I have lived in the Visconti for the last 2 years, and it is because of Management issues and damage from the storms have been very difficult for them to overcome. I had a serious of on-going battles with the staff regarding them entering my home w/o my permission for non-maintenance related issues. Additionally, the storms have caused damage to multiple units and as you know...water in florida equates to mold and bugs.

Pute,

I have seen these units and you have a very valid question regarding Visconti. I have checked on the FHA approval list and found that it is NOT on this list. Therefore getting funding is more difficult. Many Condos are finding it difficult to move units due to this condition.
Hope this helps.
Realtor Rick.

Hi Pute

Couple of reasons why....Not a lot of people are buying condos these days because only a certain set of condos are FHA approved. Meaning, unless you're a cash or conventional buyer (at least 10% down), you're not able to purchase condos. Another reason in general is the price of single family homes or townhomes has dropped so signifcantly, that it's as expensive to purchase a condo with a high home owners fee as it is a home. And, just like the rest of the market, when an area is flooded with distressed sales, it's all about supply and demand-there's too many available, so the prices drop. Right now there are 25 active listings in that community, and while I'm not positive about this (I'll have to contact my preferred lender), I'm pretty sure these places are not able to obtain FHA financing, so the prices need to be obtainable for the cash buyer.

Food for thought, right?

Your Favorite Realtor,
Amanda Sarnes