The price of any item is determined by the supply of that item, as well as the market demand. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index.

Their latest edition sheds some light on the relationship between Seller Traffic (supply) and Buyer Traffic (demand).

Buyer Demand

The map below was created after asking the question: “How would your rate buyer traffic in your area?”

The darker the blue, the stronger the demand for homes in that area. Only four states came in with a weak or moderate demand level.

Seller Supply

The Index also asked: “How would your rate seller traffic in your area?”

As you can see from the map below, the majority of the country has weak Seller Traffic, meaning there are far fewer homes on the market than what is needed to satisfy the buyers who are out looking for their dream homes.

Bottom Line

Looking at the maps above, it is not hard to see why prices are appreciating in many areas of the country. Until the supply of homes for sale starts to meet the buyer demand, prices will continue to increase. If you are debating listing your home for sale, meet with a local real estate professional in your area who can help you capitalize on the demand in the market now!

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment.

The BH&J Index is a quarterly report that attempts to answer the question:

In today’s housing market, is it better to rent or buy a home?

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers “measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds.” 

Ken Johnson, Ph.D., Real Estate Economist & Professor at Florida Atlantic University, and one of the index’s authors explains that:

“Housing prices, in general, continue to slow and when considered in light of the recent trends in the Buy vs. Rent Index signal that ownership remains an excellent investment for the majority of Americans.”

While 15 of the 23 metropolitan markets examined moved further into buy territory since last quarter, Dallas, Denver, and Houston are three of the major cities that are currently deep into rent territory. In these three markets, it is estimated that renting will top homeownership 7 out of 10 times.

Eli Beracha, Ph.D., Assistant Professor in the T&S Hollo School of Real Estate at FIU,believes that, in these three markets, the “strong odds in favor of renting to create more wealth should begin to have an impact on the demand for home ownership and from that, impact property prices in these areas.”

Simply put, home prices in these areas will begin to return to more normal levels once residents realize that renting may be a better choice, therefore bringing home affordability back as well.

Bottom Line

The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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To Find Out More About the Study: The BH&J Index and other FAU real estate activities are sponsored by Investments Limited of Boca Raton. The BH&J Index is published quarterly and is available online at http://business.fau.edu/buyvsrent.

Things To Do Orlando:  Food & Wine Weekends at Waldorf Astoria is a celebration of fine wine and the culinary arts… the perfect complement to the Epcot® Food & Wine Festival, for the serious epicurean.

Designed for those who truly savor the artistry of fine culinary preparations – each plate a canvas for delight and each vintage an invitation for couples to indulge in each other – we invite you to experience Food & Wine Weekends at Waldorf Astoria Orlando. Come for an evening, or immerse yourself in a weekend retreat.

Food & Wine Weekends events will be held from September 16 through November 13, 2016.

Weekend Highlights

The Taste of Bull & Bear
Friday and Saturday, 6pm – 10pm, Bull & Bear
Experience an exclusive tasting four-course menu comprised of exquisite food and wine pairings – prepared by the illustrious chefs of Waldorf Astoria Orlando. Reservations recommended, please refer to, “The Taste of Bull & Bear,” when making a reservation. Call 407-597-5413. ($)
View Dinner and Wine Pairing Menu

The Taste of La Luce
Friday and Saturday, 6pm – 11pm, La Luce at Hilton Orlando Bonnet Creek
From the kitchen of La Luce at Hilton Orlando Bonnet Creek, enjoy an exclusive four-course menu with recommended wine pairing featuring the best of La Luce. Menu may be paired with wine flights for an additional fee. Reservations recommended, please refer to, “The Taste of La Luce,” when making a reservation. Call 407-597-3600. ($)

The Art of Sushi Pairing
Friday and Saturday, 5pm – 10pm, Zeta Bar & Sushi Lounge at Hilton Orlando Bonnet Creek.
Guests can enjoy an exciting epicurean journey at Zeta Bar & Sushi Lounge, exploring perfect pairings of sake or beer with favorite sushi dishes. ($)

Cocktail Creations
Saturday 4:30pm – 5:30pm, Peacock Alley
Muddle, mix and sample! Guests partake in an interactive experience creating their very own specialty cocktails.

Sip, Swirl & Savor – A Wine Tasting Experience
Friday and Saturday, 5pm – 7pm, outside of La Luce at Hilton Orlando Bonnet Creek
Before dinner, sample an array of wines which will be offered as a complement to The Taste of La Luce dinner menu. Regardless of your wine knowledge, this is a wonderful opportunity to learn more from an experienced sommelier. Select Weekends.

Bar du Chocolat and Champagne Tasting
Friday and Saturday, 6:30pm – 10:30pm, Peacock Alley
A decadent selection of à la carte chocolate treats hand-crafted by Waldorf Astoria Orlando’s world-class pastry team. A selection of champagnes are available, as well. Highlights include chocolate truffles, exotic chocolate cakes and bowls of beautiful bon-bons. ($) Select Weekends.

Macaron Bar
Friday & Saturday, 6pm – 10pm, MYTH Bar at Hilton Orlando Bonnet Creek
Whether indulging in a pre or post-dinner treat, guest can visit the Macaron Bar to try an assortment of flavors, hand-made by the resort’s world-class pastry team. ($) Select Weekends.

Craft Beer Experience
Friday & Saturday, MYTH Bar at Hilton Orlando Bonnet Creek
The resort has teamed up with local breweries to bring this interactive experience to guests. Enjoy a selection of craft beers each weekend. Select Weekends.

Live Entertainment
Nightly, Peacock Alley at Waldorf Astoria Orlando

Royal Tea – A Waldorf Astoria Tradition
Sundays, 2pm – 4pm, Peacock Alley
Treasure time together as you savor finely-prepared tea sandwiches and house-made pastries, while sipping premium hot tea and listening to live piano music. Add a glass of champagne for a “Grand Royal Tea.” Reservations are required 24 hours in advance. Please see Concierge or call 407-597-5450. ($)

Astoria After Dark
Friday and Saturday, 6pm – 10pm, WA Kids Club
Adults are not the only ones to have fun. The WA Kids Club is offering a nightly children’s program including dinner and a non-stop roster of fun activities – providing parents some “adult time” in which to experience Food & Wine Weekend activities. ($)

Waldorf Astoria® Spa Tuscany Wine Special
Daily, Waldorf Astoria Spa
Experience the powerful antioxidants of red wine powder, red grape seed extract, crushed grape seeds and pure grape seed oil as you indulge in an extravagant Tuscany Wine Wrap or Pedicure. To book an appointment at Waldorf Astoria Spa please call 407-597-5360. ($)

All guests of Waldorf Astoria Orlando and Hilton Orlando Bonnet Creek are invited to enjoy Food & Wine Weekend experiences.

WHEN:  Friday, September 30, 2106
WHERE:  Waldorf Astoria
COST:  Varies, packages are available

Visit the Event Website for more details.

Information courtesy of Orlando Real Estate Expert Teri Isner and the Orlando Avenue Top Team.

Access Teri’s one-stop Orlando FL home search website. Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale. You deserve professional real estate service!

You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Whenever there is talk about an improving housing market, some begin to show concern that we may be headed toward another housing bubble that will be followed by a crash similar to the one we saw last decade.

Here are five data points that show the housing market will continue to recover, and that a new housing crisis is not about to take shape.

1) Mortgage availability is increasing, but is nowhere near the levels we saw in 2004-2006.

A buyer’s chances of being approved for a mortgage have increased over the last three years; That’s good news for the market. This is not a precursor to another challenge, as many experts maintain that it is still too difficult for many buyers to attain house financing.

As Jonathan Smoke, the Chief Economist of realtor.com, recently explained:

“The havoc during the last cycle was the result…of speculation fueled by loose credit. That’s the exact opposite of what we have today.”

2) The Housing Affordability Index, which measures whether or not a typical family earns enough income to qualify for a mortgage loan on a typical home, based on the most recent price and income data. The current index shows that it is more affordable to buy a home today than at any other time between 1990 and 2008. With median incomes finally beginning to rise, houses should continue to remain affordable and housing demand should remain strong.

3) Home prices are well within historic norms. Prices have increased substantially over the last several years; However, those increases followed the housing crash of 2008 and national prices are still not back to 2006 levels. If there were no bubble (and subsequent bust), today’s prices would actually be lower than if they were measured by historic appreciation levels from 1987-1999.

4) Demand for housing, as measured by new household formations, is growing. The Urban Land Institute projects that 5.95 million new households will be formed over the next three years. Even if the homeownership rate drops to 60%, that would be over 3.5 million new homeowners entering the market.

5) New home starts are finally beginning to increase. This helps eliminate the number one challenge in the industry – lack of inventory. And it does so in two ways:

1. Some first time buyers will, in fact, purchase a newly constructed home.
2. Many current homeowners will move-up (or move-down) to a new construction and then put their current home on the market.

This means that there will be an increase in both new construction and existing home inventories.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Being a homeowner means that your home is yours – even the things that need fixing. Is a faucet leaking? Are floor boards squeaky? Is a light-switch not working? Those issues are all yours to tackle. But what projects can you do yourself and what ones require the help of a trained professional? Taking on projects yourself can save you time and money. But taking on the wrong projects can lead to unending amounts of stress or end up costing you more money than if you had hired someone in the first place. NAR’s consumer website, HouseLogic.com, lets you know which projects need a seasoned hand and a beginner can undertake.

Take a look at how many families decided to become homeowners in our local market in August…

Orlando Real Estate Sales Statistics

Orange County Real Estate Sales Statistics – August 2016

Orange County home sales increased by 2.08%. Prices increased with the average sales price up 9.74% and the median price increased by 11.28%.  Market times decreased by 10 days compared to August 2015.

Osceola County Real Estate Sales Statistics – August 2016

Osceola County home sales decreased by 4.92%. Prices increased with the average sales price up 8.65% and the median price increased by 10.12%.  Market times decreased by 8 days compared to August 2015.

Seminole County Real Estate Sales Statistics – August 2016

Seminole County home sales increased by 5.92%. Prices increased with the average sales price up 11.9% and the median price increased by 15.49%.  Market times decreased by 5 days compared to August 2015.

Lake County Real Estate Sales Statistics – August 2016

Residential sales in Lake County home sales increased by 15.37%. Prices increased with the average sales price up 14.19% and the median price increased by 13.12%.  Market times decreased by 12 days compared to August 2015.

Polk County Real Estate Sales Statistics – August 2016

Polk County home sales increased by 17.2%. Prices increased with the average sales price up 10.55% and the median price increased by 12.98%.  Market times decreased by 21 days compared to August 2015.

Search all Orlando area homes for sale here!

In many markets across the country, the amount of buyers searching for their dream homes greatly outnumbers the amount of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, knowing your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the 4 Cs that help determine the amount you will be qualified to borrow:

1. Capacity: Your current and future ability to make your payments
2. Capital or cash reserves: The money, savings and investments you have that can be sold quickly for cash
3. Collateral: The home, or type of home, that you would like to purchase
4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so as well.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!

Celebration Real Estate Market Report for August 2016

The Kissimmee Real Estate Market Trends Report shows the average sales price was $140,302 in August 2016 compared to $141,898 in August 2015. Homes were on the market for an average of 53 days compared to 52 days last year. 51 homes sold in August 206 compared to 52 homes in August 2015.

Kissimmee Real Estate Market Trends for August 2016

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School is back in session, the holidays are right around the corner, you might not think that now is the best time to sell your house. But with inventory below historic numbers and demand still strong, you could be missing out on a great opportunity for your family.

Here are five reasons why you should consider selling your house this fall: 

1. Demand Is Strong

The latest Realtors’ Confidence Index from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase… and are in the market right now!

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

According to NAR’s latest Existing Home Sales Report, the supply of homes for sale is still under the 6-month supply that is needed for a normal housing market at 4.7-months.

This means, in most areas, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.

There is a pent-up desire for many homeowners to move, as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market this fall.

Also, as builders regain confidence in the market, new construction of single-family homes is projected to continue to increase over the next two years, reaching historic levels by 2017. Last month’s new home sales numbers show that many buyers who have not been able to find their dream home within the existing inventory have turned to new construction to fulfill their needs.

The choices buyers have will continue to increase. Don’t wait until all this other inventory of homes comes to market before you sell.

3. The Process Will Be Quicker

Fannie Mae announced that they anticipate an acceleration in home sales that will surpass 2007’s pace. As the market heats up, banks will be inundated with loan inquiries causing closing-time lines to lengthen. Selling now will make the process quicker & simpler. 

4. There Will Never Be a Better Time to Move Up

If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by 5.3% over the next year, according to CoreLogic. If you are moving to a higher-priced home, it will wind up costing you more in raw dollars (both in down payment and mortgage payment) if you wait.

According to Freddie Mac’s latest report, you can also lock-in your 30-year housing expense with an interest rate around 3.46% right now. Interest rates are projected to increase moderately over the next 12 months. Even a small increase in rate will have a big impact on your housing cost.

5. It’s Time to Move On with Your Life

Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?

Only you know the answers to the questions above. You have the power to take control of the situation by putting your home on the market. Perhaps the time has come for you and your family to move on and start living the life you desire. 

That is what is truly important.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

Get Orlando Daily News delivered to your inbox! Subscribe here!