Winter Springs, FL

The following are the market sales statistics for Winter Springs, Seminole County, Florida for August 2009. Winter Springs is made up of the zip code 32708. 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

27 homes sold during the month of August.

The average sales price is $183,422 with 108 days on the market.

The median sales price is $175,000.

The sales to list price ratio is 94%.

The most expensive home sold for $317K in Chestnut Ridge and was on the market 314 days

The least expensive home sold for $50,000 in Deersong after 363 days on the market.

The average sales price for the same period a year earlier was $269,958 with 143 days on the market and a sales to list price ratio of 93% on 28 sales, a decrease of 4%.

The month to month changes show a decrease in the average sales price of 23% and a decrease in the median sales price of 20%. There was a decrease in sales volume of 16% with a 1% decrease in the sales to list price ratio.

Condos, Townhomes & Villas

12 homes sold

The average sales price is $95,678 with 226 days on the market.

The median sales price is $89,500.

The sales to list price ratio is 93%.

The most expensive townhome sold for $169,170 in Heritage Commons and was new construction.

The least expensive condo sold for $27,000 in Sheoah in The Highlands after 78 days on the market.

The average sales price a year earlier was $169,471 with 140 days on the market and a sales to list price ratio of 94% on 7 sales, a 71% increase.

The month to month changes show an increase in the average sales price of 20% and an increase in the median sales price of 3%. There was an increase in sales volume of 140% with a 3% decrease in the sales to list price ratio.

For information on Winter Springs and Seminole County real estate and Winter Springs and Seminole County homes for sale in addition to Winter Springs and Seminole County relocation contact Marc Grossman, your Winter Springs 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 house 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
HUCKLEBERRY	08/19/09	$259,500	$157,500	4	2	1974	Y
SPRINGVIEW	08/12/09	$359,900	$250,000	4	3	2400	Y
WINTHROP	08/21/09	$265,000	$255,000	4	2	2402	Y
LANCERS	08/28/09	$100,000	$100,000	3	2	1096	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.

These smart homeowners didn’t give their bank the chance to foreclose on their house. Instead, they hired a real estate agent to market their houses on the My Florida Regional Multiple Listing Service (MLS).

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	Sale Price	Beds	Baths	Sq Ft	Pool
REDTAIL	7/7/2009	$239,900	$180,000	3	2	1613	N
STONE GABLE	7/22/2009	$190,000	$212,300	4	2	1877	Y
CHESTERFIELD	7/10/2009	$199,900	$185,000	3	2	1759	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 Winter Springs, Seminole County, Florida for July 2009. Winter Springs is made up of the zip code 32708. 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

32 homes sold during the month of July.

The average sales price is $237,318 with 123 days on the market.

The median sales price is $219,900.

The sales to list price ratio is 95%.

The most expensive home sold for $500K in Grand Reserve and was on the market 588 days

The least expensive home sold for $60,000 in North Orlando Terrace after 192 days on the market.

The average sales price for the same period a year earlier was $315,076 with 128 days on the market with a sales to list price ratio of 95% on 38 sales, an decrease of 16%.

The month to month changes show an increase in the average sales price of 1% and an almost imperceptible decrease in the median sales price. Yet, there was a decrease in sales volume of 37% with a 2% increase in the sales to list price ratio.

Condos, Townhomes & Villas

5 homes sold

The average sales price is $79,727 with 62 days on the market.

The median sales price is $87,136.

The sales to list price ratio is 96%.

The most expensive sold for $100,000 in Barclay Reserve Townhomes and was on the market 24 days.

The least expensive sold for $53,000 in Casa Park Villas after 210 days on the market.

The average sales price a year earlier was $172,199 with 81 days on the market with a sales to list price ratio of 98% on 4 sales, a 25% increase.

The month to month changes show a decrease in the average sales price of 34% and a decrease in the median sales price of 30%. There was a decrease in sales volume of 38% with a 2% increase in the sales to list price ratio.

For information on Winter Springs and Seminole County real estate and Winter Springs and Seminole County homes for sale in addition to Winter Springs and Seminole County relocation contact Marc Grossman, your Winter Springs 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!

Located in the northern suburb of Winter Springs, just west and north of Oviedo, Tuscawilla is often considered a distinct town. As a master-planned community containing over 4,500 homes, Tuscawilla has the feel of an exclusive enclave comprised of neighborhoods biking trails; a nature trail; tennis courts; parks with playgrounds, basketball courts, soccer fields, and baseball fields.

Enjoy the Tuscawilla Country Club, which includes an 18-hole golf course, tennis courts, pool, dining facilities, pro shops, and clubhouse. Club membership is not required but convenient, as is the nearby Greeneway Tollway 417, the University of Central Florida, and the Oviedo Marketplace Mall. Plus don’t forget the outstanding schools Seminole County is renowned for.

Street	Date Sold	List Price	Sale Price	Beds	Baths	Sq Ft	Pool
CHESTERFIELD	7/10/2009	$199,900	$185,000	3	2	1759	N
OAK CREEK	7/30/2009	$495,000	$430,000	5	4	3535	Y
ARABIAN	7/15/2009	$399,900	$375,000	4	2	2611	Y
CHESTNUT RIDGE	7/27/2009	$374,900	$339,000	4	3	2347	Y
BLACK CHERRY	7/31/2009	$339,000	$315,000	4	3	2344	Y
TARPON	7/27/2009	$289,000	$245,000	3	2	2613	N
SENECA	7/31/2009	$329,900	$318,500	4	3	2489	Y
WYCKLIFFE	7/24/2009	$289,900	$275,000	4	2	2190	Y
WINGED FOOT	7/15/2009	$259,900	$213,000	3	2	1804	N
CARRINGTON	7/17/2009	$329,900	$315,000	4	2	2600	Y
BARRINGTON	7/21/2009	$239,000	$226,800	3	2	1480	Y
ANDOVER	7/29/2009	$199,000	$206,000	3	2	1628	N
WHITEHALL	7/31/2009	$235,500	$205,900	3	2	1628	N
SARANAC	7/23/2009	$420,000	$355,000	4	3	2869	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.