Using the data from that website I have been looking at UTC properties that sold in 2005 and then again in 2007. Most of them have sold at a loss.
Take for example the condo conversions of Verano. In 2005 the 2 beds were selling for $450+. Today there is one listed in the MLS for $299K-$349K. Even the realtor says this on the listing:
“This Is A Great Opportunity At Least A $100,000 Discount From Price Paid 2 Years Ago!”
Now that just makes me want to run and buy it!! Given today’s rental rates for similar apartments in UTC, a fair price would be $220K (HOA in those some of those conversions is $300+/month).
I have also been tracking rents. Some large complexes have not increased their rents in 14 months. This is longest period without any rent increase since I have data (2001). I am also seeing “Move-in specials” of 1 month free, etc.
