ForeclosureDeals offers a solid database of Orlando bank owned foreclosure homes and Orlando government foreclosed homes for sale from federal agencies such as: HUD, VA, FHA, Freddie Mac, Fannie Mae, USDA. These Orlando repossessed homes can be found in a number of ways, such as pre foreclosures, short sales, foreclosure auctions, flipping homes, bankruptcies and home foreclosures for sale in Orlando, FL. Our up-to-date real estate foreclosure listings in Orlando offers cheap distressed properties for buying & investing, in a great variety of properties like commercial & residential, multi & single family homes, lands, condos and apartment foreclosures in Orlando area.
Sun, fun and hot homes for sale! The real estate market in Orlando has a major influx of multi-family dwellings and apartment complexes. Proprietors need not fear for available commercial space, however, as cheap land prices and incredible deals on buildings for sale is an open opportunity to start a business or invest in the home of the world's most famous amusement park. Featuring sun-kissed trees and warm temperatures, this northern Florida city boasts world-class restaurants, headlining shows and shopping that would make 5th avenue blush and prices that are cheaper than those you will find from its northern neighbors. Take advantage of these opportunities and start searching for foreclosed homes for sale in Orlando, FL now!
In any economy, cities with a lot of attractions, employment opportunities, and other amenities and draws are very attractive to potential homeowners and investors alike, primarily because of their desirable locations and unbeatable features. Tourist cities in particular are attractive because of the hum of commercial and economic activity that takes place throughout the year.
Orlando, Florida is a shining example of how a city with a tourist-centric economy has a wealth of housing available to savvy homebuyers and investors. One of the nation's most visited cities, Orlando is an entertainment and tourism hub best known for being the home to Walt Disney World Resort, Universal Orlando Resort, SeaWorld, and a host of other major attractions along its famous International Drive. Over 51 million people visit each year, either for entertainment or for business conferences, and the metro population of 2.13 million is the 26th-largest metro area population in the U.S.
Here we will uncover some helpful information for investors looking to Orlando for real estate potential.
In Orlando, the median list price usually hovers around $96,000 - which is incredibly cheap compared to many other large cities, especially along the Atlantic seaboard. This number breaks down to roughly a $68 median value per square foot, ranging from a low of $29 value per square foot in Richmond Heights to a high of $175 in South Eola. Orlando's foreclosure rate typically is significantly higher than the national average, with one out of every 266 properties being in the foreclosure process at any given point. The national average is one out of every 624 units.
In Orlando, many people make their decisions on which house to buy based off two essential factors: low foreclosure rates and centrally-located areas. Getting around Orlando quickly is important because the high level of tourism can create gridlock at times. This is why some of the most valuable property is either downtown or in the Lake Nona/Orlando International Airport vicinity. Plus, low foreclosure rates mean the local market in the neighborhood is relatively stable.
Per this criteria, some of the best areas to live in or near Orlando include College Park, Dr. Phillips, Lake Nona, Maitland, Metro West, Millenia, Windermere, and Winter Park.
Florida has one of the longest foreclosure processes in the country, typically taking over 200 days to process a foreclosure from start to finish. This is because Florida foreclosures are purely judicial foreclosures and must go through the court system. As a result, home foreclosures coming to the market in Orlando were more than likely filed close to seven months ago, giving you an idea of the lead time required for a pre-foreclosure property to hit the market. Orlando in particular has a lengthier process than many other Florida cities because of the high rate of foreclosures in the area.