Hi Bill,
To answer your question directly, location is probably more important than the fact that the condo has 1 bath. There are always exceptions to every rule.This is a great time to buy with the lower prices and low interest rates! Real estate is cyclical so the market will turn around again and become a sellers market.Besides if you are a 1st time homebuyer, you may qualify for the $8000 tax credit if you settle by Dec. 1 this year.I disagree about the 1st floor being more in demand. It really depends on the age group. I have found that seniors like the 1st level of a condo however other age groups might prefer the 3rd floor because many of those units have vaulted ceilings.Donna Wisniewski

There is a market for every product. In a softer market you are likely to get even better bargains on properties that have less competition. The key thing is whether or not this meets your lifestyle requirements and is a good deal and well within your financial means. One should never overbuy and stretch the budget and create unnecessary risk for a prolonged period of time. You are wise to be taking opportunity of this market. The nervousness is understandable and healthy as it means you are carefully assessing your risks and trying to exercise good judgement. Hope everything works out for you. All the best.

Lot of good advice already. Consider location; that's vitally important. Also consider the building and the "feel." Is it a run-down 1970s garden-style condo? Or is it something that's desirable today and likely to be in the future.

Consider tenants. Are there a lot of rentals? Are a lot of units rented out to college kids from Maryland? Or is there some stability there? How close is it to Metro? Consider management and condo fees. Is everything under control at that end?

As for your specific question regarding a 2/1 versus a 2/2--true, a 2/2 is likely to appeal to a wider group of people. Still, I wouldn't worry too much about that. Given a choice, go with a 2/2. But there are plenty of 2/1s out there that are fully marketable. So don't make that your sole litmus test.

Hope that helps.

Hi Bill - The overall market for condos here is very soft with a lot of inventory and lots of foreclosures. Take a look at this article and scroll down to the bottom to see stats for Condo sales - http://mocorealestate.com/2009/06/28/montgomery-county-marke…

Cher gives great advice. If I were buying a condo right now, I would look at only those with the best location in the best developments. And I would still aggressively negotiate on price. If you think there's a chance you will be moving/relocating in the next 2 to 3 years, then I wouldn't buy right now.

2 bed/2 bath is always better than 2 bed/1 bath. I would place more emphasis on location, quality of the development and -- most important -- price.

Good luck.

Hi Bill,
The number one rule is Location, Location, Location. Where in SS is this condo located? Near downtown? Shopping? Restaurants? Metro? There are tons of condo's, townhouses and SFHomes in Silver Spring in foreclosure right now. So you want to make sure are in absolutely the best location possible for when the market returns to normal. In this area I think a 2 bed 1 bath condo is a good idea as there are lots of single people always looking to buy in the proximity of DC. Just be prepared to hold onto your condo for a long time, even if you end up renting it. If you need help in finding something else, don't hesitate to click on me to find contact info! And another rebate! Lots of luck! Cher

How many of the Condos are owner occupied?

How many are in Short Sale or Foreclosure?

Have you reviewed the Condo Documents?

Has your CPA and your Attorney looked at the current Financial Position of the Condo Association?

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Oh, and yes, go with a 2/2.

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Best wishes to you,
Fred
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