Orlando Foreclosure Homes; Winter Buyers Bargains

By: philip smith

What more in great incentives do buyers need to shop among Orlando foreclosure homes for their next investment, family home, retirement dream home or second or holiday home?

Just the mention of Orlando should muster up images of the attractive climate of Central Florida (average temperature of 72.5 degrees), the unlimited tourist attractions, and the exciting locations for families, individuals and seniors.
Orlando, as America's best-known entertainment destination, has a parade of fun attractions for families including Disney-MGM studios and Disney World. The amenities of greater Orlando benefit both residents and tourists. Real estate is doing its part to attract residents by building gated communities with a range of facilities to attract retirees and younger working people who want more peace and security with fewer weekend maintenance chores.

The Orlando area is now one of the largest metro areas in the nation, having attracted more than one million residents in the past 20 years. The Greater Orlando area, consisting of Orange, Seminole, Osceola and Lake Counties, has a population of almost 2 million. The population has become younger as it has grown, with a median age of just 35 and Orlando's cost of living at 99.2 is slightly below the national average.

So, now that we have established beyond a doubt that Orlando attracts, why, when this season there are so many home sellers and inventories of unsold family homes are at record levels, do the buyers hold back? Savvy home buyers will soon realize that November through March is the best of seasons ever to buy foreclosures, and a foreclosure deal in Orlando means 20 to 40% off average selling prices or more depending on the motivation of the seller (borrower in default or lender/bank owner), and the depth of knowledge the would-be foreclosure buyer has of the various financing strategies available to him. In common with much of the Florida real estate market, foreclosure properties dot the landscape urban and suburban, affordable housing and luxury lifestyle property, inner city modern apartment and quiet single family bungalow. The cautious buyer can still make his choice avoiding the more obvious pitfalls of the 'as is' nature of some listings, or the risks inherent in first time negotiating for a home in pre foreclosure. The buyer is king, just one more great incentive to invest in Orlando.

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