If youâ€™re looking for a nice 2260 sq/ft condo on Turkey Lake (near the Mall at Millenia), there will be an auction on September 8th. For more details, see Orlando’sÂ newest real estate blog, Roofable.comÂ
Meanwhile,Â the Altamonte Springs condo auction (Sept 16) seems to be causingÂ a flury ofÂ interest and could well turn out to be the most excitingÂ condo opportunity of the year.Â About 60 condosÂ in the Altamonte area are to be auctioned off at rock bottom prices, 20 with no reserve.
Question is, will anyone show up to take advantage of these condoÂ deals?
Â Think about it. Your average investor is already “tapped out:” they’re looking to unload the condos they already have, not buy more. Most couldn’t leverage a mortgageÂ if they tried right now.
Regular buyers mightÂ do better, but theyÂ have to be able to get a mortgage at short notice – and we all know that the requirements are stiffer than Elvis right now.Â Â You better have a decent job, a more than decent credit score, some money to put down and a prayer to boot. All of which,Â could addÂ up to a condo steal-arama for those that can actually swing it. And as always, cash is king. If you think it might work for you, drop us a line and we’ll send you a registration form so that you can attend the pre-qualification event.
So -Â who said the current “Buyer’s Market” wasn’t producing any really good deals? More auctions to follow in September… watch this space.