Home Buying in 89115>Question Details

Rodger, Home Buyer in Canada, KY

When a condo in the area of Craig Road villas is selling for $35 per foot in good shape. How much real risk?

Asked by Rodger, Canada, KY Sat Feb 28, 2009

could their be in next six months with uncertanity in market. I read in your articles under $90 is good value. $35 could drop to $30 short term before going back up ? I would like to hear your thoughts

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2
Can any one provide an update opinion as to what's happening at this complex. It seems like prices have continue to drop since the original post last year.
0 votes Thank Flag Link Fri Dec 24, 2010
Rodger,

If you can really purchase for that price I do not see how you could go wrong. I did a quick search and came up with five condo's in that area that are price at $40 per sq foot or less. I searched the closed transactions and nothing has recorded for under $40 per sq foot in that area.

I think it is a slam dunk if you can get an offer accepted. Please keep in mind if the property you are thinking of making the offer on is a short sale the Bank will probably not agree to accept an offer that low if there are no recorded sales close to that price.

Let me know if you need any further assistance.

Ron Johnson
Elite Realty
702-595-9743
0 votes Thank Flag Link Mon Mar 2, 2009
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