Real Estate Information

The Central Florida Real estate Market Update on March 14th, 2012

Sales

*Orlando home sales (all home types combined) in February 2012 were down 15.19 percent over February 2011.

*Single-family home sales in the Orlando area decreased by 2.82 percent in February when compared to February of last year. Condo sales decreased by 34.27 percent; duplex, town home, and villa sales decreased by 27.31 percent.

*Of the 1,854 sales in February, 738 "normal” sales accounted for 39.81 percent of all sales, while 498 bank-owned and 618 short sales respectively made up 26.86 percent and 37.98 percent.

*The number of "normal” sales in February increased by 29.02 percent over February 2011, while short-sales increased 20.00 percent and foreclosures dropped 54.02 percent.

*The 9,348 homes pending closing in February of this year is an increase of 1.37 percent compared to the 9,223 pendings in February of last year.

*Short sales made up 69.84 percent of pendings in February. Normal properties accounted for 17.02 percent and bank-owned properties accounted for 13.14 percent.

*Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in February were down by 14.20 percent when compared to February of 2011. Each individual county’s monthly sales comparisons are as follows:

• Lake: 17.14 percent above February 2011 (369 homes sold in February 2012 compared to 315 in February 2011);
• Orange: 15.54 percent below February 2011 (1,207 homes sold in February 2012 compared to 1,429 in February 2011);
• Osceola: 27.77 percent below February 2011 (398 homes sold in February 2012 compared to 551 in February 2011); and
• Seminole: 15.27 percent below February 2011 (394 sold in February 2012 compared to 465 in February 2011).

Median Price

*The median price of all existing homes combined sold in January 2012, $108,000, is a 13.80 percent increase from the $94,900 median price recorded in January 2011.

*The median price for "normal” existing homes sold in February is $150,000, is a decrease of 3.23 percent from the median price of "normal” existing homes in February 2011.

*The median price for short sales increased by 5.26 percent to $100,000, while the median price for bank-owned sales increased by 8.11 percent to $80,000.

Inventory

*There are currently 9,253 homes available for purchase through the MLS. The February 2012 overall inventory level is 31.36 percent lower than it was in February 2011, and almost equal to what it was in January 2012.

*Single-family home inventory is down 32.68 percent; condo inventory is down 18.46 percent.

*The current pace of sales translates into 4.99 months of supply.

Other

*The Orlando affordability index decreased to 271.61 percent in February. First-time homebuyer affordability in February decreased to 193.14 percent.

*Homes of all types spent an average of 96 days on the market before coming under contract in February 2012, and the average home sold for 93.14 percent of its listing price.

*New contracts are down 8.00 percent compared February of 2011. New listings are down 0.58 percent.

Candle Beggar

Candle Beggar arrives on Christmas Eve Day, 24 December. In former times, candles were the brightest lights available to people. They were so rare and precious that all children longed to have their very own candle for Christmas. And poor Candle Beggar – well, he also longed for a candle. The National Museum is open between 11 and 12 on Christmas Eve Day, to welcome Candle Beggar.

The thirteenth was Candle Beggar
- ‘twas cold, I believe,
if he was not the last
of the lot on Christmas Eve.

He trailed after the little ones
who, like happy sprites,
ran about the farm with
their fine tallow lights.

From the poem The Yuletide Lads by Jóhannes úr Kötlum.                                                                   

English translation by Hallberg Hallmundsson.

Meat Hook

St. Thorlák's Day, 23 December, is the day of Meat Hook's arrival. Meat Hook was crazy about meat. In the old days he would lower a long stick through the chimney and snag a smoked leg of lamb hanging from the rafters, or a piece of smoked lamb from the pot. In those days the smoked lamb, which is traditional Icelandic Christmas fare, was cooked on St. Thorlák's Day.

Meat Hook, the twelfth one,
his talent would display
as soon as he arrived
on Saint Thorlak's Day.

He snagged himself a morsel
of meet of any sort,
although his hook at times was
a tiny bit short.

 

From the poem The Yuletide Lads by Jóhannes úr Kötlum.                             

English translation by Hallberg Hallmundsson.

Door Sniffer

Door Sniffer comes to town on 22 December. He is easily recognised by his huge nose. He loved the smell of cakes and lace bread – sometimes called leaf bread – when they were being prepared for Christmas, and always tried to steal one or two.

Eleventh was Door Sniffer,
a doltish lad and gross.
He never got a cold, yet had
a huge, sensitive nose.

He caught the scent of lace bread
while leagues away still
and ran toward it weightless
as wind over dale and hill.

 

From the poem The Yuletide Lads by Jóhannes úr Kötlum.                             

English translation by Hallberg Hallmundsson.

 

Window Peeper

December 21 is when Window Peeper visits. This Lad was not as greedy as some of his brothers, he just liked to peep through the windows and sometimes nicked the toys that he saw.

The tenth was Window Peeper,
a weird little twit,
who stepped up to the window
and stole a peek through it.

And whatever was inside
to which his eye was drawn,
he most likely attempted
to take later on.

 

From the poem The Yuletide Lads by Jóhannes úr Kötlum.                             

English translation by Hallberg Hallmundsson.

 

Sausage Swiper

On 20 December we are expecting Sausage Swiper. He loved to eat sausages and stole them whenever he had a chance.

The ninth was Sausage Swiper,
a shifty pilferer.
He climbed up to the rafters
and raided food from there.

Sitting on a crossbeam
in soot and in smoke,
he fed himself on sausage
fit for gentlefolk.

 

From the poem The Yuletide Lads by Jóhannes úr Kötlum.                             

English translation by Hallberg Hallmundsson.

 

Skyr Gobbler

On 19 December we welcome the Yule Lad called Skyr Gobbler. His favourite is an Icelandic dairy product called skyr, which is similar to yogurt. He likes it so much that he used to sneak into the pantry and gobble all the skyr out of the skyr tub.

Skyr Gobbler, the eighth,
was an awful stupid bloke.
He lambasted the skyr tub
till the lid on it broke.

Then he stood there gobbling
- his greed was well known -
until, about to burst,
he would bleat, howl and groan.

 

From the poem The Yuletide Lads by Jóhannes úr Kötlum.                             

English translation by Hallberg Hallmundsson.

 

Door Slammer

Door Slammer comes to town on 18 December. He always made a lot of noise when he walked around, slamming doors and such, so people could hardly get any rest. He still has a habit of slamming doors and always does when he visits the National Museum.

The seventh was Door Slammer,
a sorry, vulgar chap:
When people in the twilight
would take a little nap,

he was happy as a lark
with the havoc he could wreak,
slamming doors and hearing
the hinges on them squeak.

 

From the poem The Yuletide Lads by Jóhannes úr Kötlum.                             

English translation by Hallberg Hallmundsson.

 

Bowl Licker

Bowl Licker comes to town on 17 December. In the past, Icelanders ate from lidded wooden bowls that they sometimes kept under the bed or on the floor. Bowl Licker would hide under the bed, and if someone put their bowl on the floor he grabbed it and licked the inside clean.

Bowl Licker, the sixth one,
was shockingly ill bred.
From underneath the bedsteads
he stuck his ugly head.

And when the bowls were left
to be licked by dog or cat,
he snatched them for himself
- he was sure good at that!

 

From the poem The Yuletide Lads by Jóhannes úr Kötlum.                             

English translation by Hallberg Hallmundsson.

 

Pot Scraper

Pot Scraper is expected on 16 December. He is also sometimes called Pot Licker since in the old days he waited to snatch away the pots that had not been washed and licked the food remains from the insides. 

Pot Scraper, the fifth one,
was a funny sort of chap.
When kids were given scrapings,
he'd come to the door and tap.

And they would rush to see
if there really was a guest.
Then he hurried to the pot
and had a scrapingfest.

 

From the poem The Yuletide Lads by Jóhannes úr Kötlum.                             

English translation by Hallberg Hallmundsson.