The sales of condos in the Orlando area decreased by 31.33 percent in August: A total of 114 condos changed hands in August 2008 compared to 166 in August 2007. In a month-to-month comparison, August 2008 condo sales (114) decreased by 14.93 percent from July 2008 (134). Year to date, condo sales are down 43.71 percent, with 939 condos sold so far in 2008 compared to 1,668 sold through the same time in 2007. In August, the most (20) condos that changed hands were in the $100,000 - $120,000 [...]
Short Sales: An acceptable exit strategy? Most of you who bought investment condos in 2005-2006 have told me the same gut-wrenching story: You're desperate to sell and wouldn't even mind taking a small loss if that's what it took. At that point, I usually ask you what you paid - and what you are asking - before telling you that you are probably wasting your time - unless you're ready for a skull searing haircut. Condo prices have fallen so much that even taking a small loss won't attract [...]
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