Miriada Condos, Orlando: Hardwood floors, stainless steel appliances, upgraded bathrooms, ceiling fans and convenient for the airport - this condo has FOUR bedrooms, 2 bathrooms, is a 1st floor and end unit, Seperate living/dining rooms, master bath has shower/tub combo, open parking, community pool and tennis courts. All for under $68,000?! You want low HOA fees? Try $287; you want low taxes? How about 2,000? This is a better deal than the best Miriada developer closeout deal [...]
Nearly seven times more homes in the lower-price ranges sold last month than in the upper ranges. This is typical of a rebounding market according to real estate economists. "Orlando's housing market appears to be following a recognized healing pattern - from the bottom up - as evidenced by the greater number of sales in the lower-price categories," said ORRA President Les Simmonds. "For example 75 percent of homes sold in April were purchased for less than $200,000, while 10 percent sold[...]
The Metropolitan condos, downtown Orlando Just came across this one: beautiful 1300 SF 2/2 condo - just 7 days on the market. Priced by the bank at just $125K - but expect multiple offers (see also today's HeraldTribune story). "The Metropolitan was renovated in 1993. Beautiful condo on 4th floor overlooking pool and view of Lake Eola. Move in condition - freshly painted, 2 Master Suites, walk in closet, fully equipped kitchen, includes Stainless Steel appliances - microwave, refrigerator, [...]
Question: An owner recently died and several board members believe the HOA should waive the monthly assessment for the widow. Is this permissable? Answer: The board has authority to make reasonable compromises on payment of HOA debts. But there is no debt issue here. So, if the board feels strongly about this, it should pass the hat to raise private money for the widow. The money should not come from the HOA pot. Question: We have a member that requested copies of HOA records which, granted, [...]
The annual homeowner association meeting convenes. The president announces that the floor is open for nominations. A fellow homeowner say to you, "You know, you would make a good board member." Before you have a chance to reply, some body movement indicates that you are willing, ready and able to serve. "The nominations are closed," a vote is taken, and suddenly YOU ARE ON THE BOARD OF DIRECTORS. You ask yourself, "What does being on the board mean, who is going to teach me and how much do I get[...]
Maybe you've heard, maybe you haven't, but our stock market has improved about 25% in recent months, coming from the lows of 6400 on the Dow to a current level of right around 8000. Great news, right? Time to double-up on those 401K contributions, right? Optimism and champagne are flowing freely in the streets, right? Maaaaaaaaybe not so fast. You see, the fun thing about the stock market is that the numbers can be doctored on a short-term basis by a ton of different factors. [...]
Enders Place condos, Baldwin Park is scheduled to go to auction on April 21st 2009, if New York condo conversion firm Lexin Capital fails to pay the $46 million owed to HSH Nordbank AG. According to the OBJ, Lexin Capital Inc. took over the 220-unit property in Orlando suburb Baldwin Park in 2006 but due to a lack of sales, have been unable to keep pace with their debts. Lexin Capital also converted the Celebration community now known as Siena at Celebration in 2004.
Orlando real estate market on the rebound? Orlando area home sales have continued to experience an increase in activity, with 47.59% more homes sold in March 2009 than March of last year. In addition, 76.06% more contracts were filed in the month of March 2009 than in March 2008. Overall, pending sales - considered by housing economists to be a reliable indicator of future sales - continued its upward trend in March to 4,906 - more than twice as many compared to March 2009. "Orlando [...]