Pre-construction. Downpayments. Now why would anyone want to tie up 20% of half a million of their dollars (at zero interest) for a year or two on a property that might never get built, when it could be earning 5% in a CD? That's the question buyers are posing, since that's what most developers are looking for. Even if the property actually increases in value, if it's only by a couple of thousand dollars, then you could still be upside down on the deal. And unless you've got a wad of spare [...]
Most expensive condo: Listed for: $229,900 Sold for: $235,000 (days on market = 144) Least expensive condo: Listed for: $79,000 Sold for: $76,000 (days on market = 70) Median sales price: $108,325 Average days on market = 92 Source: Orlando Sentinel
Click To Play Courtesy of The Speculative Bubble comes this unusual use of the game Rollercoaster Tycoon. What is it? It's U.S. Home prices plotted as a roller coaster. What's cool about it is that it shows the cyclical nature of real estate in a visual way. And it proves the old adage: You don't wait to buy real estate. You buy real estate and wait. Busch Gardens ain't got nothin' on this one. Enjoy.
That's according to the National Association of Real Estate Investment Trusts' annual conference this year. The top investment cities for 2007 also included: New York City; Washington, D.C.; Los Angeles; Seattle; Austin; San Francisco; Honolulu; San Jose; and San Diego. Ron Donohue of Hoyt Advisory Services noted that while the industry remains solid, real estate investment activity in 2006 was slower than 2005. He predicts that the top investments for 2007 will be multifamily rental [...]
Lockheed Martin has announced that it has won a contract from the Canadian armed forces for 36 Sniper Advanced Targeting Pods, making it the seventh international customer for the product. The Orlando contract, extends until 2020 with spares, support equipment and integrated logistics support. The pods are also used by the U.S. Air Force and the Air National Guard. What exactly do they do? Incorporating a high-resolution, mid-wave third-generation FLIR; a dual-mode laser; and a CCD-TV, along [...]
Most community associations have committees. Committees are established as advisors to the Board of Directors on specific areas of interest or concern to the Association. In most cases, the Board of Directors is empowered by the governing documents to create ad-hoc committees, such as Finance or Landscape. The purpose of each committee is to address specific issues of the Association and to provide recommendations to the Board of Directors. Unless permitted otherwise in the governing documents, [...]
The problem with blogs is that you have to keep checking them out to see if there are any new stories. If there aren't any, then you just have to keep checking. But now you can now get automatic updates for the Condo Metropolis Blog. By subscribing to the ''feed'', you'll be able to tell every time a news item is added without having to check the site. You just just check your favorites on Internet Explorer and if our blog is in bold type, then you know it has a new item. Just click on the link[...]
According to an Orlando Sentinel feature today, MetroWest developer Kevin Azzouz has announced that he has hired off-duty Orlando police officers to patrol the community 24 hours a day. Regular police patrols will continue but about $250,000 will be spent on up to six additional officers who will patrol in marked cars. "We have identified five entry points into MetroWest," Azzouz told the Sentinel. "This will allow officers to watch all those points and have an additional officer as a rover."[...]
Good lord! Two days after I accused local developers of not taking advantage of the imminent invasion of wrinklies, the Orlando Business Journal Reports that at least one developer is creating a place for your mom and dad. Avalon park is working with Florida Hospital to create a "health village" in the east Orlando community for active seniors. And with the hospital's input, the retirees will have access to nearby medical facilities they can be shipped to as they pass their sell-by dates. The [...]
Most expensive condo: Listed for: $159,900 Sold for: $159,900 (days on market = 2) Least expensive condo: Listed for: $129,000 Sold for: $125,900(days on market = 34) Median sales price: $140,000 Average days on market = 55 Source: Orlando Sentinel