6:30pm on a Wednesday night: An unlikely start time for an auction perhaps, but over 800 were seated by the time bidding began, and the total number of visitors over the course of the next four hours likely topped 1000 according to our estimates. The REDC auction of central Florida bank owned properties included million dollar mansions and mediocre condos - and some bargains were had with most properties selling for about 40% of their prior estimated worth (and although some of those [...]
With two out-of-state visitors wanting to bid by phone and internet on these beautiful condo hotel suites near Disney World, we attended the World Quest auction on their behalf this weekend. We were not expecting a good turnout based on pre-registration numbers but equally, we weren't expecting to be told as we approached the marquee that the auction had been "postponed" due to lack of sufficient participation! I counted less than 30 people scattered around the vicinity and assumed they were [...]
Tired of seeing condos listed on the MLS with bogus pricing that requires third party approval? Want to buy a condo at a real, guaranteed price? This 1/1, 1200 square foot condo (plus loft) has vaulted ceilings and is in a great community in Metro West, one of Orlando's prettiest neighborhoods. It was purchased for $135 a couple of years ago and as a result of the condo crash it is now available for just $85k (that's $50k off - or a 40% reduction - or just $70 per foot!). This is not an [...]
Absolute Auction 15 Sell Regardless of Price! No Minimums • No Reserves World Quest Resort Orlando will auction 15 luxury condos “absolute†on Saturday, September 6, 2008. The condos are said to be guaranteed to sell regardless of bid price - no minimums, no reserves. Both 2 and 3-bedrooms will be available. All have upscale kitchens and private balconies. It’s a fantastic neighborhood, quiet and secluded - yet just one mile from Disney. You may opt in or out of [...]
According to Jerry Jackson at the Orlando Sentinel, the developer of downtown Orlando's Paramount condo tower testified in court on Wednesday that the company had spent more than $16 million to add extra bracing to the building. The developer went on to claim that this work was not a "material" change requiring notification of individual buyers at the Paramount. The problem was first noticed in late 2007, according to Greg West, senior vice president of Orlando-based Zom Inc., and repairs began[...]
The Palms Club Condos near MetroWest has a one-bedroom condo special: For a limited time, you can buy a 1/1, 709 square foot, condo for just $99,900.00 -- that's more than a 50% reduction on price structures I've seen there in the past. That particular model was once $199,900 and is now being offered at $128,900, however if you make a move quickly then we can probably secure it for just $99,900. And this includes a pool view. The Palms Club is one of my favorite Orlando condos simply because[...]
Tuscany Preserve in Kissimmee has 12 units priced from $139,900 - $294,900. The gated community has all the usual amenities and 4 golf courses and shopping plaza within 1-2 miles. The following great incentives apply: ADDITIONAL $10,000 - $25,000 CASH BACK ON SELECTED MODEL FOR THE FIRST 3 BUYERS. POSITIVE CASH FLOW OF $1,954 - $4,300 PER YEAR WITH 65% FINANCING. BUILDER PAYS RENT GUARANTEE OF 8% OF THE PURCHASE PRICE FOR 2 YEARS. BUILDER PAYS HOME OWNER’S ASSOCIATION FOR[...]
According to the latest Orlando Sentinel Story MetroWest's most luxurious new condo building Veranda Park is having financial troubles. And who isn't? Just another Orlando developer clipped by an anemic economy and housing market which is hurting everyone - except savvy buyers who are beginning to move in and take advantage of great pricing. In April we posted a blog regarding the liens filed against Veranda Park. Now, Wakovia Bank is proceeding with four separate foreclosure lawsuits against[...]
As promised last week, here is news of the latest deals at Reunion Resort in Orlando. Last weekend, Bobby Ginn met with the Reunion sales team and announced several new phases of amenities to come to Reunion along with the immediate expansion of their own multi-acre Water Park. Ginn will also make all Reunion owners / members part of Ginn Clubs, by introducing The One Club which will grant reciprocity to Ginn members so that they can access other Ginn communities. This means if [...]
Sounds like Reunion is getting ready to move the remaining Villas at Reuion Square. These are the condominiums surrounding the waterpark and downtown area that they have been selling at prices ranging from $635,000 to $705,000 with an incentive package. It seems the company is going to eliminate the incentive package and slash the prices on these units instead. It hasn't been announced yet, but we're anticipating an announcement to us Thursday evening. I'm hearing $375,000 for an unfurnished [...]
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