For October, there are so many homes for sale in Orlando, it has created a glut in the market. This means there's a lot of choice for buyers right now. Not only that, it means motivated sellers are lowering their prices in order to attract quick sales. Obviously, this is good news for buyers.
Perhaps it was last year's seller's market that gave everybody the idea to sell. Whatever the reason, the tables have certainly turned for Orlando buyers. Another benefit to buyers are the increasingly low interest rates. Considering that we are moving into the fourth quarter of the year, now is the time to seriously start your home search. Interest rates may get lower before the new year, but after that they are very likely to increase. They certainly can't stay low forever, so now's a good time to take advantage of these record interest rate lows.
Because there are so many homes to choose from, sellers have to work extra hard to attract attention to their homes. This means that many are doing all the needed repairs and maintenance necessary to make their homes not only more attractive, but also more sound, making them a good investment for buyers. Those without the budget or time to do upgrades are typically lowering prices. Either way, the buyer gets a good deal.
Although I encourage you to hurry up and buy before the new year, I also urge you to take your time to find the home to suit your needs. Why not take advantage of the choice out there right now? Whenever possible, do a drive-by of any homes that intrigue you. If a home is within your pre-approved budget, and still appeals to you after an initial look at the exterior and the neighborhood, don't hesitate to contact a qualified Orlando Realtor® for a home showing.
If you are considering relocating to Orlando from another part of the state, country or world, or are considering buying a second investment property, now is an excellent time to do it.