Our local major paper, the Orlando Sentinel, has been running a series on foreclosures and how they affect the market in Central Fl. There's a link below to the article that ran this past Monday. The Sellers, who are the feature of the article, are my Sellers in Poinciana. Some of you guys may know them as "The Lovely's". I'm briefly in the article as well. Anyway,here's the link, check it out.

Here are a couple of excerpts from the series:

"Only 924 homes were sold in September by Orlando Realtors in their core market, the fewest re-sales since January 1999. By comparison, sales in September 2005 -- near the market's record-setting peak -- totaled 2,964. A year ago, 2,054 homes changed hands in the core market, which consists mainly of Orange and Seminole counties but includes some deals in surrounding counties"

"South Poinciana is home to the worst-hit ZIP code in Central Florida -- 34759 -- where nearly 300 homeowners have defaulted on their mortgages so far this year"

Hey....do you see up there where it states: "South Poinciana is home to the worst-hit ZIP code in Central Florida" Isn't that cool? My market is numero uno baby!!!! Hey if you have to be something you might as well be number 1. We don't do things half-ass in Poinciana!

My market encompasses two zip codes. The worse, South Poinciana, is 34759 and has 386 homes in some stage of default (at least 3 payments behind), foreclosure or auction. North Poinciana, zip code 34758, has 307.

Currently there are 1673 active listings (single family) homes in these two zip codes. That's actually down about 50 listings from last month. Most of those properties have been removed from the market. I withdrew 9 listings myself. In September we had 32 closings TOTAL! September 2006 there were 102. So we are holding steady at about a 60% decrease in sales for the year. Year to date there have been 480 sales. Last year same period 1184. So again holding steady at around 60% decrease. Now if I were to extrapolate out the sales for this year we may hit 575. That means our absorption rate (amount of time needed to sale existing inventory) in Poinciana is about 3 years.

OK, that's it. Can anyone out there beat these numbers? My opinion is that Poinciana Fl is the worse market in the country right now. Any one able to prove me wrong? PLEASE!!!!!  Oops! Got to run....my shift at Wal-Mart starts at five. Or not!!!

****All data is from Realtytrac, The Orlando Sentinel and the MFRMLS and of course Broker Bryant

Here's a link to an article in the Orlando Sentinel on foreclosures in Central Florida. Unfortunately, Poinciana came in with the highest amount of foreclosures and delinquencies in the area. Of course I already knew that. Anyway, click on the picture below to read the full article.  

Hi folks. OK, Im going to make this one short and sweet. As most of you know, my market in Poinciana Fl is brutal right now. Only 1.7% of the available inventory is selling every month. Can it get any worse than that? Maybe.

Anyway, Ive been a listing Broker for 13 years and rarely if ever take a listing that doesnt end up selling. It just doesnt happen. Im an expert on pricing and also at keeping Sellers focused on what we need to do to get their property sold.

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