Members of the Orlando Regional REALTOR® Association filed 4,043 new sales contracts in the month of February, the greatest monthly tally since the organization began recording the statistic in 2005 at the height of Orlando’s red-hot market. The number represents a jump of 66.11 percent more new contracts filed in February 2010 than in February 2009 (2,434). The sales of condos in the Orlando area increased by 116.02 percent in February when compared to February of last year, and[...]
Lender & Law Firm Both Held Liable Court Rules in Favor of Condominium Association After Lender Fails to Move Foreclosure Proceedings Along or Comply With Court Orders. Bank required to pay over $13,000.00! On Feb. 8, 2007, the Bank of New York filed a mortgage foreclosure lawsuit against a unit owner, naming the Moorings at Edgewater Condominium Association, Inc. as an additional defendant in the case. The defaulting unit owner filed for bankruptcy on May 1, 2007, which [...]
LAKE BUENA VISTA RESORT VILLAGE & SPA, ORLANDO NOW AN APPROVED $500,000 EB-5 REGIONAL CENTER We are very excited to announce that as a result of discussions with the United States Citizenship and Immigration Service (USCIS) Lake Buena Vista Resort Village & Spa is now available for investment of $500,000. Why is that so great? Well... Last year, the Lake Buena Vista EB-5 cost was double at $1MM; This is the only fully built  EB5 Greencard project in the [...]
The much anticipated auction at the The Vue at Lake Eola condominium tower finally took place this morning, ending with final bid of nearly $26 million. The buyer of the remaining units at the downtown Orlando tower is reported to be Condo Developer LLC, a Delaware-based corporation that appears to have been created specifically for this purchase. Of the 375 units originally for sale, approximately 165 unsold units remain, along with nearly 8,000 fee of retail space. This averages out at [...]
As I sift through the various economic reports America has to offer on a monthly basis, I am filled with a unique, awkward kind of happiness. Looking at the numbers and smiling is kind of like being happy that your friend isn’t on fire anymore. You think “great, my buddy’s not burning anymore†right before you realize “man, my buddy’s pretty badly burnt regardless.â€Â A morbid sense of compaÂrable relief. Case and [...]
Condo Inventory Still Dropping in Orlando While naysayers insist that further house price declines may still be on the horizon, investors in Orlando are voting with their pocket books in droves. There are currently 15,911 homes available for purchase through the MLS. The January 2010 inventory level is nearly 30% percent lower than it was in January of 2009 (n=22,613). The current pace of sales translates into 9.13 months of supply; January 2009 recorded 21.54 months of supply. [...]
Here are the latest 55 West apartment / condo offerings downtown Orlando: Gramercy x 2 starting at $1295 - May. x 2 Gramercy's starting at $1465. Soho - $1144 - March Village- $1486 - May 55 West City Residences: Small 1 bedroom! (825 sq ft) $1393 1 Large bedroom for $1467 pool view-12th floor... 1060 sq ft!  2/2's: (1300/1329/1402 sq ft)- starting at $1668 3/2's: starting at $2215 @ 1808 sq ft, 3 bathroom, an OFFICE AND 2 parking spots! 3/3 1808 SQ FT as low as [...]
Question: Our state statute states: "Unless otherwise provided in the governing documents, the homeowners association board of directors shall adopt and amend budgets for reserves in an amount adequate to repair and replace major capital items in the normal course of operations without the necessity of special assessments, provided that the amount set aside annually for reserves shall not be less than 10% of the budget for that year." What does "adequate" mean? Answer: If a special assessment [...]
We've just launched our new website for Downtown Orlando condominiums! Above is our new video for the site which can be found at: http://www.OrlandoCondosDowntown.com. We hope you like it. Turn up the sound and watch it in hi res! You'll find all of Orlando's downtown condos, lofts and penthouses there from new construction like the Sanctuary and Star Tower, to downtown condo conversions like Uptown Place. You'll also find a great new map that will let you see them all in relation to each [...]
Condo Juice is a new blog that is designed to help condo owners that live in small, self-managed, buildings. The sites owners say: "We know that you face unique challenges running and managing your homeowner association and there is not really much good advice out there. Condo Juice is here to keep you up to date on best-practices you should be following and to give you tips on how to make condo self-management not seem like a big hassle." Condo Juice has tips and advice [...]