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Historical values of homes in Central Florida.

by Petur Sigurdsson, Broker and Erna Sigurdsson, Real

Historical values of homes in Central Florida

This graph shows the median end of year value of homes in Central Florida, since the year 1989. When looking at the graph you will see that historically  prices in our area go up 3.11% a year. This graph also shows us  how the housing bubble effected our market and how unrealistically it effected our market values. The graph also shows us that in the year of 2010 we hit the bottom, with the median value of only $105,000. This was a huge drop from the historically high value of $250,000 in 2006, which as we all know by now were inflated by faulty appraisals and pick a payment mortgages.  Let’s look at what is happening today. The median home value is up to $122,900 and rising steadily. The trend line tells us that the median value should be $140,000. We can expect to return to the historic trend by between the end of 2013 and the middle of 2014. It is my feeling that the market is correcting itself. We can not expect any jump in the market value as buyers are careful and do not intend to get burned again.  

 

 

 

Neat Things In Our Backyard: Brevard Zoo

by Erna Sigurdsson, Realtor

Brevard Zoo logo

The Brevard Zoo is located in Brevard County at

8225 N. Wickham Road in Melbourne, FL

It is only about an hours drive from Orlando, it has many interesting animals and is an affordable option for an activity to do with the whole family. If you have an annual membership at the Central Florida Zoo, the reciprocal agreement between the two zoos allow you for 50% off the ticket price at Brevard Zoo.

Recently we took a trip with the twins to the Zoo and we wanted to share the fun with our readers. Here is our trip in pictures from the Zoo.

Brevard Zoo Petting Zoo

Laura and Kathryn try out grooming a goat at the Petting Zoo

Brevard Zoo Petting Zoo Llamas

At the petting zoo, Laura and Kathryn try to talk to the Alpaca's which they kept calling Llama's. They also petted their necks and hugged the Alpaca's.

Hyacinth Macaw

When the girls saw this Hyacinth Macaw, they instantly thought of Blu, a Blue Macaw from the movie RioKangaroo

The Kangaroo found in the Australia/Asia exhibit is munching on it's food.

Pointing at Zoo animals

As the day wears on Laura gets a little tired and wants to be carried, but she is still excited to see animals and eagerly points them out as she is carried by Justin.

White Rhinoceros

In the Africa exhibit we marvel at the White Rhinoceros as he bathes in his water pit. We were looking for the Giraffes, but the day was warm and they wander around. We will use that excuse to go back sometime soon. We had such a great time and hope that you will check out the Brevard Zoo sometime in the future as well.

Photo Credits: Justin Neal with TEST Productions

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here. 

Legoland: A New Attraction Arriving in Central Florida

by Erna Sigurdsson, Realtor

Legoland will soon be opening in Central Florida, it will be a nice addition to the other theme parks that we already have. Disney, Universal, SeaWorld and Wet'N'Wild are already popular destinations for tourists and locals alike.

From the Legoland web-site "LEGOLAND® Florida, opening October 2011, is a 150-acre family theme park located in Winter Haven, just 45 minutes southwest of the Orlando theme parks or downtown Tampa. The Park will offer interactive attractions, family rides, shows, restaurants, shopping and beautiful landscape specifically geared for families with children ages 2 to12."

We have included a video on LEGOLAND for you to see for yourself how fun this park will be.

For more information and find out how to buy tickets, visit LEGOLAND's web-site.

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here. 

What is Fannie Mae trying to do?

by Petur Sigurdsson, Realtor

This article in the Orlando Sentinel by Jerry W. Jackson has kept me thinking since I read it.  I have been wandering what is the real goal here. 

 

Is it to reduce inventory?

Is it to help the consumer?

Is it to be able to control value of homes?

Is it to streamline the banking industry and save money for the banks?

Is this experiment deemed to fail?

Can I with good conscience recommend these pre-approved homes? 

 

So I went into the Multi Listing System and pulled up randomly 8 single family homes in Orange County that all are pre-approved by Fannie Mae, on average these homes are in the lower third of the price range of homes in the subdivisions they are located in, same when it came to price per square feet. 

 

So let me try to answer the questions that I have been asking myself since I saw this article. 

I don’t think this will reduce inventory as I can not see a benefit for the home buyer, any home buyer that I have worked with will wait 1 to 3 months to save from $10,000 to $40,000.

The only time that I can see this program help consumers is when the home that they are looking at and decide to make an offer on, is for coincident in this program.

Looking at the square footage price of the eight homes that are all similar in age, have similar subdivisions, and are priced from $77.93 to $144.93 I don’t think they are trying to control values.  With the proven fact that in one incident it was the lowest price and another incident it was the highest price in the subdivision. This price seems to be more in line with what is owed on the homes.

Yes, I think that Fannie Mae is trying to save money, i.e. salaries, legal fees, attorney cost, and so on.

I do believe that this experiment is going to fail, when the buyer sees that he can save up to a years salary by having a little patient.  Also the fact that there are at this moment mainly investors buying and they will only look at location, price and than condition, I don’t see them wanting to pay for time.

 

This is why I can not tell my customers that they should go out and buy a pre-approved Fannie Mae short sale.  I will continue to look for the best deal in the area that they want to live in.  If a pre-approved Fannie Mae short sale, is one of the homes that we come across, than I will tell them how the program works.

 

Contact Erna and Petur Sigurdsson, Realtors at The Viking Team, Realty at 321-263-5096 for help buying or selling a home in Longwood, Lake Mary, Altamonte Springs, Sanford, Seminole and Orange County and the surrounding areas of Central Florida. To Search For Homes For Sale in Central Florida Click Here. 

Displaying blog entries 1-4 of 4