I have another opinion about condos..... Right now it is very difficult to get a mortgage in most condo complexes so that is why prices are so low.
There are lobbyist trying to encourage easing of FHA requirements for condos so buyers can obtain a mortgage with only 3.5% down.
If these lobbying efforts are successful, condo prices will certainly rise. If they cannot get the mortgage underwriter requirements loosened then yes a condo may be a very risky investment.
So if you are a risk taker then go ahead and buy a condo! Also you have to do a lot of homeowrk about the complex because those that have a lot of non-paying owners that are in pre-foreclosure will probably not pay their condo fees so you and the other paying owners may see your fees double.
Good luck and find a Realtor in Orlando and they can set you up with a ListingBook account and it will show the condo fees.
All the best,
Liberty Square complex - start @ 28K and the HOA fee are 215/per month
Sienna Place Start @30K - Monthly Fee are 197
Village Marquis Start @ 23K and monthly fee are 236
Metro @Michigan Park 2/2/ - starts @32K - Monthly Fee - 267
Village Square a 2/1 Starts @ 35K - Monthly Fee $180
Regency Garden a 2/2 Starts @ 36K - HOA Fee $318/per month
Wimbledon Park a 1/1 Starts @40K - HOA Fee $246/per month
My 2 choices will be Liberty Square & Wimbledon Park. Community is excellent. If you would like more information, email me at email@example.com
Pacific Atlantic Realty