Housing Market is Collasping, Converted Condo's are becoming the Cheap Alternative.

The market shows significant signs of decline, but still there is much construction in the Downtown Orlando area with new condo skyscrapers going up as you read this. This indicates that still developers and investors realize the need for housing around areas that are growing or areas that have many career job opportunities. The housing market is in shambels, but families are looking for more cost effective housing to reside in. Families are looking to live closer to their jobs, and Condo's are their answer. Most apartment complexes are experiencing almost flatline traffic levels due to the fact that most prospective tenants can afford small houses or condo conversions. The goal of most apartment complex owners should be how to shift their vacancies into profitable returns. My advice is to look into the condo market, and offer cheap housing solutions for clients and advertise the benefits of location and the maintenance free lifestyle a newly renovated "Condo Conversion" can offer.

Foreclosures are soaring!!

In the last couple of months foreclosures have rose beyond record levels due to the increases in property taxes, insurance, and creative financing issues. Home owners are looking for more affordable housing and Condo Conversion properties might be the answer. With the potential of buying a newly renovated home (Condo conversion) with the amenities and the great locations offered, more first time home owners are beginning to look towards purchasing a condo. Even though the market is saturated with condos downtown Orlando, condo conversions that are located in the surrounding area's are great deals for first time buyers or families that might need to sell their existing home and move into a investment that is more affordable.

Call Wayne today at (407) 256-0397 with PrestigeCore LLC to see what solutions we can offer you. We are a smaller construction company that focus more on client relationship and budget management.

This is PrestigeCore, WE CAN HELP

As an investor, the most important part of the Condo Conversion process is finding the right developer and the right sales team that fits your style. Our development team can take an older property and convert it into a contemporary - modern feel - luxury condo. We can also provide the sales, financing, and title work all in house to help lower the final cost of the conversion.

We can help convert any size property, and raise the overall profit margin of any interested investor. Contact Wayne or one of our other qualified General Contractors at (407) 256-0397

PrestigeCore is now offering specials on Kitchen Remodeling for Apts

PrestigeCore has found a great source for custom made cabinets and countertops for large orders and Remodeling Apartment communties. We can offer competitive prices for removing those older kitchens and upgrading to real wood boxes and doors for the kitchen cabinets. Make sure you use the real licensed professionals in Central Florida.

Call (407)256-0397 today!!!!

www.PrestigeCore.com

If you are an investor or contractor looking for a company that can complete a condo conversion for you visit www.prestigecore.com or email us at prestigecore@aol.com

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Condo Conversion's in Central Florida

Condo conversions, a transformation of a rental property into a individual units for resale which also changes the legal status of a property, has been very popular in Florida for decades. For a seller, the condo conversion process represents a way to legally separate and sell existing "apartments" one or more at a time. For a buyer, the process represents a less costly way to enter the home ownership market since a condo unit is typically much more affordable than a multifamily building. For a lender, the condo conversion represents increased and stable buying power.

Apartment complex owners across Florida are converting rental units into condominiums for sale, capitalizing on the hot housing market. A handful of state laws are designed to protect renters, allowing them to renew their leases for a limited time. Other laws require that renters be given the first opportunity to buy a unit. About 10 percent to 15 percent of renters typically buy a unit when their property is converted to condominiums.

A condominium consists of an individually-owned "Unit" and a share of group-owned "Common Area". The "Unit" is the space within the walls, floors and ceilings of a dwelling, and the "Common Area" is the remainder of the property. Owners pay their own mortgages, property taxes, and utilities, plus monthly "Condo Homeowners' Association Dues" to cover repair and insurance of the Common Area. A lengthy document called the "Covenants, Conditions and Restrictions" or "CC&Rs" establishes the rights and duties of the condominium owners.