A National Association of Home Builders quarterly index that measures builder and developer confidence in the condo market dropped 11 points in the final quarter of 2007 compared to the same quarter in the previous year. The Multifamily Condo Market Index, based on a survey of builders, stood at 18.8 in the fourth quarter on a scale of zero to 100. A score below 50 indicates more negative responses than positive responses. Sounds bad right? It is - if you're a builder. But if you're in the [...]
Palm Harbor, in case you're wondering, is on the Gulf side of FL near Tampa (West Coast.) This condo conversion looks like a great leaseback deal for investors / overseas buyers... i.e. when you purchase here, they will guarantee full rent for at least two years regardless of occupancy, plus pay 2 yrs of taxes and maintenance (HOA) fees. For more information on Madison Oaks, contact us on 407-901-5161.
"You put down 20% and get a 30-year fixed-rate mortgage at today's rate of 5.5%. Monthly principal and interest come to $994.31. Let's say that 12 months from now the same house goes for 10% less, or $197,010. But by then the recession is history and the Fed is jacking up rates to stem inflation. If mortgage costs rise just half a point, to 6%, your monthly payment would be $994.94 and you'd have saved nothing. Meanwhile, some prices might steady and sellers might become less willing to [...]
The buyers might have liked them a little cheaper. The developers might have liked a little more money. But in the end, nothing spectacular happened at the Solaire condo auction. And an hour and a half after it began, it was all over. About 150 folk showed up in the end - and although 42 condos were originally offered, only about 30 bidders were eventually successful. The Orlando Sentinel reports that the low price paid and the way the property was sold "may cause sleepless nights for [...]
You probably know this already, but you can pay a decent premium when buying downtown if you want a view of Lake Eola - rather than the I4 freeway. But standing between the 35-story Vue condo tower and its views of the lake and park could be a 42-story tower that will leave residents of the Vue looking at a wall of concrete. Bummer. According to folk in the know at the Sentinel, that scenario is behind a brewing development war that could go down among the city's most bitter. Highwoods [...]
Most Expensive Condo: Listed for: $222,000 Sold for: $184,664 (days on market: 76) Least Expensive Condo: Listed for: $98,000 Sold for: $92,000 (days on market: 80) Median sales price: $120,000 Average days market =Â 124 Total Condo Listings = 81 Total Sold = 3 Source: Orlando Regional Realtor Association
Tradewinds Condo Auction 100 Will Sell Absolute! No Minimums! No Reserves! Saturday, March 29 2008 at 11:00AM The owners of Tradewinds condos in MetroWest Orlando, have decided to take their chances at auction, after a series of no-go, low-ball offers from investors, There are still over 200 condos at Tradewinds, and the first 100 will be sold "absolute" (regardless of price). The remainder may be added depending on the outcome of the first 100. There are 1 & 2 bedrooms available with [...]
Solaire Practice Auction For those who register, there will be a practice auction on February 29th at the Embassy Suites Hotel in downtown Orlando. The Solaire practice auction will demonstrate the auction process and help you become more comfortable for the March 1st event. The practice is also a great time to ask the auctioneer any questions you may have about the auction process. For more info on the Solaire auction see our previous postings. You can use this form to begin [...]
We were downtown Orlando at the Solaire condos again this weekend registering buyers and touring for the upcoming auction on March 1st. One of the units that's not included in the auction (you wish) that we had to share with you is the 2-story penthouse on floors 29 & 30. Reasonably listed at $995k, the professionally staged (Home Staging Design Pros) condo features 2323 square foot of premium space with floor to ceiling glass and unparalleled views of the city. On the other side of the [...]
With the condition of the real estate market throughout the country and the rate of foreclosures constantly rising, it is imperative that prospective buyers and sellers keep their eyes open for real estate fraud. There are three types of major fraud for which to be on the look-out. One such type of fraud is home equity/identity fraud. A forged deed is recorded to give the appearance that the perpetrator has acquired ownership of the property. The perpetrator uses the equity in the [...]
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