Home Selling in 97205>Question Details

Eileen, Both Buyer and Seller in Niagara Falls, NY

Is it harder to sell a condo or a home?

Asked by Eileen, Niagara Falls, NY Sun Aug 19, 2012

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7
Brad Golik’s answer
This is a question that totally depends on the situation. I specialize in the condo and loft markets. One fellow agent stated that in Portland, it is much easier to sell a condo than a home. I have to totally disagree with this answer. Having a condo that is in a great location (location, location, location) is not always reality. What about the condo owner that owns a condo at The Edge that backs to the freeway? Is this a great location? Will this be an easy sell? What about an agent that is trying to maximise the final sales price for the owners? Will this be any easy sale when you have priced the condo in the very upper range?
I often tell condo owners that ANY agent can sell their condo, but at what PRICE?

There are so many factors that come into play and it is not black or white in terms of which is earier to sell. Getting financing on condos can be much more difficult than on a single family home. What are the inventory levels like in any given area whether it is a home or a condo. This is a huge factor to consider.
0 votes Thank Flag Link Thu Sep 27, 2012
Location, price, condition and other options for a buyer at any given time will determine which is the easier sale. A great location always sells faster.
0 votes Thank Flag Link Mon Dec 17, 2012
Location and price point will always be the deciding factor if a house or condo will sell first. There are other issues as the agents have said before. So are you thinking about a house or condo in Portland I can assist you. Tom Inglesby
0 votes Thank Flag Link Wed Sep 26, 2012
It's location, location, location! Like politics, all real estate is local. The marketing of condos is often different and more specialized because you don't have a yard sign and the marketing is nearly all internet-based now. A good local real estate broker will be able to tell you at which price a condo will sell and how long it should take given current market conditions.

In my market in Portland, Oregon it's much easier to sell condos than single family homes.
0 votes Thank Flag Link Mon Aug 27, 2012
You also have to consider the overall financial health of the HOA to which the condo belongs. Far too often today HOA's are involved in litigations that can cost each member thousands of dollars. It pays to do your homework.
0 votes Thank Flag Link Mon Aug 20, 2012
that's a tough one to answer here... I would agree with Marcus in my area too, but it depends on so many factors! a condo downtown in my market is very sellable, where the exact same place could sit on the market in the suburbs. Price range... a $400k condo overlooking the river will sell immediately, where a $400k converted apartment near a university may be very tough. Then there's the HOA... how much is it? is it worth paying when compared with a home in the same range, since it will be a higher monthly outlay? these are just a few of the many, many considerations. So its very dependent on where you're buying the condo, and what market its appealing to, whether its a first-time buyer type of area, urban dwellers looking for simpler maintenance, a student or ? If you're asking because you're considering a purchase and you're looking forward to resale, a Realtor that knows your area and can give you the comparisons specific to that location and market, would be the best place to start!
My best to you...
Marge
0 votes Thank Flag Link Sun Aug 19, 2012
In my market, it is harder to sell a condo than a detached single family home but your market may be different. One thing that is universal is that getting financing on a condo can be more difficult. Lenders have more stringent regulations regarding the property development or Horizontal Property Regime (HPR). The HPR must meet certain construction standards and have a certain percentage of owner occupied units (normally must be 50%).
0 votes Thank Flag Link Sun Aug 19, 2012
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