RDeNiro– Nobody can say for sure, of course, but I’d say you made the right decision unless you wanted to hold on to the place for years.
From the sound of it, I’d say your place was one of those Bellarado/Cortina units and you’ll be glad that you got out of there. There are (albeit small) SFRs selling in that area for right at $600K. It’s only a matter of time before those are in the fives and that just puts more downward pressure on those condos. I also think there are a lot of speculators in there based on the number of rentals I’ve seen come up over the past year.
I’d also say that at $519, you did pretty well for yourself based on recent comps. There does seem to be one that went for $580, but that must have been sold to a complete idiot (or somebody willing to pay a premium for no grass).
Again, time will tell, but I don’t think you’ll regret it. The headline might say the bottom is here, but the article says otherwise.
