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Orlando
Real Estate
Orlando Real Estate
Orlando is a city in central Florida that annually attracts more than 35 million
people from all over the world to its theme parks and other tourist attractions.
The Greater Orlando area also offers a small-town feel, an excellent climate and
affordable Orlando real estate.
Orlando real estate is as diverse as the people who visit, and real
estate supplies are ample. Homes range from modest single-family bungalows to
high-end mansions in gated communities. Mobile homes, investment properties and
condominiums are also in abundance. Orlando real estate prices range from
quite affordable to very upscale. A fixer-upper can start as low as $17,000. Large
luxury estate homes with such amenities as boating facilities and golf course
access will be priced in the millions.
Orlando real estate hit a new high for homes sales in 2003. Over 24,000
homes were sold, outpacing the 2002 record of 21,000-plus homes, according to
the Orlando Regional Realtor Association. ORRA does not expect the housing sales
boom to slow down in 2004, though nationally there has been some slowing.
Currently downtown Orlando is experiencing a massive revitalization. Plans are
being laid and buildings are going up or being remodeled. Several condo projects
are in the works or have broken ground. In addition, 300 rental apartments are
being developed near Orange Avenue and Mark Street. Code. The biggest development
in Orlando real estate currently is The Plaza, a complex that will offer
office space, retail space and a 12-screen theater.
In the fall of 2003, Florida's Building Commission met in Orlando to completely
overhaul state building codes. The list of changes included more relaxed restrictions
on hurricane-reinforcement requirements and a transition from state to local governance.
The goal was to adopt the International Building Code to unify the state's regulations.
This should lead to a reduction in home insurance rates and fewer incongruities
for developers. The desired end result is lower housing costs.
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