2013 was a productive and transitioning year in Real Estate for the Orlando and Tampa markets. A strong institutional investor presence was predominant through the first three quarters and has started to pull back a bit as they begin to prep the 3,000+ properties they purchased for rental.
I believe by the summer we will see a more level market in terms of owner occupant vs investor purchases of single family homes in the $100,000 - $225,000 price range. This is good news to those buyers who were essentially kept out of the market due to the above asking price cash offers that many of these investors were offering. Their target properties were/are: 3/2 single family homes, 1980 or younger, pitched roof, cinder block foundation, 2 car garage, pref no pool.
I also would not be surprised if we saws an larger than normal influx of new residents this summer due to the extremely harsh weather that most of the country experienced this past Winter. If this does occur, you will see an already limited real estate inventory become even more scarce. This is good news for sellers and for those buyers who wanted to wait until the summer to buy, you may want to think again.
Central Florida real estate is by no means out of the woods as it pertains to distressed properties and homeowners but signs are promising.
Rob Sassos
Broker/Owner
Simplicity: A Real Estate Brokerage Company
Servicing the greater Orlando and Tampa Bay residential real estate markets