According to an Orlando Business Journal article, over 150,000 people decided to leave the “City of Angels” Los Angeles in favor of the central area of Florida. In 2020, Central Florida saw more than 50,000 new residents.
The Orlando metro keeps drawing the attention of homebuyers, as is common for Florida, from the Northeast. The influx of West Coast purchasers, though, is a recent development evidently sparked by the increase of remote jobs. Previously, clients from California would travel as far as Colorado or Texas.
The reasons that could be pushing Golden State individuals around the country are lower prices for real estate as well as Covid-19 fears. Although local prices are increasing, home costs in the nation’s second-largest city are dwarfing them. Per Realtor.com, Orlando’s median home price is $280,000, a comparatively massive median price of $835,000.
To read more, please visit https://www.bizjournals.com/orlando/news/2021/02/16/orlando-attracts-california-homebuyers-at-unpreced.html.
Should you need a hard money loan to purchase Orlando real estate, please contact us. We provide fast responses and very few requirements versus traditional lenders.
This update is by hard money loans Miami company Monroe Funding Corporation, a direct equity lender serving clients throughout Central and South Florida. We specialize in first mortgages on non-owner occupied residential and commercial property investments as well as real estate loan options. Our fast and flexible loan programs get you to the closing table quickly and professionally. For more information on hard money lenders Palm Beach or Orlando hard money lending, please call 954-419-3536 or fill out our application.