Home for Sale at 204 E SOUTH STREET, ORLANDO, FL 32801

204 E South Street
Orlando, FL 32801

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Property Details

List Price:	$267,000
Beds:	2
Baths:	2
Status:	Active
SqFt:	1115
Agency:	Preferred Real Estate Brokers

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Description/Comments

Lot Size:	2 acre(s)
Property Type:	Residential
Year Built:	2002
Notes:	Great opportunity to own a ground-floor, well-appointed premium condo in the heart of downtown Orlando. Perfect for investors or owner-occupants! Current tenant pays $2150 per month. Option to retain tenant or move in with just 45 days notice. Don't miss this flexible opportunity! This unit comes with engineered hardwood floors, granite counters in kitchen and baths, 2021 a/c and water heater, along with two assigned covered parking spaces in a convenient location (2nd and 3rd floor). Crown molding throughout also enhances the feel. Besides the convenience of first floor, this unit faces north in the back so you won't get blasted with afternoon sun but will have balanced natural light throughout the day. Open the french doors to your own back patio; surrounded by lush landscaping; setting the tropical vibe you're looking for at the end of a long day. The Grande has recently upgraded its exterior and it shows. The community boasts one of the nicest and most inviting pool areas, especially within this general price point. Exterior renovation completed in 2020/21 including new roof, paint, and windows. Cook up steaks or relax on the various chaise loungers poolside. This residence has a very usable, open layout with two full baths and bedrooms. One of the best-looking units in the building and first floor. You'll be hard-pressed to find a better, more put-together option at this price point. Tenant lease ends 3/31/25 with 45 day notice to vacate in the case of owner-occupant purchase.
MlsNumber:	O6142247

Listing Provided By:	Preferred Real Estate Brokers, original listing
Name:	Preferred Real Estate Brokers
Phone:	(407) 758-5353
Office Name:	PREFERRED REAL ESTATE BROKERS
Office Phone:	(407) 440-4900
Agent Name:	Dave Zembala
Disclaimer:	Copyright Â© 2024 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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Property Details

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Description/Comments

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HUD Foreclosures

Foreclosure Listings Increasing