The Alexan at Legacy Dunes is going condo

[Ducky_Love]

Empirian World Gateway tried to go condo and failed. But then we are moving out because there is NO parking and the place is NOT well built. It is fine if you undertand that you are paying for location.. not quality.

Camden is just down the road, I have heard nothing of them going condo. Actually I heard they were sold and changed names so they could stay apartments.

Our number finally came up on the Cagan Crossings list. We were very picky and only wanted a specific unit on a specific floor. It took about 2 months, but we were lucky. It can take much longer there. We asked about the new units they are building and were told they were all CONDOS! *great* that is just what this city needs.

For the record Cagan is considered cheap rent for the area, but from seeing friends' units they are MUCH nicer than my pricier place at Empirian. Food for thought...

 

[PigletIsMyCat]

Half of Cagan Crossings (the Aurora side) is income restricted. Just so everyone knows.

My friends live at Empirian World Gateway, and I thought the condo deal was going through. No matter what, though, they are moving out because they don't like the place anymore.

If anyone has any great places that are renting for June/July that they think a few New Yorkers might like, can you let me know? Also, if anyone has seen or knows anything about Signal Pointe, Summit at MetroWest, or Carlton Arms South, info would be GREATLY appreciated. I'm in Orlando 4/26-5/03 looking for apartments.... and going to WDW a couple of times

 

[Ducky_Love]

Half of Cagan Crossings (the Aurora side) is income restricted. Just so everyone knows.

I asked before we signed our paperwork and they said it had not been income restricted for the last two years... it wouldn't be the first time an apartment complex lied to me though.. :lookaroun

Either way, I have lots of friends that live on the nicer side and they have no problems. I will let everyone know how it is when we move in!

 

[mom2of2]

Here's the latest crap!
We got our notice of turning condo on a Monday. I immediately went to the office and spoke to Tiffany. I told her that we were approaching our 60 day notice that weekend and didn't know what to do. She told me not to worry about it and go to the meeting that weekend. The meetings were held 4/1 and 4/2. Well we have no intention of paying over $300k for an apartment so we sent a certified letter on Monday to the condo assoc giving them 30 days notice. The notice was dated 4/1 that would mean we would be out by 4/30.
Yesterday I get a call from the condo assoc and they tell me that they are making their way through a stack of notices and wanted me to know that they rec'd my notice (really???? didn't I send it certified with return receipt like YOU said I had to??? obviously I KNOW you got it) Anyway this moron tells me that I have to pay 2 days rent because it's from the date SENT. I explained the whole deal and moron didn't care. When I asked how much I had to pay he said that he sent an email to the office letting them know how much each resident owed. SOOOO I went to the office.
I waited for Tiffany and when she came out I reminded her about coming to the office on "letter day" and how I was suppossed to give notice that weekend but she said to go to the meeting and now condo moron wants me to pay for 2 days. I told her I'd pay it in pennies if I had to. Well she didn't think it was right either so we went into Rob's office and explained it to him. He said "Bull Pucky (well it wasn't pucky but it's a family board!) you don't have to pay anything" So Tiffany pulled our file and noted that we were not to pay for 2 days.
Tiffany also told me that she doesn't know of anyone who is buying either.

 

[PigletIsMyCat]

I asked before we signed our paperwork and they said it had not been income restricted for the last two years...

I called them about a month ago, and my girlfriend and her hubby went there about three weeks ago and were told about the income restricted side. I am convinced that there is not a straight person alive in the Orlando rental market. They all seem to by lying to someone. Now I'm even more nervous about moving...

 

[Lokheed]

Wow, I guess we got out just in time. We lived at the Alexan Legacy Dunes for almost three years, and then back in late December we closed on our house in Winter Garden. We were completely out of Legacy Dunes by the end of January. Based on the previous comments we made the right choice.

Let's see, $300k for a two story, four bedroom house with a fenced in back yard in Winter Garden, or $300k++ for a mediocre three bedroom apartment right on the tourist strip. Not a hard choice.

I'm just happy we were fortunate enough to already be in a position to buy a house. A year ago we would have been totally screwed. I feel bad for all the current renters down there.

 

[tednvon]

Hello, I agree this is a shame and an incredible amount of money for 3 bedroom former apartment. That said, let me try and pull a positive out of this for the renters out there.
Once these condos are purchased, most investors will have to rent them to try and cover some expenses. Most investors are betting on a continued rise in property value.
They will also probably fully furnish these units right down to towels and silverware.

So to make the best of bad situation, keep on eye on sites like www.vrbo.com www.villas2000.com www.vacationrentals.com ...these are all direct from owner rental sites.

There is a glut of these weekly rentals right now, and it is only going to become more competitive as more condos are built and converted.

I think if a rentor would make an offer to an owner for somewhere around $900 to $1200/month for a year or nine months that many owners who are hurting for rentals would jump at that price, especially if they have owned the property for a few years and bought it a lower price. It will probably be about 1-2 months after The Alexan goes condo that the adds will start to appear on these sites. Now remember, this rate will include fully furnished AND all utilities. I do not know if that would come close to where you were before, but it is an idea...

Condos in the area that may be willing to look right now at long term rental would include Villas at Island Club, Villas at Island Club West, Mango Key, Villas at Somerset and Laguna Bay.

The problem, that will require some internet time, will be finding an owner who is so low on rentals that long term monthly at a lower rate than weekly looks good. It may take many emails to owners, but could be an option...Hint...use the "availabilty calendars" on these sites to screen condos. If a place is really full, skip it. However, if only a few weeks are taken in the next year, they may be willing to cancel some weekly bookings for a long term contract...
I know this is long, but is food for thought from someone who owned a 7bedroom home in Emerald Island and sold. I have watched the market very carefully and I know people are not getting enough weekly rentals unless they are renting it for nothing or have brand new shiney places like Emerald Island.

Good luck...Ted

 

[bjprice]

Time to leave the complexes and go for private rental?

I'm a Cast Member and a landlord. I own a handful of duplex buildings and am always in search of good renters.

I have a listing at craigslist right now, available for immediate occupancy.

It won't go condo.

http://orlando.craigslist.org/apa/165375016.html

 

[WDWPrnces02]

Thought Id share

Condo sales cool

Jerry W. Jackson | Sentinel Staff Writer
Posted June 19, 2006, 4:20 PM EDT RELATED STORIES
Reporter Jerry Jackson on the Midday Update Webcast
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Graphic: Market standoff
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Thomas and Lisa Kingery (RICARDO RAMIREZ BUXEDA/ORLANDO SENTINEL)
Jun 16, 2006
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Red-Hot Housing
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Jun 19, 2006

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Sales of condominiums in the Orlando area have cooled and are now contributing to the year-over-year decline in existing-home sales in the slowing local market, according to new report today.

The number of existing condos sold slipped 12.2 percent in May to 419, the first time this year the condo sector has turned negative compared with the same month a year ago, according to the Orlando Regional Realtor Association's monthly report. The number of existing single-family homes sold in the Orlando market dipped 4.4 percent in May to 2,070.

Nearly 7,000 more homes were added to the local Multiple Listing Service during the month, pushing the total number of single-family homes for sale in the Orlando area to a record 18,179, the group reported.

"I wouldn't be surprised to see us at 20,000 by the end of the year," said Scott Hillman, president of Fannie Hillman and Associates in Winter Park. Despite the growth in the number of homes for sale, though, prices in the Orlando area are "holding fairly well," Hillman noted.

The median home price ? half sold for less and half for more -- rose to $252,990, a healthy 13 percent higher than the same time a year ago.

"If you price your home right, even based on 2005 numbers, and you're in an established area, you're going to be under contract in 60 to 90 days. That's the way I see it. And that 60-to-90 days is a normal market to me," Hillman said.

Last year, homes in the core Orlando market, mainly Orange and Seminole counties, sold in less than a month during the peak of the hot sales market. But the average time on the market rose to 52 days in May, the longest wait in two years.

 

[If You Had Wing]

We've been looking at rental houses closer to DH's new job, looking in the Winter Garden area.

How would you describe the Winter Garden area? Is it nice?

 

[If You Had Wing]

We got a packet from the condo people saying we just had to give 30 days notice.

Do you mean that if you are living in an apartment and it suddenly becomes a condo, you have 30 days to move out of the apartment before you are considered to be buying it? That's nuts! I'd never be able to clear out of an apartment in 30 days.

 

[If You Had Wing]

Yikes, scary... that group owns our apartemnts at Buena Vista Place too...

How is Buena Vista Place? Nice? Cheap? Not nice? Not cheap?

 

[If You Had Wing]

nope haven't heard about any of their other properties going condo but then again our management didn't even know.

I wonder if mangers at apartment communities ever *pretend* to "not know" that their facility is going condo? Such as playing :goodnevil dumb.

I know a past property manager who used to flatly deny anything negative going on at her own property, no matter how plainly obvious it was. (Good way to wiggle out of dealing with problems that should be dealt with on her part, I guess).

 

[If You Had Wing]

Cagan Crossings is building a new section, but there is a 2 to 3 month wait there.

Is the new section apartment or condo? Thanks.

 

[If You Had Wing]

apartments are not built to the quality of a house, they are built in such a rush with poor craftsmanship.

Tell me about it! The apartments where I live have hollow walls. Nice that we were told that beforehand. Like not! Looks like a palace until you get a drop of water on the wall. You find out the walls are hollow after you notice a mold growing on the wall, and when you wipe it off with a wet rag, the moisture instantly pushes a hole right through the cardboard-thin wall. Also learned that the paint is not even waterproof. So you can't wipe food mess off the wall.

 

[DisneySaint]

I called the Alexan at Legacy Dunes today to ask and they told me they have something available. I'm confused - is it not condo yet and they'll let me live there like 2 months before I get kicked out OR is it already condo and they're renting it out?

 

[palmtreegirl]

I called the Alexan at Legacy Dunes today to ask and they told me they have something available. I'm confused - is it not condo yet and they'll let me live there like 2 months before I get kicked out OR is it already condo and they're renting it out?

It is confusing. It already went condo and the new mangement took over at the end of June. They're still renting out units and you can get a 12 month lease from them and they won't/can't violate it, even if someone technically buys your unit. I know they have many empty apartments so check to see if they have any move in specials. Hope that helped!

 

[DisneySaint]

It is confusing. It already went condo and the new mangement took over at the end of June. They're still renting out units and you can get a 12 month lease from them and they won't/can't violate it, even if someone technically buys your unit. I know they have many empty apartments so check to see if they have any move in specials. Hope that helped!

Thanks for the reply. I will be going to the Alexan when I make my Orlando apartment hunting trip booked for August 3-7. If they have a 12 month lease that will be fine. The place looks really nice and it's close to Disney, so I would be willing to fork over the few extra bucks for it.

 

[LisaHahn]

Need a place to live?

I own a couple of condos in Windsor hills and windsor Palms near Disney. I usually rent to vacationers but would like to rent to Disney Employees instead. Let me know if you are interested.

Call me at 407-620-1523

 

[slappy magoo]

I own a couple of condos in Windsor hills and windsor Palms near Disney. I usually rent to vacationers but would like to rent to Disney Employees instead. Let me know if you are interested.

Call me at 407-620-1523

Why yes, registering on a forum to sell your stuff IS a whole lot cheaper than buying a classified ad or hiring a broker! YOu may be the first person to ever figure that out! Congratulations! Horray for you! :sohappy: :sohappy: :sohappy: :sohappy: :sohappy: :sohappy: