This is a condominium in Boca Grove Country Club, it is not a co-op. Currently this
Boca Raton condo is off the market.
There are numerous condos available in Boca Grove if you are looking for a country club lifestyle. This will entail an upfront equity payment, of about $80,000, (this is paid in cash at closing, it cannot be put into a mortgage) and yearly club dues of around $15,000 - $20,000.
The reason for this Boca Raton condo's inexpensive price is because it is in a Boca Raton country club. Every country club in Boca, and just about everywhere else in the area, is suffering from a lack of buyers.
In today's economy, very few people are interested in paying, or able to afford to pay, the equity fees and yearly country club dues. As a result, there is a glut of great looking condos and single family homes available within every single Boca Raton country club.
A rule of thumb is that if you find a single family home or condo that looks wonderful, has everything you could want in it, and is selling for a price that is well under the rest of the market for comparable homes, then you're looking in a country club home.
However, if you are not looking for a country club lifestyle, and you are not interested in paying the equity fees and club dues, then you will need to considerably raise your price expectations to at least double, and more likely, triple the cost you're seeing for these country club properties.
Marc Jablon, The Jablon Team
RE/MAX Complete Solutions