Most Expensive Condo: Listed for: $235,000 Sold for: $205,000 (days on market: 306) Least Expensive Condo: Listed for: $80,000 Sold for: $64,000 (days on market: 25) Median sales price: $122,000 Average days market =Â 89 Source: Orlando Sentinel
One of the advantages to using a specialist Realtor is that they will help you to make the right decisions and help keep you out of trouble. Like making sure you order a home inspection. For reasons I don't understand, buyers often forget to, or don't want to, order one. Sometimes, the $200-500 that it costs seems like just one more unnecessary expense. But is it really when you're about to invest $200k in a home? Here's the thing. Home inspectors are paid to find problems.[...]
According to the National Association of Realtors, as many as 40 percent of current home sales are second homes. That includes houses and condominiums purchased as investment rentals, for short-term getaways and for future retirement use. Buying a Second Home begins by asking the reader: "What is your main reason for buying a second home?" It then explains the seven steps for a successful second-home purchase. The author explains the details of finding and financing second homes, usually in [...]
Star Tower condos on Jackson and Osceola Streets in downtown Orlando report they have completed construction of over half of the units and have begun closings. They expect to complete closings on half of the 100 condominiums by the end of the year. Albert Kodsi, president of Royal Palm, said most buyers who reserved units at Star Tower want to complete their transactions soon and are anxious to move in. Ninety percent of the units at Star Tower Condominium are 1,765 square feet or larger and [...]
Every so often, I feel blessed. Like last month, when they came out with that new pill on TV where you can "Eat as much as you like and still loose weight!" (and they couldn't say it if it wasn't true). Ok, so maybe I wasn't so lucky with that one since during the great "Prove-them-wrong-eat-athon" of October '07, I actually gained ten pounds. However, I did feel truly blessed, when it became clear to me that one of the newest crazes in the Orlando condo market was about to incorporate my [...]
Most Expensive Condo: Listed for: $770,000 Sold for: $610,000 (days on market: 288) Least Expensive Condo: Listed for: $179,900 Sold for: $160,000 (days on market: 134)Â Median sales price: $263,000 Average days market =Â 171Â Â Â Â Â Â Source: Orlando Sentinel
Capri condos in Hunter's Creek are selling their final few units and heavily reduced prices. In fact the developer claims that "No reasonable offer refused" Now that's what I call a Buyer's Market! Capri was one of our first Featured Condos on CondoMetropolis.com and it's a very good community. As we reported last month, a handful of the condos were not closed on by investors who had overstretched themselves and were subsequently returned to the developer. Hunter's Creek is a great [...]
NEWS FLASH: For those of you who missed the last Orlando auction, there may be a second chance sooner than you think. Like THIS weekend. This Orlando auction promises to be an even bigger event and a very different animal. Whereas the last auction was just condos from just two different developments in one neighborhood, this one, scheduled for October 6th in the Universal area will auction over 100 properties - some out of state. Properties worth over $2 million will be up for grabs in an [...]
Like all the current downtown Orlando condo projects, Tradition Towers has been in trouble for a while now. In fact, rising construction costs and low demand have caused over two thirds of the downtown condo projects to be either put on "developer hold" or scrapped altogether. In mid-August, Condo Metropolis talked about the Monarch condo hotel's plans for restructuring, now the Orlando Sentinel reports that Tradition Towers is also drawing up plans for a lifesaving rethink. That rethink [...]
There's a new Disney rollercoaster called The Volatile Real Estate Market ride (you have to be at least "this desperate" to ride), but I've been on it - and only half the ride is working. Sellers are selling, but why aren't buyers buying when it's so clearly a ‘buyers' market in Orlando? The reason is, everybody wants to wait until we reach a new feeding frenzy and everyone has to pay twice as much for half the size. Yet, right now you can pick up some amazing [...]
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