Home Selling in 32821>Question Details

D. K. Sun, Both Buyer and Seller in Orlando, FL

What is the market for condotels right now? Is it a good time to sell or should we wait?

Asked by D. K. Sun, Orlando, FL Mon Oct 15, 2007

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I can be a lot a fun to look back at answers 2 and a half years later and see how good the advice was. Clearly Hojin's answer has turned out to be excellent.

What about now in the spring of 2010? How is the condotel market in Orlando?

I have to admit that I've done a complete 180 on condotels. If you had asked me a year ago I'd have said buying a unit in a condotel is not investing in real estate. Even six months ago I was not very positive. But frankly prices have fallen so incredibly low that there are some deals out there that are just too good for a buyer to pass up. I mean $10,000 to $15,000 for a hotel room next to Disney! What's not to like? If you have limited resources but would like to try dipping your toe in the real estate market, then check out condotel bargains near Disney.

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1 vote Thank Flag Link Sun Mar 28, 2010
You should have sold. I hope you did.
0 votes Thank Flag Link Sun Mar 28, 2010
The only time I can remember the market for condo hotels being good in Orlando was 2005. The market in Orlando is not good at all right now and even worse for condo hotels. Typical boom cycles last 4 years and bust 2 years. The last boom we had lasted 10 years so I expect the recovery time to take at least twice as long as what is typical. We are 1.5 years into the bust cycle but we a few years of declining prices to go in my opinion. My suggestion is to sell now before the prices drop further. Just look at the bust years in the early 90's. The market did not recover until 1996-1997. The only difference is the interest rates are low right now but there are many similarities.
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0 votes Thank Flag Link Mon Oct 15, 2007
In central Florida the condo market in general remains a bit depressed. But there is always a market for these type of units due to the tourism market here. The great thing about selling a condo hotel in Orlando is that not only is there local market but there is also a global market . However, right now buyers are looking for steals; even foriegn nationals know that it is a buyers market. My advice is to all my sellers is that if don't have to sell right now wait out the market, but if you do have to sell be prepared to do what it takes. Let me know if you have any more questions, my company specializes in global marketing of Central Florida properties.
0 votes Thank Flag Link Mon Oct 15, 2007
Condotels? Thats the first time I've heard that word before. Would a condotel me the same as those condo's in Las Vegas. When your not there, the casino rents the room to someone else and the casino splits the profit.
0 votes Thank Flag Link Mon Oct 15, 2007
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