The Sanctuary condo building downtown Orlando will soon be hosting a new restaurant, courtesy of the SK Restaurant group who recently announced its grand opening in the South Eola District. The former Silver Spoon Award winning Fi-Fi’s Patisserie, will transform into the brand new Sanctuary Diner.
The Sanctuary luxury condos, downtown Orlando, developed by resident Steve Kodsi, are among the [...]

The Orlando condo market experienced another improved month in existing sales, but declines continued  in home values, according to this month’s report from the Florida Association of Realtors (FAR).
Condo resales in the Orlando area were up 88 percent, from 91 in January 2008 to 171 last month. The median price, however, fell 60 percent, from $157,000 [...]

There are a lot of volatile cross-currents washing through the financial markets right now.  If we were not sure about things a month ago, we’re hopelessly confused now.  The big stimulus package, a new pile of national debt, a record drop in home prices over the 4th quarter of 2008, CitiGroup, AIG, and the auto [...]

Two of the most upscale condos in downtown Orlando are the Star Tower and The Sanctuary. The Sanctuary slightly older; the Star Tower slightly newer - with its half acre rooftop hosting weekly downtown bashes, began closings more recently.
The developer Steve Kodsi developed both and has made his home in the 5,000 square foot penthouse on the top [...]

Effective March 1, Fannie Mae (FNMA) the folk the make conventional loans “conventional” are planning to further tighten the condo guidelines on which mortgages they will buy on the secondary market. It could be argued that it makes no difference since they are already impossible in most cases, leaving only FHA backed loans as an option.
Additionally, [...]

Long time talk show host and co- author of The Fair Tax Book Neil Boortz said this morning that anyone looking to invest needed to forget about the stock market and look at real estate.  When consulting a want-to-be investor Boortz said.
 ”I am contracted into a large real estate deal this year.  If I had [...]

In a moment of profound unpreparedness, our brand-spanking new Treasury Secretary Tim Geithner spoke on Tuesday about the ‘details’ of the upcoming stimulus package.  After no ‘details’ whatsoever were declared, the stock market expressed their discontent by trashing the Dow Jones Industrial Aver­age by 300+ points.  Ouch-town, population you, Tim.  Maybe it’s best to have [...]

Last August we reported on the $7500 tax credit available to first time home buyers.
Now, the $790 billion stimulus package hammered out by House and Senate conferees late last night will increase the home buyer tax credit to $8,000, from $7,500, and drops the repayment feature for buyers who hold on to their property for [...]

The last few months we’ve been explaining how impossible it is to get a condo loan these days - particularly on bank owned Orlando condos, regardless of credit score, money down – or job.
Well you’ll be pleased to know there are one or two exceptions – but they’re a rare find.
Condos that are FHA approved or Fannie [...]

We posted Miriada condos closeout deal towards the end of last year.
Prices have continued to drop and we can now get you a FOUR-bedroom from $89,900! Financing may also be available, together with some closing cost assistance. Contact us for a tour before the last few go!
Upgraded kitches with stainless steel and granite, wine refrigerator and [...]

For those of you waiting for ‘bottom’ in Orlando – ask yourself this question: how will you know when that day comes? Are you waiting for the media to tell you it’s ok to get back in the water? Or are you studying the market yourself each day, watching the numbers like a data-crazed economist; a [...]

Question: Our board is looking for better ways to communicate to the members by establishing a website. If we decide to distribute the board minutes and other information via a website, is that in itself sufficient? Or, does the board have an obligation to continue to use mail?
Answer: Unless there is a requirement in your [...]

The U.S. Department of Housing and Urban Development (HUD) has backed releasing $91 million for Florida municipalities to deal with the foreclosure crisis.
The U.S. Housing and Economic Recovery Act of 2008 awarded the money to the state Department of Community Affairs to be distributed to 26 local municipalities to stabilize neighborhoods. Grantees have 18 months to obligate [...]

Another Super Bowl has come and gone.  Congrats to the Steelers for winning, and congrats to the Cardinals for putting on such a terrific back-and-forth contest.  Arguably one of the best Super Bowls I’ve seen in recent history.
And at this year’s Super Bowl party, I heard plenty of people talking about the economy and the [...]

Mona Lisa condo hotel just became the latest condo hotel to file for Ch. 11 reorganization after a series of declines in occupancy and rental rates.
Last month World Quest Resort suffered a foreclosure suit as developers struggle to keep their heads above water.
The Mona Lisa condotel is a $70 million, 240-room condo-hotel which opened in early 2008.
Only [...]