Condo conversions in 34741 (Kissimmee) (Bell: apartments, foreclosure, renters) - Orlando - Florida (FL) - City-Data Forum

florida86 · 12-01-2009, 01:44 PM

I am looking at some cheap condo conversions in Kissimmee for 25-35k 2 bedroom. The complexes I am looking at are Cascades at Kissimmee, Villa Del Sol, and Bella Vista. Cascades has the lowest HOA by about $100 compared to the other 2. Taxes are higher at Cascades, higher assessments than similar units in the other 2 complexes. I know that there are a lot of HOA and foreclosure problems going on. Not taking that into consideration, Which would be the better complex for the money? and, Why are the assessments on taxes so different between complexes? I called the tax office and he gave me a run around. Seems like theyre all in the same basic location in Kissimmee, still don't know which area might be safer out of the 3. Sorry for the long post...Thanks

florida86 · 12-01-2009, 06:29 PM

anyone???

annerk · 12-01-2009, 06:48 PM

I'd be VERY careful about the financial stability of the HOA's.

mongoslade223 · 12-01-2009, 06:56 PM

Mve and my family went looking at some of those condos the OP was talking about. We put in a couple of bids but we were out bid every time. You have to look at the HOA fees because in most cases they have not been paid in a while, and what is listed on the paper could go up dramatically once you move in.

mongoslade223 · 12-01-2009, 07:06 PM

We looked at a 2/2 at cascades that was really nice looking. Had all new appliances, carpet, etc. I forget the asking price at the time ( this was back in April). We put a bid in and were outbidded. The area looked quiet to me, but my needs may be different from yours (single male). The thing is, though, alot of the units have been rented out, and I read some not so nice things about what is going on there. I would definately not buy sight unseen. I have some pics I can send you if you want.

http://www.apartmentratings.com/rate...partments.html

florida86 · 12-01-2009, 07:33 PM

Ive read the recent negative reviews on that one site. I have a family member that purchased in Cascades after bidding on over 20 different units. I am considering a unit for myself to live in most likely. My family member is happy with Cascades, but I wanted to see about the other 2 communities, Villa Del Sol and Bella Vista. I mapped them and they seem about 2 blocks or so away from each other. I know from my family members experience they seem to be hard to get even when listed 16-25k always go higher, she paid 30k for a 2/1 with granite, stainless appliances, pergo, all new cabinets. I would like something like that but based on what I've seen most aren't upgraded that well. Still being cautious about the HOA.

florida86 · 12-01-2009, 07:35 PM

basically trying to figure out of the 3 communities, which am I getting the biggest bang for the buck, and which community may be safer versus the others.

CascadesOwner · 12-21-2009, 05:55 PM

As a recent owner in Cascades I can offer the following: The worst is over for us. We had a terrible management company at the helm who just didn't pay the bills, left us uninsured, with a 48K debt on our water bill, all maintenance had stopped and all amenities closed. They told us there was no money but we know first hand that is not the case. Nothing has changed as far as number of homes in foreclosure, the number of people delinquent in their dues. The big change was stopping the bleeding of the old management company, hiring a new one and watching how the money was being spent. In two months we have managed to begin to turn our community into the vibrant place we all knew it could be. All it took was having a management company more concerned about the people they are hired to protect then they were about their bottom line. Since things have begun to turn around for us people are complaining that things are selling too fast. A beautiful thing for our community. We have great owners and renters and we are all working together as a community to make this place a home. I highly recommend Cascades at this is the best time to get in on a good deal.

florida86 · 12-22-2009, 07:10 AM

Of all the communities I had viewed down there, it seemed Cascades had the greatest sense of community for sure. I know its next to impossible to get financing for them, heard about homesteps/homepath, but don't know how they work and ,if they are really offering mortgages on these types of properties? or is it a standard thing put into the listings?

CascadesOwner · 12-28-2009, 04:49 PM

Quote:

Originally Posted by florida86

Of all the communities I had viewed down there, it seemed Cascades had the greatest sense of community for sure. I know its next to impossible to get financing for them, heard about homesteps/homepath, but don't know how they work and ,if they are really offering mortgages on these types of properties? or is it a standard thing put into the listings?

A homepath mortgage is a FannieMae foreclosed property. You can get into them for little down. The appraised value is the purchase price. However, there is quite a bit of red tape to go through. I would contact your lender and get your T's crossed and I's dotted to make sure you have everything in order before trying to get one. They are few and far between.