Dr Phillips' distressed properties are few and far between in this popular niche market of Orlando, Florida. Currently there are as few as 10 bank-owned and 32 "short sales" properties in Dr Phillips once littered with distressed homes for sale.
So why the turn around, basic economics! Gradual decrease in price until value returns, that's exactly what has happened the past 5 years. From the peak of the market in 2005 Florida, and pretty much the nation for the matter has seen falling home values but it was not going to last forever. Buyers are seeing value especially in sought after real estate markets like Dr Phillips.
From Phillips Landing to Brenwood Club and Turtle Creek, Dr Phillips homeowners now have the ability to sell their homes without listing under today's values. Home buyers that are in the market especially in these sought after communities are competing with more buyers every day that are ready, willing and able to purchase. Investing in real estate markets like this don't last and don't come around very often so if you are on of those people looking to purchase, now is the time!