According to a recent (Star Tower) press release, their half-acre rooftop garden on Osceola St. in downtown Orlando is fast becoming the new "in" venue in downtown Orlando. Albert Kodsi, president of Royal Palm who along with Historic Creations of Orlando developed the Star Tower condo, said recent rooftop events have included political rallies, charitable fundraisers and a recent Downtown Orlando Partnership event. "We are hosting events three and four nights a week on the rooftop," said [...]
This was a big week for economic data, especially concerning the fate of our ailing housing market. I try and avoid belaboring statistics because, well, they're boring as heck. These numbers, however, are pretty staggering. First, consumer confidence hit a 28 year low this month. John Q. Public is afraid of our problematic economy and the media is aggressively cramming that agenda down his throat. No surprise there. Consumer Price Index numbers came out this morning, which [...]
Because of the potential housing market meltdown, Fannie Mae has adopted new underwriting guidelines in terms of individuals buying housing in condominium and community associations. In the past, the major focus of lenders has been on the buying power of the purchaser, but in today's volatile housing climate, the new rules also stress the financial strengths of condominium and community associations. Lenders will be required to assume more responsibility for reviewing the finances of [...]
I received this email recently and asked the sender if I might share it since her story isn't unusual given all that has happened in the last couple of years. Names have been removed to protect the innocent, yada yada... "I am a condo owner at ...... Condominiums. I purchased my condo back in December of 2006. My husband and I bought in to this beautiful community believing that it was going to be exclusive to condo owners. As the real estate market took it's fall the owners of this property [...]
Stirling Sotheby's International Realty suspended auction sales of 28 luxury lakefront condominium units on Lake Conway Saturday after potential bidders overreacted to a week of bad economic news that included airline layoffs, record high gas price hikes, an increase in unemployment and a plunging stock market. "We had very strong interest in the project prior to auction," said Roger Soderstrom, founder and owner of Stirling Sotheby's International Realty. Registered auction bidders included [...]
A beautiful golf-front condo in exclusive Reunion Resort & Club has just been drastically reduced to $399,000 completely Furnished! Every other condo that has been purchased since 2007 in Heritage Crossing has sold from $569K- $452K, with the average purchase price being $481K. The owner of this privately owned condo wants to make a deal ASAP. This gorgeous 3 bedroom condo is located in the Heritage Crossing neighborhood, and is situated around the 11th, 12th & 13th holes of the Arnold [...]
Short notice I know (I've been away) but there's another opportunity to pick up good deals this weekend at the Conway Crest auction (between Sand Lake Road and S. Conway). Condo Metropolis is working through the Newly formed Stirling Sotheby's Concierge team to give our clients the highest level of professional service available. Benefits would include: Being the first to be notified about upcoming auctions Onsite tours and information Pre registration Express Sign in Day of Auction Top [...]
This week was a mixed bag of encouraging economic news and dismal forecasts from everyone who matters. I'll do my best to keep the statistics to a bare minimum, but there are a couple of pertinent numbers that deserve our attention. First and foremost, our 1st quarter Gross Domestic Product growth was revised upwards from +0.6% annualized to +0.9%. That implies that our economic slowdown isn't quite as shocking as analysts 1st expected. Also, the core inflation reading was revised downward [...]
One of the biggest disappointments with second home ownership comes from investors making a fairly simple mistake. They think that they can buy a condo in a place like Orlando, stay there whenever they want, and have it rented out the rest of the time to make them some money. Sounds reasonable? Just remember: Orange County (home of downtown Orlando etc.), unlike Osceola County does not permit rental periods of less than 7 months. (Disney and its environs are in Osceola County.)[...]
Calling Orlando Investors / Developers Investment groups and syndicates interested in investing in Orlando condo / town home / single family home bulk buys where the group intends to purchase at heavily discounted prices should call us on: 407-290-3408 or email: Investors@CondoMetropolis.com. There are presently a large number of developers in Orlando who would be prepared to listen to serious syndicates who wish to take advantage of the current climate while assisting developers to close out [...]
(407) 901-5161
Orlando Property Enterprises | All rights reserved