Thornton Park - Rentals Command Top Prices + Path to Home Ownership

In the past six months, rentals in Thornton Park and the 32801 area code, in general, have crept ever higher: The Average rental on the MLS (Rentals are found on other sites, true, but the MLS is a sound benchmark of information)in 32801 leases on average for  $1,820+/month, for 1129 sq feet of living space. When an average active listing in 32801 posts for $2,242/month (current average for August, 2016), it's worth it to consider an option that can put you in a rental (that allows for pets, up to 180lbs, total poundage!) you could ultimately purchase - 
If that idea interests you, email me at PositivelyRealEstate@gmail.com for a rundown of the program -

Here is a breakdown of the non-condo, residential rentals listed/leased in the past 6 months, via MLS for the Thornton Park area in 32801. Note that rental costs are steeper than average for 32801. Also note that this area is one of the most "pet-friendly" of any location in Central Florida - 

Address	Status	Sq Ft Heated	Current Price	Pets Allowed Y/N
815 E SOUTH ST	Active	950	$1,550.00	TRUE
415 E PINE ST  #808	Active	1246	$1,800.00	FALSE
1207 E JEFFERSON ST	Active	1400	$1,850.00	TRUE
40 N HYER AVE	Active	1462	$1,875.00	FALSE
101 S EOLA DR #1021	Active	1198	$2,250.00	TRUE
356 S OSCEOLA AVE #6	Active	1703	$2,285.00	TRUE
465 E SOUTH ST #200	Active	1731	$2,450.00	FALSE
119 N THORNTON AVE	Active	1118	$2,500.00	TRUE
28 HILL AVE	Active	1310	$2,950.00	TRUE
623 JACKSON ST	Active	2200	$4,000.00	TRUE
617 JACKSON ST	Active	2200	$4,500.00	TRUE
104 S LAWSONA BLVD	Active	3452	$7,350.00	TRUE
Average Active TPark Rental		1664.167	$2,946.67
112 LAKE AVE #2	Leased	400	$850.00	TRUE
116 N MILLS AVE	Leased	550	$900.00	FALSE
225 S SUMMERLIN AVE	Leased	867	$1,200.00	TRUE
815 E SOUTH ST	Leased	925	$1,450.00	TRUE
710 E CENTRAL BLVD	Leased	1528	$1,500.00	TRUE
817 E SOUTH ST	Leased	970	$1,550.00	TRUE
1504 E WASHINGTON ST	Leased	1127	$1,700.00
1313 E CENTRAL BLVD	Leased	1317	$1,795.00	TRUE
465 E SOUTH ST #25	Leased	1455	$2,100.00	FALSE
101 S EOLA DR #1102	Leased	1198	$2,300.00	TRUE
1514 E CENTRAL BLVD	Leased	2144	$ 2,250.00	TRUE
Average Leased TPark Rental		1134.636	$1,599.55

Active Residential, Non-condo listings in the same area are listed below. Overall the market for the area is fairly neutral: Although sales in July in 32801 are up 25% over last year, the total closed sales are down 18%, overall, year-to-date. Inventory is as low as it's been since 2014, and price ft/sq is at an average of $225/sq ft.   Note  the listings below:  having one specific type of townhome enter the market "skews" the averages upward:

Numbers can be deceiving, so feel free to reach out to me to find out what lies 'underneath' the percentages - !

Active and Sold Non-Condo Listings in the Thornton Park Area:

Address	Status	Current Price	SqFtHeated	CDOM
131 S LAWSONA BLVD	Active	$   279,800.00	1349	71
1109 E JACKSON ST	Active	$   299,000.00	950	6
910 E CENTRAL BLVD	Active	$   349,900.00	1554	303
901 E PINE ST #4	Active	$   399,900.00	2001	155
230 THORNTON LN	Active	$   544,900.00	2226	26
620 MARIPOSA ST	Active	$   657,000.00	2551	92
228 S SUMMERLIN AVE	Active	$   659,000.00	2138	635
624 MARIPOSA ST	Active	$   659,000.00	2109	113
646 MARIPOSA ST	Active	$   659,000.00	2509	92
654 MARIPOSA ST	Active	$   659,000.00	2095	41
632 MARIPOSA ST	Active	$   659,000.00	2095	41
650 MARIPOSA ST	Active	$   670,000.00	2109	41
658 MARIPOSA ST	Active	$   680,000.00	2118	113
1001 HARWELL ST	Active	$   769,000.00	2867	15
121 S BROWN AVE	Active	$   799,000.00	3983	89
104 S LAWSONA BLVD	Active	$1,225,000.00	3452	86
Average Active Listing, TPark		$   623,031.25	2256.625	119.9375
412 DANIELS AVE	Sold	$   200,000.00	1224	5
1919 E SOUTH ST	Sold	$   240,000.00	1811	37
150 S THORNTON AVE	Sold	$   424,000.00	1736	32
219 S LAWSONA BLVD	Sold	$   474,000.00	2616	390
810 E CENTRAL BLVD	Sold	$   685,000.00	2957	162
Average Sold Listing, TPark		$   404,600.00	2068.8	125.2

Thornton Park and Downtown Orlando : Why I Love October for Real Estate, Here -

Ahhh, October! For some of us, it's the month that marks the end of the hot, humid summers and the beginning of weather - and outdoor activity - that makes our home the envy of our Northern friends - 

I get many questions at this point on the calendar from people who ask whether they should list during the holidays.

Answer: YES

Reason: INTERNET

Behold this Trendgraphix® chart showing activity for the past couple years in 32801 and 32803, combined- Where do you see the largest upticks in the red line (contracts pending and preparing to close)?  February! 

All those holiday hours of  social togetherness creates time... for people to hide in their phones and computers to surf the internet and look at homes! I've been preaching this theory for a while, but it does bear repeating -- 

---And when is the lowest inventory available (the least competition for you and your home)? December/January/February! Why list when everyone else is doing the same thing and increasing competition for sales?

With all the rumblings about interest rates increasing (I know it's discussed constantly, but the Federal Reserve is getting pretty firm on the idea-) and the possible end-of-year upticks as people try to hurry transactions before the end of 2015, Fall may be your prime time to benefit from listing and/or purchasing. 

For the latest Freddie Mac interest rates click HERE. As I write this blog, today, rates are holding at 3.85% on average, with .6 in points.

Here is just the past 30 days worth of activity for residential properties on the MLS  - Not condominium activity, but all other residential homes:

Average price for Sold listings in Thornton Park, and spots surrounding for Sold Listings was $241,800.00 for a 3BR/1.4 (not even '.5' ) for Baths.  Continuous Days on Market (CDOM) are very low, at 34.2 days, on average.

Active listings are getting pricier, and while they are still selling, the average current price of Actives is much higher than the sold inventory ($459,200.00+).... as is the count for bedrooms/bathrooms (3.5 bedrooms, on average and 2.6 baths). Average Square Footage is decidedly higher for Active listings as well (2029 sq ft), compared to Solds (a very lean 1200 sq ft).The CDOM for Active listings is at 92 days, give or take* which indicates a bit more lag time at the higher price points.

Critical to know: October 3rd, 2015: Changes in TILA-RESPA:

If you are planning to finance in order to purchase a home, but you are not yet under contract, my hope is that you know that big changes are underway that will affect closings and procedures you may have used in the past.  

Click HERE for the link to the "Know Before You Owe" section of the Consumer Finance Protection Bureau.

The goal is that better information shall be provided to buyers within a reasonable time for review, plus increased privacy of presonal/financial information that will benefit both buyers and sellers.  However, the learning curve will be a long one, as every moving part in a real estate transaction will experience adjustments. 

If you have questions or comments about anything in today's entry, feel free to email me at Shelley@PositivelyRealEstate.com, or visit my website, www.positivelyrealestate.com.

Enjoy the month!

Click HERE for information on all Residential Real Estate Activity in the 32801, 32803 zip code areas (Translation: Downtown Orlando) 

*Please note that I pulled stats from The Brownstones development out of the chart because of home construction skewing the Days On Market. At 111 days on average (on the MLS) for three ACTive listings on this build, the DOM indicators for the total residential properties in the area would show as falsely longer on the market with this set of (very nice) listings included. 

Variety of Home Prices Creates Compelling Mix in TP Neighborhoods -

Summer has been active in the Thornton Park-area residential market: the chart (below) reflects activity over the past 6 months on the MLS. 

Very few of the properties listed are "distressed" (3 out of 38), and overall the market has shifted from a "Buyer's Market" in March to a Neutral Market today (Buyers may have to compete more aggressively for their chosen home, and sellers are consistently receiving competitive offers.) - 

Interest rates are still hovering in the low 4% area (about 3.9% for a 30 yr. fixed, according to Freddie Mac yesterday) for the time being, but the variety of prices and types of homes indicates a need for very individualized property analysis - if listing your home is a possibility.  

Contact me if you wish to see where your home falls in the line of active properties - 

A Buyer's Market in the Thornton Park Area -
Below is a chart showing all Active, Pending, and Sold residential real estate activity reported by the MLS in the past 30 days in Thornton Park and in close-by locales.

A "buyer's market" means there is a 6-month supply of Active listings, whereas a "seller's market" is indicated by a 3-months or fewer supply of homes available to buy.
If you have questions about buyer/seller/neutral markets, click HERE to send me a message, and I'll be happy to explain further -

An abundant number of Active listings are staying fairly close to their asking price, which shows that Thornton Park Sellers (that price well) will still garner good returns for properties (the average Sold price in 32801 is $380,000, including 'distressed properties,' which a price that is up 49% from sales at this time, last year).
HOWEVER, homes remain on the market a longer period of time (DOM = Days On Market), which can affect a Seller's expenses - and sanity - as the clock ticks on.

To search all residential listings, click HERE for the latest information for Thornton Park, or for
anywhere in Central Florida -

Rental Activity in Thornton Park: July 14th, 2014

The Residential Rental Market has been lively in Thornton Park :

For the Past 30 Days
69 Residential MLS Rentals were the focus of market activity:

22 Properties LEASED in the past month.
Average Unit = 1149 sq. feet
Average Leased = $1742/month.

45 Residential Rental Properties are currently ACTIVE on the MLS.
Average Unit = 1222 sq. ft.
Average List Price $2046/month.

Remaining Properties were temporarily taken off the market, but are expected to "reactivate" soon.

With rents at mortgage-payment levels, purchasing a home may be an option.
If you own a rental, you know that the time and the money for upkeep are a big resource commitment, and it may be time for you to sell -

Contact me for a free consultation about your real-estate goals at:
shelley@shelleypeck.com, 407-760-1468.

Residential Sales in Thornton Park, Jan-June, 2014

Happy July 4th!

The market activity for 'non-condominium' residences in Thornton Park has been steady all year.

Interest rates are lower now than this week in 2013 (4.14%, when rate was 4.46% last year) (Source: Freddie Mac), so it's a great time to investigate your financing options. 

Currently ACTIVE Listings: 11 Actives, 2 Active with Contract

Current PENDING Listings: 2 Pending

Among the 12 sales (below)  are a couple town house closings and just two 'distressed sale' transactions.

Get Informed About Your Real Estate Resources -

Get Informed About Your Real Estate Resources -