There will be a repeat of last month's Orlando auction on Wednesday October 15th. Like the last banked owned foreclosure sell off, Bidders must register prior to the auction and will need to bring a personal or cashier’s check for $5k in order to bid. Winners will pay the bid amount plus 5%. Condo Metropolis will be there assisting our bidders. For more info, email full legal name of potential bidder(s) to Admin@CondoMetropolis.com
Lake Buena Vista Resort Village and Spa Condos Orlando Money can't buy me love - but a million bucks can buy you into to the U.S. (Update: As of 2010, the investment required is now just $500,000.) In a first for Florida, the developers of Lake Buena Vista Resort Village & Spa are able to invite foreign nationals to become lawful permanent residents of the United States. Their application with the United States Citizenship and Immigration Service which will permit foreign investors in Lake[...]
The sales of condos in the Orlando area decreased by 31.33 percent in August: A total of 114 condos changed hands in August 2008 compared to 166 in August 2007. In a month-to-month comparison, August 2008 condo sales (114) decreased by 14.93 percent from July 2008 (134). Year to date, condo sales are down 43.71 percent, with 939 condos sold so far in 2008 compared to 1,668 sold through the same time in 2007. In August, the most (20) condos that changed hands were in the $100,000 - $120,000 [...]
Maitland's two main condo projects have been on hold since the market tanked but this week's OBJ report suggests they may never go ahead. We've been following both the Trevi and its neighbor Ravinia since their inception but their fate never looked good - which is a shame for Maitland, which is now entering its golden years and would frankly have benefited from the face lift. And while the Trevi's low occupancy, high luxury conception was at least feasible, Ravinia's notion that [...]
A few weeks back, we saw IndyMac bank get seized by the government, marking the biggest bank failure ever to happen in these United States' history. So what happened today, you may ask? The biggest bank failure ever EVER in these United States' history. Yessir, in a thrilling display of one-ups-manship, Washington Mutual imploded under the weight of it's own bad debt and was acquired at bargain basement prices by J.P. Morgan Chase. Mind you, this is the same Chase that picked up the [...]
6:30pm on a Wednesday night: An unlikely start time for an auction perhaps, but over 800 were seated by the time bidding began, and the total number of visitors over the course of the next four hours likely topped 1000 according to our estimates. The REDC auction of central Florida bank owned properties included million dollar mansions and mediocre condos - and some bargains were had with most properties selling for about 40% of their prior estimated worth (and although some of those [...]
Orlando auctions are becoming ever more frequent. This month, more than 600 Orlando condos and single family homes go under the gavel at various locations throughout Florida over a six day period. Organized by one the country's biggest auctioneers, the Orlando auction is scheduled for Wed Sept 24th at 6:30pm at the Orange County Convention Center on International Drive. Homes from Volusia, Lake, Orange and Seminole counties will be on offer, with most bids staring at $1-3k. Bidders must [...]
Some house hunters are more independent than others. They like to tour around on their own and swing by properties at their convenience. This is not always to be recommended since the agent that will greet you is representing the seller, but sometimes it's not always realistic to call your agent when you happen to pass something interesting on the way home. That's ok, but if you're working with a Realtor, you must remember to register them at each property you visit. With most development sites,[...]
Swimming pools and children. For some homeowner associations, the two do not always go together well. Some HOAs wishing to create "adults only" pool time have adopted rules that prohibit children from the swimming pool during certain times and in the process have violated the Fair Housing Amendments Act of 1988 ("the Act"). The Act was amended in 1988 to prohibit discrimination against any person in their use of a dwelling based on their "familial status." The Act defines "familial status" as a[...]
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