My husband and I were considering purchasing a condo in FL and I had read something about the condo financing market making it difficult. What defines a condotel? I know it's those that are rented out throughout the year by the owner but what is the exact definition?

If financing is difficult to come by, then prices will continue to plummet even if some sellers can afford to offer seller financing. I'm really interested to see what is going to happen long-term to these rental condos. I wanted to get something close to Disney World (Kissimee?). We might even pay cash.

But do I want to purchase something that I'll have a difficult time selling in 10 or more years, or do we just not have a crystal ball for that length of time?

Then I'm thinking of just purchasing a local rental vs. one in FL and taking my Disney trips on the proceeds from that. I feel if things turn around in FL there would be the chance of having a larger appreciation long-term than purchasing something here in the Midwest where we've been hit but just not quite as dramatically as FL.

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