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Appraisal | Wise-Prantner Group Blog

Wednesday, May 19, 2021   /   by Peter + Traci Prantner

April 2021 Market Update

The number of new listings on the market is still down 6% compared to last month and 11% from this time last year. There are 13% fewer listings from this time two years ago. Houses are staying on the market almost 2 whole weeks less than this time last year and is half of what it was two years ago! Interest rates are still around 3%.
 
Here are some quick statistics for Osceola, Polk, and Orange counties.
 
This is comparing April 2020 to April 2021. The number of houses sold did increase 44% from the prior year! Because of the high interest in buying and a lack of houses for sale to support the demand of buyers, the average price of houses has increased again from this time last year by 26%. Supporting proof for this demand is the fact that the average days on the market continues to be TWO WEEKS from this time last year!!! Houses sold in April 2021 on average sold at or above list price. Even though demand is high and therefore prices are increasing, it is still super ...

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  buy house, sell house, sell fast, appraisal, relocation

Wednesday, May 12, 2021   /   by Peter + Traci Prantner

3 Things to Consider with Automate Home Values

(Click Image for Video)
Today we are talking about Zestimates and other automated home values. Specifically for Zestimates, I have noticed the following lately: First, they are much lower than what houses are actually selling for. This is an automated algorithm. It isn't looking at the current market and the demand with multiple offers being made on houses. Typically algorithms use sold prices, which is still low in today's market. What is sold today is a lower price than what is going under contract today. When we evaluate prices for listing or purchasing, we take what has sold and have to bump it up a little to match today's market. Second, Zillow is their own buyer and it has me wondering if they are valuing houses lower to give themselves the opportunity to buy low. Keep in mind, this is my own observation and my own thoughts. I have no fact to base this on. Third, when a house goes on the market the value changes from what was listed the day before when it was off the market. Y. ...

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  buy house, sell house, sell fast, appraisal

Friday, March 19, 2021   /   by Peter + Traci Prantner

15 Tips to Sell and Buy a House at the Same Time

Here in the Orlando area, we have an inventory shortage happening. There are fewer houses for sale and the ones that are for sale are coming on and off the market fast! And if they are of any value at all, they are getting multiple offers, often the first day. (If they are priced anywhere close to market... there are still some crazy high priced houses out there!) This environment is making people that want to sell their current home and purchase a new home worried about how to pull that off. Especially when houses to buy are on and off the market so quickly with multiple offers. In an effort to help ease the worry of how to successfully buy and sell a home at the same time, we have come up with 15 different strategies that can be used to help make both happen at the same time. There are pros and cons to each of these strategies. I'll try to identify them here. Our goal is to educate and help you come up with the best strategy. Please lean on our knowledge if upgrading, downsizing ...

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  buy house, sell house, sell fast, preapproval, appraisal, loan approval, long distance move, relocation, model home

Wednesday, March 10, 2021   /   by Peter + Traci Prantner

February 2021 Market Update

The number of new listings on the market is still down 11% compared to this time last year. The big different is the number of buyers. This has dramatically increased! The number of active properties has decreased by 60%. Houses are staying on the market 3 whole weeks less than this time last year! Interest rates continue to be low, but are creeping up ever so slightly. They will continue to fluctuate and are still averaging around or just under 3%.

 

Here are some quick statistics for Osceola, Polk, and Orange counties.

 

This is comparing February 2020 to February 2021. The number of houses sold did increase 19% from the prior year! Because of the high interest in buying and a lack of houses for sale to support the demand of buyers, the average price of houses has increased again from this time last year by 16%. Supporting proof for this demand is the fact that the average days on the market has decreased by THREE WEEKS from this time last year!!! Houses sol ...

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  buy house, sell house, sell fast, preapproval, appraisal, loan approval

Tuesday, January 26, 2021   /   by Peter + Traci Prantner

Top 4 Reasons Home Purchases Don't Happen and Fall Apart

(Click Above for Video)


 


If you have ever bought a home, you know that it can be nerve wracking. There are certain steps along the way to buying (or selling) a home that are more likely than others to cause a deal to fall apart. As realtors we are here to help guide clients through these obstacles and to help keep you calm and low stress along the way. There are four areas that are more vulnerable to a contract falling apart than others. I'll talk about them here.


 


Contract Getting Accepted. Let's pause for a moment and talk about today's environment. Houses that are decent and priced right are being listed and multiple contracts received in a matter of days. We are seeing it constantly. Although not a contract falling apart, but certainly can be just as frustrating is when the offers you are presenting aren't being accepted time and time again. It's important to work with an agent that has experience in multiple offer situations. There are things ...

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  buy house, sell house, appraisal, home inspection, loan approval, preapproval

Wise-Prantner Group at Compass Florida
7380 W Sandlake Rd. Suite 500
Orlando, FL 32819
321-247-0856

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