Unfortunetly, right now is not a good time to sell and make any profit what so ever on your condo. The market conditions are the worst they have been in years. What will work in a market like this is a program called Rent2Own. Because most of the general population these days cannot qualify for a mortgage, people are looking at other avenues. Rent2Own has become so popular that I have done over 280 Rent2Own homes in 15 months with credit repair. Sellers get their mortgage payment via the rent and buyers move into a new home and get credit repair.

Thu Jul 17 2008, 05:56

This is a great time to buy. There is allot of inventory on the market, with is causing the prices to decrease. Be very aware of HOA's what they cover, and their current financial status. Also loan requirements, down payment amounts, and buyers programs are changing on a daily basis. A Realtor can guide through the process, to make the best choice for you.

Tue Apr 22 2008, 10:33

It depends on location, age, features, price and size. (Other agents insert "No duh Dave-tell us something useful" here)

Since this post in October I've showed, listed and sold several 2 bedroom condos here in Castle Rock. The ones that are selling are the ones that show AMAZING, priced COMPETITIVELY and have some unique feature buyer's can't find elsewhere in the price range. Example: My listing in BlackFeather (Black Feather Condominiums just South of Wal-Mart on Front St.) has a one car garage. I sold it quickly once we priced it comparable to similar listings WITHOUT a garage. You've got to stand out from the crowd.

I find today's market (Spring 2008) at least here in Castle Rock, looks promising. Showings on my listings are rapidly picking up. 6 showings on one listing in 5 days- WITH NO PRICE REDUCTION- that's pretty good compared to just a month ago, when the same listing had 2 showings in 3 months.

Anyone on the "listing fence", I'd say now is a great time to test the waters if:

1.) You can price your condo fairly. (If you owe more than it's worth- forget about it. Sit on it until what you owe is less that what it's worth)
2.) Your willing to make the necessary preparations for showings. (Like having it professionaly cleaned, all the little repairs completed -you know what they are- and finally consider professional staging.)
3.) You've got something unique not found elsewhere for the money. (Granite counter tops, stainless appliances, alarm system etc.)

David Elson
Metro Brokers DTC
Castle Rock CO
303.745.5555

Fri Apr 11 2008, 17:11

Victor: It is a GREAT time to buy-- not a good time to sell. I would hold onto your condo--- and rent it out.
For Market Conditions-- and to see what condos have sold for in your area and for what------sign up at FindingTheHome.com. Click on Market Snapshot-- and receive your free report within mintues.
Kathryn Carlson, Licensed Real Estate Broker Owner ,
Bachelor of Science, Realtor, Accredited. Luxury Home Specialist, e-Pro Certified
Memberships: National Association of Realtors,
Colorado Association of Realtors, Denver Board of Realtors, Council of Residential Specialists,
Council of Luxury Home Specialists, Colorado Mortgage Holding Company, Licensed HUD Broker, Denver Metrolist
Homes and Lifestyles of Colorado
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Fri Apr 11 2008, 13:46

Victor - I am a new member to Trulia Voices so did not see this question when you posted it - however, this may be helpful info for you.

Castle Rock currently (1/1/08) has 8 condos or townhomes available for sale with the following characteristics: 2 bedroom, 2 bath, 900-1200 square feet and priced between $129k - $170k. 5 of the 8 are under $140k. There are 2 condos/townhomes currently under contract (list price $124,500 - $132,000).

In the 3 months of Oct-Dec '07, there were a total of 5 condos/townhomes that sold (with similar characteristics) with selling prices between $105,000 -$142,000. In the 3 months of July-Sept '07, there were none that sold....so activity has picked up but if you want to sell, you probably have to be very aggressive with your pricing.

Additional good news is that in this price range, it is almost impossible to find a single family home so first time Buyers (who do not have a home to sell!!!!) and cannot afford to buy at the $200,000 level do not have much to choose from in Castle Rock other than condos or town homes.

As a 20 year resident of the Castle Rock area, I could definitely help you stay informed about the market- feel free to contact me if that would be helpful.

Tue Jan 1 2008, 12:40

There has been a surge of buyers comming my way the last week or two. It may be a good time ti hit the market. Do you have a two story?

Thu Nov 29 2007, 20:51

I have a few buyers in Castle Rock Now looking and it is an OK time to list if the home is nice and priced right. Exposure is a key as well. Contact us if you want it sold.

Thu Nov 1 2007, 23:19

In general terms we are in a buyers market in the region, but this does not mean properties are not selling. We just have an over abundance of supply. Properties are sitting a little longer than a year ago, but prices aren't depreciating.
Have a local expert Realtor assess your specific market. Talk about the comps and determine if this is the best time for you to sell.
Don't base your decision off of the national media reports; every local market is different.
Best of luck,
Susan Walker

Tue Oct 30 2007, 12:51

The holiday season is typically slow in any market area. Generally speaking, if you have to sell, then list it asap. Otherwise, wait until early next year if you can.

Tue Oct 30 2007, 12:50