Bought in towards a high point in 2004. NOW smart enough to get out, hand their problem to a new sucker, I mean buyer. Assuming he's getting his asking, he's taking a hit for closing costs, but doing alright given his unfortunate timing for buy-in.
This is a nice building, btw, nothing wrong with it. I have looked it up and down. Although more and more investors are buying and renting out.
Another piece of info, a 2nd floor corner in the same building sold for a hair under $300K about 3 years ago. So you gotta ask yourself, does a floor up and 3 years on add $200K to a property's value? Or are things getting frothy?
invite response
http://www.redfin.com/CA/San-Mateo/401-S-Norfolk-St-94401/unit-303/home/1005715
Bought in towards a high point in 2004. NOW smart enough to get out, hand their problem to a new sucker, I mean buyer. Assuming he's getting his asking, he's taking a hit for closing costs, but doing alright given his unfortunate timing for buy-in.
This is a nice building, btw, nothing wrong with it. I have looked it up and down. Although more and more investors are buying and renting out.
Another piece of info, a 2nd floor corner in the same building sold for a hair under $300K about 3 years ago. So you gotta ask yourself, does a floor up and 3 years on add $200K to a property's value? Or are things getting frothy?