Developers are a unusual and remarkable breed. Condo Metropolis sat down for coffee with one of downtown Orlando's most influential developers, Steve Kodsi of Historic Creations. Steve Kodsi "Steve, with The Sanctuary and Star Tower, Historic Creations has created two of downtown Orlando's most visible and iconic new buildings. Tell me a little about how these two projects came about." Well the time was just right for The Sanctuary. It was the real first mixed use Orlando condo project in over[...]
The Sanctuary condominium downtown Orlando has announced a new condo promotion. On the heels of our recent Sanctuary visit, they have decided to blow out their remaining few Developer units. Details follow. Contact us on 407-290-3408 for a tour! Unit 1507~ Spacious 2 Bed/ 2 Bath, with 1970 sf, one assigned parking space and a storage unit on the 15th floor. With GE Profile stainless appliances and granite countertops and much more. Spectacular views to the East of the sunrise's and the space [...]
I recently heard from a colleague who had questions about the rights of condo buyers in these uncertain economic times. He asked a series of questions which I feel are pertinent to the current situations many of you might be facing in your associations. His first question was in regard to the unpaid assessments of a sellers unit and if those assessments could become a lien or mortgage right of the association, and if so would it be in a senior or junior position to the mortgage holder of the [...]
Bella Piazza luxury condos in Davenport (SW Orlando) are doing some incredible blowout deals right now. For those of you waiting on a deal on a second home or holiday villa close to Disney, this is the place to jump on - now. The Bella Piazza developers are releasing a limited number of units at about $100K off their retail pricing. This is a real deal. I have two clients writing contracts already and I'd encourage anyone who's looking for designer finishes at bank owned prices to step [...]
I took a potential buyer to see a home at The Sanctuary condos, downtown Orlando yesterday, and was reminded of its unique quality and style. With only 175 units in total, it's one of Orlando's most exclusive condominiums. It has a brand new diner downstairs and is also home to the condo's developer, Steve Kodsi The condo was a private sale (there are still one or two available via the developer) and was certainly one of the nicer units there. The owner spared no expense customizing the entire[...]
When I was training as a police cadet in London, I remember a certain drill sergeant asking me a question, to which the answer I offered was obviously less than satisfactory. "Listen son," he screamed. "Don't bullshit a bullshitter!" Advice I've never forgotten -Â and which I'd like to revamp for real estate purposes: Don't low ball a low baller. "The bank" is an institution not a person. And negotiating with a machine is different to negotiating with a person. The banks have done their [...]
Serra Vella condos in Altamonte Springs (North Orlando) has announced a new round of pricing. Surely this is cheaper than renting? The problem with condo conversions however is loans, which have become all but impossible. However one or two companies are now saying they can do non-warrantable condos. I got a call from one such company this morning. Serra Vella also has an in-house lender that may be able to help. Studio $54,900 1Bed1Bath  $59,900 2Bed1Bath $64,900 [...]
In a surprise move, the Fed decided on Wednesday to implement their often talked about plan to beÂcome a direct purchaser of long-term securities. Amongst other things, they are devoting 750 billion more dollars toward buying mortgage-backed securities over the next few months. Translation: The Fed has pulled out the biggest gun it has toward keeping mortgage rates down and is now using it liberally. The message to the markets is clear: Ben Bernanke and the Federal Reserve will pump[...]
To make life easier (particularly for out-of-state and overseas buyers), we're working on dedicating a page to each of the major condos in Orlando. Here you'll find photos and floor plans and a quick blurb about each of these popular Orlando condos. You'll be able to navigate to these new pages directly from the Condo Metropolis home page, where you'll see some changes soon. But for now: For more info on buying or selling at: Bermuda Dunes, visit our Bermuda Dunes condos page. The Vue [...]
February saw another increase in sales activity with pending sales up again. "Conditions are aligning very favorably in Orlando for buyers," says ORRA President Les Simmonds, L.G. Simmonds Real Estate Corp. "Local first-time buyers are particularly well positioned as a result of the new $8,000 first-time homebuyer tax credit, record low interest rate, and decreasing median price." The sales of condos in the Orlando area have increased by 71.05 percent. A total of 195 condos changed hands in [...]