Cashing in on the great condo bust
Great bargains abound, but you have to shop carefully.
By Sarah Max
February 25, 2010
Rooms: 2 bed, 2 bath
Sq. ft.: 1,200
Buyers will face slightly higher interest rates on this condo because the building has a tenant-in-common status. But it's located in a desirable area near Golden Gate Park, and similar properties sold for $625,000 during the boom, says local realtor Anthony Koutsos.
Rooms: 1 bed, 1 bath
Sq. ft.: 670
Within walking distance of shops and restaurants; would have sold for nearly $400,000 a few years ago. Association fees were recently raised to cover renovation costs, but realtor Charlotte Hedge says the hike will be temporary. Bonus: The seller will pay for one year of fees at closing.
Rooms: 2 bed, 4 bath
Sq. ft.: 2,309
The property is one of two unsold units in an otherwise owner-occupied "live work" development; includes space for an office or business on the first floor. "The asking price is $180,000 less than its preconstruction price two years ago," says Denver realtor Michael Kearns.
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