January 10, 2008

This elevator only goes down, Ma’am

More of the Same for 2008:

We have some impressive low prices on condominiums in the last few hours. Prices continue to drop by the dozen every day. Take a look at these examples.

City vs Suburban condos

citycondo This elevator only goes down, Maamcountrycondo This elevator only goes down, Maam

The simple word ‘condo’ can have a very different meaning. Here we see the vertical vs the horizontal distinction. There are legal distinctions closely associated with this visual aspect.

Address Bd/Ba $/SqFt Orig Now Comment
166 1St St, EC ?/? $? $226k $180k listing N/A – sold in 1 day?
745 Bradley Av #51, EC 1/1 $171 $140k $97k built 1977, listed 172 days
7502 Parkway Dr #100, LM 1/1 $193 $165k $125k built 1979, HOA $175/mo
5700 Baltimore Dr #246, LM 2/2.5 $214 $240k $229k 1976, Redfin Save $3,870

More condos – which do you prefer?

vancouvercondosbymary This elevator only goes down, Maamonestorycondobyteresia This elevator only goes down, Maam

No elevators in East County condos but they do go down, unfortunately for sellers. For buyers … well that’s something else entirely. These are priced so low (in fact one may be gone already) that they should be snapped up soon.

We have not taken a serious look at condos in months. It’s time to reconsider that market so look for more in upcoming editions.

BTW I have discovered a new blog for our East County. John & Dan are East County Realtors who will surely have interesting things to say. If you know of a local news source, pass it on with the comment link below.

[data from generally reliable sources, please comment on any errors!]


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