One lucky Orlando family will win the ultimate gift of a total kitchen make- over. The winner will receive new Wood Mode cabinets, brand new Thermador appliances, Kohler sink and faucets, as well as granite counter tops and back splashes. The contest is sponsored by local Maitland condo developer Vincent Pellicane of the Trevi Development company. Mr. Pellicane's goal is to help a local family achieve the kitchen of their dreams. The kitchen will be a duplicate of the planned condominium [...]
Ouch! We just got posh'd. It sounds like something that might happen at a Spice Girls' wedding - but I'm told it's actually a good thing. Shaun McLane has started a new site called Posh'd.com aimed at showcasing the country's best real estate sites. And he picked us as one of the opening sites... Awww... thanks Shawn - we love you too! In the site's About Us section Shawn explains: "Ever visit other Real Estate websites for inspiration? Ever notice how many of them are VERY similar? We [...]
People often tell me that they're interested in seeing this new condo place, you know, the one... can't remember the exact name, the one with "Millenia" in the title. Ok, that's easy enough right? I mean, how many can there be? Other than the Residences at Millenia, Millenia Cove, Millennium Palms, The Plaza at Millenia, The Fountains at Millenia, and um, I'm already bored. If you tend to get confused by this lack of creativeness, you're not the only one. If we didn't have our database, we'd be[...]
If you want to see the trend here, look down the right-hand sidebar until you see "categories." There, you'll see the category "Zip Code of the Week." Click on the link and you will pull all those records together on one page. Now you can examine Orlando. The last "Zip Code of the Week - 32804 - tells and interesting story, and illustrates an even better point. Both the least and the most expensive condos sold for significantly less than their original asking price. Two years ago, the same [...]
Most expensive condo: Listed for: $1,029,000 Sold for: $820,000 (days on market = 160) Least expensive condo: Listed for: $107,500 Sold for: $97,154 (days on market = 84) Median sales price: $403,264 Average days on market = 84 Source: Orlando Sentinel
The Trevi, a luxury condominium development just north of downtown Orlando, is putting together a novel series of seminars this summer, designed to help home owners and investors understand the local real estate market. The series begins April 19th (that's this Thursday) and will cover a host of useful topics designed to get your investment juices flowing: April 19 - Maitland: A new beginning. Past, present and future of Maitland, with reps from the City of Maitland and Chamber of Commerce. [...]
Last November I was talking about the trend of some condo conversions to return to rental once it becomes clear that there are insufficient sales to make the conversion work. When it comes to pre-construction deals, then they just don't get built. For example, Eola Place cleared ground in December 06, only to close its doors a month later. It seems the Knightsbridge at Stoneybrook conversion may be just the latest in a long list of properties that sadly have been unable to weather the storm.[...]
I think Imus is rubbing off on me: what I really meant by that headline is that according to the OBJ, the much famed mouse-town is about to get its first active adult community. The as yet unnamed development, is the second to be announced since I complained that Orlando condo developers appeared not to be gearing up for the Great Wrinkly Invasion. Avalon Park announced a similar intention just a week ago, but it's a San Diego company that is now proposing the $85 million, 416 -unit, 14 [...]
Pre-construction. Downpayments. Now why would anyone want to tie up 20% of half a million of their dollars (at zero interest) for a year or two on a property that might never get built, when it could be earning 5% in a CD? That's the question buyers are posing, since that's what most developers are looking for. Even if the property actually increases in value, if it's only by a couple of thousand dollars, then you could still be upside down on the deal. And unless you've got a wad of spare [...]
Most expensive condo: Listed for: $229,900 Sold for: $235,000 (days on market = 144) Least expensive condo: Listed for: $79,000 Sold for: $76,000 (days on market = 70) Median sales price: $108,325 Average days on market = 92 Source: Orlando Sentinel