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Are the Condo Coversions in Your Town Going to Sell?
invite response
2005 Dec 1, 2:21am 20,329 views 70 comments
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70
Jamie
2005 Dec 5, 2:39pm
Huh? What? My skimming skills must be slipping. Where is the frothing at the mouth spittle flecked conspiracy theorist rant? Did it get deleted? Damn.
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The developer's answer to the stratospheric rise in home prices seems to have become the condo conversion. What that usually means is taking a crappy apartment building, throwing a new coat of paint on it, maybe knocking out a few walls and throwing in an appliance or two and calling it a condo.
Do you know of any in your neighborhood? If so, how do they look? What do you think are the long term prospects for the condo conversions? I have heard in the past of condo conversions being turned back into apartment buildings when the market cools. Do you think that will happen again?
And what about pricing? How much are the crappy condo's going for in your neck of the woods? How far down do you think they will go in value?
And one last thing, do you think taking the apartments off the market will affect rents at all?
Per tannenbaum's request