Sick of hearing about the housing market? Ok, here's an unusual condo story: Almost four miles of copper wire disappeared from Orlando construction sites this week including 101 Eola condos and the Dynetech Center condos downtown. Apparently, international shortages have driven the price of copper above $3 a pound at scrap metal dealers. Who knew? Last Friday afternoon, the last workers to leave 101 S. Eola St. locked up as usual, but at 8 a.m. Monday, an electric crew wiring the building [...]
As the housing market ties itself in knots, developers continue to frantically search for solutions to move their condos. Sales Teams are switched, marketing strategies are changed and incentives reorganized. Today will see the departure of Coldwell Banker's The Condo Store from Downtown Orlando condo Solaire as rival company Lifestyles move in. Meanwhile, Lifestyles finds itself usurped at other communities to be replaced by The Condo Store or, in some cases, the developers [...]
Most Expensive Condo: Listed for: $839,9000 Sold for: $883,143 (days on market: 218) Least Expensive Condo: Listed for: $246,900 Sold for: $247,150 (days on market: 1) Median sales price: $398,035 Average days on market = 146 Source: Orlando Sentinel
Roofable (www.roofable.com) is a new real estate and neighborhood blog for the Orlando area by local Eric Hersman. He's been blogging about real estate for a while at RealtyThoughts.com but his new blog is Orlando specific. "Because I live in Orlando I keep looking for good local real estate blogs. I wanted to make the meta-real estate blog for Orlando and use that to help grow the hyper-local real estate agent blogs that should be coming up around the area in the near future." If you're[...]
According to the lastest MetroWest newsletter, 2006 sales were strong - and only the Waterford Lakes area closed more homes in 2006 - by just two. My guess is that with the new, enhanced security MetroWest now enjoys, more buyers will feel confident enough to buy in this neighborhood again, and 2007 will see an even stronger surge - relatively speaking. MetroWest's resurgence has a lot to do with the opening of Veranda Park. Kevin Azzouz, the developer of this multi-million [...]
(For info on the Orlando condo auction August 29, 2009 visit the Altamonte Springs Orlando condo auction page.)  Two of Orlando's condo communities will be holding an auction in just under a month which could mean massive savings for those who are ready to act fast and are qualified to buy. The communities, located in the Altamonte / Wekiva neighborhoods, have been selling for a year or so and the developers are ready to close out those communities with a bang! In order to be able to [...]
It's been about a year since my favorite downtown-condo-in-the-making, The Monarch launched its sales effort. In this week's OBJ, Anjali Fluker reports that current market conditions may have the developers modifying their original plans. I doubt they're alone. Other new downtown projects include Tradition Towers, The Vue, 55 West, Star Tower, and the Paramount. Most of these are in some state of construction with only The Monarch and Tradition Towers not having broken ground. In [...]
Most Expensive Condo: Listed for: $259,900 Sold for: $227,246 (days on market: 211) Least Expensive Condo: Listed for: $137,000 Sold for: $?? (days on market: 102)Â Median sales price: $145,000 Average days on market =Â 129Â Â Â Â Â Â Â Source: Orlando Sentinel
We'd all like new of course - but can you afford it? We all know that new costs more than conversion, right? Not necessarily. Some developers overpaid for their converions and are now having to sell them at rates which are actually higher than new construction. On the other hand, owners of older resale condos usually have greater predictability of maintenance expenses and monthly fees because the construction defects of new units have been repaired. Defects? Ahh.. yes.. and plenty of [...]
I received news this morning that that are a handful of units left at two of Orlando's more popular condo conversions. Although both officially sold out some time ago, investors who claimed them have been unable to close, putting them back in the market for buyers who are able to act quickly. At Azur in MetroWest there are less than a dozen condos - units that were claimed early on - and are some of the best condos on the property. Pricing is looking great with 2/2s from $154 [...]
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