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Zipcode: 80223
Bthrm: 1
Bdrm: 2
City: Denver
Denver, CO
$116,000.00
Zipcode: 32256
Bthrm: 2
Bdrm: 3
City: Jacksonville
Duval, FL
$55,000.00
Zipcode: 30344
Bthrm: 4
Bdrm: 5
City: Atlanta
Fulton, GA
$185,000.00
Zipcode: 78753
Bthrm: 1
Bdrm: 3
City: Austin
Travis, TX
$104,900.00
How many places have we seen the sign that there are condos for sale? You can hardly drive across town and not see one of those little signs looking. It seems that owners are rather desperate for people to buy their condos.
However, there are reasons for their desperation: the market is depressed and so is the economy. Condos can be quite expensive. Most of them come with a cost for the living space, plus association costs for the common areas. The costs for both is going up and making it harder to sell such units. These are like single family homes in that they can also be foreclosed on, if the payments are not made. However, as they are condos, they come with some extra expenses that can make them not as good a deal as other foreclosures.
Be careful when you follow one of those condo's sale signs, as they might lead you into a deal that is not in your best interest. There are dishonest people everywhere and the people dependent on selling those condos for a living are not going to be very calm in times like these.
Because of this, you might find a decent deal from the original condo dealer. However, the best deal will be in the foreclosures of the same and neighboring units. Since there is a common area that is shared, the worries about there being a maintenance nightmare on a condo foreclosure are going to be a lot less than that of a free standing home. A freestanding one is a tract house that can have anything wrong with it inside. However, when it comes to condo, you can relax a little there.
Before you go out and buy a condo, be sure that the association fees are not high and try to have a limit built into them. Some will be able to go up every six months and by any amount. If that is the area, which you are looking at, keep looking till you have not found the best deal. As time goes on and more & more condos for sale are available to you, you will see that the deals get better. The discounts will then cut a bit deeper, and you are going to be the one standing pretty with a deal that cost one-half of what the guy above you paid. Invest wisely and have a great time in your condo.
