Many experts have been calling upon home builders to ramp up construction to help with the lack of existing inventory for sale. For the past two months, new home sales have surged, with July’s total coming in at the highest since October 2007.

The latest estimates from the US Census Bureau and Department of Housing and Urban Development show that sales in July were 31.3% higher than this time last year, and 12.4% higher than last month, at a seasonally adjusted annual rate of 654,000. 

Zillow’s Chief Economist, Svenja Gudell, echoed the reaction of some as she commented:

“July(‘s) new home sales data was a surprise, but a welcome one. For years, the market has been practically begging builders to both ramp up their efforts overall and to put more focus on serving the less expensive end of the market. Today’s data confirms both are happening in earnest.”

The National Association of Home Builder’s (NAHB) Chairman, Ed Brady, didn’t seem as surprised:

“This rise in new home sales is consistent with our builders’ reports that market conditions have been improving. As existing home inventory remains flat, we should see more consumers turning to new construction.”

NAHB’s Chief Economist, Robert Dietz, believes this is just the start for new home sales if market conditions continue:

“July’s positive report shows there is a need for new single-family homes, buoyed by increased household formation, job gains and attractive mortgage rates. This uptick in demand should translate into increased housing production throughout 2016 and into next year.”

The existing home sales numbers for July will be released today and will shed more light on the overall health of the housing market.

Bottom Line

New home sales hit their highest mark in over 9 years. Buyers are out in force to find a home that fits their needs. Many are turning to new construction, as the inventory of existing homes has not been able to keep up with demand.

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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Things To Do Orlando:  Big Bang Bazaar offers a family friendly event this weekend!

We are pleased to announce that Big Bang Bazaar (Indie Art, Crafts and Vintage Bazaar) will take place on August 27th, 2016! The event is family friendly and appropriate for all ages!

Big Bang Bazaar will feature a curated selection of over 200 local Indie artists and crafters, along with a free photo booth, Orlando Psycho City Derby Girls, Orlando Facial Hair Club and movies playing all day! Shoppers will find a wide variety of goods, all handmade by local artisans! Products such as clothing, accessories, jewelry, original art, art prints, housewares and much more will be available for purchase!

WHEN:  Saturday, August 27th, 2016 @ 11am – 6pm
WHERE:  Central Florida Fairgrounds & Exposition Park
COST:  FREE

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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Recent research by the realtor.com examined certain red flags that caused the housing crisis in 2005, and then compared them to today’s real estate market. Today, we want to concentrate on four of those red flags.

1. Price to Rent Ratio
2. Price to Income Ratio
3. Mortgage Transactions
4. House Flipping

All four categories were outside historical norms in 2005. Home prices were way above normal ratios when compared to both rents and incomes at the time.

They explained that mortgage transactions as a percentage of all home sales were also at a higher percentage:

“Loose credit was one of the main culprits of the housing crisis. Mortgage lending expanded dramatically as unhealthy housing speculation reached its peak and was met by the highest level of credit availability as measured by the Mortgage Bankers Association. The index measures the overall mortgage credit condition by the share of home sales financed by mortgages. This metric does not capture credit quality, but it does set a view of the importance of financing in supporting the housing market.”

House flipping was rampant in 2005. As realtor.com’s research points out:

“Heightened flipping activity is a clear indication of speculation in the real estate market. A property is considered as a speculative flip if the property is sold twice within 12 months and with positive profit. Flipping is a normal part of a healthy housing market. In an inflated housing market, expectations about short-term profit from pure price appreciation are very high; therefore, the level of flipping activity would show evidence of being heightened.”

Here are the categories with percentages reflecting the unrealistic ratios & numbers of 2005 as compared to the current market. Remember, a negative percentage reflects a positive gain for the market.

Bottom Line

They say hindsight is 20/20… Today, experts are keeping a close watch on the potential red flags that went unnoticed in 2005.

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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Things To Do Orlando:  3rd Thursday Gallery Hop gives you a chance to appreciate local art.

Join thousands of visitors who converge in Downtown Orlando for 3rd Thursday Orlando’s Gallery Hop, Tech Meetup and Business Networking events!

VISIT THE FOLLOWING VENUES:
Aloft Orlando Downtown 500 S Orange Ave.
Canvs 101 S. Garland Ave. #108
CityArts Factory 29 S Orange Ave.
The Kiene Quigley Community Gallery:
Gallery 29:
The Orlando Magic Gallery:
Star Gallery:
Redefine:
Young Artists Gallery, presented by Artegon Marketplace:
O Gallery: “O” Gallery features resident artists Vickie Wilson, Donna Dowless, Dlynn Roll, Roberto Gonzalez, Pamela Loudon, Ronda Richley, Bernie Martin, Nestor Charneco, Mercedes Charneco and Doug Powell.
The Falcon Bar & Gallery 819 E Washington St.
Gallery at Avalon Island 39 S Magnolia Ave.
Grand Bohemian Gallery 325 S Orange Ave.
NV Art Bar 27 E Pine St.
Art Haus Drogue, opens at 6 p.m.
Orange County Library 101 E Central Blvd.
Terrace Gallery/City Hall 400 S, Orange Avenue
Orlando Tech Meetup Church Street Exchange, 101 South Garland Ave

WHEN:  Thursday, August 18 @ 6pm
WHERE:  Downtown Arts District – 29 South Orange Avenue

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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The Celebration Real Estate Market Trends Report for 34747 shows 94 homes sold in July 2016 compared to 88 in July 2015. The average sales price was $279,026 compared to $307,375 in July 2015 and homes were on the market an average of 121 days, up from 106 days in July 2015.

Some Highlights:

• Interest Rates are still below historic numbers.
• 88% of property managers raised their rent in the last 12 months!
• Credit score requirements to be approved for a mortgage continue to fall.

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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Back by popular demand! Mamma Mia! Sing-Along – calling all Dancing Queens and Super Troupers! The light is going to find you at TheAbbey when we present MAMMA MIA! on our big screen! What’s the name of the game? You sing along to all your favorite ABBA songs you know and love – we’ll provided the drink specials, candy buffet and complimentary popcorn, as well as prizes for best costume!

WHEN:  Friday, August 12, 2016 @ 8pm
WHERE:  The Abbey
COST: $20

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.

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

Appreciate art this weekend!  Things To Do Orlando:  Form in Light brings you a great exhibit!

Snap! Downtown presents ‘Form in Light’ – featuring works by Drew Doggett and Luis Lazo.  Also on view at OG1 Gallery : ‘Dans la Nature’ (In Nature) –  with works by Tom Chambers, Martin Stranka, Alicia Edijanto, and at OG2 Gallery : ‘Intersection’ – with works by Michael Rothwell.

WHEN:  Friday, August 5, 2016 from 7pm-10pm
WHERE:  Snap! Downtown Gallery 
COST:  FREE

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.

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

If you’re looking for Things To Do In Orlando this upcoming weekend, try  Aquatica Island Nights!

Aquatica heats things up with Island Nights presented by Coca-Cola – an all-new beach party taking place every Friday and Saturday. Enjoy live DJs, dancing on the beach and an evening menu sizzling with flavor. Step into the center of the action at the party zone with interactive games, live music and awesome prizes.

WHEN:  Saturday, July 30th, 2016 @ 5pm-9pm
WHERE:  Aquatica, SeaWorld’s Waterpark
COST:  Included with park admission to Aquatica

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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Wondering what to do this weekend? Fun Things To Do Orlando – Orlando Rocks Country! With Jill’s Cashbox, Patrick Gibson, Justin Grimes and Jeff Hurst is the perfect event for the country music lover.

Since 2011, Jill’s Cash Box has used influences from Country, Rock, Top 40, & Pop to develop its sound. The group bonded over their affinity for music and creativity and used their unique life experiences to create a distinct country-rock feel all its own.

Patrick Gibson has grown wildly popular since the start of his fame in his home of Central Florida. This talented singer writes his own music album and performs to sold out crowds in Central Florida , saving the little free time he has to donate his time to charity and children.

Justin Grimes is a singer/songwriter from Central Florida whose lyrically driven blend of blues, country, soul, southern rock and folk is best described as “smooth.”

Jeff Hurst is a self- taught guitarist who spent hours perfecting his craft and drawing musical inspiration from every angle of his life. He has worked with some of the biggest hit songwriters in today’s country charts and is excited to be back in his Central Florida hometown for Orlando Rocks Country! with the other artists.

WHEN:  Saturday, July 23, 2016 @ 7:30pm
WHERE:  House of Blues
COST: $5

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.

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