Some good news and some not so good news for you this Friday morning. First, the good: Nationwide, distressed sales, which include real estate-owned (REO) properties and short sales, accounted for 9.4 percent of total home sales in July, down 2.1 percentage points from July 2014 and down 0.4 percentage points from June 2015. And now, the not so good: Of the 25 largest core based statistical areas based on loan count, Orlando-Kissimmee-Sanford had the largest share of distressed sales in…
See the Orlando Business Journal for the full post: Residential Real Estate News – Residential Real Estate News Headlines | Bizjournals.com
We’re proud to announce that Condo Metropolis has a brand new look!
After 9 years in the business, our original condo website, which was cutting edge at the time, had begun to show its age, and so we decided it was time for a facelift.
The new site still features free access to the Orlando Multiple Listing System (MLS) where you can get up to-the-minute information on the entire Orlando real estate inventory. The site also allows to to conduct unlimited custom searches, save those searches, and have our system email you new matches, so that you can be the first to know when that perfect property comes onto the market.
Our “Downtown Orlando” page has also been re-imagined, with listings for each downtown condo shown on their own page, and investors can link to our brand new Orlando Property Management site, where a host of management information awaits. (We also have another property management division in MetroWest Orlando.)
We hope you love it as much as we do, and we look forward to not having to go through this again for another 9 years.
Well I’m not sure I’d go that far, but these guys did. Apparently, Orlando has more fun things to do that you can shake a stick at. Which means, fun aside, it’s a great place to buy property. Because as long as the sun keeps shining, and Mikey Mouse keeps smiling, there will always be hoards of people wanting to live and work here. And buy real estate. And rent it.
‘Nuff said. You can read the full blog piece here.
Anyone who has to deal with them on a regular basis, knows that some Orlando condo associations have got out of control these days. They’ve gone from letting their communities go to ruin after the real estate crash, to implementing draconian measures to try and reverse the rot.
We get it, things need to be kept under control. And the truth is, some do-it-yourself landlords haven’t been screening properly, allowing felons and the like to gain entry. This has caused condo owners associations to start screening themselves, which means that many tenants have to go through the process twice. Once with a reputable company like ourselves, and then they have to pay again and go through the same procedure with the COA.
But some have gone too far. According to Orlando Property Management Execs blog, in the latest of draconian measures, which appear designed to put investors off from buying there altogether, The Hamptons at MetroWest is now requiring that even tenants who are renewing their leases, apply all over again – at their own expense. The Board of Directors wants to re-run criminal history etc. as if tenants hadn’t already been screened the year prior. Now sure, some tenants could have run foul of the law in the 12 months they were living there, but couldn’t we all? And if the Hamptons really cares so much about this possibility, then surely such additional checks should be done at the expense of the Board, and not the tenant’s? The current policy upsets tenants, owners and management companies alike. Sounds like a lose-lose-lose to us.
Condo Metropolis is pleased to announce the launch of it’s new property management site. Since our real estate division has been sharing online space with property management, we decided it was time for a new site where each division can focus on delivering a better user experience.
Both landlords and tenants will find the new property management site more streamlined and tenants can pay rent using a hot button directly from the home page. Maintenance requests can also be made using the same system. Owners too will benefit from a number of ownership articles which will help them navigate the choppy waters of property management.
The new site can be found at www.OrlandoPropertyManagementExecs.com
Now, all that’s left to do is update the main Condo Metropolis site. It hasn’t changed much since we launched in 2006, so look out for a new makeover later this year!~
Only 4 condos left at the Landmark in Winter Park. Fantastic location next to the coolest new coffee shops and bars, just off Park Ave.
Call 407-901-5161 for more info and to get a tour before the last few disappear.
Fairview Grande CondominiumÂ in Orlando can be yours for just 5% down.
The builders are blowing out the last few units from the low $200,000’s.
Upgrades include covered parking, granite counter tops and stainless steel appliances.
Amenities include a day dock, clubhouse, pool and fitness center.
The condominium also has gated security.
Let us show you around the latest deals on North Orange Blossom Trail (32804).
Call 407-901-5161 to arrange a tour today.
After what seems like years of going back to rentals, Millennium Cove (alternatively spelled Milenium Cove, or Millenium Cove, or even Milennium Cove,) an Orlando apartment conversion from the days of the real estate crash, is back on sale.
The location is yes, you guess it, a stone’s throw from Orlando’s Mall at Millenia (pick your spelling), with instant access to I4 and the Florida Turnpike.
One- two- and three-bedroom floor plans are available from 600 to 1000 square feet. Property taxes are still low and monthly condo association fees are dependent on floor plan. A community pool and other amenities are available for resident use.
For more info or to take a tour of this condominium, just call us here at Condo Metropolis on 407-901-5161 x10.
Bulk Orlando condo offerings, with anywhere from ten to several hundred units, used to be 10 a penny a couple of years ago, but they are pretty rare today.
But we have one for you. 10 condos for sale, all tenanted, all 2 bedroom, 2-bathroom, all tenanted and all managed. All in the MetroWest area of Orlando. Six at the Palms Club, two at the Madison, one at CrestView, one at Azur. All managed locally by us at Condo Metropolis.
Turnkey deal ready to go!
Email me for more info at Info@CondoMetropolis.com or call. 407-901-5161.
With spring in Orlando already well underway, were seeing uptick in the number of enquiries we are receiving from our clients who are thinkng about either exiting the marketplace, or acquiring new properties. As those of you who purchased through our real estate division know, at Condo Metropolis, apart from managing our investors condos and town-homes, we also help with the acquisition of new assets, as well as the disposal (sale) of those that have done their job. So if you have any questions relating to the eventual sale your investment, feel free to call or email us at any time.
The Orlando condo market reached rock bottom a couple of years ago now and prices have been steadily increasing ever since, at the rate of about $10K per year on average. Perhaps more around downtown Orlando.Â Whether or not the time is right for you to sell, will depend largely on what you paid for the unit in the first place of course, as well as your personal circumstances.
For those of you who were lucky enough to purchase from banks in around 2008-9 you may have already seen a doubling in price. In other cases, you may need to hold for a couple more years to see the investment make the return you had hoped for as prices continue to rise. Certainly there is every sign that the market will continue to slowly improve and as lending comes back, prices are likely to rise further. In about 80% of cases, my advice would be to “hold” pending further price rises so that you can see real capital gains but also cover the fees and taxes associated with selling. Continue reading