$699k is good price. I wonder what the final price will be though….
I hope I’m not being unfair with my comment, but my personal preference, I wasn’t a big fan with this complex. I recall this complex very well. We looked in this area back in 2004. A lot of people for some reason were infactuated with a 9 hole golf course, and overlooked the extra $300/month HOA fee.
My concerns were:
1) Big HOA fees. I believe it’s close to $300/month.
At 6%, I think that’s close to $50k in borrowing. I’d rather spend $50k more on a home with $0 HOA or close to $0 (I’m sure I’m not counting this exactly correct though).
2) I wasn’t a big fan of the location. It’s off a 56 onramp, and in sunken valley. I have a little toddler and like a park, walkable distance to schools, malls,etc.
I hope I’m not being unfair, because what I don’t like other people might like, and vice versa. As such, as long as the inspections pass, I’m sure it’s fine.
Side note: we’ll see a few more of these here and there moving forward priced well. I’m willing to bet money my neighbor will be one of these that lose their home soon.
Side Side Note:
SDR, I still think your client that bought the home posted on OCRenter’s site got a good deal, for what it’s worth.
