Has real estate market landed in Central Florida markets

Central Florida's Dr. Phillips homes, Windermere and Orlando real estate markets are seeing an increase in buyer activity which bolds well going into Spring and Summer months. Agents in the office are walking with a jump in their step, phones ringing, buyers in conference rooms and offers and contracts are being signed, Gang, I think we hit bottom, in some markets.

Take a look at the numbers from the Orlando Regional Realtors Association last month, we don't have March numbers but I have a strong feeling when they do come out we'll see significant increases in properties going under contract and closing.

If you're wondering why we're not hearing this on the local news it's because they talk about previous month's activity. Sure we want to know trends so that we get a good idea of where we're going but I'm talking about March and what's going on now. The bottom of the market doesn't mean everyone can purchase either. Banks are still very tight with lending, it's a buyers market because the inventory levels are still very high but not a borrowers market. We are seeing more cash and multiple offers on bank owned homes which tend to be some of the better deals.

Make no mistake the economy's struggling and there are a lot of variables that could throw cold water on any market come back but investors are picking up properties and many times more then one. Central Florida's real estate market came crashing down in 2006 and the climb up will be slow and methodical with hiccups along the way. One thing is for sure the real estate market will come back and we'll know we hit bottom when we see significant increases in pending and closed properties. Waiting for the absolute bottom of the market you may be waving at a boat that already sailed and much of the leverage a buyer had in the past would be gone playing on a more leveled playing field.