Orlando Real Estate -

Members of the Orlando Regional Realtor Association sold more than double the number of homes last month than they did in November 2008, but values fell by more than 25 percent, the association reported.

Association members recorded 2,238 closings in November, compared to 1,110 closings in the same month a year prior. Of those sales, about 63 percent were short sales or bank repossessions, which resulted in keeping values lower. The median price of homes sold in November fell to $123,000, nearly 5.4 percent less than the $130,000 posted in October of this year and 25.9 percent under November 2008’s $166,000.

November sales of all existing homes in the Orlando area — Lake, Orange, Osceola, and Seminole counties —also more than doubled, from 1,343 in 2008 to 2,816 this year.

Association members reported 957 bank-owned property sales and 463 short sales in November, while traditional sales stood at 818. The median price for bank-owned properties was $84,000, $122,000 for short sales and $173,960 for traditional sales, the association reported.

That pushed the Orlando affordability index up by more than 12 percent to nearly 209.1 percent last month. An affordability index of more than 100 means that those earning the state-reported median income of $52,706 can qualify to purchase any of the 9,195 homes listed in Orange and Seminole counties for up to $278,049.

The first-time homebuyer affordability index in November also jumped about 10 percent to 148.66 percent. That means first-time buyers who earn the state-reported median income of $35,840 can qualify to purchase one of 6,057 homes in Orange and Seminole counties currently listed in the local multiple listing service for up to $168,065.

Things also are looking up for the future, as association members reported more than double the number of November pending sales, or 8,633, compared to November 2008’s 3,326. Pending sales are considered an indicator of future sales activity. Meanwhile, a total of 3,023 sales contracts were newly filed in the month of November, a nearly 83.9 percent jump when compared the 1,644 posted in November of last year.

Condominium resales more than tripled in November, from 114 last year to 387 this year. The most condos, or 185 units, sold for up to $50,000, making up nearly 50 percent of all condo sales this year. Only six condo units sold for more than $250,000 last month.

Meanwhile, 224 existing duplexes, townhomes and villas sold last month, nearly triple the 95 sold in November 2008. The majority of these units, 40 total, sold in the $100,000 to $120,000 price category, while 16 sold for less than $50,000 last month.

The Orlando area’s home inventory increased by only 259 homes — meaning 259 more homes were put on the market versus homes that sold — to a total of 16,002 homes. That puts the area’s inventory at a nearly 7.2 month supply at the current sales pace, a far cry from January 2009’s 21.5-month supply.

Homes spent an average of 86 days on the market, the shortest time since December 2006, before coming under contract last month and the average home sold for 94.9 percent of its listing price.

Seniors First will cap off its annual fundraising effort with its Holiday High Tea at The Peabody Orlando. During the event, guests can participate in a “stylish tea hat” contest, bid for items in both the silent and chance auctions, and indulge in traditional teatime fare – including fresh fruits, tea sandwiches, decadent desserts and exotic teas. Seniors First is a nonprofit social service organization dedicated to serving the needs of Central Florida’s elderly population with a broad spectrum of nutrition, home improvement and support services. The funds raised as a result of the High Tea directly benefit the seniors of Orange and Seminole counties.

When: December 20 : 2 p.m.

Price: $50

Event Phone Number: (407) 581-9366

http://www.seniorsfirstinc.org

The Peabody Orlando 

9801 International Drive

Orlando, FL 32819

407-352-4000

Ed Abisada & MKL events brings you Gold Touch, an event created to bring a clash of culture, music,fashion and glamor to Orlando. For this event with the help of PhotoArt Consortium and Delafee, there will be a fashion photo shoot featuring local boutique's and designer's and specialty cocktails with 24k edible gold. Dress to impress.

When: December 12 : 9 p.m. - 2 a.m.

Price: $10 at the door, $5 RSVP (age 21 and older)

Event Phone Number: 407-721-4375

http://www.theimansion.com

iMansion 100 South Eola Drive Orlando, FL 32801

407-704-4417

Don't miss the all new Holiday Concert Series in Universal Studios' new Music Plaza at Universal Studios Florida. Enjoy some of your all time holiday favorites as performed by Mannheim Steamroller, Chris Isaak and Natalie Cole.

Chris Isaak, December 21th at 7 p.m.

Throughout his impressive recording career Chris Isaak has tunefully and artfully explored the good, the bad and the ugly of love, as well as other matters of profound human interest. He has done so with an abiding respect for popular music's past, but at the same time with clear and vital passion for the here and now. Some of his biggest hits include the international breakthrough smash "Wicked Game," "Baby Did A Bad, Bad Thing," and "Somebody's Crying," but he also exhibits a lighter side on his 2004 album simply entitled Christmas, in which he interprets many of the best known holiday songs of all time. Isaak has also used his famously sly, self-deprecating wit and matinee idol looks to enjoy a whole second life onscreen, appearing in many films and television shows, including his own acclaimed Showtime musical comedy series The Chris Isaak Show from 2001-2004.

Natalie Cole December 19th at 7 p.m.

Natalie Cole is one of the music industry's most highly acclaimed performers working today. The singer/songwriter's repertoire or pop, jazz and R&B has earned her countless honors including 18 Grammy nominations and 9 Grammy Awards; multiple American Music Awards; a Lifetime Musical Achievement award from The George and Ira Gershwin Awards; a Hitmaker Award from the Songwriters Hall of Fame; and NAACP Image Awards for both acting and singing. Natalie, daughter of legendary crooner Nat King Cole, sang on her father's Christmas album at the tender age of six. Since then Cole has recorded a number of her own albums of holiday music, including The Magic of Christmas in 1999, Celebration of Christmas in 1996, and Holly & Ivy in 1994.

When: December 12 : 7 p.m.December 19 : 7 p.m.

Price: Price of park admission, $75 adults, $63 children (ages 3-9)

Event Phone Number: 407-363-8000

http://www.universalorlando.com

Universal Studios Orlando 

1000 Universal Studios Plaza

Orlando, FL 32819-7601

407-363-8000

The Dragon Room presents its annual Winter Wonderland Party and Toys for Tots Benefit. Everyone who donates a toy receives free admission all night and $1 drinks until midnight. Ladies drink free until midnight, but bring a toy anyway. DJ Chino will be spinning hip-hop, Top 40 and mash ups all night.

When: December 11 : 9 p.m. - 2:30 a.m.

Price: free cover all night long if you donate a toy (age 18 and older)

Event Phone Number: 407-843-8600

http://www.dragonroomorlando.com

Dragon Room Cocktail Boutique

25 W. Church Street

Orlando, FL 32801

407-843-8600

Each year animal advocates gather for an evening of delicious Vegan food, camaraderie, some of the best nationally known animal rights speakers, and raffle prizes called the "11th annual Holiday Dinner for the Animals." For the reduced ticket price, payments must be received by December 10th. Price includes dinner selections from 8 Vegan dishes and iced or hot tea. This year's speaker is Tamria Thayne, founder and CEO of Dogs Deserve Better. She will speak at 6:30 p.m. All proceeds will benefit Dogs Deserve Better. An RSVP is required.