The Orlando Condo Blog

“You put down 20% and get a 30-year fixed-rate mortgage at today’s rate of 5.5%. Monthly principal and interest come to $994.31. Let’s say that 12 months from now the same house goes for 10% less, or $197,010. But by then the recession is history and the Fed is jacking up rates to stem inflation. [...]

The buyers might have liked them a little cheaper. The developers might have liked a little more money. But in the end, nothing spectacular happened at the Solaire condo auction. And an hour and a half after it began, it was all over. About 150 folk showed up in the end - and although 42 condos were originally offered, [...]