The U.S. Real Estate market is changing in dynamic ways. And I'm not talking about the messy mortgage melt-down. Every minute, six people turn 60 years old in America, and the graying of the population will change the housing market in many dynamic ways. 78 Million sunshine-seeking Boomers will retire in 15 years or less. Guess where they're headed? And you're worried about the future value of Florida real estate?! In his new book Besting (better nesting instead of empty nesting) Bob Waun [...]
Take a gander below at the condo projects that have gone south in the last month or so. It's depressing. Or is it? What else does it signal? (other than an increase in the sales of Head On: Apply Directly To The Forehead). I'm going to stick my neck out here and suggest that this "correction" might just signal the beginning of the end of the condo buyer's market in Orlando. Because the combined value of these monthly flops is many thousands of condos that will [...]
Regency Park condos in Lake Mary will host a condo closeout sale this weekend with 1 bed, 1 bath condos on offer from $99,990! A 2/2 will cost you about $128 and a 3/2 about $169. Registrants will enter to win a free 32" LCD TV. Only 20 condos remain so if you'd like to register and take a tour on either Saturday or Sunday, contact us here ASAP at Condo Metropolis (407) 901-5161. You will probably only need $1500 down as a deposit. This is not an auction and this is solid closeout pricing!
I wrote most of this blog post before I realized that Marcus just wrote a post about making sure that the price is right. I apologize for bringing the topic back up so soon, but proper pricing is crucial right now. The real estate market is pretty sick at the moment: Buyers are scared and apprehensive to jump into the pool. They don't want to buy something today and have it be worth less 12 months from now. Who can blame them? Most of them are waiting for bottom. Many sellers [...]
Nothing to do with Condos. Nothing to do with Orlando. Nothing to do with real estate. But it might make Monday less painful!
Amidst a week of meager economic data, mortgage bonds prices (the driving force behind mortgage interest rates) will be dictated mostly be performance of the stock market. When stocks rally, investors pull money out of bonds, worsening mortgage rates. When stocks fall, bonds are bought and mortgage rates benefit (which means lower rates for consumers). For example, today's poor earnings reports for many majorly traded companies are benefitting mortgage rates. Murmurs of another rate cut are [...]
Most days, we get frantic calls from investors asking "Please sell my condo!?" I usually have to tell them "No" without even asking what or where it is. Because unless they're willing to price it according to what they can actually get, as opposed to what they think they deserve to get, then we're all wasting our time. Sound harsh? According to the Orlando Sentinel's figures, from July 27th to August 27th, 538 condos were listed in the MetroWest and Dr. Philips / Windemere areas [...]
1.) Â Selection, selection, selection. Regardless of the price range a buyer desires, there are plenty of homes from which to choose. Just a few years ago the resale inventory dropped so low that a buyer was forced to make compromises if they were going to locate to the home of their dreams. There is a great selection of attached homes, condos, and townhouses. You can find large lots, small lots, and a lot that will accommodate your boat or RV. There are lots of options in this market. 2.) No[...]
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