Ignore the stats that were announced on the news today. National averaged statistics aren’t very relevant after all, unless you’re planning on buying up the entire country. Real estate is strictly a local business. So if you’re planning on buying in Orlando, then it’s Orlando data that really matters. And if it’s an Orlando condo you’re after, then Orlando condo [...]

Readers have submitted quite a few questions in the last few weeks regarding insurance for condominium property and responsibility for repair of damages.  Section 718.111(11), Florida Statutes, requires every condominium association to maintain insurance coverage for:

All portions of the condominium property as originally constructed (including replacements of like kind); and
All alterations or additions to the common elements or association [...]

Orlando Condo Investors:  Get ready to rev up your business volume.

Starting February first, the department of Housing and Urban Development (HUD) is waiving its 90-day “anti-flipping” rule for FHA financing.
Investors who buy and fix up foreclosed and bank-owned properties now will no longer have to wait for 90 days before looking for FHA buyers. Under the prior policy, [...]

Anyone remember that crazy time toward the end of 2008 when all of our portfolios fell apart?  Through a clever combination of whiskey and denial, most of us have managed to effectively neutral­ize any memory of the actual happenings of the crash.  All we know is that we landed somewhere un­pleasant and the banks are [...]

Question: Our members approved a Rental Restriction Policy at the most recent annual meeting which grandfathered existing rentals. Should this policy be put in the recorded bylaws? If a unit is occupied by an owner’s relative, is the unit classified as a rental or as owner occupied?

CommunityWalk Map – Downtown Orlando Condos
Click the link in the green bar above to see the map in greater detail!
We’ve been working on way for you to conceptualize the downtown Orlando condo & luxury loft scene in conjunction with our new downtown website, and we hope this new map helps. We’re currently still testing the site and there are [...]

The Orlando Business Journal reports that a new state law could make life easier for investors looking to make bulk condo buys. According to current law, buyers who own more than seven condos can find themselves jointly liable when lawsuits are filed against the developer or builder.
Understandably, this is offputting to investor syndicates looking to pick [...]

Say it ain’t so… but after what seems like eons of having to tell our clients that there are virtually “no loans on condos,” the situation may be about to change.
As reported in the Orlando Sentinel mortgage backer Fannie Mae is finally making it easier for people to buy Florida condos that may not have [...]

The Vue at Lake Eola condo tower is scheduled to be sold via commercial auction on March 15 2010.
According to the Orlando Business Journal, the 375-unit Vue condo downtown Orlando condominium at 150 E. Robinson St., had its involuntary Chapter 7 bankruptcy liquidation converted to a Chapter 11 reorganization and is seeking qualified bidders to acquire the 165 unsold units and [...]

Optimism abounded this week as everyone held their breath and waited for Friday’s jobs report num­bers to come out.  The universal hope was that we would see job growth in December of 2009, which would be the 1st growth we’ve experienced in 2 years.
Did we?  Could we?  Hope and change?
Nah.  85,000 more jobs fell off [...]

Don’t forget the Home buyer’s tax credit has been extended until April 2010.
A ”tax credit” is a dollar for dollar reduction in your taxes which puts real money right back in your pocket - and if you qualify you could save up to $8,000!
To qualify you must meet certain requirements and must close on your new home before [...]

If we’ve been able to help you – here’s how you can share the love ! 
The Dr. Phillips-Metrowest Chamber of Commerce
Invites You to Nominate Candidates For The
Prestige Business Awards 2009

The purpose of this award is to recognize outstanding LOCAL BUSINESSES & Individuals providing Outstanding Service.
Deadline: January 15, 2010
Rules for Voting and Nominations: One vote [...]

 
Just a quickie to thank you all for your support in 2009!
Our condo blog is being read by would-be condo buyers from all over the world and our clients in 2009 came from as far away as Indonesia and Iceland.
We hope you enjoyed working with us as much as we enjoyed working with you.
So many [...]