Best Safe Place for Buying Condo/Townhouse Orlando

[cfIfan]

Hi there, well i dont work in that area, so i wouldnt presume to say whether that would be a good deal or not. What i do know is that in my location here in Central Florida, one of the builders i work alot with is selling concrete block 3bed 2 bath starting at $250,000 with upto 5 beds 5 baths topping out at $330,000 before upgrades and some of these dependent on the lot have lake views. We are finding now that alot of builders have lowered their prices and the only deals to be had are on upgrades and closing costs with not much if any flexibility on pricing.

Sorry i couldnt help any further

Originally Posted by besmart

Thinking of purchasing in Lakes of Mount Dora, Fla. Builder wants $350,000 for 3bm/2/bh,
cinder block construction, incls. land. with view of lake. This is a Pringle development.
Is this a good builder? Is the house priced right, or should we counteroffer? Any info you
can give will be greatly appreciated as we are unfamiliar with the area and don't want to
make a mistake. Thanks.

[jemelb]

Originally Posted by besmart

Thinking of purchasing in Lakes of Mount Dora, Fla. Builder wants $350,000 for 3bm/2/bh,
cinder block construction, incls. land. with view of lake. This is a Pringle development.
Is this a good builder? Is the house priced right, or should we counteroffer? Any info you
can give will be greatly appreciated as we are unfamiliar with the area and don't want to
make a mistake. Thanks.

Call a Realtor or get an appraisal done by a Certified Real Estate Appraiser.

[trothamer]

My mother has a very nice condo that unfortunately has dropped in price due to the market. She lives in Phoenix and is looking for a buyer as she is very motivated seller. It is in that price range and I can forward you more information if you are interested. Thanks.

[cagman]

Originally Posted by jemelb

Call a Realtor or get an appraisal done by a Certified Real Estate Appraiser.

I 2nd this!! Contact an expert in the local RE market. Builders are preying on people, especially out of state/out of country buyers right now. You might be surprised what that FL home you are getting set to buy is really worth. And you might also be surprised to find out how low the builder is really willing to go on his price.

[Lolly59]

I will tell your son to wait, prices are still going down. The Windemere/metrowest area in getting hot in terms of crime. But there are areas better than others and security should be something to consider. Where will he be working? I've heard Dr. Phillips area is very good.

[cfIfan]

Id like to see the figures showing Windermere is becoming a crime hotspot. As someone who lives and works in the area, i would have to disagree. In terms of condo's they are still quite highly priced and for what you get, purely because of the nature of condo's HOA are high, but there are some great deals on townhomes. Indeed Windermere/Winter Garden (the areas away from hwy50), there are townhomes which are new builds which are at the lowest prices they will go. In terms if resale, then there are some which are high simply because owners over paid but there are a number on short sale which are well priced. This area is one of the areas where the market has levelled out. If you look over towards Kissimmee then they may fall further.

[Christine1229]

I just went back and re-read the posts from everyone. My son just closed on his 2 bedroom, 2 bath condo in Hunters Creek for $73000. Last year this condo went for over $268,000. It is amazing how much the prices have gone down. Who would have known ? I remember looking for him last year and I though $130,000 was an excellent price. Taxes and HOA fees are a little high still but overall he got a great deal. Had a bit of an issue with the mortgage company ... not too happy with them. FYI - my son bought a foreclosure (Fannie Mae) and had trouble obtaining a mortgage because the property was NOT Fannie Mae approved. There are criteria that must be met for it to be "approved". The condo complex had more than 10% of their occupants with LATE HOA fees therefore it could not be approved. Because it was NOT approved - the bank could not give my son a mortgage for it. He ended up finding www.homepath.com which is a website with foreclosures on it and lenders who can give mortgages to these properties. Check it out .. it's great !

[paradiddle]

Originally Posted by Christine1229

I just went back and re-read the posts from everyone. My son just closed on his 2 bedroom, 2 bath condo in Hunters Creek for $73000. Last year this condo went for over $268,000. It is amazing how much the prices have gone down. Who would have known ? I remember looking for him last year and I though $130,000 was an excellent price. Taxes and HOA fees are a little high still but overall he got a great deal. Had a bit of an issue with the mortgage company ... not too happy with them. FYI - my son bought a foreclosure (Fannie Mae) and had trouble obtaining a mortgage because the property was NOT Fannie Mae approved. There are criteria that must be met for it to be "approved". The condo complex had more than 10% of their occupants with LATE HOA fees therefore it could not be approved. Because it was NOT approved - the bank could not give my son a mortgage for it. He ended up finding www.homepath.com which is a website with foreclosures on it and lenders who can give mortgages to these properties. Check it out .. it's great !

are you saying that this group of lenders on Homepath will do owner-occuppied condo loans even if not fannie mae foreclosure? I guess I should just call.

[Broker Dave]

Homepath loans are only for Fannie Mae listed homes, these homes are listed with Real Estate Agents in your area as stated on their website.