FORD EXPEDITION 2011 COMES TO WENDY MORRIS REALTY

To cater for a growing Clientele of buyers from Out of State we have added yet another Expedition to our fleet with the top of the line 2011 Ford Expedition King Ranch -- all 17-plus feet and more than 5,500 pounds of it -- is one heck of a big truck. Oddly enough, though, it doesn't really feel like it from behind the steering wheel. Much of the credit goes to the fully independent rear suspension, which is a rarity in a full-size SUV and giving our clients superb comfort. Loaded with Ford Sync , Rear TV Screens , the SUV is capable of streaming data from the built in Hard drive to the rear screens allowing our clients to have an interactive tour of the homes we are viewing with them.

Increase in "normal" home sales drives increase in median price

Increase in "normal" home sales drives increase in median price

(June 13, 2011 – Orlando, FL) The percentage of “normal” sales — those that are neither bank-owned nor short sales — has risen for the fourth month in a row and in May made up 37.47 percent of all transactions involving members of the Orlando Regional REALTOR® Association.

ORRA began separating “normal” sales from bank-owned and short sales in May of 2009. Since that time, “normal” sales were at their highest point in July 2009 (58.00 percent) and their lowest point in January 2011 (24.84 percent).

The higher selling prices of “normal” homes are helping to boost Orlando’s overall median price, which in May increased 4.76 percent to $110,000 from the $105,000 posted in April. The overall median price has increased each month since January 2011; the May 2011 median is now only 4.35 percent lower than it was in May 2010 ($115,000).

The lower median price of foreclosures and short sales — which made up 62.53 percent of all sales in May — does continue to negatively influence the overall median price. The median price for bank-owned sales in May is $80,000 and the median price for short sales is $102,900. The median price for “normal” existing homes sold in May is $155,000.

The 2,367 sales transactions that were completed in May 2011 is 14.95 percent less than were completed in May 2010, which was on the heels of the federal homebuyer tax credit. At the current pace of sales, there is a 4.63-month supply of homes (lowest since December 2005).

The number of sales transactions, plus a decrease in the number of new listings, has resulted in yet another drop in the inventory of homes available for purchase. Inventory declined by 511 homes (4.45 percent) during the month of May and now rests at 10,969. (Year to date, overall inventory is down 31.28 percent from this time last year; single family home inventory is down 24.99 percent; and condo inventory is down 55.10 percent.)

Pending sales – those under contract and awaiting closing – are at currently their highest point (10,210) since May of 2010 (10,351).

“Our market indicators are pointing toward the existence of pent-up demand, which is caused in part by the current difficulties in securing a mortgage,” explains ORRA Chairman of the Board of Directors Mike McGraw, McGraw Realty Services, PL. “Lenders and bank regulators need to be mindful of the historically low default rates among mortgage borrowers of the past two years. We simply have to get back to sound, common-sense lending standards to provide mortgages to creditworthy borrowers who are buying homes well within their means.”

Homes of all types spent an average of 104 days on the market before coming under contract in May 2011, and the average home sold for 94.95 percent of its listing price. In May 2010 those numbers were 83 days and 94.75 percent, respectively.

The area’s average interest rate decreased in May 2011 to 4.66 percent, from the 4.89 percent posted in April 2011.

Affordability

The Orlando affordability index decreased to 246.47 percent in May. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.) Buyers who earn the reported median income of $53,732 can qualify to purchase one of 8,061 homes in Orange and Seminole counties currently listed in the local multiple listing service for $271,115 or less.

First-time homebuyer affordability in May decreased to 175.27 percent from last month’s 178.61 percent, which can be attributed in part to the increase in median price. First-time buyers who earn the reported median income of $36,538 can qualify to purchase one of the 5,677 homes in Orange and Seminole counties currently listed in the local multiple listing service for $163,874 or less.

Condos and Town Homes/Duplexes/Villas

The sales of condos in the Orlando area (428) decreased by 33.23 percent in May when compared to May of 2010 (641).

The most (195) condos in a single price category that changed hands in May were yet again in the $1 - $50,000 price range and account for 45.56 percent of all condo sales. Low-priced units have overwhelmingly dominated condo sales since March of 2009, although the number of sales in this category has decreased each month since January.

Orlando homebuyers purchased 212 duplexes, town homes, and villas in May 2011, which is a 17.83 percent decrease from May 2010, when 258 of these alternative housing types were purchased. Most sales (34) were $50,000 or below.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in May were down by 12.82 percent when compared to May of 2010. Throughout the MSA, 2,925 homes were sold in May 2011 compared with 3,355 in May 2010. To date, sales in the MSA are up 2.30 percent.

Each individual county’s monthly sales comparisons are as follows:

Lake: 14.73 percent below May 2010 (359 homes sold in May 2011 compared to 421 in May 2010);
Orange: 14.99 percent below May 2010 (1,560 homes sold in May 2011 compared to 1,835 in May 2010);
Osceola: 4.93 percent below May 2010 (521 homes sold in May 2011 compared to 548 in May 2010); and
Seminole: 11.98 percent below May 2010 (485 sold in May 2011 compared to 551 in May 2010).

For detailed statistical reports, please visit www.orlrealtor.com and click on “Housing Statistics” on the top menu bar. This representation is based in whole or in part on data supplied by the Orlando Regional REALTOR® Association and the My Florida Regional Multiple Listing Service. Neither the association nor MFRMLS guarantees or is in any way responsible for its accuracy. Data maintained by the association or MFRMLS may not reflect all real estate activity in the market. Due to late closings, an adjustment is necessary to record those closings posted after our reporting date.

ORRA REALTOR® sales, referred to as the core market, represent all sales by members of the Orlando Regional REALTOR® Association, not necessarily those sales strictly in Orange and Seminole counties. Note that statistics released each month may be revised in the future as new data is received.

Orlando MSA numbers reflect sales of homes located in Orange, Seminole, Osceola, and Lake counties by members of any REALTOR® association, not just members of ORRA.

Boating in Florida

For many homes owners in Florida , Boating , Fishing and Sunshine feature high on the list of reasons to move to the Sunshine state . The webmaster and his son recently sailed the family sports-fisher from Miami to Cape Canaveral enjoying some of the best scenery possible. From stunning Sunsets to Dolphins following the bow wave it made it a trip never to forget .

To view some of the Lakefront Homes we have for sale in Windermere Florida simply click in the title of this post

New Wrap on Company SUV

The bottom image was of a hard hitting message which has now been replaced with the top one in line with current market changes. The wrap wsas prepared by Shadow Graphics Orlando . Our Suvs obtain an estimated industry average of 1,000,000 impressions which in turn drives many 1000s of visitors to our web sites and the properties listed within. Another compelling reason to use Wendy Morris Realty who officially rank in the top 100

Market Report Orlando May 2011

Steady sales, declining listings bring inventory to a manageable level
(May 16, 2011 - Orlando, FL) Homebuyers have been gradually chipping away at Orlando’s once-towering inventory and have reduced it down to 11,480 homes available for purchase, reports the Orlando Regional REALTOR® Association. That’s an inventory level not seen since the end of the red-hot housing market in 2005.

“In addition to sales, inventory level is affected by the steadily decreasing number of homes going on the market each month since March of 2010,” explains ORRA Chairman of the Board Mike McGraw, McGraw Real Estate Services, PL. “New listings are down by 26 percent for the year and as a result, Orlando is resting on a market-healthy rate of 4.81 months of inventory.”

The inventory levels of all home types are on the decrease, with condo inventory leading the slide at 53.65 percent lower than it was in April 2010.

Inventory Comparison

Type of Home
Available for Purchase

Number Available
for Purchase in April 2010

Number Available
for Purchase in April 2011

Percent of Change

Total

11,480

15,766

(-)27.19

Single family

9,382

11,738

(-)20.07

Condo

1,281

2,764

(-)53.65

Duplex/Townhome/Villa

817

1,264

(-)35.36

Orlando sales in April of 2011 are down by 9.68 percent compared to April of 2010, with 2,388 homes changing hands last month. To date, sales in 2011 are 1.82 percent above sales in 2010.

Orlando’s median price experienced its third month-over-month gain, with area homes selling for a median of $105,000. That median price is 8.70 percent lower than April 2010’s median price of $115,000.

The lower median price of foreclosures and short sales — which at 65.49 percent of all sales in April actually represents a 5 percent drop from last month — continues to drag down the overall median price.The median price for bank-owned sales in April is $80,000 and the median price for short sales is $91,000. The median price for “normal” existing homes sold in April is $160,000.

In addition to a 6.67 percent month-over-month increase in the median price of “normal” sales, the number of Orlando’s normal sales increased by 8.14 percent to 824 in April from 762 in March.

Homes of all types spent an average of 104 days on the market before coming under contract in April 2011, and the average home sold for 94.10 percent of its listing price. In April 2010 those numbers were 81 days and 95.81 percent, respectively.

The area’s average interest rate decreased slightly in April 2011 to 4.89 percent, from the 4.91 percent posted in March 2011.

Affordability

The Orlando affordability index decreased to 251.18 percent in April. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.) Buyers who earn the reported median income of $53,675 can qualify to purchase one of 8,350 homes in Orange and Seminole counties currently listed in the local multiple listing service for $263,734 or less.

First-time homebuyer affordability in April decreased to 178.61 percent from last month’s 183.51 percent, which can be attributed in part to the rise in median price. First-time buyers who earn the reported median income of $36,499 can qualify to purchase one of the 5,843 homes in Orange and Seminole counties currently listed in the local multiple listing service for $159,413 or less.

Condos and Town Homes/Duplexes/Villas

The sales of condos in the Orlando area (465) decreased by 22.24 percent in April when compared to April of 2010 (598).

The most (228) condos in a single price category that changed hands in April were yet again in the $1 - $50,000 price range and accounts for 49.03 percent of all condo sales. Low-priced units have overwhelmingly dominated condo sales since March of 2009.

Orlando homebuyers purchased 215 duplexes, town homes, and villas in April 2011, which is a 10.04 percent decrease from April 2010, when 239 of these alternative housing types were purchased. Most sales (31) were in the $100,000 - $120,000 price range.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in April were down by 4.62 percent when compared to April of 2010. Throughout the MSA, 3,099 homes were sold in April 2011 compared with 3,249 in April 2010. To date, sales in the MSA are up 6.12 percent.

Each individual county’s monthly sales comparisons are as follows:

Lake: 2.24 percent below April 2010 (392 homes sold in April 2011 compared to 401 in April 2010);
Orange: 10.58 percent below April 2010 (1,563 homes sold in April 2011 compared to 1,748 in April 2010);
Osceola: 13.11 percent above April 2010 (647 homes sold in April 2011 compared to 572 in April 2010); and
Seminole: 5.87 percent below April 2010 (497 sold in April 2011 compared to 528 in April 2010).

The Royal Wedding

What does one believe ?

Deval Patrick, the governor of Massachusetts and a close ally of President Obama, said Thursday that questions surrounding the president’s birth represent “a new low in American politics.”

Patrick was appearing on his weekly segment on WTKK-FM in Boston, when he was asked by the program’s hosts, Jim Braude and Margery Eagan, whether Obama had played into Donald Trump’s hands by publicly discussing the matter of his birth certificate.

Patrick didn't take the bait. “I hope and I believe that the American people are bigger and better than this,” he said.” I hope and believe the Republican Party is bigger and better than this.”

Asked whether the so-called “birther” movement was fueled by racism, Patrick, an African-American in his second term as governor, responded: “I have no idea, but whatever it is motivating it, it feels like a new low in American politics,” he said, “particularly when you consider the enormous challenges facing this country.”

Patrick said that the issue, now spearheaded by Trump, was an attempt to “marginalize” Obama, adding that the prospect that “a character like Donald Trump can get the kind of attention he does for some of these really ridiculous charges reflects poorly, I think, on all of us.”

Like Patrick, the president sternly reproached the media at his White House Briefing Room appearance Wednesday. But as we noted in Thursday’s Los Angeles Times, the president hasn’t been afraid to allude to the controversy in front of friendly crowds of campaign donors, such as the ones who filled a ballroom at the Waldorf-Astoria hotel in Manhattan Wednesday night.

Obama introduced himself by saying, “My name is Barack Obama. I was born in Hawaii. I'm president of the United States. And I'm running for reelection.”

He went on, “Nobody checked my ID on the way in,” as the crowd laughed.

Royal Guest List

Well by now you will have heard about the Royal Wedding taking place. At Wendy Morris Realty since we originate from the UK we have been following the event closely . We thought our readers might like to see the official guest list . Simply click on the title to take a look who will be attending on the big day.

QR codes

We Just Made the Plunge in to the world of QR Codes . At Wendy Morris Realty we are constantly keeping ahead of technology specifically if it has a use within our business model .

What's that bar code?

This unique bar code on the top of this text (known as a QR code) lets our current customers - and potential customers - instantly learn more about our business or products, by visiting a mobile version of our business product Page on any supported phone.

Here's more on how it works and what you can do with it:

Make sure your phone can scan a QR code with its camera, either with an application that you download or via software that's already installed on your phone. To find out what application to use for your phone, we recommend doing a Google search for the model of your phone along with "QR reader".

When you see a QR code, use your phone's application to scan it. If you're scanning a QR code on one of the window decals that we've sent to thousands of U.S. clients, you'll quickly be taken to that business relavant information which can be a listing , a bank owned home a video etc.

In the case of the above QR code it carries information about a fantastic custom Home for sale in Keenes Pointe and will take you directly to the Listing information . Please feel free to give it a try

Always at the forefront of technology we will be making essential updates to our portfolio of web sites and will be publishing the updates as they take place here

Orlando Real Estate Market Report

Median price increases as "normal" home sales jump 28 percent

(April 14, 2011 – Orlando, FL) The median price of Orlando area existing-home sales has increased for the second consecutive month – to $103,000 – reports the Orlando Regional REALTOR® Association. However, the March 2011 median price is 6.36 percent less than the median recorded in March 2010.

The increase in overall median price is attributable in part to an increase in the number of “normal” home sales, which have higher selling prices than foreclosures or short sales. The number of normal sales in March (733) is 28.15 percent higher than in February (572).

“Short sales and foreclosures continue to dominate and account for 70.50 percent of sales in March,” says ORRA Chairman of the Board Mike McGraw, McGraw Real Estate Services, PL. “A consistently high percentage of these sales types is something that we want to see; the sooner they flush through the system the sooner we can get back to a market based on normal sales.”

The lower median price of foreclosures and short sales drags down the overall median price.The median price for bank-owned sales in March is $80,000 and the median price for short sales is $102,500. The median price for “normal” existing homes sold in March is $152,500.

The number (9,510) of homes under contract for purchase in March is a decrease of 6.57 percent compared to those awaiting closing in March 2010. However, there are 3.11 percent more homes currently under contract than were last month (9,223), most likely the first sign of the market’s typical spring/summer swell.

The Orlando affordability index decreased to a still-rocking 255.05 percent in March. (An affordability index of 99 percent means that buyers earning the state-reported median income are 1 percent short of the income necessary to purchase a median-priced home. Conversely, an affordability index that is over 100 means that median-income earners make more than is necessary to qualify for a median-priced home.) Buyers who earn the reported median income of $53,618 can qualify to purchase one of 9,052 homes in Orange and Seminole counties currently listed in the local multiple listing service for $242,297 or less.

First-time homebuyer affordability in March decreased to 181.37 percent from last month’s 197.29 percent, which can be attributed in part to the rise in median price. First-time buyers who earn the reported median income of $36,460 can qualify to purchase one of 6,141 homes in Orange and Seminole counties currently listed in the local multiple listing service for $146,455 or less.

Homes of all types spent an average of 103 days on the market before coming under contract in March 2011, and the average home sold for 95.40 percent of its listing price. In March 2010 those numbers were 91 days and 94.59 percent, respectively.

The area’s average interest rate increased in March 2011 to 4.91 percent, from the 4.88 percent posted in February 2011.

Inventory

There are 12,533 homes currently available for purchase through the MLS, which is 3,690 homes (22.75 percent) less than were available in March 2010. The current pace of sales translates into 5.04 months of supply, the lowest since December 2005.

There are 10,115 single-family homes currently listed in the MLS, a number that is 16.25 percent less than the 12,077 single-family homes listed in March of last year. Condos make up 1,506 offerings in the MLS, while duplexes/town homes/villas make up the remaining 912. Orlando’s condo inventory is 45.81 percent lower than it was in March 2010.

Condos and Town Homes/Duplexes/Villas

The sales of condos in the Orlando area (473) decreased by 22.71 percent in March when compared to March of 2010 (612).

The most (234) condos in a single price category that changed hands in March were yet again in the $1 - $50,000 price range and accounts for 49.47 percent of all condo sales. Low-priced units have overwhelming dominated condo sales since March of 2009.

Orlando homebuyers purchased 230 duplexes, town homes, and villas in March 2011, which is a 0.44 percent increase from March 2010, when 229 of these alternative housing types were purchased.

MSA Numbers

Sales of existing homes within the entire Orlando MSA (Lake, Orange, Osceola, and Seminole counties) in March were down by 2.97 percent when compared to March of 2010. Throughout the MSA, 3,172 homes were sold in March 2011 compared with 3,269 in March 2010. To date, sales in the MSA are up 8.55 percent.

Each individual county’s monthly sales comparisons are as follows:

*Lake: 9.98 percent below March 2010 (397 homes sold in March 2011 compared to 441 in March 2010);
*Orange: 8.62 percent below March 2010 (1,633 homes sold in March 2011 compared to 1,787 in March 2010);
*Osceola: 16.55 percent above March 2010 (641 homes sold in March 2011 compared to 550 in March 2010); and
*Seminole: 2.04 percent above March 2010 (501 sold in March 2011 compared to 491 in March 2010).