A client asked if buying a condo in "this economy" were "to risky".When you see a trend, wise to ask what may be at cause.
FHA financing of a condo requires that the facility be FHA approved.
Over 50% of those I have been thru have dropped the FHA approval.
Why does it matter?
An FHA mortgage is a qualifying assumable.
Meaning when mortgage rates rise..
(They have come down for a decade..like the South...they will rise again)
In a world of say 6% interest rates...when they can acquire your 3.75% rate..
whose unit do they buy? Right!
Competition bye bye!
If this helps..let us know!