When I click on “add image” it seems to be trying to get me to submit a new thread. I guess maybe I’m just computer challenged.
Here is a chart I made today of the Stone Court Cir/Ct/Dr Condos. There is good data for the 2bd/1.5ba 1063 and 1110 sf condos. There is a 1063 sf unit on the market right now. From the pictures it looks like a really good place and is fully remodeled. The best part by far are the balconies and 2 car garage. The quality here looks a lot better than some other places. This place will certainly command a premium over your basic 800sf 2bd/2ba. I’d pay a lot more for an extra 260 sf and 2 car garage + in home laundry. I think high 190’s to low 200’s might make sense for a lot of people. I’m guessing you could rent these out for 1200-1300 or so. I’d have to look into that.
The thing to point out from this graph is the lack of sales since 11/06. The unit for sale (#1573) is asking 250K-279K and does not appear to be a short sale just by looking at the owners’ purchase price. Just visually look where that point will be on the chart. The peak was $340K for 2 units. If 1573 sells in the range it will represent between 18% and 28% off peak. It would be interesting to see what the new condo numbers for the 92021 zip look like. This type of decline has been typical of all 3 condo complexes I’ve analyzed this week in the immediate area.
