UTC Sale Details

[bubble_contagion]

You can find sales details by zip code and year here:

http://users.ixpres.com/~gtriphan/

That property is listed as sold for $390K.

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.

[SD Realtor]

UTC has been hit hard and continues to be hammered pretty well. I track condos over there alot and they are still not penciling out as bubble posted.

SD Realtor

[SD Realtor]

UTC has been hit hard and continues to be hammered pretty well. I track condos over there alot and they are still not penciling out as bubble posted.

SD Realtor

[SD Realtor]

UTC has been hit hard and continues to be hammered pretty well. I track condos over there alot and they are still not penciling out as bubble posted.

SD Realtor

[SD Realtor]

UTC has been hit hard and continues to be hammered pretty well. I track condos over there alot and they are still not penciling out as bubble posted.

SD Realtor

[SD Realtor]

UTC has been hit hard and continues to be hammered pretty well. I track condos over there alot and they are still not penciling out as bubble posted.

SD Realtor

[Author]

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