The Orlando Regional Realtor Association just released their statistics for May 2009.

The good news is sales increased in May of this year by 38 percent over the same month in 2008. The better news for the Real Estate Market in Central Florida, is sales are up 44 percent year to date!

Where are the sales coming from? Of the 1,854 homes that closed (actually sold), 51 percent came from bank-owned (795) and distressed (150) properties. The remaining 909 were “normal” sales at 49%.

The good news doesn’t stop there! First time home buyers who earn approximately $35,000/year, can qualify can choose from 6,517 homes currently listed for $155,000, or less, in Orange & Seminole counties. Furthermore, buyers who earn approximately $52,000/year, have their choice of 10,609 homes listed for $256,000, or less, in the same two counties.

Whew! That’s a lot of inventory to choose from! Plus, there are some absolutely great deals out there. Yes, it’s really true - the good ones that are priced right do go fast. In fact, we just accepted an offer on one of our listings that had multiple offers submitted!

So, where is the new ticking time bomb?

This is it! Our “all wise” economists are watching the market, too! In fact, mortgage rates are starting to inch back up. Rates are still at historical low. However, if this trend continues, you’ll see mortgage rates to continue to climb - especially if the recession comes to an end later this year (again, our “wise” economists are predicting).

So, the time is NOW to buy that perfect home. Buyer’s have a “perfect storm” (credit rates, inventory and affordability) on their side.

Also, the government is on the buyer’s side.

As mnay of you know, first time home buyers have until December 1, 2009 to take advantage of the $8,000 tax credit with the purchase of their new home.

That’s FREE money! 

Of course, there are certain restriction that apply, which we can discuss at our First Time Home Buyer Seminar on June 20 from 10:00 AM to Noon.

We’ve designed our seminar to be very interactive. Attendees will actually participate in a mock exercise of picking out and buying a “pretend” home.

So, don’t wait! Call us TODAY to start your search or attend our lively seminar. You won’t be sorry.

The only way you will be sorry is if you wait and the new ticking time bomb EXPLODES!