With new construction finally at a low, people are now actually moving into new homes faster than builders are erecting them. Accordingly, Orlando's inventory of new subdivision housing fell again during the second quarter. That's according to a report by Metrostudy, who found 3,646 finished-but-vacant single-family homes in the four-county metro area, down from 5,560 at the me time in 2007. The area's total inventory, which includes homes under construction and model units, was down 39 [...]
In the midst of having to deal with her husband's suicide, the widow of Winter Park developer Steve Walsh is now being sued by his investment partners. According to reports, senior members of Broad Street Partners said Thursday that they and other employees of the Winter Park development company were "shocked and saddened" by accusations in a new lawsuit that managing partner Steve Walsh stole at least $21.4 million from investors. Schrimsher Investments Corp. alleges that prior to his [...]
The Palms Club Condos near MetroWest has a one-bedroom condo special: For a limited time, you can buy a 1/1, 709 square foot, condo for just $99,900.00 -- that's more than a 50% reduction on price structures I've seen there in the past. That particular model was once $199,900 and is now being offered at $128,900, however if you make a move quickly then we can probably secure it for just $99,900. And this includes a pool view. The Palms Club is one of my favorite Orlando condos simply because[...]
The future of real estate looks bright - at least technologically speaking - that's what I'm learning at the Inman News Connect conference in San Francisco this week. The gadgets and software that will be coming online in the next few years will make the online home search process ever easier and more efficient making the buyer ever more informed and independent. As you probably know our cell phone will eventually hold the key to everything we do - and the iPhone is just the beginning. New [...]
Orlando Timeshare vs. Condo Ownership - Which is right for you? One of our new pages looks at the differences between Timeshare, fractional and regular condo ownership. The choice can be a difficult choice, especially for foreign buyers struggling to understand the U.S. real estate system. These are two very different real estate options with different legal definitions. The truth is, there are pros and cons to each of these options and which one suits you best will depends on your individual[...]
Tuscany Preserve in Kissimmee has 12 units priced from $139,900 - $294,900. The gated community has all the usual amenities and 4 golf courses and shopping plaza within 1-2 miles. The following great incentives apply: ADDITIONAL $10,000 - $25,000 CASH BACK ON SELECTED MODEL FOR THE FIRST 3 BUYERS. POSITIVE CASH FLOW OF $1,954 - $4,300 PER YEAR WITH 65% FINANCING. BUILDER PAYS RENT GUARANTEE OF 8% OF THE PURCHASE PRICE FOR 2 YEARS. BUILDER PAYS HOME OWNER’S ASSOCIATION FOR[...]
Our recent blog "Where is your Personal Bottom?" looked at how fence-sitters risk losing out on the "waiting-for-precise-bottom" game due to the way the housing market is always three months ahead of where it appears to be at any given time. Let's use some real numbers using data just released from the Orlando Regional Realtor Association (ORRA) to see if this theory pans out. Realtors sold 1,443 homes in June, a 7.1 percent improvement from the 1,347 home sales in the month prior. In fact, [...]
Short Sales: An acceptable exit strategy? Most of you who bought investment condos in 2005-2006 have told me the same gut-wrenching story: You're desperate to sell and wouldn't even mind taking a small loss if that's what it took. At that point, I usually ask you what you paid - and what you are asking - before telling you that you are probably wasting your time - unless you're ready for a skull searing haircut. Condo prices have fallen so much that even taking a small loss won't attract [...]
"I'm not buying yet. I'm waiting on the sidelines for the market to hit rock bottom." You and the rest of the country. I'm not saying you're wrong. But I have two questions for you: 1.) How will you know when rock bottom happens in a complex market where the only perfect vision is hindsight, and the best statistics are at least 3 months old? Real estate isn't tracked in a real time manner such as publicly traded stocks so it is only weeks or months after a deal has been negotiated and closed [...]
Some of you may have noticed a new "widget" on the top right hand side of the blog which displays current Orlando listings. Click on it and it will take you directly to our MLS search engine. And if you have those cool GI Joe eagle eyes that move from side to side you might even have noticed an extra row of tabs above our banner - which correspond to the six new pages we've just launched, designed to help you locate more of the information you need. They are: Timeshare vs. Condos Moving to [...]
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