Orlando, FL Home Foreclosures and Short Sale Real Estate

Orlando's beginnings can be traced back to the early 1800s, during a tumultuous chapter in the city's history. Early settlers and the indigenous Seminole Tribe were locked in a heated battle for the land that would become Orlando. By the end of the second war in 1842, the soldiers had prevailed and land-seeking settlers followed them through the uncharted territory. The first signs of a settlement emerged around an Army fort named Fort Gaitlin, built on present day Lake Eola Park. Legend has it that "Orlando" was the name of a brave soldier who was shot with an arrow as he warned the people of an impending raid. The settlement eventually grew into a city, following periodic building and population booms that expanded city lines to encompass nearly 110 square miles. Today, the city is home to a thriving commercial center as well as the Orlando Predators and the Orlando Magic sports franchises. And when Walt Disney World Resort opened in 1971, Orlando ushered in a legacy of entertainment and hospitality that's been hard to resist ever since. Disney World offers 47 square miles of four different theme parks, two water parks and six world-class golf courses. Tourists of all ages come here to feel like a kid again, socializing with cast members from Disney fairytales, while enjoying adventurous rides. Although this Mickey Mouse crowd-puller is arguably Orlando's main attraction, it lies outside the city in Lake Buena Vista and Bay Lake. Nevertheless, its success has paved the way for Universal Studios Resort, which touts itself as the "grown up" alternative to Disney World. Universal Studios is also outside of Orlando, about 12 miles west of the city. Since its opening in 1990, Universal Orlando Resort has grown to include two adjacent theme parks, a nighttime entertainment center and on-site lodging. Universal Studios Theme Park allows visitors to "ride the movies," placing them inside the very scenes of some of their favorite films. The combined tourist appeal of both amusement park resorts has helped Orlando become the 4th most desired destination for overseas visitors.

Even though the city is known mostly as a tourist spot, Central Florida's real estate market is also drawing people in with its stability. The PMI Mortgage Insurance Company's most recent market-risk-index projections for Orlando reflected a 16 percent chance of a decline in Orlando home prices by 2008. Compared to the overall average of 28.7 percent, Orlando's chances of decline are still below the national average. With single family homes comprising almost 90 percent of housing sales, the U.S. Census Bureau reported that the median resale price rose to almost $270,000, up 20 percent from 2005. Orlando town homes, condominiums and apartments are also in demand, and many offer competitive pricing in the low $200,000s. Another unique feature in Orlando real estate is the influx of planned neighborhoods focused on providing residents with the "city inside a city" feel. Avalon Park, located in southeast Orange County, is one such community. With quiet streets and rows of trees lining its edges, this 1,860-acre neighborhood also sits near acres of marsh, manmade lakes and highlands, providing an ideal landscape. Four-story Avalon Park flats are available for rent at $880 for a one bedroom unit and upwards of $1500 for a three bedroom unit. Avalon Park custom homes in the neo-traditional style range from $160,000 to $1 million. Three miles north of Orlando is Baldwin Park, another planned community built on an old Air Force Base with 25 entry and exit points diffusing traffic in an out of this neighborhood. Architectural styles range from revival features such as symmetrical porticos and intricate eaves to the Florida vernacular style featuring wide verandas and roof overhangs to better cope with Florida heat. These Baldwin Park homes start at $190,000. With views of the skyline and a host of entertainment and dining venues at your disposal, the conveniences of urban living are hard to ignore. Home buyers wishing to work, live and play in close proximity opt for the sophisticated lifestyle of downtown living. Downtown Orlando condominium sales are also rocketing, and the median sales price for existing condos is just $166,000. So become a part of the magic of this city and start your Orlando real estate search today!

Sources:
http://en.wikipedia.org/wiki/Orlando%2C_Florida
http://uk.holidaysguide.yahoo.com/p-travelguide-216948-orlando_history-i
http://www.lonelyplanet.com/worldguide/destinations/north-america/usa/orlando
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http://www.orlandosentinel.com/news/custom/growth/orl-homerisk1406apr14,0,2945989.story?coll=orl-home-headlines
http://www.homegain.com/local_real_estate/FL/orlando.html?entryid=2811
http://en.wikipedia.org/wiki/Walt_Disney_World
http://www.universalorlando.com/prs_morethemepark.html
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http://orlando.condocompany.com/Downtown-Orlando/
http://media.living.net/releases/April2006_sales.htm
http://www.baldwinparkfl.com/web/community.asp