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Resale Value 1 Bedroom Condo All Locations : Nationwide Real Estate Advice

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Activity 207
Showing results for Resale Value 1 Bedroom Condo [Clear search]
Sun Aug 6, 2017
Mike Hart answered:
I wouldn't call you insane, even if you were. :)

I just wonder if the things you hate about the house could be changed or corrected.

What is it that you hate about the house?

It seems like you would probably be taking a bit of a loss to sell a house immediately after purchasing it, but if your happiness can be achieved by doing so, that does not seem insane. It seems more insane to stay in a house which you hate so much it makes you cry! ... more
0 votes 63 answers Share Flag
Thu Jul 23, 2009
Dakota Riley answered:
Hi Amy,
I work with a lot of First time buyers here on the south shore. Is the south shore a place of interest for you? I have a strong team and work closely with mortgage brokers who also specialize with first time buyers and know of all the programs out there. Please feel free to contact me at dakota@chaseteam.com so that I can assist you with any questions you may have. ... more
0 votes 8 answers Share Flag
Tue Jan 5, 2010
Jason Chapin answered:
Hi Shillafm,

Historically, our seasonal high months are May and June. However, this year has continued to improve through July as well. Generally speaking, though, total volume increases from March to June's peak. Things cool off in August, but generally swing back up a bit in September and October. As you probably know, market activity slows dramatically through the holidays.

Hope that helps!

Jason Chapin
McGuire Urban Bay
415-420-1143
jchapin@mcguire.com
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0 votes 8 answers Share Flag
Mon Oct 17, 2011
Sellin' With CC Team answered:
I think your husband would be surprised at how much you could afford with todays prices and interest rates.Besides it should be about affordability. He and you should look at the actual costs and if your payments would be comfortable to you. To get the best rates most lenders are requiring a 680 cedit score and your debt below 30% of the limit. But for FHA most can qualify with a 640 credit score. The rates and guidleines change all the time, so it is good to know where you are currently and what you can afford. I am writing a contract today for $85,000 condo. I just sold a short sale in Orange Park, 1800 sq ft for $117,000. Your payments will most likely be lower than what you are renting for. Also, in Real Estate you make your money when you buy. This home does not have to be your dream home. It needs to be a good starter home without many propblem that you can grow equity. So when you life changes in 5 years or whenever you will have equity in the home so you can upgrade. That is exactly what I am doing. I bought a townhouse and just married with baby on the way. We are happy and payments are low. We know in a few years we will need a bigger house and will be able to afford it because of the equity. It never hurts to look. Good luck. ... more
0 votes 20 answers Share Flag
Sun Jun 28, 2009
El Brant answered:
I have not seen any value differences between bathroom with a tub only vs shower only, either way it is a full bath. Could it cost you a sale two years from now? If the purchaser is one of those "calgone take me away" types, possibly. If they are die-hard shower only people, it could tilt the sale to your side. I would suggest that you redesign the bath the way you want it to be and focus more on the quality of the remodel than "what-if's". ... more
0 votes 5 answers Share Flag
Sat Jun 27, 2009
Fred Griffin answered:
I am not a Lawyer and cannot give Legal Advice,

but would suggest that All Parties
(Buyer, Seller, Lender, Real Estate Agents, etc.)
SIGN an acknowledgment that it is a One-Car Garage,
and not a Two-Car Garage as stated.

Even though it should be obvious to anyone looking at the garage,
this may be mis-representation.

(Where was it stated?

In an advertisement, in the MLS?

Is a Listing Real Estate Agent involved?)

Again, get all parties to acknowledge that it is a One-Car Garage.

GET A LAWYER if necessary.
---------------

As far as "Selling it Later", check Market Statistics for the neighborhood and the area.
What do other similar comparable townhouses have?

Do two-car Garage townhouses sell for more money?
Do they sell faster or "easier"?

Get the local market data.
A licensed certified registered Appraiser may be able to advise.

-
Best wishes,
Fred
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0 votes 7 answers Share Flag
Wed Mar 28, 2012
Jason Chapin answered:
Hi Jerry,

The two locations are so different, this is a tough choice. Mission Bay is going to continue to grow and evolve. On the plus side you have the promise of 10,000+ new jobs in stem cell research, biotech and medicine over the coming ten years. All of those people will need a place to live. That location isn't too far outside the part of Soma and South Beach that offer nice restaurants, convenient access to grocery stores and night life et cetera. The waterfront is being developed, too, to become nicer for evening walks.

The downside to that location is that there aren't a lot of residential buildings down there and most of the planned development is commercial. I have a feeling that area will feel more like Emeryville than San Francisco when it's all said and done. It's hard to know yet, but I wouldn't be surprised if the area swells with people by day and then feels a little vacant in the evening and during weekends.

18th and Dolores, on the other hand, is very well established. I think that will be an attractive location for people for decades to come. If you're in a two unit building you probably own a Victorian/Edwardian style unit, which is also really popular. By the way, I am working with several buyers who really love that area and need a 2/1. If you do decide to list, I'd love to take a look...

I think this all boils down to which location will best provide the lifestyle you're seeking. Will more space and being by the waterfront trump the walkability and charm of Mission Dolores?

Interesting question you raise - good luck!

Jason Chapin
415-420-1143
... more
0 votes 13 answers Share Flag
Mon May 3, 2010
Raphael White answered:
Hi, my name is Raphael, I'm with the Osborn Team ( Althea Osborn) Keller Williams in Austin, Texas (you can google us) ( also ignore the San Antonio address, I take it trulia doesn't have austin group?). It's a great time to buy & your son will receive the 8,000 tax credit if you purchase before dec 09. Rentals are in high demand in the UT area. If you choose area carefully & buy right it will be a great investment for years to come. There are many new projects in the works in the UT area, so you need to be careful were you purchase for future resale. Sorry response is so short, it's been a busy day in real estate today & I'm beat. If you have sometime to chat, I can educate you on UT area real estate. I would like to help you with your son's property, my email is raphaelwhite@kw.com.

Nite,
Raphael
... more
0 votes 14 answers Share Flag
Tue Sep 29, 2009
Jane Grant answered:
Pat, Perhaps you meant one Bedroom? I am thinking that you are possibly asking this question because at the time there are only 1 bedroom/1 bathroom condominiums in your price range.

If this is the case then seek out the advice from a tax consultant. Sometimes renting can be a better tax advantage for you until you can afford something larger.


One bedroom, one bath condominiums do offer less in the way of resale value because there is a higher demand of two and three bedroom condominiums.


On the other hand if you need the tax advantages of purchasing and you want to keep your payments low then purchasing a small place may be alright for you.

It is always best to seek out advice from your tax accountant when deciding "If" you should buy.

Real Estate Agents can help you find out "what", to buy in your price range but offering any kind of legal advice or tax advice is better sought out by tax and legal consultants.

I have a tax consultant that I use here in Temecula, Fred Karma owner of Financial Accounting, but if you need one in Palm Springs then ask one of the local Realtors there in your area for a reference.

Good luck to you!
... more
0 votes 5 answers Share Flag
Sun Apr 26, 2009
Megan Manly answered:
Currently, you have 67 options within a five mile radius of Belmont's campus. The campus is centered to the city relatively well; so, you'll have options but not all are 3 BR/2 BA. First let me give you the numbers of ALL the properties.

17 single family homes are available at that price. The remainder are condos. On single home side, you have options in Area 3 near Charlotte and in Area 2 in the Music Row/Edgehill area. The condos include local favorites like BeechTree, The Park at Melrose and several Villager properties.

Geographically, your options closest to Belmont are (1) a condo at the Albemarle which is ALMOST ON campus with 500 sq ft; (2) a three bedroom single family home in Edgehill a short biking distance; and (3) two condos at The Villager in Hillsboro Village.

If you must have a three bedroom/two bath residence, no condos meet the requirements, however eight homes do. Two of them currently are under contract; so, that leaves six options. One is near the Fairgrounds, one is near Music Row and the other four are in the area off of Charlotte.

The good news is you have options at your price point. It's just a matter of what you are willing to give-on to get the perfect place for you.
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0 votes 6 answers Share Flag
Fri Apr 24, 2009
Evan Kane answered:
I have never walked into a house with painted brick were my buyers did not ask me "why would anyone paint brick." Additionally, it's not good for the brick.
0 votes 10 answers Share Flag
Mon Apr 20, 2009
The Medford Team answered:
PS:

While prices in Rivermark are currently higher than Ardenwood, Ardenwood prices, especially in the Forest Park area are actually seeing increases. This is in contrast to Rivermark. This trend, although down lightly in March, was up for the 4 previous months. However, if you are buying for the schools, be advised that buying in Ardenwood is no guarantee your children will get into the schools right away.

http://www.trulia.com/blog/carl_medford/2009/03/market_trends_snapshot_f
... more
0 votes 10 answers Share Flag
Tue May 5, 2009
Roland Barcos answered:
Hi Chewy - Man, this is an easy one. You just answered your own question. Have a great day.

Roland
0 votes 4 answers Share Flag
Fri Apr 3, 2009
Mark Hammond answered:
Mon Aug 8, 2011
Firenze@Sorrento answered:
The Terraces is a great community for young families and retirees. I have a handful of friends who live in the community, and they are all generally happy living at the Terraces. It remains one of the best looking high-density condominium projects in the area. We seriously considered the Arona floorplan at its peak price of $612K back in April 2006, but we ultimately bought in Sorrento.

Before you pull the trigger, you may want to consider a few things:

1. Many units are occupied by renters, not home owners. As current economic trend continues, more home owners may opt to turn their homes into rentals;

2. Current HOA assessment is at around $300. It is high because of the number of elevators in this project, which is actually a great selling feature;

3. Certain units at the Terraces are built right on top of the expansion joint. An expansion joint is an assembly designed to absorb the heat-induced expansion and contraction of various construction materials, to absorb vibration, or to allow movement due to ground settlement or earthquakes. When cars drive over these expansion joints, they send vibration upward. I've experienced this building defect for myself, when I visited my friends at the Terraces, and I can confirm that the novelty wears out pretty quickly. I don't know where all the expansion joints are. To make sure the unit you are buying is not adversely affected by this well-documented issue, we recommend that you visit your unit between 5:00PM and 6:00PM on a week night, when many cars will be driving over the joint as people come home;

4. If you are considering buying in building 7 and 8, please be aware that the units facing West for building 7 will eventually have the back side of Club Sports outside their windows, and the units facing West for building 8 will eventually have a parking garage outside their windows;

5. I heard in one of the buildings, a home owner had a violent outburst and caused a lot of water damage to his unit and the units below. To their credit, Toll and the management company Massingham responded quickly to this crisis. If the unit you are checking out had the damage, Toll should disclose that;

These are just a few things we've heard and experienced for ourselves when we visited. Make sure you speak to multiple home owners in the neighborhood. Again, my friends are happy home owners at the Terraces, but they would say the same thing to prospective home owners, so people can make well-informed decisions for themselves. Good luck.
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0 votes 61 answers Share Flag
Thu Nov 12, 2009
Michael Colvin answered:
Hi Ready to buy
Location is a huge factor, I showed Trinity Lofts on Sunday and they are in a good location 2 bedroom 2 bath 1144 sq ft ish and priced at $189,000 Mangum 506 also a nice location is 1 bd 1 ba and they start at 159,000 ish. now if you are right downtown the price might double. If you would like me to send you some properties just let me know.
Michael
... more
0 votes 6 answers Share Flag
Mon Oct 26, 2009
theBIGstep answered:
As a first time home buyer I would say yes a to your question.....but as I start thinking about things I think home ownership or obtaining such is so much more complicated giving the economy and the times we live now. More than ever, is a time when you really have to educate, research and prepare yourself for what's out there. There is an ever changing world of financial markets. Ideally finding a home would be an experience with all ups and no downs....but with the high rate of banks owning properties and people going for short sale and foreclosures and all of that craziness and just financial question of what the president has instore.... home buying seems much more volatile than ever. Renting takes out alot of factors and basically leave them to someone else who has already made the commitment and everything that comes with such. ... more
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Tue Feb 3, 2009
Patrick Beringer answered:
I'm going to answer part of your question regarding "a good investment." The answer to that depends on you--How much are you looking to spend? How long will you hold onto the property? Where do you want to be? I don't know Eugene very well but if you're looking for a rental, there are some great neighborhoods for this in Seattle--An obvious one is the U District, but also consider Capitol Hill, First Hill, Wallingford, Fremont, Queen Anne, etc. Almost anything can be a "good investment" if you buy and sell with the right combination of price and terms. Figure out what you want to spend, including HOD, taxes, insurance and then factor in vacancy costs and turnover and you'll get a ballpark idea of what kind of price range you should be looking in. ... more
0 votes 8 answers Share Flag
Thu Feb 19, 2009
Debbie Brodie answered:
Thank you for the question. Is is actually a tricky one. The answer changes with the real estate market.

Back in 2000, when home values in Chico started to move up, condos did not increase in value as quickly as the single family homes. They lagged behind as families had easy loan options to afford a larger home.

But, when the supply of SFR became depleted, the condos and townhouses saw a sudden jump in value and caught up with the increases, all in one year. One of my clients purchased a townhouse at the beginning of that year, and made a bundle.

Now that the values are moving down again, there are more affordable single family homes available and the condo market has fewer buyers.

Before buying, be sure to talk to a local Realtor for the latest updates. There are many reasons to choose a townhouse over a single family home, and the important thing is to find the right home for you.
... more
0 votes 11 answers Share Flag
Fri Sep 19, 2014
Alan May answered:
In my opinion, it will lower the value. While most people like a stand-up shower, you would be losing that demographic who loves to take a bath.

Those who like a stand-up shower, can still stand up and shower in a bathtub set up... but those who like a bath, cannot bathe in a stand-up shower enclosure.

If you have more than one bath, then more power to you. If this is the only bath, I strongly recommend leaving a tub.
... more
0 votes 5 answers Share Flag
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