Orlando appraiser, Orlando foreclosures 10th highest in USA. Orlando homeowner foreclosure future

Mid-State Appraisals is Orlando and Orange County’s preferred residential real estate property appraiser providing high quality, competent appraisals in a timely manner.

  http://www.midstateappraisals.org

   midstateappraisals@earthlink.net 

Mid-State Appraisals staff has 20 years combined real estate experience of appraising properties in Orlando and Central Florida. They offer competitive fees, service 6 counties, are approved with nearly all major lenders, use the latest in computer technology, provide fast, consistent turnaround time and are licensed and insured by the State of Florida.

http://www.midstateappraisals.org

midstateappraisals@earthlink.net

Nearly 30 consecutive months of decline Orlando’s existing home sales have remained dismal. Bank repossessions and foreclosure proceedings are never pretty. As the economy sinks lower and the global credit crunch tightens, this scenario of foreclosures will likely continue in Orlando through 2010.

The Orlando Regional Realtor Association has begun tagging foreclosed properties in its giant Multiple Listings Service database. Perhaps an indication of an ongoing trend likely to continue throughout 2010.

Among the real estate sales in Orlando, it is said that over a third of home sales come from distress sales, bank owned resales, bank endorsed short sales, and foreclosure proceeding sales caused by delinquent homeowners either unable or unwilling to pay their mortgages.

Central Florida and Orlando Metro Realtors are therefore changing their approach to home sales foreseeing up to half of all home sales in 2010 to come from distress deals.

Sizeable reductions and losses in value continue to occur during the typical distress sale scenario. Currently, between a fifth to a third of the home values are being lost during foreclosure proceeding sales.

Even savvy buyers eager to buy distressed properties are becoming increasingly reluctant given the risks of buying properties with damage as disgruntled former homeowners flee with anything of value (i.e., air conditioner units, copper plumbing, and appliances) during foreclosure proceedings.  The extra work needed when repurchasing a repossessed property can be enough to discourage even the most astute real estate entrepreneur given volatile fluctuations in the market. Hence such a large supply of housing is driving down prices, as demand itself is rather minimal during these uncertain economic times.

The prices of homes resold in the Orlando area are down between 10 to 25% since last year with distress sales being reduced the greatest in value. Homes ordinarily selling for approximately $125 per square foot previously are now going for $100 a square foot when banks involved agree to take less than the loan balance for the delinquent homeowner. Bank owned homes are going selling for about $80 a square foot when all administrative costs and losses are fully considered.

Arguably, the amount of distressed homes for sale on the market are causing normally priced homes to come down in price to be competitive when desiring to procure a sale. Homeowners desiring to sell can therefore expect reductions up to 10% of the asking price of their home unless they are willing to patiently wait for a generous buyer, while remaining in their home.

Next to California, Florida is the 2nd worst hit state in home foreclosures. Moreover Orlando has the 10th-worst foreclosure rate in metro areas throughout the country. When over a fifth of the single family homes in the Orlando metro area on the market are short sales or foreclosure properties, this is very unsettling for homeowners trying to sustain their property values.

Mid-State Appraisals is Orlando and Orange County’s preferred residential real estate property appraiser providing high quality, competent appraisals in a timely manner.

   http://www.midstateappraisals.org

   midstateappraisals@earthlink.net

Mid-State Appraisals founder Paul F. Davis has outstanding qualifications:

                                    http://www.midstateappraisals.org

                                    midstateappraisals@earthlink.net

 

– State Certified Residential Real Estate Appraiser (License RD # 2667)

 

– Licensed Real Estate Broker (License BK # 161133)

 

– State Certified Building Contractor (License CBC # 040794)

 

– Over 20 Years of Professional Service to Orlando and Central Florida

 

– Unparalleled Knowledge and Outstanding Experience

 

– Efficient, Attentive, and Committed to Clients Needs

 

http://www.midstateappraisals.org

midstateappraisals@earthlink.net

 

Mid-State Appraisals provides professional services to Orlando – Orange, Lake, Seminole, Osceola, Sumter, and the Davenport area of Polk County. Mid-State Appraisals services are provided by committed professionals, dedicated to quality work, detailed research, and timely completion of assignments. Expect a speedy, accurate, and no hassle appraisal.

 

All appraisal reports comply with the Uniform Standards of Professional Appraisal Practice (USPAP).

 

Mid-State Appraisals staff has 20 years combined real estate experience of appraising properties in Orlando and Central Florida. They offer competitive fees, service 6 counties, are approved with nearly all major lenders, use the latest in computer technology, provide fast, consistent turnaround time and are licensed and insured by the State of Florida.

 

http://www.midstateappraisals.org

midstateappraisals@earthlink.net

 

[b]Paul Davis[/b] is a trusted and reputable property appraiser frequently called upon by Orlando and Central Florida’s banks, homeowners, and savvy real estate investors to assess property values. A builder for over 20 years and also a real estate broker, Paul Davis brings a wealth of knowledge to the table as an appraiser.

 

Paul’s company Mid-State Appraisals serves Central Florida (Orlando – Orange, Lake, Seminole, Osceola, Sumter and Davenport in Polk counties).

 

[b]Contact Paul Davis and Mid-State Appraisals for your next appraisal: [/b]

 

Office: 352-242-9973

 

Cell: 352-636-6672

 

Fax: 352-242-4912

 

midstateappraisals@earthlink.net

 

http://www.midstateappraisals.org

 

Orlando real estate property appraiser and specialist providing high quality, competent appraisals in a timely manner. Mid-State Appraisals founder Paul Davis is an appraiser, broker & builder w/ over 20 years professional service in Orlando and Central Florida.

 

 

Orlando appraiser discusses Orlando foreclosures at 10th highest in the USA. Orlando homeowner foreclosure fears & future for Orlando real estate market. Foreclosures national attention, as homeless rate rises. Appraiser predictions amid foreclosures.

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