Orlando was down 1% at the beginning of the year now is 6 to 9% down. Agents do anything to sell. It's incredible. The market correction is coming quick and it just started.
🇺🇸 I have to agree, to disagree. I love the video style of talking to different real estate agents from across the country, however, the IDEA that the housing market won’t drop its housing market prices in Orlando is LUNATIC. 🎃 House prices are already happening in Orlando and FL in general. The biggest home prices drop are STILL ahead of us, I’m patiently waiting in the SIDELINES, and I’m very very patient. 2023 will have some great deals, and it will be a great BUYERS MARKET. This is definitely one of the BIGGEST housing bubbles ever produced in USA. I love your channel, but I had to lay out the REAL truth!!! 🎃🎃🎃
I didn’t say Orlando wouldn’t drop. Just said the market is localized. It’s always localized. Vegas is down 10%+ in 60 days. Orlando is down 1%. Is that the same market?
@@kenpozek Ken, I agree in that specific part, markets are localized. Regardless, I’m super excited for real estate discounts and incentives from home builders to hit the markets like a Black Friday sale for 2023! Fire sales are coming to Orlando. What’s your take on that?
@@brandon7233 Speaking of stellar and ORRA, according to their own website (MLS and Orlando realtors) the average price of a sold home in the 4 county area for January 2022 was $471,351. May it was $476,184. July (the peak) it was $506,981. And in October (back when this video was shot) it was $502,698....or 1% lower than in July as mentioned. 45 days later it's $457,735 or 9% lower than the peak. So when this video was shot (you're late to the party) I gave the factual data driven truth, and I continue to do so. Thanks for chiming in.
@@brandon7233 I don't disagree. We watch that number (plus DOM and inventory) weekly. Currently at 97% list to sale ratio. Which I'm ok with. I'm moreso concerned the 700k+ range has a 9_ month supply of homes. Officially a buyers market there. Sub-500k is still a sellers market and a 98% list to sale ratio and a 3 month supply of homes. Time will tell. I think the CPI report will come out in dec and when the fed meets on the 14th rates will drop to 6%. That's my guess anyway. I'm personally still buying homes. As long as it cash flows, I'm in it for the long haul. Same advice I give my clients.
Ken, I wish you the best and hope you are preparing yourself to weather the storm as you have more upfront risk than most in a housing crash. The statistics in terms of affordability for homes and oncoming new home inventory is setting up for a major correction throughout most of 2023.
From what I am seeing the Orlando metropolitan housing market is highly resilient. I know dozens of senior tech workers who moved there since the pandemic started and they know dozens as well. I think this is part of it. Plus, they like living there.
It was great to hear the insight from the agents across the country & how the Florida market appears to be holding up OK insight of the headlines. Thanks for including me in this too!
When recession progresses and job losses are in the mix You will see a drastic downturn. Orlando is a heavy service based city… unfortunately this worldwide downturn will leave no casualties.
Great insight into what’s really going on. As the “theme” of this video says, it’s important to know the difference between the national news and the actual happenings. Even if you’re not in the market, your info is important to get a read on the bigger economic picture. Also, I think it’s understated how the “establishing cuts” and music stings in your videos enhance how professional they look. Always liked the look but it’s kind of fun to compare with the older stuff!
Agree! An educated consumer makes better decisions. That’s the true goal of my channel. And thanks! The team has been working hard to level up the stickiness/entertainment factor
Typical realtors lol still in denial, 2023 will bring big surprise to everyone, this is just a beginning so big corrections will happen later in the year. Let's ask them in 6 months they won't be laughing.
What are the chances of a repeat of the 1980s! Remember Interest rates kept going up to 18 percent! I really don't believe that the housing market can go lower than 15 % in general! 😱
@@kenpozek I sure hope so, thank's! Actually doesn't affect me, cash buyer! If you can do a video on comparing Orlando to Sarasota would be great! Looking into the suburbs of Orlando (Custom home) & other area is the suburbs of Sarasota (pretty sure you know the Ranch Im talking about :) !
Orlando was down 1% at the beginning of the year now is 6 to 9% down. Agents do anything to sell. It's incredible. The market correction is coming quick and it just started.
Lol it was down 1%? Link?
🇺🇸 I have to agree, to disagree. I love the video style of talking to different real estate agents from across the country, however, the IDEA that the housing market won’t drop its housing market prices in Orlando is LUNATIC. 🎃
House prices are already happening in Orlando and FL in general. The biggest home prices drop are STILL ahead of us, I’m patiently waiting in the SIDELINES, and I’m very very patient. 2023 will have some great deals, and it will be a great BUYERS MARKET. This is definitely one of the BIGGEST housing bubbles ever produced in USA. I love your channel, but I had to lay out the REAL truth!!! 🎃🎃🎃
I didn’t say Orlando wouldn’t drop. Just said the market is localized. It’s always localized. Vegas is down 10%+ in 60 days. Orlando is down 1%. Is that the same market?
@@kenpozek Ken, I agree in that specific part, markets are localized. Regardless, I’m super excited for real estate discounts and incentives from home builders to hit the markets like a Black Friday sale for 2023! Fire sales are coming to Orlando. What’s your take on that?
@@brandon7233 Speaking of stellar and ORRA, according to their own website (MLS and Orlando realtors) the average price of a sold home in the 4 county area for January 2022 was $471,351. May it was $476,184. July (the peak) it was $506,981. And in October (back when this video was shot) it was $502,698....or 1% lower than in July as mentioned. 45 days later it's $457,735 or 9% lower than the peak. So when this video was shot (you're late to the party) I gave the factual data driven truth, and I continue to do so. Thanks for chiming in.
@@brandon7233 I don't disagree. We watch that number (plus DOM and inventory) weekly. Currently at 97% list to sale ratio. Which I'm ok with. I'm moreso concerned the 700k+ range has a 9_ month supply of homes. Officially a buyers market there. Sub-500k is still a sellers market and a 98% list to sale ratio and a 3 month supply of homes. Time will tell. I think the CPI report will come out in dec and when the fed meets on the 14th rates will drop to 6%. That's my guess anyway. I'm personally still buying homes. As long as it cash flows, I'm in it for the long haul. Same advice I give my clients.
Ken, I wish you the best and hope you are preparing yourself to weather the storm as you have more upfront risk than most in a housing crash.
The statistics in terms of affordability for homes and oncoming new home inventory is setting up for a major correction throughout most of 2023.
From what I am seeing the Orlando metropolitan housing market is highly resilient.
I know dozens of senior tech workers who moved there since the pandemic started and they know dozens as well. I think this is part of it. Plus, they like living there.
It was great to hear the insight from the agents across the country & how the Florida market appears to be holding up OK insight of the headlines. Thanks for including me in this too!
When recession progresses and job losses are in the mix You will see a drastic downturn. Orlando is a heavy service based city… unfortunately this worldwide downturn will leave no casualties.
Great Video @Ken!
Thanks for the insider info Ken!
Great insight into what’s really going on. As the “theme” of this video says, it’s important to know the difference between the national news and the actual happenings. Even if you’re not in the market, your info is important to get a read on the bigger economic picture.
Also, I think it’s understated how the “establishing cuts” and music stings in your videos enhance how professional they look. Always liked the look but it’s kind of fun to compare with the older stuff!
Agree! An educated consumer makes better decisions. That’s the true goal of my channel.
And thanks! The team has been working hard to level up the stickiness/entertainment factor
Thank you Ken! ❤
Good insight! Thanks Ken!
Thanks for tuning in, Nima!
Ken I love your hunger, brother.
Keep it going!!!!
Keeping after it my dude 💪🏼
@0:51 It’s Jeremy, Austin! 🤟🏽
@3:18 !!
Best SCHOOP ever!! Great information too! lol
Took a little extra time lol
This topic is extremely important to Orlando area homeowners and I appreciate you continuing to keep us abreast of the changing market.
Thanks for tuning in, Jeff!
Everyone is just hoping and waiting that prices go down.
Maybe if you get you money up you can afford it!
Great video man!
👍
Typical realtors lol still in denial, 2023 will bring big surprise to everyone, this is just a beginning so big corrections will happen later in the year. Let's ask them in 6 months they won't be laughing.
What are the chances of a repeat of the 1980s!
Remember Interest rates kept going up to 18 percent!
I really don't believe that the housing market can go lower than 15 % in general! 😱
Honestly I think they drop back to 6% in dec/Jan and lower by summer. We shall see
@@kenpozek I sure hope so, thank's! Actually doesn't affect me, cash buyer!
If you can do a video on comparing Orlando to Sarasota would be great! Looking into the suburbs of Orlando (Custom home) & other area is the suburbs of Sarasota (pretty sure you know the Ranch Im talking about :) !
@@Tommaso77777 Use that to your advantage, brother. Negotiate like hell, and dont be afraid to walk away.
Make them cry.
@@Rothbardo Thank's for sound advice!
Does anyone know the max VA home loan amount for the Orlando area?
Orange County it’s 510k
Waking up to 8.0% rates…On sidelines waiting.
6.5% today. I’d bet after the 14th when the fed meets it drops to 6%. We shall see.
Where's the recession you just prognosticated 44 seconds into the video?
Orlando job market sucks....
And “affordable” housing
You’d wish
@@Grillaland you don't think so....
Depends what you do.
Unemployment is some of the lowest in the country. If you think it sucks, it’s probably time to upgrade your skills
@@kenpozek I work from home ...so doesn't matter to me
Orlando homes way overpriced. nothing here justify houses being so expensive.
6 days and moving to Davenport!!!
Yessss! Welcome!