Thread Drift

[Trek420]

It could be regional, here we have large numbers of unoccupied condos so their value has plummeted.

It is nationwide. It might be better or worse in some areas but nationwide.

IMHO condo values have plummeted and are sitting vacant in part because the entry level market now is a single family home.

Why would you pay HOA fees when you can get a single family home for the cost of a car? Do you really hate mowing the lawn that much?

I bought very low for the market at the time.

No matter how fairly I'd price my recently remodeled condo even if a buyer wants my condo (for the location, bikeable to BART, AMTRAC, trains, farm markets, indie coffeeeee, shopping, Bay trail, lots of green space to walk the doggeee, walkable to schools ...) I am being undercut by short sales and repos.

Thing is short sales and repos are sold as is; no inspection, gaurantees and often in pi$$ poor shape. But if you have the cash and construction skills to fix them up, replace the fixtures, appliances, counters and lights distressed desperate sellers rip out to sell when they leave (go tour a repo open house ) you can snap them up, fix and rent it out.

You'll need both, the cash and skills because banks are not lending. Therefore Pax's brothers neighbor, the investor with lots of ready cash to snap up deals in good or good enough shape to rent it out? That's the norm. America is for sale my friends.

Nothing's selling, nobody is flipping except me, I'm flipping out. But if anyone on TETD wants to rent a beautiful bikeable condo in the Bay area let me know.