Comments on: Orlando’s Buyer Market: Game Over?

By: Adam Van Breems

Adam Van Breems — Thu, 10 Jan 2008 23:34:50 +0000

I read your November article, and yes I would concur. Condo market, not so good. As a resident of one of these belly up properties I can tell you the results are horrid for an owner. All of the riff raff have now moved in due to desperate property management trying to save their skins by renting to the least common denominator. Crime is through the shoddy tin roof, and the carrots dangled for incentives have all dried up at the Oasis. There are no security guards to help keep the grounds secure, the gates to the community remain rusted open. The grounds themselves have declined into disrepair, littered and weedy. I actually came home to an evicted renters property strewn at the front gate of the property. The newly repaved parking lot that is advertised…a joke, they repaved just in front of the sales office and models. Not to mention, now that they have only sold less than 50% there is no HOA run by the homeowners. Thus we who have paid for the property and pay our dues have no representation here. We are at the mercy of the developer and their evil henchmen property managers.

I WANT OUT!

I’m sorry to hear that Adam – unfortunately your story is being replicated all over Orlando – maybe even the rest of the country. Exactly the same thing has happened where I live and I think it will take a couple of years for this mess to shake out and for things to get back to ‘normal’. Evictions are happening left and right and standards are so incredibly low right now in terms of renters. I’m not sure it’s fair to blame the property managers, the developers or anyone else – we’re all to blame as a nation for thinking we could cash in – and for carrying such incredible amounts of debt. Sub-prime ‘liar’ loans are only part of the cause. And I hate to be a bear, but I think there’s worse to come. Look out for more cries that we’re in a recession. Because we are.
Marcus.

By: Our Top 10 Condo Blogs of 2007 at The Condo Metropolis Blog

Our Top 10 Condo Blogs of 2007 at The Condo Metropolis Blog — Fri, 21 Dec 2007 18:50:50 +0000

[...] 5.) Orlando’s Buyer Market: The Beginning Of The End? [...]

By: Hojin Chang

Hojin Chang — Tue, 27 Nov 2007 21:16:23 +0000

Just wondering where you got the news that Rialto is going to be apartments instead of condos. I tried calling the sales office but did not get an answer.

Precisely, get the hint!? lol The sales team have long since departed.

By: Intermezzo at Rialto to Be Apartments Instead of Condos

Intermezzo at Rialto to Be Apartments Instead of Condos — Tue, 27 Nov 2007 21:05:10 +0000

[...] condos and are replacing them with apartments. On November 5, Marcus Burke wrote in a post entitled Orlando’s Buyer Market: Game Over that ” in the Dr. Phillps area, the developers much hyped Intermezzo at Rialto shut down the [...]

By: Florida to see drop in condo starts at The Condo Metropolis Blog

Florida to see drop in condo starts at The Condo Metropolis Blog — Thu, 15 Nov 2007 11:08:49 +0000

[...] A shrinking number of condo starts combined with the total failure of other projects, plus the return of many conversions back to rentals, means that condo inventory is on the [...]

By: Eric

Eric — Thu, 15 Nov 2007 02:22:07 +0000

Mr. Burke, if you think the condo bust is about to end, might I interest you in some nice swamp land in the Everglades?

Ha! Eric, I’ll take that swamp! Our globe isn’t getting any smaller and for some reason we are unable to stop breeding. In Florida, if you can drain it – you can build on it, so I’ll take that swampland. And I’ll build a 55+ community on it. Because baby boomers are about to land on Florida’s doorstep in droves and before you know it, we’ll have more colostomy bags than condos!