So the previous deal of the day (yesterday) has already gone bye-bye...
The list price was just under $110,000...and I drove a client by today and met the NEW OWNER!!!
Not even on the market for a DAY!! He said he has it tied up for $125,000
that's $15,000 OVER asking price...
That goes to show...a good deal is only a good deal if you can actually GET the deal...sometimes you need to fight for it!
Also...all you that think Condos are good investments...think again!
This article talks about property in New York, but the same applies here as well.
The problem is that if you purchase a home in a condominium complex, no matter HOW GOOD YOUR CREDIT IS or HOW MUCH MONEY YOU MAKE, lenders will ding you on the rates, fees, or even qualification!!
http://www.nytimes.com/2009/02/01/realestate/01loans.html?partner=permalink&exprod=permalink
Plus...all that money you pay your HOA could help you buy an additional $40-50,000 in mortgage buying power...if you ask me, the best neighborhoods to live in are the older, established 'hoods that are adjacent to a population center and don't have any additional restrictions or fees to live in. AND downtowns and urban areas are becoming super trendy and that means the values are strong and will stay strong!
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