Orlando Condos: What Marks the Point of No Return?

With all the media surrounding the condo "slump" and the mortgage issues, experts from across the country are being asked to predict the end and "how bad it will get".  Even the experts know it is tough to tell where the market is headed.  Of course we can look at historical data and market indicators, but many have done this in the past and been wrong.  So who really knows?

Builders of Orlando condos for example are facing big decisions.  The builders with projects that have not broken ground yet are probably better off than those who are "past the point of no return".  However, many Orlando condo buildings such as the Vue at Lake Eola are taking reservations and have cash deposits on a large portions of their units.  Now it is a matter of how many will close.  many are still confident that the progress made so far is a good sign that the projects will come out on top. 

The builders of Orlando condos that haven't broken ground yet are mostly on hold to wait things out.  They are waiting to see signs of an upturn as well as to see what happens in the lending industry on the home buyer and construction side.  Of course the other market indicators are still obvious.  The demand has dwindled.  Speculators have pulled out and construction costs have gone through the roof.  I know, I know...this is nothing new that we haven't all heard before.  I think the main questions still is how will all real estate related companies weather the storm?  Will there diversify their business model or just close up shop and ride it out. 

Many real estate companies are having to lay off personnel in order to keep profit margins healthy.  Hopefully, the experts saying this "slump in the condo market won't be as bad as it has been in the past" are right!