I big worry form me buying a condo would be the future or current ability of buyers to get loans to buy in the condo project. Many condo project prices in San Diego are getting depressed big time b/c you literally can not get financing on then. The ONLY choice buyers have is to pay cash. What do you think cash only buyers in your project will do the value of your condo?
The problem is when condo’s go below 51% owner occupancy (lots of rentals) or have other problems, and FHA, VA or conventional lenders will literally NOT lend on them period. In Florida there are a lot of buildings that are cash only right now and prices are plummeting.
These are things outside of your control as a condo owner, and they would scare me.
