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Market Conditions in 20187 : Real Estate Advice

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Cindy Jones, Real Estate Pro in Alexandira, VA
Thu Jan 24, 2008
Cindy Jones answered:
Don's information on doing the math to look at pricing is good but you also need to look carefully at the condo building and assocation as well before you make an offer. What is the financial situation of the assocation. Look over the condo documents VERY carefully and make sure that there are enough reserves in the acounts to cover any major repairs needed for the building. How much has the condo fee gone up per year over the life of the building? Also check to see the owner occupany rate vs investors. If there are to many investors you may not be able to get financing or the best financing. ... more
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