Not to pile on too much so I’ll start out with the positive. It seems like a nice starter condo in a decent area. That means its sell-able. The colors are odd, but repainting doesn’t cost that much.
What bothers me is the price. That condo is a decent starter condo for a family. Nothing fancy but like I said you can live in it. Its priced though for the income of someone or two people who collectively make about 125k. How many people, make that? How many couples make that? Isn’t the median household income around 70k at this point? If you made 125k would you feel it reasonable to buy that condo? Remember the boom is over. Nobody looks at that as a path to riches. Its now a place to live.
With credit getting tighter (though it seems temporarily loosened) its going to get harder to sell. Why then has your friend not followed Jim the Realtors advice, “if you have showings but no offers, its overpriced.”
