Marsha

Hi Steve. My husband and I have been looking at condos in Mount Dora over the past six months. We have seen only a few sell and those were units we were not interested in. Some of the units that have sold in the past were snapped up by realtors. They do a little remodeling, up the price and put them back on the market. Even though Mount Dora is a quaint little town, we feel the condo market is still over-priced at this time. A lot of the units have been on the market for more than a year due to high asking prices. I truly believe if owners would price the units down 20% to coincide with the market of today, they would sell. I own a home in Polk County, FL and in 2006 it was worth 20% more than it is if sold today. I'm renting it....for now. I think the market will remain stale at least through this year and into next. As much as I would like to purchase the condo we have seen, I will not pay what the owner wants for it. I can appreciate that the owner lived in it for several years and feels it is worth X dollars, but it is only worth what the market will bear. - Sat Jun 21 2008, 13:45