Southwest Orange County Florida Real estate in Demand

Much anticipated numbers were reported for available homes for sale in Central Florida this month. After having seen the supply of homes trend downward the past few years from an all time high in 2007 of 26,000, Central Florida finally hit below 10,000 properties for sale. Southwest Orange County real estate has benefited greatly by not only having less homes for sale but also a reduction in distressed properties as well.

Real estate is still about supply and demand, how many homes for sale compared to how many buyers that are ready, willing and able to purchase. Let's start with the supply side and see how this greatly affects real estate markets.

Especially in sought after markets like Southwest Orange County that feature some of Central Florida's prime real estate like Dr Phillips, Windermere and Winter Garden, declining inventory levels create a real time incentive among buyers to purchase now before it's to late. It dosen't take buyers long after missing out on offers submitted in these sought after markets to understand you don't have to be a desperate buyer but you do have to be an aggressive one.

With only 27 bank owned single family homes for sale in Dr Phillips, Windermere and Winter Garden combined, it's no surprise buyers are purchasing these properties the fisrt few weeks on the market. Looking at the past 90 days in these communities there have been 53 bank owned homes sold at an astounding average purchaee price of 97 percent of list price.

And how about those ready, willing and able buyers? For willing buyers, with five years of declining home prices buyers are seeing value. Basic economics is gradual decreases in price until value returns and that's exactly what has happened. Willing? you bet they are willing to purchase, if there is one absolut about real estate, it always changes.

How about ready buyers? Consumers move every 5 to 7 years and the past 5 years have been the slowest movement in recent history. Consumers are ready but it brings us to the last equation, able buyers.

Make no mistake the worst of the worst is over, in first quarter of 2009 banks just were not lending. Everyone was holding on to cash and it didn't matter what list price you had on a property, no one was buying. Today banks have loosened their strings, don't get me wrong not to where we were in 2005 but headed toward a normal market and normal lending practices. A stronger economy and getting unemployment numbers under 7 percent will only help get more "able" buyers into the market place which will drive inventory levels down even further.

If you are a ready, willing and able buyer don't let this opportunity in a life time pass you up. Search the latest homes for sale in these sought after communities, updated daily!

• Dr Phillips Real Estate Orlando, Florida
• Windermere real estate and lake front homes
• Winter Garden real estate