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orlando real estate: MetroWest Real Estate Orlando Gets New Website - 09/13/10 12:56 PM
The MetroWest subdivision of Orlando (32835), got a new site this month as the Orlando Real Estate Pros launched a new site aimed at helping buyers of MetroWest real estate.
The site focuses on Metro West single family homes but also has a condo section. The site's developer, Marcus Burke is a resident of MetroWest and says that MetroWest needed a real estate site that was dedicated to the subdivision.
"It seems that condos get all the attention these days," he said. "But the fact is that the real estate in MetroWest is pretty diverse with a good number of townhomes and high-end single … (0 comments)
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orlando real estate: 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 real estate: Chinese Drywall Website Goes Live - 08/20/09 06:44 PM
The Consumer Product Safety Commission (CPSC), recently set up a Web site to keep consumers, drywall manufacturers, builders and others up to date with its investigation into Drywall imported from China, blamed for rotten egg smells along with fast metal corrosion and miscellaneious health problems.
CPSC's Drywall Information Center offers updates (online and via email) on the investigation, help for homeowners trying to determine if their drywall is making them sick, where drywall problems have been reported and other related information.
Preliminary research from the U.S. Environmental Protection Agency found the Chinese-made drywall contained sulfur, which is not in U.S. drywall, but widely … (3 comments)
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orlando real estate: Agent Found Dead In Foreclosed Home - And The Valuable Lesson Therein... - 07/25/09 05:41 PM
"So anyway, this is the kitchen - beautiful isn't it - and in the living room you will notice the, um, the dead body on the floor?"
Many of you telephone real estate agencies, having seen something you like the look of online, and ask us to just meet you there at the property for a viewing. We've never met you, you've never been to our office - you're not even a client.
Some buyers are surprised when we want to "pre-qualify" them before meeting them at an empty house or putting them our cars; that is, make sure they are ready, … (0 comments)
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orlando real estate: 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 real estate: Foreclosure Street, Orlando FL - 01/10/09 10:50 AM
"Ok, well keep me posted if you see any good deals."
I hear this all the time from would-be buyers on the phone. "Sure," I say.
What I really want to say is: "Are you kidding me? I'm a real estate broker - and there are 22,000 listings in Orlando right now - half of them foreclosures going for a steal. Why don't YOU get back to me when you're serious about buying?"
But of course I'm not that rude.
The truth is there are hundreds of killer deals out there right now. Question is - how quick can you move if you have … (1 comments)
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orlando real estate: 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 real estate: 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 real estate: Fresh Meat: Condo Vultures Hit Florida - 01/16/08 08:07 AM
A recent report by the Florida Association of Realtors suggests that for the month of November 2007, Orlando saw a 35% decline in sales of single-family homes compared with November 2006, while condo sales plumeted by a massive 55%. Orlando condo sales were a meagre 125, down from 276 sold in November 2006 (already a bad year!). Median condo prices fell 18% from $172 to $140.5
Statewide, sales dropped by 29% with a median sales price of $186,700, a drop of 9% from $204,500 in November 2006. (Source: Orlando Business Journal.)
All of which suggests that the strong Florida buyer's market is likely to continue well into 2008.
Something … (1 comments)
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orlando real estate: 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 real estate: 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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