Question: One of our members is refusing to pay his annual dues. He has sent us NSF checks and simply does not seem to care. His property is unkempt and no longer lived in. What are our options? Answer: You need a Collection Policy which complies with your governing documents and that details the specific collection steps that will be taken in the event of non-payment. Typically, those steps should start when a payment is no more than 30 days late. After several written notices, the matter [...]
Half a million dollars worth of advertising doesn't go a long way these days, especially in New York. That's the price tag on a brand new Manhattan marketing campain undertaken by Orlando real estate brokerage, Condo Metropolis this month. The larger than life campaign is designed to co-incide with the company's launch into the New York market in the second quarter of 2010. Marcus Burke, founder and broker for Condo Metropolis LLC believes that spent in the right places, even a [...]
BULK CASH DEAL 5 CONDOS IN HEART OF KISSIMMEE, FOR UNDER $130K! Bank owned prices, without the hassle factor! These condos are NOT listed on the MLS. An opportunity for an investor to aquire 5 Cascades condos in one clean deal at foreclosure prices without having to bid against a dozen other bidders, collecting one unit at a time, and without having to wait weeks for a response only to be asked to complete mounds of additional paperwork. Unit # 1/1 615 SF - vacant Unit # 1/1 750 [...]
Bank Owned / Foreclosures (REO) Each bank is different, and has it’s own procedures. Some will take the first “good†offer they get, others will ask their agent to “hold all offers†until the first 7-14 days have passed. Therefore, you may hear something within 48 hours - or you may wait 2 weeks. Equally, you may not hear anything at all. Some banks have so many offers that they only respond to the person whose offer they decide to accept. In general, no news[...]
Members of the Orlando Regional REALTOR® Association filed 4,043 new sales contracts in the month of February, the greatest monthly tally since the organization began recording the statistic in 2005 at the height of Orlando’s red-hot market. The number represents a jump of 66.11 percent more new contracts filed in February 2010 than in February 2009 (2,434). The sales of condos in the Orlando area increased by 116.02 percent in February when compared to February of last year, and[...]
Lender & Law Firm Both Held Liable Court Rules in Favor of Condominium Association After Lender Fails to Move Foreclosure Proceedings Along or Comply With Court Orders. Bank required to pay over $13,000.00! On Feb. 8, 2007, the Bank of New York filed a mortgage foreclosure lawsuit against a unit owner, naming the Moorings at Edgewater Condominium Association, Inc. as an additional defendant in the case. The defaulting unit owner filed for bankruptcy on May 1, 2007, which [...]
LAKE BUENA VISTA RESORT VILLAGE & SPA, ORLANDO NOW AN APPROVED $500,000 EB-5 REGIONAL CENTER We are very excited to announce that as a result of discussions with the United States Citizenship and Immigration Service (USCIS) Lake Buena Vista Resort Village & Spa is now available for investment of $500,000. Why is that so great? Well... Last year, the Lake Buena Vista EB-5 cost was double at $1MM; This is the only fully built  EB5 Greencard project in the [...]
The much anticipated auction at the The Vue at Lake Eola condominium tower finally took place this morning, ending with final bid of nearly $26 million. The buyer of the remaining units at the downtown Orlando tower is reported to be Condo Developer LLC, a Delaware-based corporation that appears to have been created specifically for this purchase. Of the 375 units originally for sale, approximately 165 unsold units remain, along with nearly 8,000 fee of retail space. This averages out at [...]
As I sift through the various economic reports America has to offer on a monthly basis, I am filled with a unique, awkward kind of happiness. Looking at the numbers and smiling is kind of like being happy that your friend isn’t on fire anymore. You think “great, my buddy’s not burning anymore†right before you realize “man, my buddy’s pretty badly burnt regardless.â€Â A morbid sense of compaÂrable relief. Case and [...]
Condo Inventory Still Dropping in Orlando While naysayers insist that further house price declines may still be on the horizon, investors in Orlando are voting with their pocket books in droves. There are currently 15,911 homes available for purchase through the MLS. The January 2010 inventory level is nearly 30% percent lower than it was in January of 2009 (n=22,613). The current pace of sales translates into 9.13 months of supply; January 2009 recorded 21.54 months of supply. [...]