Comments on: Orlando Condos Auction! http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/ Condo News From A Swivel Chair... Tue, 09 Mar 2010 13:30:06 +0000 http://wordpress.org/?v=2.9 hourly 1 By: Tom http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1469 Tom Sat, 13 Oct 2007 20:13:47 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1469 Hey I had gone to loo at these befroe the auction and I wondered what were the final units and sales prices were individually. I had looked at both properties as possible rental investment. The main problem I saw with the investment was the HOA fees and taxes. At the village or the bend. You started off with $400 to $600 then you add on your mortgage payment. So if you were lucky enough to get a place with a 700 or 800 payment you had to to add 500 on a average to your payment. Well that would be as high as 1400 a month for a 1/1. Well with the current market and it still projected to go down another 20-40%. I f one is smart about shopping there are hundreds of 3/2's homes out there in nice neighborhoods at auction right now that you can pick up in the 125k to 200k range. According to national builders and banks this market will only get worse and we are not showing recovery for years. So please let me know waht the individual selling numbers wer and for those of you buying. Patience and diligence will save you 50k to 100k easily. Final example of this. It was one of the national channels. A home sold at 595k and the builders are now selling the same properties for as low as 435k. This also applies to their less expensive properties. 395k now selling for about 225k. Good luck Hey I had gone to loo at these befroe the auction and I wondered what were the final units and sales prices were individually. I had looked at both properties as possible rental investment. The main problem I saw with the investment was the HOA fees and taxes. At the village or the bend. You started off with $400 to $600 then you add on your mortgage payment. So if you were lucky enough to get a place with a 700 or 800 payment you had to to add 500 on a average to your payment. Well that would be as high as 1400 a month for a 1/1. Well with the current market and it still projected to go down another 20-40%. I f one is smart about shopping there are hundreds of 3/2’s homes out there in nice neighborhoods at auction right now that you can pick up in the 125k to 200k range. According to national builders and banks this market will only get worse and we are not showing recovery for years. So please let me know waht the individual selling numbers wer and for those of you buying. Patience and diligence will save you 50k to 100k easily. Final example of this. It was one of the national channels. A home sold at 595k and the builders are now selling the same properties for as low as 435k. This also applies to their less expensive properties. 395k now selling for about 225k. Good luck

]]> By: Condo Auction Sells over 40 Condos in Lake Mary at The Condo Metropolis Blog http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1444 Condo Auction Sells over 40 Condos in Lake Mary at The Condo Metropolis Blog Mon, 17 Sep 2007 19:19:36 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1444 [...] day was finally here. After weeks of buzz and excitement around our most popular story to date, the Orlando real estate market was getting ready to make headlines about buying and [...] [...] day was finally here. After weeks of buzz and excitement around our most popular story to date, the Orlando real estate market was getting ready to make headlines about buying and [...]

]]> By: Jim http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1441 Jim Sun, 16 Sep 2007 02:37:20 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1441 I saw the apartments today and absolute ones are really bad no carpet,no drywall and many more,beware of these condos.But some of them were renovated and they were good but not a lot available.3/2 should go around 110K and hence forth. I saw the apartments today and absolute ones are really bad no carpet,no drywall and many more,beware of these condos.But some of them were renovated and they were good but not a lot available.3/2 should go around 110K and hence forth.

]]> By: M.B. http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1433 M.B. Fri, 07 Sep 2007 23:12:30 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1433 Les, they don't generally sell for "big" money (depending what you mean by that) but they are an affordable first time home choice and also good for investment (and rental) if you can pick one up at a good price. This auction might be one such place to find a deal. If you can make one cashflow, then why not? One was built in '85, the other a few years later. Les, they don’t generally sell for “big” money (depending what you mean by that) but they are an affordable first time home choice and also good for investment (and rental) if you can pick one up at a good price. This auction might be one such place to find a deal. If you can make one cashflow, then why not? One was built in ‘85, the other a few years later.

]]> By: Andrew http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1432 Andrew Fri, 07 Sep 2007 22:00:58 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1432 Built 1985. Went by there today and they don't look bad, but they are obviously former apartments. Maybe 90k as a floor for the smallest ones.. we shall see Built 1985. Went by there today and they don’t look bad, but they are obviously former apartments. Maybe 90k as a floor for the smallest ones.. we shall see

]]> By: Les http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1430 Les Thu, 06 Sep 2007 18:47:20 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1430 These condo's are refurbished rentals. Do they really still sell for big money & if so why? I would have thought ex-rentals would not be in such demand. Does anyone know when they were originally built? These condo’s are refurbished rentals. Do they really still sell for big money & if so why? I would have thought ex-rentals would not be in such demand. Does anyone know when they were originally built?

]]> By: M.B. http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1426 M.B. Wed, 05 Sep 2007 03:20:44 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1426 Thanks for the info. I guess it depends how many folk show up. I'm hoping there will be slow demand for some of the 1/1 units and that they will go for for under $100/SF. You never know with an auction. Sometimes there is little demand and great deals, other times a ton of people come and it's not worth it. Thanks for the info. I guess it depends how many folk show up. I’m hoping there will be slow demand for some of the 1/1 units and that they will go for for under $100/SF. You never know with an auction. Sometimes there is little demand and great deals, other times a ton of people come and it’s not worth it.

]]> By: Andrew http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1425 Andrew Wed, 05 Sep 2007 03:10:44 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1425 I haven't seen the units and all I'm going on is the recent online price estimates and transaction amts, deducting a conservative amt of value due to the recent slow-down in sales and a lot of inventory coming on the market at once. Just a guess- I'd say 100-110k for the 732sf 1/1s, 130-150 for 930sf.. etc.. about $150/sf. I would be very surprised if any went for less than $135/sf, which is right about 100k for a 1/1. I haven’t seen the units and all I’m going on is the recent online price estimates and transaction amts, deducting a conservative amt of value due to the recent slow-down in sales and a lot of inventory coming on the market at once.

Just a guess- I’d say 100-110k for the 732sf 1/1s, 130-150 for 930sf.. etc.. about $150/sf. I would be very surprised if any went for less than $135/sf, which is right about 100k for a 1/1.

]]> By: M.B. http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1424 M.B. Tue, 04 Sep 2007 23:46:06 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1424 Interesting figures Andrew. Question is, what's it worth in an auction?? What should the top price be? Interesting figures Andrew. Question is, what’s it worth in an auction?? What should the top price be?

]]> By: Andrew http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1423 Andrew Tue, 04 Sep 2007 21:36:13 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1423 Looking on zillow.com, 226 Riverbend Dr #103 which is a 729sf went for $115k on 7/24/07, so the prices seem to be holding. Zillow estimates it at $125k today, and this is the lowest priced one that I could find. Looking on zillow.com, 226 Riverbend Dr #103 which is a 729sf went for $115k on 7/24/07, so the prices seem to be holding. Zillow estimates it at $125k today, and this is the lowest priced one that I could find.

]]> By: Andrew http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1422 Andrew Tue, 04 Sep 2007 21:24:37 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1422 Let's see.. the starting price is "from the 120s" according to WekivaBend.com.. granted, they probably haven't sold many recently at that price, but what do you think they'll fall to at auction? Even with a 25% loss in value, that still places them at 100k for a 1/1. I haven't seen these places, but I bet they're worth a $600 mortgage payment to someone who wants to try landlording. Let’s see.. the starting price is “from the 120s” according to WekivaBend.com.. granted, they probably haven’t sold many recently at that price, but what do you think they’ll fall to at auction? Even with a 25% loss in value, that still places them at 100k for a 1/1.

I haven’t seen these places, but I bet they’re worth a $600 mortgage payment to someone who wants to try landlording.

]]> By: M.B. http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1419 M.B. Sat, 01 Sep 2007 15:24:59 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1419 What do you think the 3/2's will go for? What do you think the 3/2’s will go for?

]]> By: Andrew http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1418 Andrew Sat, 01 Sep 2007 14:46:39 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1418 These will not sell for 30k, they will start at 30k and end in the low 6 figures for 1/1s These will not sell for 30k, they will start at 30k and end in the low 6 figures for 1/1s

]]> By: Altamonte Condo Auction Not Alone at The Condo Metropolis Blog http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1416 Altamonte Condo Auction Not Alone at The Condo Metropolis Blog Fri, 31 Aug 2007 11:39:56 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1416 [...] Altamonte Springs condo auction (Sept 16) seems to be causing a flury of interest and could well turn out to be the most exciting [...] [...] Altamonte Springs condo auction (Sept 16) seems to be causing a flury of interest and could well turn out to be the most exciting [...]

]]> By: Roofable » Blog Archive » Condo Auctions in the Orlando Area http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1413 Roofable » Blog Archive » Condo Auctions in the Orlando Area Thu, 30 Aug 2007 12:31:19 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1413 [...] couple of properties are having multiple-unit auctions. Both of the following were found via Condo Metropolis, contact Marcus for more [...] [...] couple of properties are having multiple-unit auctions. Both of the following were found via Condo Metropolis, contact Marcus for more [...]

]]> By: Ana http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1411 Ana Wed, 29 Aug 2007 12:06:38 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1411 I want to be part of becoming an owner of the $30,000 apartment. I just cannot go because I am in Miami and I work for the school system, Can you help me? Ph. (305)244-2247. I want to be part of becoming an owner of the $30,000 apartment. I just cannot go because I am in Miami and I work for the school system, Can you help me? Ph. (305)244-2247.

]]> By: M.B. http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/comment-page-1/#comment-1397 M.B. Mon, 20 Aug 2007 15:24:18 +0000 http://www.condometropolis.com/blog/2007/08/20/orlando-condos-go-to-auction/#comment-1397 From: Michael Freedberg -- The "Mass Mouth" There'll be more of this. It happened in the late 1980s and it is happening again. This is how "market bottoms" are established. Let's see more news like this blog. 08/20/07 11:01:22AM EDT From: Michael Freedberg — The “Mass Mouth”

There’ll be more of this. It happened in the late 1980s and it is happening again. This is how “market bottoms” are established. Let’s see more news like this blog.
08/20/07 11:01:22AM EDT

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