Sanford, FL

The following are the market sales statistics for Sanford, Seminole County, Florida for September 2009. Sanford is made up of the zip codes of 32773 & 32771. For purposes of this analysis we are only splitting the data according to single-family homes vs, condominiums, townhomes and villas.

A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time - in other words, it's the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it's specifically indicating which price range is more active.

The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.

The sales to list price ratio is just that, you're dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.

There needs to be a disclaimer here. These stats are only as good as telling us what it being purchased and happening at a certain period in time. Also, it needs to be fully understood that not only is real estate local, but it is hyper-local. What this means is that the trends that we hear about are overall. Let's put it this way, what's happening in one neighborhood, may not be realized in the neighborhood next door.

Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.

Single-Family Homes

65 homes sold during the month of September.

The average sales price is $149,056 with 131 days on the market.

The median sales price is $120,000.

The sales to list price ratio is 97%.

The most expensive home sold for $500,000 in the Lake Forest and was on the market 251 days.

The least expensive home sold for $8000 in Cates Addition after 256 days on the market.

The average sales price for the same period a year earlier was $253,015 with 130 days on the market with a sales to list price ratio of 94% on 54 sales, an increase of 20%.

The month to month changes show a decrease in the average sales price of 14% and a decrease in the median sales price of 17%. There was also a decrease in sales volume of 6% with a 2% increase in the sales to list price ratio.

Condos, Townhomes & Villas

15 homes sold

The average sales price was $125,367 with 116 days on the market.

The median sales price was $90,000.

The sales to list price ratio is 95%.

The most expensive condo sold for $475,000 in Gateway at Riverwalk and was new construction.

The least expensive townhome sold for $24,500 in Pine Ridge Club after 150 days on the market.

The average sales price a year earlier was $128,209 with 71 days on the market with a sales to list price ratio of 94% on 10 sales, an increase of 50%.

The month to month changes show an increase in the average sales price of 11% and a decrease in the median sales price of 15%. There was a decrease in sales volume of 6% with a 4% decrease in the sales to list price ratio.

For information on Sanford and Seminole County real estate and Sanford and Seminole County homes for sale in addition to Sanford and Seminole County relocation contact Marc Grossman, your Sanford and Seminole County Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his website.

Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034

You can read Marc's other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

The following are the market sales statistics for Seminole County, Florida for August 2009. For purposes of this analysis we are only splitting the data according to single-family homes vs, condominiums, townhomes and villas.

A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time - in other words, it's the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it's specifically indicating which price range is more active.

The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.

The sales to list price ratio is just that, you're dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.

There needs to be a disclaimer here. These stats are only as good as telling us what it being purchased and happening at a certain period in time. Also, it needs to be fully understood that not only is real estate local, but it is hyper-local. What this means is that the trends that we hear about are overall. Let's put it this way, what's happening in one neighborhood, may not be realized in the neighborhood next door.

Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.

Single-Family Homes

347 homes sold during the month of August.

The average sales price is $212,847 with 123 days on the market.

The median sales price is $185,000.

The sales to list price ratio is 96%.

The most expensive home sold for $790,000 in Kingsbridge West in Oviedo and was on the market 45 days.

The least expensive home sold for $16,000 in Canaan in Sanford after 203 days on the market.

The average sales price for the same period a year earlier was $305,831 with 152 days on the market and a sales to list price ratio of 94% on 221 sales an increase of 57%.

The month to month changes show a decrease in the average sales price of 6% and a decrease in the median sales price of 3%. There was an increase in sales volume of less than 1% with a 2% increase in the sales to list price ratio.

Condos, Townhomes & Villas

151 homes sold

The average sales price was $78,039 with 117 days on the market.

The median sales price was $60,375.

The sales to list price ratio is 99%.

The most expensive sold for $211,900 at Oviedo Park Townhomes and was on the market 120 days.

The least expensive condo sold for $18,551 at Waterside at Cranes Roost in Altamonte Springs after 104 days on the market.

The average sales price a year earlier was $141,764 with 143 days on the market and a sales to list price ratio of 94% on 57 sales, an increase of 202%.

The month to month changes show a decrease in the average sales price of 6% and a decrease in the median sales price of 6%. There was also an increase in sales volume of 12% with a 3% increase in the sales to list price ratio.

For information on Seminole County real estate and Seminole County homes for sale in addition to Seminole County relocation contact Marc Grossman, your Seminole County Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his website.

Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034

You can read Marc's other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

The following are the market sales statistics for Sanford, Seminole County, Florida for August 2009. Sanford is made up of the zip codes of 32773 & 32771. For purposes of this analysis we are only splitting the data according to single-family homes vs, condominiums, townhomes and villas.

A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time - in other words, it's the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it's specifically indicating which price range is more active.

The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.

The sales to list price ratio is just that, you're dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.

There needs to be a disclaimer here. These stats are only as good as telling us what it being purchased and happening at a certain period in time. Also, it needs to be fully understood that not only is real estate local, but it is hyper-local. What this means is that the trends that we hear about are overall. Let's put it this way, what's happening in one neighborhood, may not be realized in the neighborhood next door.

Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.

Single-Family Homes

69 homes sold during the month of August.

The average sales price is $172,855 with 152 days on the market.

The median sales price is $145,000.

The sales to list price ratio is 95%.

The most expensive home sold for $649,000 in the Estates of Wekiva Park and was on the market 410 days.

The least expensive home sold for $1600 in Canaan after 20days on the market.

The average sales price for the same period a year earlier was $247,132 with 141 days on the market with a sales to list price ratio of 92% on 31 sales, an increase of 123%.

The month to month changes show a decrease in the average sales price of 11% and a decrease in the median sales price of 12%. There was also an increase in sales volume of 5% with a 1% increase in the sales to list price ratio.

Condos, Townhomes & Villas

16 homes sold

The average sales price was $112,455 with 141 days on the market.

The median sales price was $106,500.

The sales to list price ratio is 99%.

The most expensive condo sold for $197,990 in Terracina at Lake Forest and was new construction.

The least expensive townhome sold for $34,000 in Arbors at Hidden Lake after 70 days on the market.

The average sales price a year earlier was $144,403 with 79 days on the market with a sales to list price ratio of 95% on 7 sales, an increase of 129%.

The month to month changes show a decrease in the average sales price of 3% and a decrease in the median sales price of 11%. There was a decrease in sales volume of 30% with a 4% increase in the sales to list price ratio.

For information on Sanford and Seminole County real estate and Sanford and Seminole County homes for sale in addition to Sanford and Seminole County relocation contact Marc Grossman, your Sanford and Seminole County Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his website.

Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034

You can read Marc's other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!

These smart homeowners didn’t have to lose their houses to foreclosure. Instead, they hired a real estate agent to help them sell their house as a Short Sale.

By finding a ready, willing, and able buyer, they were able to stop foreclosure proceedings in their tracks and walk away with a clean ‘financial’ bill of health. In some cases, they may have had to sign a promissory note for a percentage of their total obligation. The important thing, however, is that they were able to salvage the ruinous credit rating they would have incurred with a foreclosure. Better yet, in as little as two years — or even less — they’ll be able to purchase a new home with a conventional mortgage.

Street	Date Sold	Original List Price	Sold Price	Beds	Baths	Sq Ft	Pool
BELGIAN	08/31/09	$259,900	$145,000	4	2	1955	N
PORCHESTER	08/18/09	$434,900	$265,000	5	3	2969	N
MAGNOLIA PARK	08/24/09	$205,900	$176,200	4	3	2366	N
SOPHIA MARIE	08/21/09	$294,900	$205,000	4	2	1995	Y
WILLOWBAY RIDGE	08/27/09	$250,000	$195,000	6	4	3479	N
OSPREY HAMMOCK	08/07/09	$519,000	$426,000	4	3	3013	N
MARGARET	08/31/09	$149,000	$75,000	3	1	1369	N
SANFORD	08/27/09	$179,900	$110,000	3	2	1570	N
WHEATFIELD	08/28/09	$130,000	$131,000	4	2	2021	N
ELM	08/28/09	$125,000	$120,000	3	2	1318	N

Properties have been listed and sold by various MLS members. Data drawn from the My Florida Regional Multiple Listing Service. This report is valuable for estimating current market values in the designated community or subdivision.

What is a Short Sale?

A Short Sale occurs when market conditions make it impossible to sell a house at a price that allows the borrower to pay off the mortgage loan and associated closing costs in full. In these cases, the mortgage lender must agree to Short Sale terms before a house can be sold. Why? Because the payback of the loan will be ‘shorted’ a significant amount and the lender will be forced to take a loss.

Understanding How a Short Sale Can Often Help

Mortgage lenders must cooperate with borrowers in order to facilitate a Short Sale. Doing so helps them avoid the even higher costs associated with foreclosure proceedings.

Selling a house as a Short Sale can be complicated and time-consuming. The same proof of financial condition submitted when the homeowners first took out their home loan must be submitted anew in order to successfully settle the loan under Short Sale conditions. Lenders must evaluate each Short Sale on a case-by-case basis, and the approval process can often be long and frustrating ... or sometimes short and sweet.

Once a purchase contract is being considered for a Short Sale, foreclosure proceedings, if there are any, can usually be put on hold.

In order to approve a Short Sale, lenders take into account several factors, among them the borrowers’ personal and financial situation, local real estate conditions, the market value of the house, and the strength of the purchase contract. Borrowers must also make a convincing argument that they —

• Cannot keep up with loan payments due to unemployment, job relocation, divorce, medical expenses, or other long-term financial crisis
• Have no choice but to sell their house
• Can’t repay the loan in full given current market values

The Process of a Short Sale

Homeowners must jump through a few extra hoops, but these extra tasks are no more difficult than the process they originally went through to purchase their house.

• Put House on the Market - Because the borrower’s lender must validate that the house was marketed and contracted at arm’s length, a homeowner cannot sell the house on his own but must list it with a real estate broker.
• Short Sale Package - Once a Sale & Purchase Contract is finalized, homeowners must assemble personal financial information that will be submitted to their lender in support of making their Short Sale claim.
• Selling & Marketing Package - Your real estate agent should put together a Market Report reflecting the selling circumstances of the house as well as the real estate conditions of the neighborhood and town.
• Lender Approval - After the lender has received everything, they will order an Appraisal or Broker’s Price Opinion, which is an independent determination of the house’s market value. Then, after evaluating everything, the bank will make a decision.

As difficult as a Short Sale may be, it’s important for homeowners to be prepared for anything and to proactively deal with any problems that come along. It’s also important for them to also contact an attorney and/or tax accountant.

The following are the market sales statistics for Seminole County, Florida for July 2009. For purposes of this analysis we are only splitting the data according to single-family homes vs, condominiums, townhomes and villas.

A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time - in other words, it's the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it's specifically indicating which price range is more active.

The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.

The sales to list price ratio is just that, you're dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.

There needs to be a disclaimer here. These stats are only as good as telling us what it being purchased and happening at a certain period in time. Also, it needs to be fully understood that not only is real estate local, but it is hyper-local. What this means is that the trends that we hear about are overall. Let's put it this way, what's happening in one neighborhood, may not be realized in the neighborhood next door.

Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.

Single-Family Homes

346 homes sold during the month of July.

The average sales price is $226,518 with 126 days on the market.

The median sales price is $190,000.

The sales to list price ratio is 94%.

The most expensive home sold for $1.06M in Alaqua Lakes in Longwood and was on the market 74 days.

The least expensive home sold for $9,000 in Buena Vista Estates in Sanford after 363 days on the market.

The average sales price for the same period a year earlier was $301,744 with 152 days on the market and on 291 sales an increase of 19%.

The month to month changes show a decrease in the average sales price of 5% and a decrease in the median sales price of 4%. There was an increase in sales volume of 2% with no change in the sales to list price ratio.

Condos, Townhomes & Villas

136 homes sold

The average sales price was $83,054 with 114 days on the market.

The median sales price was $64,000.

The sales to list price ratio is 96%.

The most expensive condo sold for $270,000 at Lotus Vista in Altamonte Springs and was on the market 150 days.

The least expensive condo sold for $21,000 at Cabana Key in Casselberry after 21 days on the market.

The average sales price a year earlier was $162,017 with 113 days on the market on 61 sales, an increase of 137%.

The month to month changes show an increase in the average sales price of 2% and no change in the median sales price. There was also an increase in sales volume of 36% with a 1% increase in the sales to list price ratio.

For information on Seminole County real estate and Seminole County homes for sale in addition to Seminole County relocation contact Marc Grossman, your Seminole County Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.

To learn more about Marc and the services he has to offer, visit his website.

Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034

You can read Marc's other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker

Marc donates 10% of his net proceeds to Hospice of the Comforter.

Marc It Sold!