Carri Schoeller Realtor ABR, e-PRO Orlando Luxury Homes For Sale

If there ever was a time to visit Orlando - this would be the weekend! Orlando is hosting the 2012 All Star Basketball game and will be crawling with the who's who in the basketball world as well as as A List Hollywood celebrities.

It's also no coincidence that President Obama visited the home of Vince Carter in the luxury community of Isleworth in Windermere filled with NBA basketball stars willing to shell out $30,000 per plate fundraiser. Orlando is getting international exposure this weekend as the All Star game will be broadcasted in 215 countries in 44 languages. You couldn't buy that type of exposure voiced by Orlando Mayor Buddy Dyer.

The city estimates that roughly 60,000 people will be visiting the community this weekend, with 27,000 hotel room nights booked and an $80 million to $100 million in economic impact.

Let's not forget the Daytona 500 Nascar Race where thousands will be visiting there as well as Orlando.

With that amount of people visiting the area, most locals will be very happy to stay put in their homes in front of the TV to watch these two sports and not dealing with the traffic nightmares that are sure to occur.

With the worst Real estate market in 75yrs, we have become accoustomed to bank foreclosures and short sales as the norm However, Real Estate being cyclical, we just might be exiting this cycle of massive foreclosures and entering a more "normal" real estate market in the near future.

Foreclosures have decresed by 8.4% or - 130,000 in 2011 according the research by CoreLogic. The pace at which properties are entering foreclosue is slowing and the banks stepped up their rate at which they were able process distressed assets.

Lenders are being much more cautious who they lend to putting even qualified buyers through a string of hoops before they will approve a mortgage. They are also being more cautious to jump the gun and foreclose on a homeowner in trouble since they got in trouble with the robo signing.

Banks also are doing more loan modifications to prevent foreclosures. And when a home does land in foreclosure, banks are trying to process them faster or trying to encourage a short sale.

So if you are a buyer looking for a home, the time is now to get these deals because they WILL not last forever. We will return to a normal real estate market and you will long for the days when you could have found a home for these low prices.

Thurs evening in the gated community of Waterfort Pointe in Windermere FL, this 7,000 sq ft home under construction was destroyed by fire. Investigation is underway but possibly could be arson. Here is a picture of a home that is in that community that could be similar to the one the burned. This home is 5800sq ft. If it is found out to be arson, everyone pays with higher insurance rates.

ORLANDO HAS PRES OBAMA VISITING DISNEY WORLD AT CINDERELLA'S CASTLE

Orlando #1 tourism destination in the world and Pres Obama is only the fourth sitting president to visit Disney World. Pres. Obama is going to talk on how to make it easier for international visitors to obtain visas to visit US. Brazilians love coming to Orlando and spend on an average of $6,000 while here but it has been difficult for them to get visas to visit. Hopefully this visit will change this. More international tourists will also boost vacation housing market as many want second homes here.

Some Great news for buyers and sellers! The time has come and it is now to get that new home. Orlando's numbers are up. Increase in prices year over year. Watch video for more info.

Real estate firm says Orlando home prices forecast to increase: MyFoxORLANDO.com