I am sure that every Orlando Home Buyer has heard about the GLUT OF BANK FORECLOSED HOMES in ORLANDO that the banks are holding back and will release when these foreclosed properties are ripe for the Orlando home market…supposedly, this will flood the Central Florida Real Estate Market with lots of bank owned bargain homes.
This Orlando Buyers Broker no longer believes that!
Orlando Buyers Broker comments further that even if this phantom shadow housing inventory of Orlando foreclosure REO’s and Bank Owned Homes were to come to the Orlando Real Estate Market, it will be so diluted due to the Orlando shortage of homes available to buy that it will not be noticeable…now that part is for real.
In fact, It has been 3 years since I first started hearing about this wave of Orlando Foreclosure Homes coming and I have not seen any bunch of homes hit the real estate market, in fact the number of Orlando foreclosure homes are decreasing…as are all the regular inventory Orlando homes and Central Florida Homes. Do I believe that all these foreclosures are still coming? probably not…but either way, I have sure stopped waiting for it…
WHY? Because not only will more foreclosed homes not make a difference in inventory, I also don’t believe that they will be bargain priced either…banks are not giving away properties anymore. Multiple offers for bank owned properties are common.
Meanwhile there are still some bargains left so call me to chat about what is available. 407-539-1053
Copyright @ Buyers Broker of Florida 2012: “Orlando Buyer Broker opinion on Orlando Foreclosure Shadow Inventory”