Friday, October 27, 2006

Copy my good deal?

Would it be a good idea if I bought a condo that was below market rate? Cause some of these are being offered through the Mayor's Office of Housing and are income restricted. Deal or no deal?

4 Comments:

Blogger Liz Stanley said...

deal!

5:43 PM  
Blogger michelle said...

no deal. look at the neighborhood...

6:17 PM  
Anonymous Anonymous said...

You have to be careful with condos. If a certain percentage (I'm not sure the exact amount) are being rented out (instead of the owner living there) the bank won't finance a loan to a potential buyer should you want to sell it in the future. Therefore, if you want to move someday you could be stuck with a condo that you could only sell to someone who has cash (which is hardly anyone.) Also, as Michelle said, you have to be careful about the neighborhood. I know how much you love San Francisco, but it's just soooo expensive for what you get. Are you still thinking of moving to Salt Lake City?

7:05 PM  
Blogger liz said...

come to the east bay! you can go condo shopping with me and we can look at 600 square feet condos for over a half million, it will be loads of fun.

some days UT or AZ doesn't look so bad anymore. ok maybe UT does, but not if it's at the base of a mountain!

9:09 AM  

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