Property Q&A in Santa Fe>Question Details

Sheryl, Home Buyer in Fenner, NY

Why are there so many condos for sale at San Mateo de Santa Fe?

Asked by Sheryl, Fenner, NY Wed Aug 12, 2009

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Sheryl, you've received some good responses. People sell properties for all kinds of reasons - whether it's the developer selling new inventory, investors who got upside down and are trying to unload or, as in the case of my clients, folks whose family situation has changed so they have to find a larger place.
If you were asking your question because perhaps you thought there was something wrong with San Mateo de Santa Fe, I do not believe there is. The quality of the units and the grounds and clubhouse/swimming pool all look to be very good, and in my conversations with several owners all expressed how much they liked living there. So, at least in that regard, it appears you can rest assured....
0 votes Thank Flag Link Wed Aug 12, 2009
The San Mateo Condo as stated in the past two anwsers were formerly apartments which when converted to condo were stripped to the studs and remodeled. They have new Bosch appliances and were quite well done. There were also new sections added to the complex which is also a reason you have seen so many on the market. Many of the units were purchased when they were first announced as investments and some of those are now being put back into the market.
The amenities, price, and the central location make the units a wonderful deal.
0 votes Thank Flag Link Wed Aug 12, 2009
San Mateo de Santa Fe is a very nice condo complex, virtually brand new since the "studs out" renovation project a few years ago, and it surprises me that there are quite a few condos for sale at this time. Having a listing there myself, I've seen other units, the grounds and the clubhouse and came away impressed with how much you can buy for that price point. Many units are priced well below what the owners paid for them and the deals are pretty amazing.
Fact is, the condo market in Santa Fe (and elsewhere as well) is very soft; it's not limited to San Mateo. One possible reason is that lenders have tightened requirements for mortgage loans on condos. The current time may be a golden opportunity to invest in (for rental or personal use) a Santa Fe condo.
0 votes Thank Flag Link Wed Aug 12, 2009
Hi Sheryl,

There are 16 condos for sale and two townhomes for sale in San Mateo. The HOA is $200/per month which covers Community area, Exterior Bldg.& Roof Maint., Insurance and Security. There is a $400/transfer fee when it is sold. I have noticed that there are a lot of condos for sale in SF and the HOA is more than $200/per month. Let me know if I may be of further assistance to you with your real estate needs.
0 votes Thank Flag Link Wed Aug 12, 2009
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