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Old 07-19-2009, 07:59 AM
 
Location: Miami North (Orlando)
976 posts, read 1,111,947 times
Reputation: 194

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We never should have bought our house here in Orlando, but we did. At the time, it didnt seem like a bad idea. I came back to FL from another area of the Southeast, and even though I was from FL, I wasnt that familiar with Orlando, and I knew before we were here in Orlando a yr that I didnt like it. I liked Orlando 10 yrs ago, but not the new version.
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Old 07-19-2009, 08:56 AM
 
30 posts, read 623,291 times
Reputation: 31
Quote:
Originally Posted by Dee2e View Post
Deafcharge, that area has many condos in trouble. There are 158 for sale between 16,300 and most are under $75,000. There are 89 pendings in that area.

If you don't want to short sale or foreclosue and you can pay your mortgage(s), just do so. You cannot short sale unless you have a bona fide hardship. Declining property values does not qualify you for a hardship. Renting is an option for many people. But if you rent out your home, you may find yourself renting another home. It's difficult to buy a second home since you'll now have to qualify for both mortgages as lending guidelines have changed. That turns the first property into an investment and comes with other issues should you later have a hardship. Best to talk to an accountant, an attorney and a good real estate professional before taking any actions so you understand all options available before taking the next step.

The market rebound will be slow. If you are keeping your house, it could take many years before you can sell without bringing money to the table or sell short.
Like I said in previous page of this thread, my condo has been paid off. I can afford to get a house and then have my condo rent.
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Old 07-20-2009, 03:07 AM
 
Location: Orlando
8,276 posts, read 12,859,732 times
Reputation: 4142
Quote:
Originally Posted by beckycat View Post
Have you been busy with showings? Are you selling and what?
Yes I have been showing a lot of homes. mostly single family 200-600k. I have several investors buying a lot as well. mostly condos for them.
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Old 07-20-2009, 08:12 AM
 
Location: Asheville, NC
12,626 posts, read 32,065,841 times
Reputation: 5420
Quote:
Originally Posted by AONE View Post
Yes I have been showing a lot of homes. mostly single family 200-600k. I have several investors buying a lot as well. mostly condos for them.
That's great to hear!
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