Orlando Realtors help me find a Condo

Orlando Realtors who have Condos listed:

I need to find a Condo in Orlando - preferably within 5 miles of downtown, or within a mile or two of I-Drive.  

Price = somewhere in the 50K range (I have pulled up hundreds of these on websites - help me narrow it down).

Buyer has $50,000 cash.

Criteria:   at least 51% owner occupied.   Condo Association "in good standing".

Pool, workout room, clubhouse, etc. are a plus.  (This is for my friend's 30 year old daughter - it needs to have some "cool" amenities).  [Something along the lines of Millenia, although Buyer says "no" to that project].

Gated, or security on site.

Condo Conversion  okay if the building is less than 10 years old.

Low Crime area.

Preferably Vacant.

Short Sale okay (and probable), if  LA has  established communication with  the Lender, etc. 

Here's the deal -
I am a Licensed Florida Real Estate Broker  - my paperwork with My Florida MLS is in process, and I will belong to MFMLS in 6 to 7 business days as a Broker-at-Large. 

I have a Lockbox Key - ORRA has already activated my GE Supra eKey for ORRA Listings (if the property is vacant, I can let myself in).  This will be a cooperating sale between the listing office and my office.

I am at FAR Convention this week - leave a voice mail, or post the listing here, or email me using Zillow Contact info, or use the contact button on my Website.

My agency position will be Transaction Broker.

TIA,
   Frederick Griffin, Licensed Real Estate Broker
  • August 19 2009 - Orlando
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Answers (3)

Thanks, Kim and Dave and those who emailed...

     Buyer decided that the 50K Condo Conversion "deals" were not a good investment. 

      Condos that had sold for $249,000 and $199,000 in years 2003 - 2004 were down to $50,000 - $70,000 - $ 90,000.  Ouch! 

     We noticed a cycle here - these complexes had been built as "blue-collar workforce rental apartments"  during the late 1990's early 2000's.  Around 2002-2003 developers bought them and did the condo conversion thing - adding gates, pricey landscaping, upgrading the pools and the clubhouses, etc., providing the "upscale lifestyle".

     Today many of these complexes appear to be reverting back to the blue-collar workforce  Rental apartments.  They are struggling to keep the "upscale look", and many  of these projects are soaking in foreclosures and short sales. 

     Buyer decided to move on.

   So, we shifted the focus to College Park / Winter Park, single family homes.  The Prices are substantially higher than the Condo Conversions along Kirkman - Conroy - Vineland - etc., but long term investment seems to be more realistic.  

     Of course,  Buyer thinks prices will continue downward (there are a lot of houses for sale in Orlando), and will shop accordingly.

Thanks again,
   Fred

  • August 24 2009
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GOOD LUCK!
  • August 20 2009
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Good Luck!
  • August 19 2009
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