| Porsche-O-Phile |
02-17-2007 03:22 PM |
Quote:
Originally posted by craigster59
I thought you were going to say you put a down payment on a house..
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Nah, looked at two more places today but my impression of both was that they were (still) overpriced. Both 2BR condos in decent areas with a garage but both asking $330k+. One in particular was laughably overpriced (filthy condition, crappy mis-matched colors on the 1950s/1960s-era fixtures and an obviously uncaring previous owner). The other one wasn't too bad, but I still think $330k was way out-of-whack for what it was (about 10% over-priced). I suspect the "messy" one had been rented for years and the renters obviously didn't give a damn about the place (looked like it had been through a lot) and the landlord was cheap about putting money into it, now trying to bail out and take what he can get by doing a "condo conversion" on it.
It was kind of funny, since there was a "for rent" sign in the window asking for $1,500/mo and nobody was obviously biting on that (don't know how long the sign had been up for, but it looked like it had been vacant a while). If they can't get $1,500/mo in RENT, why the eff should I pay $2k/mo. on a mortgage for the same place? It'd be an opportunity for doing a nice remodel on the interior, but given how the market is going (dipping), I suspect that might end up being a waste of effort/money that'd be difficult to recoup. Some people obviously think it's still 2003. We might offer $285k or so just to see if there's any interest in a back-and-forth on 'em but we'll see. . .
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