Palm Harbor, in case you're wondering, is on the Gulf side of FL near Tampa (West Coast.) This condo conversion looks like a great leaseback deal for investors / overseas buyers... i.e. when you purchase here, they will guarantee full rent for at least two years regardless of occupancy, plus pay 2 yrs of taxes and maintenance (HOA) fees. For more information on Madison Oaks, contact us on 407-901-5161.
You guys may notice a new logo at the top of this newsletter. Your friendly local mortgage    professional has decided to hang his hat at a new brokerage, opening up access to almost twice as many lenders and, most notably, FHA financing. The government's working for ME now. Take THAT, Uncle Sam. Aside form that, practically nothing has changed.Now to the fun stuff. Volatility continues to riot in the markets. The Dow Jones Industrial averÂage is at it's [...]
"You put down 20% and get a 30-year fixed-rate mortgage at today's rate of 5.5%. Monthly principal and interest come to $994.31. Let's say that 12 months from now the same house goes for 10% less, or $197,010. But by then the recession is history and the Fed is jacking up rates to stem inflation. If mortgage costs rise just half a point, to 6%, your monthly payment would be $994.94 and you'd have saved nothing. Meanwhile, some prices might steady and sellers might become less willing to [...]
The buyers might have liked them a little cheaper. The developers might have liked a little more money. But in the end, nothing spectacular happened at the Solaire condo auction. And an hour and a half after it began, it was all over. About 150 folk showed up in the end - and although 42 condos were originally offered, only about 30 bidders were eventually successful. The Orlando Sentinel reports that the low price paid and the way the property was sold "may cause sleepless nights for [...]
You probably know this already, but you can pay a decent premium when buying downtown if you want a view of Lake Eola - rather than the I4 freeway. But standing between the 35-story Vue condo tower and its views of the lake and park could be a 42-story tower that will leave residents of the Vue looking at a wall of concrete. Bummer. According to folk in the know at the Sentinel, that scenario is behind a brewing development war that could go down among the city's most bitter. Highwoods [...]
Most Expensive Condo: Listed for: $222,000 Sold for: $184,664 (days on market: 76) Least Expensive Condo: Listed for: $98,000 Sold for: $92,000 (days on market: 80) Median sales price: $120,000 Average days market =Â 124 Total Condo Listings = 81 Total Sold = 3 Source: Orlando Regional Realtor Association
I was watching the local news today (as I have been known to occasionally do) and they seemed intent on drilling the frightful idea of $4.00/gallon gas into our heads. It seems that newscasters don't take very long to get on my inflationary bandwagon and start trying to freak everyone out. These concerns are coming on the back of crude oil hitting $100/barrel again, a level that was once looked on as a market novelty. Now, economists are divided on whether oil will recede or move to all[...]
Tradewinds Condo Auction 100 Will Sell Absolute! No Minimums! No Reserves! Saturday, March 29 2008 at 11:00AM The owners of Tradewinds condos in MetroWest Orlando, have decided to take their chances at auction, after a series of no-go, low-ball offers from investors, There are still over 200 condos at Tradewinds, and the first 100 will be sold "absolute" (regardless of price). The remainder may be added depending on the outcome of the first 100. There are 1 & 2 bedrooms available with [...]
Solaire Practice Auction For those who register, there will be a practice auction on February 29th at the Embassy Suites Hotel in downtown Orlando. The Solaire practice auction will demonstrate the auction process and help you become more comfortable for the March 1st event. The practice is also a great time to ask the auctioneer any questions you may have about the auction process. For more info on the Solaire auction see our previous postings. You can use this form to begin [...]
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