What do you think about owning or investing in Condominiums?  Are they being over built in the metropolitan cities?  Is Suburbia ready for Mid to High rises across the street from the community parks? Are some truly worth $1000 a sq-ft?  What do you think is the future of for the Condo market? I have so many questions that I would like to hear from you the owners or investors and as professionals in the real estate industry advise on this topic.

Investing in Condominium has changed for me from when I 1st bought a Pre-construction in 2002 in Portland OR and then sold it in less then 90 days.  Then it was Vancouver BC from there Miami, Seattle, & then back to Portland.  Since 2002 to now the condo pre-construction deals were and still are very profitable.  But will the demand for condo ownership still be here & in the years to come? I would like to continue to invest in them but I hear from others that it's saturated in areas like SanDiego where you can now purchase a new 1 bedroom a block away from the beach today at $250,000 sold 2 years ago at $450,000.  Or Boca Raton where there's still siting vacant and have been on the Market for more then 360 days.  But yet Seattle and Portland condos are still selling their pre-construction.  So where is it HOT today?

 

 

 

4 Comments on Real Estate Condo Market Hot or Not?

MAY
01
2007
140,488 Points 14 Featured Posts Localism Sponsor Outside Blog
I don't know where it's hot, but there is such a huge contingent of people entering the condo age that it would seem prudent to buy, if possible, just about anywhere (but especially the places where they are hard hit right now)...
8:51pm • #1
Everyone seems to want new, especially when it comes to condos.  With so many houses in foreclosure here, I don't see a market for them other than investment/rental.
8:55pm • #2
2 Featured Posts
From folks I know on the east coast, I'm hearing NOT. Hopefully that is changing though...
9:23pm • #3
MAY
09
2007
Seattle:  people want to live right in this vibrant city, near work, near the water, near culture.  The buildings and towers keep going up (see Belltown), apartments as well as former commercial sites are being converted into condos, and the trend doesn't seem like it will trail off much anytime soon.  Prices haven't trailed off much either.
7:37pm • #4

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