Tradewinds Auction 2/2 Condo Deal

One of the Tradewinds condos auctioned last month has failed to close due to financing issues and is now available for anyone who can take it down quickly with cash. The 2/2 units are now back up to $130k but this one can be obtained at original auction pricing of $93, 500 for a serious cash buyer who can close quickly. Call 407-290-3408 ASAP – if you’d like a tenant in place for cashflow – this can be arranged. $10k down required at contract.

2 Comments

  1. I just don’t understand what the developers of the Tradewinds are thinking. They couldn’t even get buyers to purchase those units for $85K during the auction, so now they decided to increase the asking price to $130K in a continuing downward market? They can certainly ask any price they want, but how many units are they actually selling at those prices? Perhaps the developer has concluded it would be better to eventually file for bankruptcy protection and let the condo community go into bank receivership.

    To me, their best alternative would be to lower the prices to what the market is willing to pay for old apartment conversions…which is something below the $85K auction price.

    The Orlando housing market is not predicted to hit bottom until July-Sept 2010…there is still a LONG way for prices to fall. Look for current pricing to fall another 45-50% before the market improves.

  2. I have to agree. I see at least three MetroWest 2/2s listed more than 10% below the $93,500 figure…so $130k is “ambitious”, to put it nicely.

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