The now landmark Downtown building known only as The Plaza, which includes almost 400,000 SF of office space, 105,000 SF of retail, a luxury 12 screen Movie Theater, 306 residential condominiums (Solaire) and a 1600 space parking garage has become a hub of the downtown business and social scene. The Plaza developed by Cameron Kuhn was considered by many to be the most exciting Orlando project of the real estate boom. Taking a block of run down shops and rat infested buildings on the corner of [...]
The United States Senate is expected to vote later today, on a bill to extend Unemployment Insurance benefits. This bill will contain the "Dodd - Lieberman - Isakson Amendment to Extend and Expand the $8,000 First Time Homebuyer Tax Credit." The Extended and Expanded Tax Credit will make the current tax credit bigger and better, and if passed will contain the following provisions: Amount:    $8,000 Eligibility:     ALL HOME BUYERS (Step-up buyers will[...]
Contrary to popular belief, Beelzebub did not invent adjustable-rate mortgages in an attempt to destroy America. Shocking news, I know. Seems like something he would do. I'm quite sure I'm going to receive some criticism for this, but I am predicting that a major lifeline for real estate will be the return of the dreaded ARMs (adjustable rate mortgages). Here's what's keeping housing numbers positive right now: [...]
55 West at the Esplanade downtown Orlando, finally went back to the bank last week. The Dutch lender who instituted foreclosure proceedings at the 55 West condominium last year repossessed the property following a no-bid auction on Friday. "It was kind of a formality," said Jeff Sweeney, commercial specialist with Grubb & Ellis Commercial Florida Inc., which is marketing part of the multi-use downtown Orlando highrise. Yep, this has been in the works for some time. About $240 [...]
The Lake Buena Vista Resort Condo team was excited to learn that their EB-5 employment based immigration program had been extended until the end of October with very positive news of a three-year extension still being discussed in the Senate. The little-known EB-5 program is an incredible opportunity for foreign nationals to quickly acquire Green Cards for themselves, their spouse, and all their unmarried children under the age of 21. Two key requirements of the program are to invest in a [...]
There are few things more basic to a homeowners association than the fees it takes to keep the place running. When one or more owners default in the payment of fees, the impact is felt by all. And the longer the delinquency, the deeper the cut. It is a situation that many boards dread because of having to deal with neighbors. Here are a number of ways to reduce the impact of, cure or avoid collection problems in your community: Establish a collection policy with teeth. While this sounds simple [...]
Last Thursday held two mortgage-market unfriendly items that are worthy of note: Fed Chairman Ben Bernanke stated that the Fed was inching closer to an inclination to raise short-term interest rates and America held a poorly bid 30 year bond auction. Mortgage rates suffered and increased as a result. That's the bad news. The good news is that even with that big whack to rates, we're still hanging out just at or below 5% on an FHA insured 30 year fixed loan. Boo-yah. This is Greg [...]
Bella Piazza Condos Davenport, Orlando: For those who were not fast enough during the recent developer closeout. A 4-bedroom unit has been returned to the market priced at $165,000 - with 2% back towards closing costs.  It is a fully-furnished, vacant condo on the second floor that will need to close immediately. We will need a ten percent deposit to close cash within 15 days of contract signing. The floor plan of the Palermo floorplan along with the site plan, the unit number is [...]
The Vue at Lake Eola downtown Orlando Orlando's The Vue Condos are back in the news as six creditors attempt to force Orlando's tallest condo project into liquidation. The various banks and insurance companies filed a Chapter 7 petition on Oct. 1 against The Vue Orlando LLC. The petition claims The Vue Orlando owes the firms a total of $14.6 million in loans. The Vue At Lake Eola The Vue at Lake Eola, a 375-unit, $100 million condo tower at 150 E. Robinson St., broke ground in spring 2005 [...]
Stirling Sotheby's International Realty and WW Auction Realty Services will be conducting an auction on October 24 for 29 Luxury Condos and 13 Town homes in Venetian Bay near New Smyrna Beach. This will include 2, 3 and 4 Bedroom Condos as well as 2 bedroom town homes previously listed from $230K to $600K. Suggested Opening Bids will start at $115K and 10 homes will be sold absolute. Venetian Bay is on SR 44, 12 miles from I-4, 8 miles form the ocean, and conveniently about and hour from [...]