Robert Mayo, Both Buyer and Seller in Mountain View, CA

What's going on with the condos at 12600 SW Crescent Street?

Asked by Robert Mayo, Mountain View, CA Wed Jul 7, 2010

I've seen photos of partially completed buildings, and google turns up old news reports about bankruptcy. Do these condos have a functioning HOA? Are they livable? Would they be a good investment (to rent out)? I figure appreciation would depend upon future success of a more fully built urban center at that spot.

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Answers

5
Condos, like any investment, can be good or bad. You just have to do some research, and stay away from buildings or HOA associations that have issues unless you know what those issues are and are willing to take on the risk.
The condo complex that you refer to, "Lofts at the Round" has had many issues and those issues, combined with the overall fall in real estate values, have left the current owners in a difficult financial position. There have been only two units that have sold in the last year and both of those were bank listings that were sold for cash as most lenders will not lend money for a condo in a complex that is involved in litigation.
The other problem with this complex is the cost of ownership. The HOA fees run about $600 per month and there are "other fees" listed as high as $233 per month, not ot mention the property taxes which can run from about $3200 per year to $5000 per year depending on the unit. Some of those monthly costs are most likely associated with the repairs to the siding and windows that the complex is undergoing.
With all those monthly costs it would make it difficult, if not impossible, to cover your expenses with a renter.

If you are interested in purchasing a condo in the Beaverton or surrounding area, make sure you do your research and work with a knowledgeable agent who can guide you through the process.

Ann Davis
Broker, Licensed in Oregon
Keller Williams Realty Professionals
503-886-9862
2 votes Thank Flag Link Thu Jul 8, 2010
By 2010 the condos have been completed. What you saw were old, old photos when the place had some issues. It's fully functional and was two years ago when you inquired. I'm only responding to prove a point to Trulia . . . regarding their "points" for answering.
0 votes Thank Flag Link Tue Jul 3, 2012
to add to my answer about lifestyle. It is centally located in Beaverton, has some of Beaverton's best restaurants nearby, close to all your shopping and the max is there for easy commute downtown.

There is also a 24 Hour fitness next door as well as Cedar Hills Crossing a few blocks away.
0 votes Thank Flag Link Mon Sep 20, 2010
I think it would depend on lifestlye choice if this is something you are looking for. Yes the HOA has had it's ups and downs but they are continually working to improve it.

From my understanding a lot of the remodel work has been completed, it has very high HOA dues though. So I'd say it's decent for someone to buy it cash if they had the funds and could afford to just maintain the HOA, taxes, and utilities.

Not a great rental idea.
0 votes Thank Flag Link Mon Sep 20, 2010
There are 3 for sale. One in an auction, one for 125K and one for 265K

In the last 9 months there have been:

16 cancelled without selling
56 expired listings
2 sold for 99K and 120K

I dont know what shape the HOA is, if any, but I wouldnt take one of these things for FREE. Condos are a very very tough game. With a few exceptions---dont buy condos at all.
Web Reference: http://getpaidtobuy.com
0 votes Thank Flag Link Wed Jul 7, 2010
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