Kissimmee, Florida real estate market
Published On: January 18, 2012 Posted by: TownsRealty
Kissimmee is one of the cities that was hit the hardest by the foreclosure sweep. Kissimmee was and is a heaven for investors, snow birds and especially by foreign investors. Its proximity to Disney World, golf courses and attractions was a big factor in home purchases. New homes and communities were built between 2004-2009 and in a variety such as single family homes, town homes and condos.
Currently there are 1,155 properties for sale in Kissimmee out of which 846 are single family homes, 152 are condos and 124 are townhomes and villas.
Out of 1,155 properties for sale 411 are short sales, 127 are bank owned and 617 are regular sales. It shows that foreclosure properties numbers are down and more homeowners are able to do a short sale on their homes.
From January 2011 to January 2012 – 5,219 homes sold in Kissimmee and 41 percent were foreclosures. 31 percent qualified for short sales by showing evidence of hardship, such as a job loss, illness or death in the family. 28 percent of the sales were regular sales but 72 percent were short sales and foreclosures.
In this area the rate of foreclosure stayed higher than the rate of the short sales. However, in 2010 – 54 percent were foreclosure homes versus 24 percent short sales. Numbers show that the short sales have improved drastically over a period of one year. Whereas in 2010 -54 percent of the homes were foreclosure in 2011 only 41 percent were foreclosure homes. Short sale homes have increased by 7 percent in 2011 versus 2010.