Readers of our condo blog like one thing the best: The fact that we tell is like it is - good or bad. We highlight the good, but if there are shady goings on out there, we tend to speak up about that too. Lucas Lechuga is our counterpart in Miami. Buyers love his condo blog - developers, well, not so much. Tibor Hollo, the developer of the Miami condo "Opera Tower" has just filed a $25M lawsuit against Lechuga for making a comment in one of his blogs that he gone [...]
Serra Vella condos in Altamonte Springs, Orlando have always been a good deal in a decent neighborhood. Last week the deal began to look even sweeter as prices dropped another $10k making them pretty irresistable for those hoping to buy an Orlando condo in the $90k - $130k price range. You can now pick up a studio for $80k; a 1/1 for $82k; a 2/1 for $110; a 2/2 for $120k and a 3/2 for $160k. Let us know if you'd like a tour with us. You'll get 2 years HOA payments [...]
A couple of weeks ago, we forecast the mass buyout of cheap condos by investors which could reduce condo inventory and begin to threaten Florida's "buyer's market." Now, the Miami Herald reports that Jorge Perez, south Florida's condo tycoon, is setting up a $1B fund to purchase some of these troubled condo developments. As this happens, condos become rentals again and inventory shrinks. Perez' decision to launch a vulture fund -- or an ''opportunity fund'' as he calls it - could be [...]
A new year deserves a new look, so we've updated the Condo Metropolis search engine so it's easier to use. At the end of last year, we installed a visual map - so if you're not from Orlando you can actually see where all the neighborhoods are in relationship to each other, rather than relying on names you've never heard of. Also, when you get your search results, the tabs are gone and all the info you need is now on one page - and no more clicking around for [...]
Most Expensive Condo: Listed for: $212,800 Sold for: $161,000 (days on market: 104) Least Expensive Condo: Listed for: $135,000 Sold for: $100,000 (days on market: 164) Median sales price: $120,000 Average days market =Â 123 Total Condo Listings = 132 Total Sold = 5Source: Orlando Regional Realtor Association
I'm in the mood for ranting today. If you moved to Africa, would you be really miffed about the mean lions or those awfully aggressive heyeinas - and become indignant about how such dangerous animals shouldn't be allowed to "just roam around like that"? I sometimes hear would-be Florida residents ask me when they look at a condo with a nice lake view: "Awseome view... Wait, you don't suppose there are any alligators in there, do you?!" Yes, siree - real lakes sometimes have real, [...]
In our last episode (newsletter), we find our hero (me) saying:  ‘Wall Street bloodhounds are sniffing around for an emergency rate cut from the Fed. I don't see it happening. Emergency cuts evidence panic from the higher-ups, and maintaining a veneer of confidence is more important than ever. If the investing populace isn't convinced that the Federal Reserve has a handle on price stability and growth, mob mentality will set in and bad things will result.'  Boy, I [...]
2007 brought with it many interesting events that unfolded throughout the Country. Condominium and community associations were certainly not exempt from the tumultuous conditions as they found themselves struggling to manage through the loss of assessment revenue as many homeowners lost their homes to foreclosure. On the legal front, however, condominium association boards breathed a little easier after the Twin Rivers case was decided wherein the New Jersey Supreme Court ruled that the [...]
Most Expensive Condo: Listed for: $384,900 Sold for: $300,000 (days on market: 120)Â Least Expensive Condo: Listed for: $119,900 Sold for: $90,000 (days on market: 66) Median sales price: $200,475 Average days market =Â 68 Total Condo Listings = 511 Total Sold = 6Source: Orlando Regional Realtor Association
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