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orlando condos: Orlando Number 10 For Foreclosures - 11/11/10 04:17 PM
According to the latest Realty Trac report, the Orlando market ranked 10th among the nation's largest metro areas with the highest foreclosure levels.
The Orlando metropolitan statistical area posted a total of over 7,000 foreclosure filings, or one in every 122 households, in October of this year. That represented a 2.4 % decline from October 2009's and a 2.6 % decline from the 7,572 filings reported in September 2010.
Meanwhile, Florida as a whole, was the state with the second-highest foreclosure rate in the nation with one in every 155 homes receiving a foreclosure filing last month, 2.5 times the national average. The Sunshine … (2 comments)
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orlando condos: Looking to get screwed on your next real estate deal? Sign up today! - 07/22/10 03:38 PM
As you might imagine, I take a lot of calls as an Orlando Realtor. I get a few thousand emails a month and a lot of phone calls. Many of those calls and emails end a little like this: "So yeah, I'm looking for an Orlando condo deal - let me know if you come across any good steals, OK? Cuz I'm really serious OK?"
"Absolutely," I say. "No problem."
I hang up and right away, I add them to my Hot-buyer-looking-for-a-good-condo-deal-in-Orlando list because it's vital that I separate them from the alternate list, you know, the I'm-really-looking-to-get-screwed-on-my-next-real-estate-deal-so-if-you-see-anything that's-truly-over-priced-then-I'm your man, list).
So do I ever come across any good … (3 comments)
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orlando condos: Fannie Mae Gives Primary Home Owners A Shot At Foreclosures - 12/05/09 10:20 PM
Fannie Mae's new REO program may finally give primary home owners the break they've been looking for on the foreclosure front.
Until now, 'real' home buyers have been beaten out of most foreclosed home sales by bidding wars that favor investors with cash, a practise which fails to help neighborhoods recover as well as they might.
Starting this month, Fannie Mae homes will now go firstly to home buyers who plan to occupy the units they purchase, and will not be open to investors for the first fifteen days. During that time frame, Fannie will only consider offers from owner-occupant purchasers even if investors … (0 comments)
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orlando condos: Orlando: The Big Bad City... - 05/23/09 03:02 PM
To some, Orlando looks like a city of concrete, condos, smoke and crime. At least it does to those folk that are moving from South Dakota or Wyoming. But for those of us who moved from New York or Chicago or London (or in my case, all of the above) there's something distinctly suburban about Orlando's downtown neighborhoods: Cobbled streets, more trees than a 12-year old could climb in a lifetime, and the sorts of creatures that you'd expect to find, well, in the local zoo.
Case in point: two days ago I was looking at some Orlando real estate with a client, when I … (0 comments)
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orlando condos: Popular Orlando condos - 05/19/09 04:21 PM
At Condo Metropolis we've been working on dedicating a page to each of the major condos in Orlando. Here you'll find photos and floorplans and a quick blurb about each:
Bermuda Dunes, visit our Bermuda Dunes condos page. This condo is in the heart of MetroWest. One of the nicest in this neighborhood. There are foreclosures here and short sales. Prices are rising here already due to the fact that it sits right on MetroWest golf course.
The Vue Orlando, visit our Vue condos page. This downtown Orlando condo has great views of Lake Eola and is just a couple of years old. Upscale … (0 comments)
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orlando condos: Orlando Real Estate Inventory Levels Off - 08/05/08 12:08 PM
Our recent blog “Where is your Personal Bottom?” looked at how fence-sitters risk losing out on the “waiting-for-precise-bottom” game due to the way the housing market is always three months ahead of where it appears to be at any given time.
Let’s use some real numbers using data just released from the Orlando Regional Realtor Association (ORRA) to see if this theory pans out. Realtors sold 1,443 homes in June, a 7.1 percent improvement from the 1,347 home sales in the month prior. In fact, inventory declined for the fourth consecutive month (but is still 5.3 percent below the 1,524 homes … (0 comments)
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orlando condos: Where is your personal bottom? - 07/14/08 11:57 AM
"I'm not buying yet. I'm waiting on the sidelines for the market to hit rock bottom."
You and the rest of the country.
I'm not saying you're wrong. But I have two questions for you:
1.) How will you know when rock bottom happens in a complex market where the only perfect vision is hindsight, and the best statistics are at least 3 months old?
Real estate isn't tracked in a real time manner such as publicly traded stocks so it is only weeks or months after a deal has been negotiated and closed that the analysts can accurately gauge … (0 comments)
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orlando condos: Are You Completely Batty? - 07/03/08 01:04 PM
Today's rant:
If you moved to Africa, would you be really miffed about the mean lions or those awfully aggressive heyeinas - and become indignant about how such dangerous animals shouldn’t be allowed to “just roam around like that”?
I sometimes hear would-be Florida residents ask me when they look at a condo with a nice lake view: “Awseome view… Wait, you don’t suppose there are any alligators in there, do you?!”
Yes, siree - real lakes sometimes have real, live alligators. Dorothy, this is most definitely not Kansas. South Florida is basically a swamp. A very large, drained swamp. And … (2 comments)
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orlando condos: New Construction, Conversion or Pre-Construction? - 08/19/07 02:38 PM
We'd all like new of course - but can you afford it? We all know that new costs more than conversion, right?
Not necessarily. Some developers overpaid for their converions at the height of the condo craze and are now having to sell them at rates which are actually higher than new construction.
On the other hand, owners of older resale condos usually have greater predictability of maintenance expenses and monthly fees because the construction defects of new units have been repaired. Defects? Ahh.. yes.. and plenty of them.
Buyers of brand-new condominiums usually enjoy the latest up-to-date facilities and amenities, but construction defects are … (2 comments)
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orlando condos: The Orlando Condo Market: Part II - The Interstate 4 Analogy - 08/03/07 06:30 PM
I read a lot of commentary about how much "inventory" is on the Orlando condo market, and a lot of predictions about how long it will take to be absorbed. I think by and large, the predictions are pretty good, but they don't always take into account the fact that many condo units are disappearing, often hundreds at a time, as developers get out of the condo business and slide back into the rental business.
Some condominiums have been postponed, others have been axed completely. I can rattle off over half a dozen condo communities that have done a vanishing act like this … (0 comments)
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Marcus Burke, Ph.D, GRI, e-PRO, ACRE, REPM, CNE
Orlando,
FL
More about me…
Condo Metropolis LLC
Address: Orlando, FL, 32835
Office Phone: (407) 290-3408
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