Property Q&A in Portland>Question Details

sarah.finefr…, Home Buyer in Portland, OR

I see a dryer is included. Is there a washer? And please clarify, is the lawn shared? What floor is the condo on? Parking near condo?

Asked by sarah.finefrock, Portland, OR Mon Mar 26, 2012

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Sarah, contact Tom. Sounds like he has the background on this place. Even though I asked for your business---I still think condos are a bad way to spend money.
0 votes Thank Flag Link Tue Mar 27, 2012
This condo is a converted apt that was built in the 80's and converted in the early 2000's. They all have stacked washers and dryers in a closet. I had a listing in there a couple of years ago and there was this on going pending law suit over the man made decks and walk way and pool deck and it finally went to into a law suit since they were trying for about 3 years to keep it out of the lawsuit so sellers could still sell but now there is a hold on all of them. There is no grass in the complex just walk ways and flower beds and the driveways. The condos have large covered open carport with spaces so small you cannot get out of your car if the person next to you parked with in 6 inches of the line. Anyone can walk thru the covered carport and many condos have only surface parking. Unless you are paying cash a lender will not loan on any place where there is a law suit. Any HOA monthly payment will take up to $50,000-$60,000 in buying power away from you. So if you were looking at something else the payment would be lower but you must qualify with the HOA included in your payment qualification. In Portland this is a great location since you are right on the water by the Pearl in NW Portland where all the towers of condos are but you probably looked at the prices and find 1 bedrooms are twice the price so this looked good. There are some condos on the water that have grass around the complex. Let me know if you would like some information on those? I am an accredited buyers agent so let me know how I can help you?

Tom Inglesby
ABR, CRS, Green Broker
RE/MAX Equity Group
0 votes Thank Flag Link Mon Mar 26, 2012
I looked up the listing and it does not mention a washer or dryer and it also says its an upper unit but does not mention which level. It does however mention a carport. I can call the agency tomorrow and find out more for you. Do you have an agent that you are working with currently?
If not call me at
Paige One Real Estate
or 360-609-8040.
0 votes Thank Flag Link Mon Mar 26, 2012
It looks like the washer is from the Multiple Listing info. However, it says there is 'pending litigation'. This tells me that either there is a suit of some kind involving the unit or more probably---a suit against or by the home owners association. A big problem with condos and one of the reasons I do not recommend buying one. Thats been my posisitoin for 30 years of sales. Sure, its by the river. If thats a big plus for you then it may be worth the value but in general a regular home can be purchased for that or less. In most condo projects the landscaping is shared, or owned equally by all. Some own the land under them. Depends on the legal setup. Regarding parking and what floor, I didnt look but believe those have a one space carport.. Note the monthly HOA fee is $336 ABOVE your mortgage payment.

If you are set on a river front condo, be sure to hire a BUYERS AGENT who knows condos and how to tell if the HOA (Home Owners Association) is healthy. Also if the project can be financed---as lenders have certain requirements, especially in these troubled times of dropping values. I am a 'buyers broker' and am happy to help you. You deserve my experience---I deserve your business.
0 votes Thank Flag Link Mon Mar 26, 2012
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