We've known about the problems at the Lexington condo hotel (downtown Orlando) for a some time now, and I recommended to one potential client that he give his particular condo hotel project a wide berth. For reasons that I'll never understand, he refused to believe that my adivice was anything other than genuine or based simply on my knowledge of who the lemons were in the market - and he purchased one anyway. His view was that getting his deposit money back in the[...]
If anyone were to say that 2008 started with a bang, they'd probably be referring to the sound of our stock market dropping like an anvil on the 1st. Woo hoo. However, the rationale behind the drop is not what the recessionistas of the world want to hear. Fundamentals backing our economy are strong. The upcoming general slowdown will force inflation back into check. Many ask when the loss of wealth from the housing slump and high gas prices will affect the consumer on an [...]
Over the past 2 ½ years CondoDomain.com has operated as a premier lead generation portal for real estate developers and onsite sales and marketing centers in more than 30 U.S. cities.  But now, our friends up in Boston are about to go local. By the time you read this, they will have opened their first local brokerage. Today sees the company founder, Tony Longo move from macro to micro as he and his team begin to directly serve the customer - rather than the developer. They [...]
A recent report by the Florida Association of Realtors suggests that for the month of November 2007, Orlando saw a 35% decline in sales of single-family homes compared with November 2006, while condo sales plumeted by a massive 55%. Orlando condo sales were a meagre 125, down from 276 sold in November 2006 (already a bad year!). Median condo prices fell 18% from $172 to $140.5 Statewide, sales dropped by 29% with a median sales price of $186,700, a drop of 9% from $204,500 [...]
Home prices fell nationwide for the 10th consecutive month, according to a major index of home prices. Metro Miami home prices dropped 12.4 percent in October 2007 compared with October 2006, while prices in Tampa dropped 11.8 percent compared with the same period a year earlier, according to the Standard & Poor's Case-Shiller Home Price Index.
Seller's expectations are still too high when it comes to price. How do I know? Look at our Zip Code of the Week (below). November to December 2007: 163 Orlando condos listed - 6 sold = 157 unhappy sellers. True, there may be several reasons for the lack of sales - one of which is that buyers can be incredibly slow to catch on, and also the fact that it's harder to get a loan these days - but in most cases, the seller is still hoping, against hope, to get what they [...]
Most Expensive Condo: Listed for: $2.5M Sold for: $2,050,000 (days on market: 136) Least Expensive Condo: Listed for: $136,900 Sold for: $116,303 (days on market: 28) Median sales price: $362,500 Average days market =Â 142 Total Condo Listings = 163 Total Sold = 6 Source: Orlando Regional Realtor Association
We've posted over 250 articles on the Orlando condo scene since we went live just over a year ago, covering every conceivable condo angle from financing to home owners' associations, to the very best deals Orlando has to offer. To celebrate the end of our first year, we've picked the TOP TEN posts that we thought were the funniest, most newsworthy or were the most helpful to our readers. Thanks for leaving your comments! Thanks also to our staff, our blog writers, and [...]
Coming to a neighborhood near you - maybe - is a $625 million 49-story condo project which will sit near Universal and Sandlake on Lakehurst Drive. It is slated to accommodate over, wait for it... 1,188 condos (no, you read that right). Convention space and retail are expected to swallow up another couple of hundred thousand square feet. Planned at 500 feet tall, it would stand sixty feet above the SunTrust building - Orlando's tallest building at present (featured atop of [...]
The Vue condos, downtown Orlando, had it's residents' grand opening last as night, as covered by local TV stations. And those that had closed seemed happy with their purchase. Floors 2-15 are completely sold out and about 50 folk are reported to have taken up residency to date. In fact, the entire project is nearly sold, although the top floors and Penthouses are still being fitted out inside. There are still a few units available so if you'd like a tour contact us. It's not too late to be a[...]
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