Orlando Region).

When reading about the Orlando neighborhoods listed in this article, you will understand that the city and the surrounding region is much more than the tourist center of the parks. Many of the communities listed here are small, charming towns in central Florida. Some of them are little known to tourists and offer excellent quality of life, preserving the peaceful atmosphere and local culture.

Winter Park

Winter Park is a very charming and peaceful city nearby Orlando (30 minutes by car). Still little known by tourists, the city preserves the local characteristics and culture of a small town in central Florida. Wide, tree-lined streets, shops and local shops are an invitation for those who want to experience Orlando beyond the parks. Winter Park also offers a wide variety of restaurants, pastry shops, cafes, a chocolate factory and the famous The Wine Room, for wine lovers! Recently the city has been rivaling other Orlando neighborhoods offering great condos for sale.

Winter Garden

Winter Garden is a city west of Orlando, about 20 km away. It offers excellent quality of life and is famous for its shopping center with preserved historic architecture. The city has been attracting Brazilians and foreigners in search of homes in Orlando to live in, as it offers excellent quality of life, good schools and attractive prices.

Metrowest – Best neighborhoods in Orlando

Metrowest in Orlando is a neighborhood that was conceived and planned in the early 1980s. As in many parts of Orange County, the county where the neighborhood is located, the area was occupied by orange and citrus farms. One of Metrowest’s characteristics is its enviable landscaping and tree-lined avenues.

Metrowest is very close to downtown Orlando and offers great restaurants, shops, banks, good schools, golf courses and proximity to Universal Studios and Island of Adventure. All of this surrounded by a rich nature characteristic of the region, with forests and lakes.

Windermere – nice neighborhood near Orlando

Windermere is a village close to the city of Orlando, in Orange County. It is an oasis in the middle of “Greater Orlando”. The city is extremely charming and still has that bucolic small town atmosphere. Also known as “City between lakes”, it is part of the Butler Chain of Lakes. The entire region is a collection of lakes where the famous Lake Butler is located in the center, which connects to 10 other smaller lakes. Windermere attracted the attention of investors and celebrities, who started to buy houses of the highest standard by the lake. In addition to the exuberant nature, Windermere offers excellent quality of life: safety and good schools are some of the characteristics that make this place one of the most valued in Orange County.

Doctor Phillips – One of the best neighborhoods in Orlando

Orlando’s Doctor Phillips neighborhood is known for its safety, good schools and location. The condominiums of houses in Doctor Phillips are very popular mainly for those who want to settle in Orlando.

Photo: Google Street

Hunters Creek – Best neighborhoods in Orlando

Hunters Creek was once considered the 21st best place in the USA to live! In addition to being privilegedly located (close to the parks), the region is one of the safest in Florida, with great schools, restaurants, shopping malls and supermarkets. Many Brazilians are looking for Hunters Creek to live in, as the neighborhood is more residential and quiet.

Celebration

Celebration is a community in the city of Kissimmee, designed and planned following the ideals of Walt Disney, for a modern and perfect city. In fact, everything in Celebration is very organized and well maintained. It looks more like a cinematic scenario. The rules for housing are strict (don’t let your grass grow too much or you will be fined) and expensive houses. Many celebrities own homes in the region. It offers one of the best life qualities in Florida.

Kissimmee

Kissimmee belongs to Osceola County, south of Orlando. It is a city much sought after by investors, aiming for profits with short-term rentals, via vacation homes. Because it is located close to Disney parks, homes in Kissimmee are very popular with tourists for vacation rentals. Buying a house in Kissimmee is, therefore, a great investment for anyone looking for a vacation home. This way, you can use it on vacation and rent it for the rest of the year, earning income in dollars.

Lake Nona

Lake Nona is a planned community within Orlando, also known as the Medical City for being a health reference in the region. The neighborhood has been attracting investors because it is in rapid development and offers great potential for appreciation. It is a little more secluded and reserved, towards the east. It is closest to Orlando International Airport. As it is closer to the east coast, the nearest beach is only 30 minutes away.

About AMG Realty

Searching Orlando homes for sale? AMG International is a Florida Luxury Real Estate Firm specialized in Orlando and Miami. Call us now and find your property today.

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Dr. Phillips: Discover the neighborhood

carlos — Fri, 02 Jul 2021 14:36:02 +0000

The Dr. Phillips neighborhood in Orlando, which was already considered one of the best neighborhoods to live in, has gained even more prominence in recent years. Its tranquil, family-oriented environment, bucolic atmosphere with tree-lined streets, tropical nature enhanced by the Butler Chain of Lakes chain of lakes, excellent schools and many other features, make this central Florida refuge one of the most sought after to take up residence in the actuality.

The location is another big difference in the neighborhood. Dr. Phillips is next to the famous Restaurant Row, a cluster of restaurants of the most different brands, from casual dining to restaurants gourmets. Orlando International Airport is only 20 minutes away by car. Disney parks are right there, 19 minutes away. While being reserved and protected in a more residential atmosphere, it allows easy and quick commuting to other areas, whether for work or city attractions, as it is only 10 minutes away from the two main highways in Central Florida: I -4 and Florida Turnpike.

And for those who enjoy boating, Dr. Phillips is not lacking, even for those who are in doubt between buy in Miami or Orlando. Dr. Phillips is part of the famous Butler Chain of Lakes, a wonderful chain of navigable lakes and clean, connected by rivers, overflowing with natural beauty and tropicalism. How about buying a large lakefront home and enjoying this lifestyle to the fullest?

But you don’t need to own a lakefront property or live facing a golf course to enjoy all that Dr. Phillips has to offer. Orange County Athletes Association members have access to the Lake Sheen swim area, speedboat, fishing dock and outdoor pavilions. The “day-pass” offers a fun and practical alternative to enjoying the region’s vacation amenities and is also available to award-winning golf courses and hotels.

Bucolic neighborhoods, traditional and full of history

From the early 1920s until the development of Walt Disney World in the late 1960s, Dr Phillips’ area was defined for its thousands of acres of citrus groves. Orlando Magazine reports that long-time residents of the neighborhood remember with fondness and nostalgia the heady scent of orange blossoms pervades the air each spring.

In recent years, the Central Florida region has been in great demand, especially by Americans from other states seeking larger homes in less densely populated regions. The Dr. Phillips neighborhood has benefited from this demand, as it offers large homes on spacious lots with generous outdoor space.

New investments in Dr. Phillips

The area where the Dr. Phillips neighborhood is located expects to receive substantial investments in the near future, which projects a considerable upside potential for those thinking of investing in the region’s real estate market. It is estimated that an area of more than 350 acres in the neighborhood will receive new commercial and residential properties, as well as new entertainment, shopping and dining complexes.

Recently the famous White Castle chain, the oldest hamburger in the US, opened one of its largest units at The Village at O-Town West entertainment complex. It is expected that other chains of restaurants and various services will open units in the complex and surrounding areas. This is a strong sign that the region is thriving.

Central Florida is no longer just an international tourist destination

Central Florida, especially the Orlando area and surrounding cities, has left of being a purely tourist region. Central Florida has long been sought after by families looking to settle down. Demand is also great on account of Americans coming from other states. In the corporate environment, the movement also exists. Several companies from other states, from the most varied sectors, are migrating their operations to Florida in search of a more friendly tax and corporate environment and also a better quality of life for their employees and collaborators.

Contrary to what most people think, Orlando goes far beyond amusement parks. It’s a place where people can live, thrive and enjoy a quality of life that few regions in the world offer.

Want to know more about Dr. Phillips and other interesting neighborhoods in Orlando?

AMG International Realty is a global real estate company specializing in Florida. If you want to learn more about opportunities in Orlando, Miami and suburban areas around the big cities, get in touch right now and chat with me through WhatsApp: +55 11 98111-2555 (Carlos Barros).

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These Luxury Home Features Became Pandemic Must-Haves

carlos — Wed, 23 Jun 2021 10:09:36 +0000

The Covid-19 pandemic generated a lot of trends in pretty much every industry. Consequently, there were trends that emerged in real estate. Collectively, people spent a lot more time at home, and therefore realized their needs for certain home features. Because people spent a lot more time cooking, eating, and cleaning, some kitchen features became must-haves. Furthermore, some bathroom features also became very popular. In fact, there was an increase of demand in some luxury home features, becoming a factor affecting home sales.

In a recent report, Zillow analyzed the price associated with certain luxury home features. For this, the company looked at closed home sales in the US in 2019 and 2020. From this, they determined that six out of the ten top features mentioned in listings that sold for more than expected were kitchen and bathroom related.

For example, listings that mentioned steam ovens sold for 4.9% more than expected. Similarly, listings that mentioned new appliances sold for 3.2% more than expected. Other features that caused the sales price to increase include Curbless shower (3.6%), pizza oven (3.4%), heated floor (3.2%), and more.

Although adding luxury home features like these had correlation with higher sales price, these features do not guarantee or cause a sale price to increase.

For the full list of features found in the story, check out the original article here

Rendering: Jade Signature Kitchen – New Construction Sunny Isles Beach

Interested in learning about real estate opportunities in South Florida?

AMG International Realty is a global real estate firm specializing in Florida. If you are you looking to buy, rent, or sell in Miami we are here to guide you through every step of the way. From mortgage applications, to finding your dream home and closing the deal. Contact us today!

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Another Major New York Firm Is Moving To West Palm Beach

carlos — Sun, 20 Jun 2021 19:40:45 +0000

Goldman Sachs might be planning to move over 100 employees to Florida. The banking giant is talking about moving to West Palm Beach.

Right now, there has been a huge influx of New York businesses that have moved to Florida. This is because South Florida is growing tremendously, and there is a lot of opportunity.

If Goldman Sachs executes the move, it would reinforce the trend that many finance firms are following. Recently, other important business giants have landed in the Magic City. For example, Thoma Bravo from Chicago, Point72 Asset Management from New York.

South Florida is full of beautiful places to live and work. It is certainly no surprise that the banking giant is looking into moving to West Palm Beach. In fact, last month they were close to signing a lease in downtown West Palm.

West Palm Beach

Interested in moving to West Palm Beach?

AMG International Realty is a global real estate firm specializing in Florida. In addition, we are a full service agency ready to help you through every step of your investment. If you are you looking to buy, rent, or sell in South Florida, we are here to guide you through every step of the way. From mortgage applications, to finding your dream home and closing the deal. If you are interested in learning about all the opportunities within the South Florida and Orlando real estate markets, contact us today!

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