Have we seen the real estate market in Central Florida peak?
For the past few years there have been multiple metro areas throughout the state of Florida that have seen tremendous growth in housing. Central Florida has often had cities and towns claiming spots on multiple top 10 hot market lists, but has the market peaked? Based on recent data, it may have. A recent survey by the Orlando Regional Realtor Association (ORRA) saw that two thirds of responding agents believe the market has already peaked, and 48% see signs of cooling.
The Orlando Business Journal spoke with Lisa Hill, ORRA president, and she had a few observations.
Hill said, “If you jumped in two years ago, you really didn’t have to do anything — the house sold itself. Now we’re re-training agents on how to do lead generation and do things like knocking on doors, open houses. I think what we’re seeing is a lot of agents that weren’t really prepared [for a tougher market].”
Hill also observed that she’s having to send agents farther away from Hill also stated, “I think Lake County is definitely kind of the hotspot right now for that reason — out in Astatula, Groveland, Eustis, Tavares and some parts of Mount Dora.”
Bozeman, MT approves new housing development
It’s not just major metro areas that are struggling to meet housing demands. The city council in Bozeman, MT recently approved a plan for land development that includes nearly 500 housing units. Ninety-five acres of grass fields in Bozeman will be developed into mostly residential and some commercial space in the first phase of the project.
Barry Brown, a member of the development’s ownership team, stated, “Our vision for the project is to thoughtfully shift the land from agricultural use to a vibrant mixed-use neighborhood that is integrated into the fabric of Bozeman.” Brown also added, “We’re focusing on being able to deliver at least at a minimum attainable housing that could include affordable, but it could also include some market-rent (or) sale property of housing that is sized to make it attainable.”
Why does a Pennsylvania mansion come with its own jail?
A brick mansion in Bedford, PA is listed for $274,000. Not only does it come with a unique history, but it also has 18 jail cells. The property dates back to 1895 and was originally a prison with an attached mansion for the warden to live in.
The jail operated for nearly 100 years, and it was sold by the county in 2008 to the current owner who renovated it.
The mansion itself features five bedrooms and one full bathroom. It features multiple turrets and seven fireplaces. The property is listed at the current price point because it still needs a lot of work. The roof needs to be replaced and there are other areas that will require repair.
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