Realize that a condo conversion is just an apartment with a legal deed that allows it to be sold individually.

The converter isn’t going to upgrade electrical, plumbing, insulation, etc.

Why anyone would pay good money to own an apartment that has had a cosmetic makeover boggles my mind.

Save your money. Plan on buying a single-family house in 2009 or 2010. I expect to be buying entry-level houses for less than people are currently paying for condo conversions.