Central Florida Real Estate 360 – Keeping You In The Know

Elegance at its finest!  It all begins upon arrival at this spectacular custom home on one acre with its circular paver driveway and custom landscape package.  This home is perfect for entertaining and family enjoyment with it’s split floor plan, spacious living areas, large bedrooms and over 500 sq.ft. lanai stubbed out for future summer kitchen.  This home features custom wood window sills, 8’ doors, 5 1/4” base boards, stainless steel appliances, fireplace, tile floors throughout main living areas, hardwood floors in office/study or 5^th bedroom and crown molding in master bedroom, living room, kitchen and family room areas along with granite counter tops in kitchen and all 3.5 baths.  Come live in beautiful River Crest and enjoy this 24 hr manned gated community with its park, tennis courts and community dock along the Wekiva River.  Live just minutes from fine dining, shopping and entertainment with nearby Seminole Town Center mall,  walking/bike trails, state-of-the-art equestrian center, soccer facilities and one of the finest parks in Seminole County, Sylvan Lake Park. Easy access to all of Central Florida with nearby I-4 & the 417.  CLICK HERE for more information.

The Central Florida real estate market drops again in median sales price which is making home ownership more affordable.  According to the Orlando Regional Realtor Association (ORRA), November 2008 sales posted about 47 more sales than November 2007.  We saw a fifth month in a row increase in the number of listings that are now ‘Pending’ which represents over 84% more homes under contract in November 2008 than in November 2007.  We are continuing to close the gap on 2008 year-to-date sales compared to 2007 year-to-date sales.

This was three months in a row were we also showed another small drop in the number of homes on the market in November 2008 than in October 2008.  We are currently at 24,408 homes for sale in November 2008 compared to 24,657 homes for sale in October 2008.  Single family homes make up 17,859 of the 24, 408 while the remaining numbers are comprised of condos, duplexes, town homes and villas.

Interest rates dropped again and are still historically low.  Within one month, we dropped nearly 5% in our median home price from $175,650 in October 2008 compared to $167,025 in November 2008.  Overall, we’ve dropped almost 29% from last November 2007 in median home prices.  Click Here to visit ORRA’s web site for more stats.