Star Tower To Begin Closings

By: Marcus Burke

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.

 star tower condos“The units in the Star Tower are much larger and more luxurious than other units being offered downtown,” Kodsi said. ”With only 100 units in the building, the Star Tower is truly unique,” he added.

Ninety percent of the units at Star Tower Condominium are 1,765 square feet or larger and are complete with high-end custom finishes and upgrades.  Star Tower also features a 3,367 square foot community clubhouse and exercise room, rooftop swimming pool, spa and rooftop garden for residents.

 ”We only have a few one bedroom condominiums left to sell and four of the luxury penthouse condominiums,” said Kodsi. One bedroom condominiums are priced from the $300s, two bedroom condominiums are priced from the low $500s and the 3,600 square foot luxury penthouse condominiums are price at $2 million.  

Share This

¶ Posted 16 October 2007 § Condo Commentary √ Edit ‡ Comments (0)

Out Now: Buying A Second Home

By: Marcus Burke

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 different states. He cautions buyers about the possible pitfalls of renting far-away properties to tenants and why it is important to hire a professional management company to find short- or long-term quality tenants.

bookAbout a third of the book is devoted to the financial aspects of owning a second home. The author explains why mortgages can be difficult to obtain on a second home and why lenders usually charge higher interest rates on these higher-risk loans.

Much of the book is devoted to classic “how to buy a home” details, such as using a buyer’s agent to shop for a home, avoiding mortgage junk fees, and anticipating home-ownership costs for repairs - especially if the property will be rented to tenants. He expounds the benefits of working with realty agents, mortgage brokers, home inspectors, and real estate attorneys, rather than being a do-it-yourself buyer.

The chapter about “buying straight from the seller” is interesting because it warns of the pitfalls of dealing direct with a seller and he recommends using a buyer’s agent to negotiate with sellers.

“Buying a Second Home,” by Craig Venezia (Nolo Press, Berkeley, Calif.), 2007, $24.99.

Share This

Post a Comment

Your email is never published nor shared. Required fields are marked *

*

*


« Orlando Condo Hotels
Out Now: Buying A Second Home »