Orlando’s variety of lifestyles and living arrangements create a somewhat chaotic market foreground. While the median home value and the median sale price tend to line up, properties still sell at a price cut.
In fact, 22% of houses in Orlando will sell for less than the listing price. That’s why so many sellers list much higher – they want to take their cuts out of the excess, rather than the value of the house.
Some sellers don’t have the luxury of being able to do that. Orlando is above the United States average in both negative equity and mortgage delinquency. More than 11% of homeowners are upside down with equity, and almost 2% of homeowners are facing imminent foreclosure.
These people are looking to sell quickly, and they need a specific amount of money to remedy their problem. They’re between a rock and a hard place, and they need a reliable buyer to help them out of a jam.