Orlando, Florida Real Estate Market

In real estate market of Orlando, Florida both the buyer and the seller can have a quality properties and investment opportunities. The real estate market has a prime construction, its own style, invention, and for the recognizing buyer there are number of homes that can meet their satisfaction. In Orlando the place has a growing business and a friendly residential environment. It is flourishing based on the present and future expansions and investments. The newly added facilities such as Burnham Institute of Medical Research will give new employment and facilities to the residents. Through this it will bring Orlando more housing areas and more people to visit and live.     

In the previous years the rate of unemployment in Orlando was low and through this it resulted to growth that brings to conurbation in the neighboring areas. In addition to, the combination with the year 2007 subprime mortgage financial crisis and also to the increasing cost prices of homes. In one year the price of houses in Orlando increased to 34 percent rated from an average of $182,000 in 2004 to $245,000 in 2005, and in February 2007 in a final record of $255,000. The unemployment rate of Orlando in June 2011 went to 11.1 percent and on the preceding year of April goes to 11.4 percent, and on year 2009 goes to 10 percent. In January 2011 it has an average penetrating out at $94,950 due to economic breakdown and plumped prices.

In addition to, Orlando is one of the busiest cities in the United States for conferences and conventions. It has more hotels and after Las Vegas it is next as the largest number of hotel rooms in the country. Begin in 2004 more luxury hotels began opening the city with the expansion of the orange county convention center on that year. A hotel in Orlando historically caters to budget-conscious family and a few options existed luxury hotel outside Walt Disney World. The opening of more hotels started with the opening of the JW Marriott Orlando and the Ritz-Carlton Orlando at Grand Lakes. Orlando from 2010 extends four Star hotels in the market. On that year the Waldorf Astoria-Orlando completed. It’s the first Waldorf Astoria was built from scratch, as the flagship was opened in New York in 1931.    

While historically low interest rates and a temporary slowdown in bank foreclosures in the housing market seems to tackle in the fourth quarter of 2010 and will continue to fight in 2011. It is expected that banks will accelerate the process of locking and interest rates rise, negatively affecting prices. Homebuyers continue to struggle to obtain financing due to higher claims and tougher qualification standards. On the other hand, Orlando has become the new business center and a leader in Florida. When you buy a house, your neighborhood is essential. It is important to have a property that includes towns, communities and neighborhoods you are looking for.

Climate and Storm History of Orlando Florida

Orlando has a warm and humid subtropical climate, and there are two major seasons each year. One is hot and rainy, lasting from June until late September. The other is the dry season from October through May which brings more moderate temperatures and less frequent rainfall. The area's warm and humid climate is caused primarily by its low elevation, its position relatively close to the Tropic of Cancer, and its location in the center of a peninsula. Many characteristics of its climate are a result of its proximity to the Gulf Stream, which flows around the peninsula of Florida.

During the height of Orlando's humid summer season, temperatures rarely fall below 70 °F and daytime highs average in the 90s from 32 to 37 °C. The area's humidity acts as a buffer, usually preventing actual temperatures from exceeding 100 °F but also pushing the heat index to over 110 °F. The city's highest recorded temperature is 101 °F, set July 2, 1998.

Orlando is a major population center and has a considerable hurricane risk, although it is not as high as in South Florida's urban corridor or other coastal regions. Since the city is located 42 miles (68 km) inland from the Atlantic and 77 miles (124 km) inland from the Gulf of Mexico, hurricanes usually weaken before arriving. Storm surges are not a concern since the region is 100 feet (30 m) above sea level. Despite its location, the city does see strong hurricanes. During the notorious 2004 hurricane season, Orlando was hit by three hurricanes that caused significant damage, with Hurricane Charley the worst of these. The city also experienced widespread damage during Hurricane Donna in 1960.

In the year 1960, hurricane Donna hit Orlando. One of the catastrophic hurricanes of all time, Hurricane Donna traveled over the Florida Keys and throughout Florida, striking out Orlando on September 1 where it caused a dangerous wind and flood that bring more damaged to the area. Landfall pressure of 27.46 inches Donna makes the strongest hurricane to hit a record fifth United States. It corresponds to 50 deaths in the United States and 114 deaths reported in the Leeward Islands, the Bahamas, including 107 in Puerto Rico caused by flooding from heavy rains. The hurricane caused $ 387 million in damage in the United States and $ 13 million elsewhere along its path.

In 2004 hurricane Charley, Frances and Jeanne struck Orlando. Hurricane Charley was the first of three tropical storms hit the Orlando area in 2004. Friday August 13 storm hit strong winds reached about 80 mph caused tree damage and serious roof. Orlando some communities were without electricity for several days. Hurricane Frances hit Orlando not the event a month after Hurricane Charley. A slow moving storm that took more than 24 hours to travel through our region, it dumped nearly 8 inches of rain on the society. The weekend of Sept. 25, the third storm hit Orlando in 2004 has arrived. Storm damage was less than Charley and the storm had less rain than Francis, but some people even lost power and was injured at home.