That time of the year is upon us! Jazz Fest is here and you do not want to miss out on what looks to be the best one yet. We're looking at three stages of entertainment, as well as all of your favorite College Park vendors setting up shop all along Edgewater Drive. Of course, we'll have a table set up as well, so bring your family on by to meet ours. We'd love to see you!
The Orlando City Council unanimously approved a $94.5 million funding plantowards building up the Dr. Phillips Center for Performing Arts, the Florida Citrus Bowl, and a proposed Orlando soccer stadium, much to the delight of purple-clad Orlando City Soccer supporters.
The unfortunate government shutdown will affect people all across the nation in various ways. We’ve gotten inquiries from those concerned parties who are trying to conduct real estate transactions, which can already be a difficult and time-consuming process, as to how the government shutdown will affect them. Our friends at realtor.org have already compiled a handy guide to how the organizations with the closest ties to real estate are going to handle the shutdown, and we’d like to share some of that information with you all.
Florida is on the path to recovery, and it's beginning to catch notice. Forbes magazine has elevated Florida up five spots from last year on its annual Best States for Business list to rank 22, showcasing the economic improvement over the last several months.
We've been reporting on the monthly price rises in the Orlando home market in recent times, but sometimes it's good to take a look over how far the market has come in even just a year's time. The Orlando Regional Realtor Assocation agrees with us, because they just produced figures showing how existing single-family home sales have risen 29 percent since August 2012.
As home prices rose over the course of the last quarter, so too did the equity of 2.5 million homes. CoreLogic announced in their second quarter equity report that the amount of underwater homes fell from 9.6 million in the first quarter to 7.1 million.
Buoyed by a strong increase in interest from international buyers, vacation home seekers, investors, and others, Florida has seen an incredible surge in cash-only home sales. In fact, Florida led the nation in July with a staggering 66 percent of sales closed with all-cash deals.
The Orlando Sentinel reports that condo prices in the metropolitan Orlando area have doubled in the last three years. In 2010, median prices for units were listed as $50,400, and were some of the cheapest you could find in the state. However, Florida Realtors stated on Wednesday that now, median prices had risen to $104,000 and were expected to continue the trend.
It seems as though the dream of the white picket fenced home is still a cornerstone of American society. Home ownership remains a highly desirable goal for Americans despite the effects of the housing crisis, reports early research by the Havard University's Joint Center for Housing Studies.
Already ranked within the top 50 of the 102 major metropolitan areas in the U.S., Orlando continued it's upward climb to the number 40 spot in the July edition of the On Numbers Economic Index.