http://www.condometropolis.com/blog/2008/09/08/world-quest-condo-hotel-auction-a-bust/ Condo News From A Swivel Chair... Tue, 09 Mar 2010 13:30:06 +0000 http://wordpress.org/?v=2.9 hourly 1 http://www.condometropolis.com/blog/2008/09/08/world-quest-condo-hotel-auction-a-bust/comment-page-1/#comment-2569 WorldQuest Condo Hotel Resort: Foreclosure Suit | The Orlando Condo Blog Sat, 10 Jan 2009 15:45:54 +0000 http://www.condometropolis.com/blog/?p=376#comment-2569 [...] their failed auction last year, the owners have struggled with sales - as have most of the area’s condo hotels. [...] [...] their failed auction last year, the owners have struggled with sales - as have most of the area’s condo hotels. [...]

]]> http://www.condometropolis.com/blog/2008/09/08/world-quest-condo-hotel-auction-a-bust/comment-page-1/#comment-2432 Craigg Tue, 09 Sep 2008 21:17:02 +0000 http://www.condometropolis.com/blog/?p=376#comment-2432 LMAO, I can't say I'm surprised. The monthly condo fees are $561/month & since it's a condo-hotel, the owner can't even live there full time and there is no guarantee that your unit will be rented 100% of the time to generate income when you're not there. This place needs to list their units with the upcoming REDC auction where starting bids on condos are $1,000 & they might be able to sell a few units. I still remember the REIT auctions here in Orlando in the early '90's where nice condos were sold for $40K. With Orlando's huge population of low-wage service/hospitality industry workers earning less $30K/year, we'll start seeing nice (not foreclosed/short sale) 2/2 condos & townhomes selling in the $80K range before the real estate market rebounds. That being said, I predict Orlando condo pricing to fall another 50% from today's prices by/before 2010. Yeah, tough news for sellers and their agents to heard. But it's coming, just wait. LMAO, I can’t say I’m surprised. The monthly condo fees are $561/month & since it’s a condo-hotel, the owner can’t even live there full time and there is no guarantee that your unit will be rented 100% of the time to generate income when you’re not there. This place needs to list their units with the upcoming REDC auction where starting bids on condos are $1,000 & they might be able to sell a few units. I still remember the REIT auctions here in Orlando in the early ’90’s where nice condos were sold for $40K. With Orlando’s huge population of low-wage service/hospitality industry workers earning less $30K/year, we’ll start seeing nice (not foreclosed/short sale) 2/2 condos & townhomes selling in the $80K range before the real estate market rebounds. That being said, I predict Orlando condo pricing to fall another 50% from today’s prices by/before 2010. Yeah, tough news for sellers and their agents to heard. But it’s coming, just wait.

]]>