I have looked up your property information and noticed that you have recently purchased this in 2006. Without looking at your current upgrades it is difficult to put an actual price on the value of your home. There isn't much activity in your complex. The last sold unit was in June of 2006. With those numbers the value is approximately $166,000. Of course we have a steady decline in the prices of Homes this year. To get a true value opinion someone really needs to look at your home and give you hard numbers. It's a free service I provide with no obligation. Please check out the numbers yourself at the link below. If you have any other questions please don't hesitate to call.
The last sale in the complex was September of 2006.
699 Sq Ft plus $150 a month HOA. My opinion, the current value would be closer 125K to130K.
Selling at 130K, 20% down 6.25% 30 year P&I, HOA. Minimum monthly payment is $850, and you still need the 26K to put down.
You have a fair location, Indian School and 51.
What do you think your Condo would rent for?
What an Investor can rent it for really dictates price.
Added with the fact that we are in the mother of all buyers markets. The buyers who were originally looking for condos are now looking for Townhouses, and the Townhouses are looking for Single family homes.
Most probably the buyer for your condo will be buying the payment.
I just pulled up a sold comp
6819 N 12TH ST 24 Phoenix 85014
CLose of Escrow 10/18/07
List Price $115,000 Sold Price $108,000
I would love to give you more details. Please feel free to contact me with any questions you may have
Have a great day and Best of Luck!~