Quote:
|
I'm surprised to hear that condos are a harder resell in Seattle.
|
They are selling but took a bigger hit on value than single family homes did. A lot of owners are upside down right now, many buildings have a high percentage of rental properties, many of those rentals are illegal per the HOA agreement meaning the building limits them but owners get desperate and rent anyway because they won't sell and lose $100k. The high number of rentals impacts market value. It's a nasty cycle. I just would never buy a condo having seen these issues through friends happen over and over. Too much is outside of your control.
__________________
Jerry
1983 911 SC/Carrera Franken car, 1974 914 Bumblebee, 1970 914-4, 1999 323ti
|