Is it a good time to buy? Yes! A condo as an investment property? Depends. If you can find a turnkey condo at a super price, then go for it, however assuming that you will finance a portion of the purchase price, take in to consideration that it may take a while to find a tenant and you will have to carry the mortgage and the monthly HOA dues until the unit is rented. Do your homework in comparing the prices of the homes in the area. It may be better to buy a single family property than a condo or townhouse if it fits within your budget. This is because many renters in the area are former homeowners that have lost their homes due to the foreclosure process; They are seeking to rent single family homes to accomodate their families.
BTW, As of today (5/23) at 6:25pm, there are 75 condos on the market in Antioch alone listed under $200,000. Their HOAs range from $100-$320 a month. That's just a snapshot of what is out there. If you are interested in checking out some of these properties, go to our site and log-in...it's free. If you want more stats, then shoot us an email.
The Jefferson Team