Lake Buena Vista Resort Village and Spa Condos Orlando Money can't buy me love - but a million bucks can buy you into to the U.S. (Update: As of 2010, the investment required is now just $500,000.) In a first for Florida, the developers of Lake Buena Vista Resort Village & Spa are able to invite foreign nationals to become lawful permanent residents of the United States. Their application with the United States Citizenship and Immigration Service which will permit foreign investors in Lake[...]
Hooray! The bailout plan has made it through Senate and the House of Representatives and is now on its way to President Bush's desk to be signed into law! We're all saved! Champagne and cigars all around! Let the good times roll again! Or is it slightly too early to celebrate? Here's what we know: the non-passage of this bill trashed the stock market on Monday (down 777 points on the Dow). Passage of the bill did very little to help equity markets and it is highly [...]
Over the last few days, lenders have received many questions in regards to the availability of mortgage funds in the credit markets. Now that the Federal Government controls Fannie Mae and Freddie Mac in addition to FHA and VA, these traditional sources of mortgage funding are still readily available. In addition, working with a direct lender can help ensure a seamless process and access to these loans. More problematic is the availability of jumbo financing, as the current credit crunch has [...]
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 [...]
Maitland's two main condo projects have been on hold since the market tanked but this week's OBJ report suggests they may never go ahead. We've been following both the Trevi and its neighbor Ravinia since their inception but their fate never looked good - which is a shame for Maitland, which is now entering its golden years and would frankly have benefited from the face lift. And while the Trevi's low occupancy, high luxury conception was at least feasible, Ravinia's notion that [...]
A few weeks back, we saw IndyMac bank get seized by the government, marking the biggest bank failure ever to happen in these United States' history. So what happened today, you may ask? The biggest bank failure ever EVER in these United States' history. Yessir, in a thrilling display of one-ups-manship, Washington Mutual imploded under the weight of it's own bad debt and was acquired at bargain basement prices by J.P. Morgan Chase. Mind you, this is the same Chase that picked up the [...]
6:30pm on a Wednesday night: An unlikely start time for an auction perhaps, but over 800 were seated by the time bidding began, and the total number of visitors over the course of the next four hours likely topped 1000 according to our estimates. The REDC auction of central Florida bank owned properties included million dollar mansions and mediocre condos - and some bargains were had with most properties selling for about 40% of their prior estimated worth (and although some of those [...]
Economic bulimia. Binging and purging. That's exactly what our country's financial markets are exÂperiencing. Over the course of ONE WEEK, we've seen the following happen: Lehman Brothers declares bankruptcy and Merrill Lynch narrowly dodges bankruptcy by being taken over by Bank of America, leaving only 2 of the original 5 major investment banks standing. Goldman Sachs and Morgan Stanley (the 2 remaining investment banks) saw their stocks get trashed as our investment community [...]
Orlando auctions are becoming ever more frequent. This month, more than 600 Orlando condos and single family homes go under the gavel at various locations throughout Florida over a six day period. Organized by one the country's biggest auctioneers, the Orlando auction is scheduled for Wed Sept 24th at 6:30pm at the Orange County Convention Center on International Drive. Homes from Volusia, Lake, Orange and Seminole counties will be on offer, with most bids staring at $1-3k. Bidders must [...]
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