If you have been waiting for the short sales in Orlando to slow down or disappear, you will have to wait a bit longer.  According to the most recent statistics 70 PERCENT of Orlando Home Sales are foreclosures and short sales which are typically priced much lower than normal sales.

Recent conversations in the office talk about faster turnaround on decisions for the files that are with the banks and the streamline processes by some banks are giving decisions on short sales in 3-4 weeks on average.  There are still those banks that are using old methods and take forever, but the big banks that have started using online uploading of paperwork from sellers has created a dramatic change in the speed of the decision.

With the market in Orlando continuing to slip (almost 1.3% per month still), we will see short sales for a long long long time to come...and we haven't even talked about the Shadow Inventory that is out there. 

I still say if you see a house you like, BUY IT.  Interest rates can't get much better and the inventory we know about is slipping away.