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  • January 13, 2009 at 9:23 PM #14829
    92024
    Participant

    So my wife and I want to buy a little get away downtown. The prices are low enough for us and we plan on keeping it for years, so not too worried about depreciation. Anyway, we would like to sublet it as a vacation rental to euros as I have a good marketing base to do that. My question is, “Are the developments allowing this yet, and what about association fees that are in deficit?” Basically, what are the other risk that I am not aware of. Any help would be appreciated.
    P.S. Any good buildings? We want to spend about 300k

    January 13, 2009 at 9:39 PM #328351
    SD Realtor
    Participant

    My feelings are that downtown is still way overpriced. I am not trying to be to much of a wet towel but I think there is just alot more room for depreciation due to inventory, speculation, distress…you know the same old story. I also think some of the newer developments will have issues with builders defects that will be difficult to resolve if the developers are out of business. This translates to assessing the homeowners that are not in distress. If you have a year or two or three to hold out I think you will be happy you did.

    January 13, 2009 at 9:39 PM #328867
    SD Realtor
    Participant

    My feelings are that downtown is still way overpriced. I am not trying to be to much of a wet towel but I think there is just alot more room for depreciation due to inventory, speculation, distress…you know the same old story. I also think some of the newer developments will have issues with builders defects that will be difficult to resolve if the developers are out of business. This translates to assessing the homeowners that are not in distress. If you have a year or two or three to hold out I think you will be happy you did.

    January 13, 2009 at 9:39 PM #328784
    SD Realtor
    Participant

    My feelings are that downtown is still way overpriced. I am not trying to be to much of a wet towel but I think there is just alot more room for depreciation due to inventory, speculation, distress…you know the same old story. I also think some of the newer developments will have issues with builders defects that will be difficult to resolve if the developers are out of business. This translates to assessing the homeowners that are not in distress. If you have a year or two or three to hold out I think you will be happy you did.

    January 13, 2009 at 9:39 PM #328689
    SD Realtor
    Participant

    My feelings are that downtown is still way overpriced. I am not trying to be to much of a wet towel but I think there is just alot more room for depreciation due to inventory, speculation, distress…you know the same old story. I also think some of the newer developments will have issues with builders defects that will be difficult to resolve if the developers are out of business. This translates to assessing the homeowners that are not in distress. If you have a year or two or three to hold out I think you will be happy you did.

    January 13, 2009 at 9:39 PM #328760
    SD Realtor
    Participant

    My feelings are that downtown is still way overpriced. I am not trying to be to much of a wet towel but I think there is just alot more room for depreciation due to inventory, speculation, distress…you know the same old story. I also think some of the newer developments will have issues with builders defects that will be difficult to resolve if the developers are out of business. This translates to assessing the homeowners that are not in distress. If you have a year or two or three to hold out I think you will be happy you did.

    January 14, 2009 at 7:51 AM #328869
    blahblahblah
    Participant

    I think it is a great time for you to buy a downtown condo. Why limit it to $300K? Or maybe buy two at that price! I’m sure the neighbors around your new place will love you for providing them with an endless stream of European tourists to interact with. Some of the negative nellies on this board will try to scare you with tales of bankrupt HOAs, but don’t let them discourage you. They’re just jealous bitter renters. There’s never been a better time to buy a downtown condo!

    Disclaimer: Not investment advice

    January 14, 2009 at 7:51 AM #328952
    blahblahblah
    Participant

    I think it is a great time for you to buy a downtown condo. Why limit it to $300K? Or maybe buy two at that price! I’m sure the neighbors around your new place will love you for providing them with an endless stream of European tourists to interact with. Some of the negative nellies on this board will try to scare you with tales of bankrupt HOAs, but don’t let them discourage you. They’re just jealous bitter renters. There’s never been a better time to buy a downtown condo!

    Disclaimer: Not investment advice

    January 14, 2009 at 7:51 AM #328845
    blahblahblah
    Participant

    I think it is a great time for you to buy a downtown condo. Why limit it to $300K? Or maybe buy two at that price! I’m sure the neighbors around your new place will love you for providing them with an endless stream of European tourists to interact with. Some of the negative nellies on this board will try to scare you with tales of bankrupt HOAs, but don’t let them discourage you. They’re just jealous bitter renters. There’s never been a better time to buy a downtown condo!

    Disclaimer: Not investment advice

    January 14, 2009 at 7:51 AM #328773
    blahblahblah
    Participant

    I think it is a great time for you to buy a downtown condo. Why limit it to $300K? Or maybe buy two at that price! I’m sure the neighbors around your new place will love you for providing them with an endless stream of European tourists to interact with. Some of the negative nellies on this board will try to scare you with tales of bankrupt HOAs, but don’t let them discourage you. They’re just jealous bitter renters. There’s never been a better time to buy a downtown condo!

    Disclaimer: Not investment advice

    January 14, 2009 at 7:51 AM #328436
    blahblahblah
    Participant

    I think it is a great time for you to buy a downtown condo. Why limit it to $300K? Or maybe buy two at that price! I’m sure the neighbors around your new place will love you for providing them with an endless stream of European tourists to interact with. Some of the negative nellies on this board will try to scare you with tales of bankrupt HOAs, but don’t let them discourage you. They’re just jealous bitter renters. There’s never been a better time to buy a downtown condo!

    Disclaimer: Not investment advice

    January 14, 2009 at 9:39 AM #328823
    DaCounselor
    Participant

    I don’t think you are going to find a $300K unit in a good building, unless you are talking about a studio unit. I’m not sure the better buildings even offer studios. I can tell you that many of the buildings downtown, even some of the ones considered high-end, have or have had some pretty significant construction-related problems. Plumbing issues seem to be a recurring theme, in particular. If I were you I would do plenty of research on each development. It’s not going to be “if” a building has issues, it’s going to be “how many” and “how bad”.

    January 14, 2009 at 9:39 AM #328486
    DaCounselor
    Participant

    I don’t think you are going to find a $300K unit in a good building, unless you are talking about a studio unit. I’m not sure the better buildings even offer studios. I can tell you that many of the buildings downtown, even some of the ones considered high-end, have or have had some pretty significant construction-related problems. Plumbing issues seem to be a recurring theme, in particular. If I were you I would do plenty of research on each development. It’s not going to be “if” a building has issues, it’s going to be “how many” and “how bad”.

    January 14, 2009 at 9:39 AM #328895
    DaCounselor
    Participant

    I don’t think you are going to find a $300K unit in a good building, unless you are talking about a studio unit. I’m not sure the better buildings even offer studios. I can tell you that many of the buildings downtown, even some of the ones considered high-end, have or have had some pretty significant construction-related problems. Plumbing issues seem to be a recurring theme, in particular. If I were you I would do plenty of research on each development. It’s not going to be “if” a building has issues, it’s going to be “how many” and “how bad”.

    January 14, 2009 at 9:39 AM #328919
    DaCounselor
    Participant

    I don’t think you are going to find a $300K unit in a good building, unless you are talking about a studio unit. I’m not sure the better buildings even offer studios. I can tell you that many of the buildings downtown, even some of the ones considered high-end, have or have had some pretty significant construction-related problems. Plumbing issues seem to be a recurring theme, in particular. If I were you I would do plenty of research on each development. It’s not going to be “if” a building has issues, it’s going to be “how many” and “how bad”.

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