ORLANDO, Fla. — Editor’s note: This story is available as a result of a content partnership between WFTV and the Orlando Business Journal.
Dewayne Carpenter says a tornado market is here.
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The term “tornado market” refers to a housing market in which some homes are scooped up quickly but others languish on the market without a buyer. This is exactly what Carpenter, co-team lead of the Indian Harbour Beach-based Carpenter Kessel Homeselling Team at Compass Real Estate, and other Realtors from Orlando to the Space Coast have witnessed so far in 2023.
Unlike a tornado, this isn’t an unpredictable phenomenon. A property’s pricing makes all the difference, said Deanna Armel, broker and owner of Kissimmee-based Armel Real Estate Inc. “People are willing to pay what it’s worth. There’s not a tremendous amount of negotiating.”
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