We’ve noted the Orlando condo dry up and the buyer’s market before – but there are stillÂ those who just don’t believe it, despite the fact that I tried to put a bid on a bank owned deal this morning, only to discover they already had a dozen cash offers.
The latest news from California is that their foreclosure inventory is also stabilizing. “Some houses go under contract fewer than 90 minutes after they are put on the market”, says Brad Geisen, founder of Foreclosure.com.
So you can either believe what you see on the news, or you can talk toÂ real agentsÂ in the trenches and get the real scoop. Forget the national picture, there’s no such thing;Â look insteadÂ at what’s going on in your particular city and state – and let the data speak for itself.
Orlando condo foreclosures are a finite product and prices are already being driven up by investors inÂ bidding wars.
So if it’s an Orlando condo you’re after, you better get moving because bottom is here. Expect to bid cash on 5 or 6 deals before you get one.
You might just be sick if you don’t.