Click this Link to Stop Foreclosure in Orlando

There is a large increase in the number of foreclosed homes on the market in Orlando’s resale market and the numbers have almost than doubled in 2010, this is really forcing down the prices of homes that have already taken a beating and lost more than 50% since before our recession.

The Foreclosure business may have slowed down in the courts, but there are record numbers or REO (Bank owned) properties and they are driving prices down waiting on new buyers.

The inventory of bank owned homes have skyrocketed. It is taking longer for the banks to find buyers and in return when supply is high and demad is low – prices drop.

The four counties surrounding Orlando inclusing Orange County had 13,712 REO properties in January, up from 5,874 a year earlier, the records come from a tracking company RealtyTrac. The entire state of Florida has been saturated with more than 104,000 foreclosed properties that are on the market to be sold. There are record numbers nationwide which exceeded 1 million bank-owned homes in January.

Even so there are foreclosed homes with good prices, great locations and in good condition quickly receive multiple offers. As a for instance, many of the bank owned homes for sale in teh MLS in northwest Orange county and southwest Seminole county have been sitting on the market for months and of the 228 REO properties listed in Apopka-Altamonte Springs and Longwood area, 40% had been on the market for at least two months.

Although Orlando’s inventory of bank owned homes has occasionally dipped from month to month since RealtyTrac began tracking the numbers three years ago, the Orlando market inventory has increased fourfold.

Do not lose your home to foreclosure. We have options to help save or sell your home. Contact us to stop foreclosure in Orlando.