Star Tower condos on Jackson and Osceola Streets in downtown Orlando report they have completed construction of over half of the units and have begun closings. They expect to complete closings on half of the 100 condominiums by the end of the year. Albert Kodsi, president of Royal Palm, said most buyers who reserved units at Star Tower want to complete their transactions soon and are anxious to move in. Ninety percent of the units at Star Tower Condominium are 1,765 square feet or larger and [...]
Every so often, I feel blessed. Like last month, when they came out with that new pill on TV where you can "Eat as much as you like and still loose weight!" (and they couldn't say it if it wasn't true). Ok, so maybe I wasn't so lucky with that one since during the great "Prove-them-wrong-eat-athon" of October '07, I actually gained ten pounds. However, I did feel truly blessed, when it became clear to me that one of the newest crazes in the Orlando condo market was about to incorporate my [...]
Most Expensive Condo: Listed for: $770,000 Sold for: $610,000 (days on market: 288) Least Expensive Condo: Listed for: $179,900 Sold for: $160,000 (days on market: 134)Â Median sales price: $263,000 Average days market =Â 171Â Â Â Â Â Â Source: Orlando Sentinel
Capri condos in Hunter's Creek are selling their final few units and heavily reduced prices. In fact the developer claims that "No reasonable offer refused" Now that's what I call a Buyer's Market! Capri was one of our first Featured Condos on CondoMetropolis.com and it's a very good community. As we reported last month, a handful of the condos were not closed on by investors who had overstretched themselves and were subsequently returned to the developer. Hunter's Creek is a great [...]
NEWS FLASH: For those of you who missed the last Orlando auction, there may be a second chance sooner than you think. Like THIS weekend. This Orlando auction promises to be an even bigger event and a very different animal. Whereas the last auction was just condos from just two different developments in one neighborhood, this one, scheduled for October 6th in the Universal area will auction over 100 properties - some out of state. Properties worth over $2 million will be up for grabs in an [...]
Like all the current downtown Orlando condo projects, Tradition Towers has been in trouble for a while now. In fact, rising construction costs and low demand have caused over two thirds of the downtown condo projects to be either put on "developer hold" or scrapped altogether. In mid-August, Condo Metropolis talked about the Monarch condo hotel's plans for restructuring, now the Orlando Sentinel reports that Tradition Towers is also drawing up plans for a lifesaving rethink. That rethink [...]
There's a new Disney rollercoaster called The Volatile Real Estate Market ride (you have to be at least "this desperate" to ride), but I've been on it - and only half the ride is working. Sellers are selling, but why aren't buyers buying when it's so clearly a ‘buyers' market in Orlando? The reason is, everybody wants to wait until we reach a new feeding frenzy and everyone has to pay twice as much for half the size. Yet, right now you can pick up some amazing [...]
Yep, you heard it right. There's another on condo hotel the way. Lost count yet? According to the Orlando Business Journal, the proposed 16-story, 350-room condotel is set to break ground in spring 2008 and should be ready in 2009 at a cost of some $140 million - which really means (if it gets built at all) that it will come online around 2011 at double that cost. Call me a cynic. But with most of the pre-construction condo hotel projects delayed or stalled, I'm only recommending [...]
Most Expensive Condo: Listed for: $521,864 Sold for: $447,000 (days on market: 52) Least Expensive Condo: Listed for: $127,900 Sold for: $126,400 (days on market: 36)Â Median sales price: $208,000 Average days on market =Â 89Â Â Â Â Â Â Â Source: Orlando Sentinel
The Baby Boomers are hitting the age now where they are retiring, whether they have only just retired, are just in the process or have been retired for a short while. Many of them are looking for a place to settle down and enjoy their golden years while still maintaining the lifestyle they are accustomed to. Having worked and saved their entire lives, baby boomers have been considering where they will retire for many years. One of the top places that baby boomers consider is Florida. They are [...]
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