Question: Our board uses Roberts Rules of Order to conduct our meetings and discussion is limited to board member deliberations with no comments allowed from guests. Some members have asked us to reconsider and to allow open comments from the audience. Is this a good way to go? Answer: Board meetings are meetings of and for the board, not the general members. Once the board meeting is called to order, guests should be advised that they are there to listen only. The chair can make an exception [...]
Remember the days when you could get a loan on a condo? Well for those of you who haven't noticed the real estate crisis (and there are a frightening number out there), those days are long gone. I haven't seen a real condo loan in a couple of years now and a look at MLS "Solds" over the last 12 months reveals about 95% of all Orlando condo sales were classified as "all-cash" transactions. The 5% of mortgage-based sales were on Fannie Mae (HomePath) approved condos which are few and far [...]
NOTE: The following blog contains historical information. Do NOT expect this pricing today. See date of blog and call 407-290-3408 for up to date pricing. Fourteen upscale condos at the Douglas Grand in the beautiful Winter Park will go to auction on May 16th. Condo Metropolis invites you to attend and to preview these condos at your leisure. Previews will be daily through May 15th. Flats and townhomes will be available and prices begin at $379K, a discount of 58% on original post-build [...]
Downtown Condominium The Vue which went to auction last month and was purchased by Delaware based Condo Developer LLC, has announced the sale of their remaining 165 units. The closing of the auction sale should occur by May 15, 2010 and the new Vue pricing is due to be released the third week of May. We will post that info once it's available. In the meantime, a potential buyers list is being established and unit specific reservations may be made for serious prospects. The reservation fee is [...]
55 & Older Housing - what does that mean? The Federal Fair Housing Act prohibits discrimination because of race, color, religion, sex, handicap, familial status or national origin. Many States have their own Fair Housing Act - in Florida Chapter 760 of the Florida Statutes is dedicated to discrimination issues that expand the protection to age and marital status. The term 'familial status' generally refers to occupancy by children (person under 18) with parent, guardian [...]
Not yet listed on the MLS, this 2nd floor condo (of 2 floors) is not a short sale or bank owned property - just a great price. Purchased last year, the owner is prepared to take a loss to compete with the banks. It has been fixed up and is in move in condition. It shows like a model home and some of the furniture might even stay. In the heart of one of Orlando's best neighborhoods and school districts, this condo is block construction, has high ceilings and used to sell for over $300K. It's [...]
Question: One of our members is refusing to pay his annual dues. He has sent us NSF checks and simply does not seem to care. His property is unkempt and no longer lived in. What are our options? Answer: You need a Collection Policy which complies with your governing documents and that details the specific collection steps that will be taken in the event of non-payment. Typically, those steps should start when a payment is no more than 30 days late. After several written notices, the matter [...]
Half a million dollars worth of advertising doesn't go a long way these days, especially in New York. That's the price tag on a brand new Manhattan marketing campain undertaken by Orlando real estate brokerage, Condo Metropolis this month. The larger than life campaign is designed to co-incide with the company's launch into the New York market in the second quarter of 2010. Marcus Burke, founder and broker for Condo Metropolis LLC believes that spent in the right places, even a [...]
BULK CASH DEAL 5 CONDOS IN HEART OF KISSIMMEE, FOR UNDER $130K! Bank owned prices, without the hassle factor! These condos are NOT listed on the MLS. An opportunity for an investor to aquire 5 Cascades condos in one clean deal at foreclosure prices without having to bid against a dozen other bidders, collecting one unit at a time, and without having to wait weeks for a response only to be asked to complete mounds of additional paperwork. Unit # 1/1 615 SF - vacant Unit # 1/1 750 [...]
Bank Owned / Foreclosures (REO) Each bank is different, and has it’s own procedures. Some will take the first “good†offer they get, others will ask their agent to “hold all offers†until the first 7-14 days have passed. Therefore, you may hear something within 48 hours - or you may wait 2 weeks. Equally, you may not hear anything at all. Some banks have so many offers that they only respond to the person whose offer they decide to accept. In general, no news[...]