REO Property in Orlando Flipping is Getting Harder
Eugene Hoffman
Investor- Real Estate Agent
REO Property in Orlando Flipping is getting Harder
REO Property in Orlando Flipping is getting Harder
Eugene Hoffman
Investor- Real Estate Agent
Three reasons it is getting harder to find profitable REO Properties in Orlando( DEALS)and everywhere in general.
- Thousands of people have become House Flippers( I am one of them).
- Rising Price of HOMES has priced “First Time Home Buyers” out of the Market.
- Lack of inventory of houses under $100,000 in Central Florida.
Someone said History doesn’t repeat but it does rhyme. In 2006 when I became a Real Estate Agent I was sworn in at the Orlando Arena. Orlando filled up the arena each month because so many people were becoming agents and investors. It seams to happen at the top of the market. At that time, there were ten thousand agents in Central Florida and over one million nationally. History repeated herself again in 2013 when once again thousands of people became Agents and investors.
The video above is for May 2016.
The date of this video is from February 2010. The median priced home was $109,000. Today, in 2016 the median price home is $203,000. That is a huge difference but look back to the height of the market in 2007 when the median priced home in Central Florida was $255,000.
In many parts of the country the median priced home has exceeded the 2007 price.
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