The Orlando Condo Blog

The Cons of Cutting Rates:
Dollar’s declining value (if the Fed makes it easier to lend, more money will move in to circulation. A higher money supply decreases the overall value, making imports more expensive and consequently causing inflation.)
High Gross Domestic Product (3rd quarter GDP came in today at 3.9%, a hot measure. If we get [...]

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 [...]

Most Expensive Condo:

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). [...]

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 [...]

1.)  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 [...]

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 = 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 [...]

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?” [...]

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 [...]

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 [...]

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) 
Median sales price: $263,000
Average days market = 171      
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 [...]