The Orlando Condo Blog

News just out from HUD: Bridge loans received the go-ahead that enable first-time buyers to use the benefits of the federal tax credit upfront (instead of having to wait for the tax write-off). Under the guidance, FHA approved lenders can develop bridge loans that home buyers can use to help cover their closing costs, buy down [...]

We first posted the opening of the Sanctuary Diner in March 2009 as it re-emerged from its prior life as French-themed Fifi’s. Unfortunately, the Diner didn’t make it. Nor did Graze, it’s upscale neighbor. According to the Orlando Business Journal, both restaurants under the Sanctuary condo building simultaneiously closed their doors on May 26th. Both restaurants were owned [...]

Bella Piazza Goes Hardcore One of the indicators of a change in the market will be the instant hardening of sellers (in particular developers) towards buyers with the loss of incentives and a refusal to budge on price. At the Bella Piazza condos in Davenport, we’re starting to see some of this now. This community still [...]

Realty Times now describes Orlando as a Hot Market. More surprisingly, they think the market has shifted from a “buyer’s market” to a “normal market”: “The market is currently in normal absorption rate at about a 7-month supply with more than 12,000 homes on the market. ” While we’ve already written on how the under $50K [...]

Question: The topic of solicitation is often raised at our board meetings. Our entrance is posted with signs that prohibit both solicitation and trespassing. However, we frequently have people wandering through the community leaving coupons and flyers on the doors. This prompts owner complaints why this is “allowed”. The greatest concern is security because many [...]

Despite a sputtering but solid rally in the stock markets, we’ve enjoyed some surprisingly low interest rates in the mortgage market.  Usually, when stocks are on the way up, investors will cash out their bonds and buy in.  Since mortgage interest rates are dictated by the investment community’s appetite for bonds, what is good for [...]

Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corporation (Freddie Mac) purchase most of the residential mortgage loans lenders make and set the standards those loans must meet. New rules were enacted in 2007 that require lenders to verify every condominium loan made that the HOA contributes at least 10% of its [...]

Just Out: 2 bed, 2 bath, 2nd floor condo in MetroWest with 9″ ceilings – great community! Bank owned deal – will go to a cash buyer with a quick closing – multiple offer scenario is likely. HOA fees $283/month, include water, sewage, trash removal. Community has all the usual amenities including pool and clubhouse. Call [...]

Miriada Condos, Orlando: Hardwood floors, stainless steel appliances, upgraded bathrooms, ceiling fans and convenient for the airport - this condo has FOUR bedrooms, 2 bathrooms, is a 1st floor and end unit, Seperate living/dining rooms, master bath has shower/tub combo, open parking, community pool and tennis courts. All for under $68,000?! You want low HOA fees? Try $287; you want [...]

Nearly seven times more homes in the lower-price ranges sold last month than in the upper ranges. This is typical of a rebounding market according to real estate economists. “Orlando’s housing market appears to be following a recognized healing pattern – from the bottom up – as evidenced by the greater number of sales in the lower-price [...]