As supply continues to shrink and sellers hold on to the bargaining power, condo
buyers can expect competition to remain fierce.
Getting a mortgage on a condo
can be slightly more difficult than getting a mortgage on a traditional single-family property," says Erin Lantz, vice president of mortgages at Zillow, Seattle.
The wave of acquisitions of apartment communities by condo
converters is over," Fasulo said.
If no designation has been fried with the CRA, the CRA will deem the couple to have designated the condo
to be their principal residence.
These risks may be exacerbated when owners are away, especially where condos
and co-ops are purchased as seasonal residences.
First, as mortgage rates continue to rise and the single-family housing market slows, so will condo
sales, resulting in more properties being delivered as rentals than the market is anticipating.
The average price of a condo
in the metropolitan area in the reporting month came to 40.
Thunder Bay's second condo
development, Boulevard Park Place, is a joint effort of Robert Zanette and A.
, selling condos
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ii] The StreetEasy Condo
Price Index (SECPI) provides a measurement for how prices are moving in the Manhattan condo
real estate market.
However, the rate of price growth has been consistently decelerating over the last year, signaling that the condo
market is slowly returning to a more sustainable pace, according to the January 2015 StreetEasy Manhattan Condo
We want to share this information with condo
boards and associations affected by Sandy so that they don't make mistakes as they rebuild.