HOUSINGNEWS REPORT
ORLANDO REAL ESTATE RECOVERS ITS MAGIC
The project calls for a 68-acre mixed- use infill development which is transit- oriented. A partnership between UCF and Valencia College, the downtown campus will be a prime example of a live, work and play development for the more than 7,000 students estimated
to attend the school and occupy the student housing to be built.
going on. Apartment construction has been growing. New home construction plus $10 million in new infrastructure. The airport is building a new terminal. Even Interstate 4 is getting a massive expansion. “ Commissioner Grieb said the city of Kissimmee has already built its first high rise and is building boutique hotels, townhomes, market rate apartments and retail. In the city of St. Cloud, there is a redevelopment effort going on in the downtown core. Cash is King Orlando took the number one spot on Forbes list of “Best Buy Cities: Where to Invest in Housing in 2018.” The ranking was based on average home price, population growth over a three-year time period, two-year job growth, one-year growth in home prices and projected growth in home prices over the next three years. Between its booming population numbers — including the expected growth in retirees and millennials who are drawn to the metro area’s strong job market, reasonable cost of living, and price appreciation — it comes as no surprise that Orlando came out on top. As the region’s foreclosure rate has dropped, so have the distressed deals available for real estate investors. Distressed sales — bank-owned sales, short sales and third party foreclosure auction sales — accounted for 12.0 percent of all home sales in the second quarter, down from 16.9 percent of all sales in Q2 2017.
“We really think this project will transform downtown’s core,” said Martinez. “You drive around Orlando and there’s definitely a building boom
ORLANDO HOME FLIPPING TRENDS
SINGLE FAMILY HOME AND CONDOS FLIPPED
HOME FLIPPING RATE (PCT OF TOTAL SALES)
2,500
18.0%
16.0%
2,000
14.0%
12.0%
1,500
10.0%
8.0%
1,000
6.0%
4.0%
500
2.0%
0.0%
0
ORLANDO HOME FLIPPING PROFITS
GROSS PROFIT
GROSS ROI
$70,000
70.0%
$60,000
60.0%
$50,000
50.0%
$40,000
40.0%
$30,000
30.0%
$20,000
20.0%
$10,000
10.0%
$0
0.0%
17
SEP 2018 | ATTOM DATA SOLUTIONS
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