Orlando Real Estate | The Trends of the Future

Orlando as a modern city is a far cry from itsDisney World's completion, Orlando has been a major
humble, mysterious origins. Today it is known as atourist destination, an important American city with
thriving metropolis, a large city with a volatile realexciting cultural offerings.
estate market and a diverse economic base. Tourism,All of these factors contributed to Orlando's current
hospitality services, the entertainment industry, andstate. The city's population continued to
national defense industrial plants drive its economy.increase--driven by tourism and steady manufacturing
But the Orlando of old was a rural area, whoseresources. In turn, its real estate market flourished.
inhabitants operated sugar mills and citrus groves. ItThe real estate market's upturn lasted until the early
also played a major role in the Seminole Wars, which21st century. But in 2005, signs of trouble appeared
influenced its early culture and population.on the horizon. 
Historians point to Orlando Reeves. Reeves diedFueled by the demand for more high-end real estate,
during the second Seminole War. He owned a sugarOrlando's landscape grew crowded with expensive
mill. When settlers discovered his name carved into aproperties. For a time, these homes sold, and many
tree, they assumed it was his grave marking. Settlersinvestors and realtors remained confident in the
took to calling the area Orlando, and the name stuck.market's stability. Soon, though, the national economy
After the Civil War, Orlando experienced tremendousexperienced a swift downturn; people living in
population growth. Citrus groves and sugar millsexpensive homes could no longer pay their
prospered, cattle ranching was a prominentmortgages, and many properties fell into foreclosure.
occupation. The area settled as a registered townAs the national economy dimmed in 2008, Orlando,
and became the county seat of Orange County inand Florida at large, endured a taxing real estate
1856. It was settled as a city in 1885.downturn.
As years passed the population steadily grew.Opportunity rises from adversity. Three years of
Orlando's identity and industrial strength took shape.economic hardship, emboldened by the real estate
In the 1920's, during the Florida Land Boom, Orlandomarket's pitfalls, now present investors and realtors
experienced a dramatic increase in housingwith fresh opportunities.
development. The price for land and homesProperty prices continue to fall. But soon they will
skyrocketed. The design and layout of modernstabilize. Many experts suggest that now is the time
Orlando and its surrounding areas is largely derivedfor investment. This benefits the individual as well as
from this constructive period.the economy. The individual invests in property. The
But when a series of devastating hurricanes and thenhousing market notices. The property increases in
the Great Depression hit, the Florida Land Boomvalue over time. The individual, who buys now, later
ended.sits on a valuable asset. Again, the market notices.
Following the Second World War, though, as theThis process, if repeated successfully, will bolster the
nation's wealth grew, Orlando reemerged as amarket at large.
popular, tropical destination. Many GI's visited andOf course all parties must be judicious. Realtors,
eventually settled there. The bolstered economyinvestors, and banks must learn from their mistakes.
allowed the city to invest in urban development andIf caution and judgment work together with honest
various public projects. Then, in 1965, the plans tocapitalism, the Orlando real estate market will once
build Walt Disney World were announced. Sinceagain reemerge as a national powerhouse.