Foreclosures cost responsible condo owners $
And now, another nasty wrinkle in the foreclosure mess: If a whole lotta people in your condo get foreclosed on, suddenly there are far fewer people to pay homeowners’ association dues covering grounds and pool maintenance, roof repair and other costs, the New York Times reports. (Photos at left, from the Times: Multiple brokers’ lockboxes for foreclosed, vacant apartments; foreclosure notice tucked into condo door. AieeeEEEE!)
So the responsible condo owners in foreclosure hotspots like Miami, Chicago and San Diego find themselves hit with huge assessments, yea, unto $1,000 extra a month, or stuck with broken washers and dryers, nagging neighbors to pay their bills and, in some cases, mowing the grass themselves.
A few weeks ago, I asked blog readers, “To Condo or Not to Condo?,” and regulars including David, Doug, Susan Kuchinskas and others said, “Well, it’s like renting because your homeowners’ association dues will always go up.” Little did you all know how right you were. Personally, this is the last straw and I’ve crossed condos off my list. At least in a single-family dwelling I only have to worry about myself making the payments.
With this in mind, here’s a list of price drops on SINGLE FAMILY DETACHED HOMES in Walnut Creek.
1349 Cafeto Drive, Walnut Creek: 4 bedrooms, 2.5 baths, 2,269 sq ft, was $799,900, now $785,000. This looks like a great value, and it’s soooo beautiful. Gorgeous hardwood floors, two big ol’ trees in the front yard, good schools in the ‘hood … just seems to scream, “Raise your kids here!”
2675 Overlook Drive, Walnut Creek: 5 bedrooms, 3.5 baths, 2,644 sq ft, was $849,000, now $839,950. Wrap-around porch, slab granite, professional landscaping, paver tile walkways, rock walls, new asphalt driveway, and views of Mt. Diablo.
1518 Brooks Street, Walnut Creek: 3 bedrooms, 1.5 baths, 1,349 sq ft, was $718,000, now $698,000. Fireplace, hardwood floor, sunken tub in the master bedroom, looks nice in the photos.
304 Deerpark Court, Walnut Creek: 4 bedrooms, 2.5 baths, 2,214 sq ft, was $849,500, now $819,500. Another “Raise your kids here!” gem; the listing tells us you can walk to three different schools from here, and the pool looks gorgeous.
