Can’t emphasize enough HOA health. If people default and stop paying HOA fees, other owners will get special assessments and have to pick up the bill.
As far as condos, I would think UTC would hold value a little better than Clairemont. Yet here is a bank owned 7244 Shoreline 140 2/2 997sf w/a garage for $328,884, which in 2004 sold for 485k.
This other bank owned 7204 Shoreline 160 listed for 348k went pending which in 2004 also sold for 485k.
These are nice places in a nice area. I’d be very hesitant to buy Balboa Ridge for 315k, especially when just about everyone agrees we are not at bottom and surely there will be more depreciation.
I haven’t done the math on what the difference in price is monthly on Balboa vs. Capri.
