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S, Both Buyer and Seller in 78704

Why are there all of a sudden so many units for sale in this particular condo? Is there a management problem?

Asked by S, 78704 Tue Feb 10, 2009

Particularly, I'd like to know of there had been very bad experiences by tenants, or high HOA fees, utilities cost, security problems, that attributed to this rise in available units. Thanks!

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This question is about this property: http://www.trulia.com/property/1070119197-1801-Lavaca-St-10L…

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It may seem like "all of a sudden", but of the 7 units I found as either active for sale (5) or under contract (2) the average days on market was 80 for the actives and 153 for the 2 under contract.

I don't know of any particular problem with the HOA, utilities are included in the HOA fees. Reported HOA fees are $238/month for an 460 SF efficiency to $1,105/month for a 2 bdrm, 2,251 SF unit (which was reported as sold in Oct. after more than 200 days on the market). No reported special assessments, although at this age (1964), you might expect some costs.

Let me know if you would like more information and I'll check into it.
0 votes Thank Flag Link Wed Feb 11, 2009
There's regular turnover in Austin.
I've never liked HOA fees that include utilities including electric. That just means they are ripe for abuse and then everyone shares the pain. Do you think people turn off AC in the summer when the kids are gone? This building has a great location near UT and capital area, but there are perhaps better buys.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Wed Feb 11, 2009
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
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S.
Could be that this condominium is so close to the UT campus that people who bought for their kids are now selling. Also, the condo has been around for a while and people get older. This just may just be a good time to move on.
I have sold condos in the campus area for over 11 years, so you are always seeing a lot of movement.
Hope this helps.
Jeff
0 votes Thank Flag Link Wed Feb 11, 2009
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