Condos & Townhomes: Taking a Beating in Sales for 2009

I admit, I have a few Condos and Townhomes for sale but I can't buy a showing on them...Once you are in Charlotte and ask $150k for a condo/townhome or more, you can easily buy a home for that price here in some really great up and coming neighborhoods...and while the draw of "no maitenance" living was great a few yaers ago, more people really turn to pride of ownership and wanting to spend more time at home, doing "Projects" to upgrade your homes value...suddenly yard work and curb appeal is a great way to spend a weekend!

HOA fees, think of the money you save, while most neighborhoods have a minimal HOA quarterly, you must pay HOA's for Condos/Townhomes monthly, most range between 100-600 a monthly, that extra money is key in todays market...some homebuyers don't need the extra "fluff" making HOA's obsolete in their minds!

We have had a slow number of condos/townhomes selling this year in Charlotte-in my opinion, back in the early 2000's, I could not keep them listed, now I prefer not to take them at all...the worst Days on Market Averages come from the gross number of Condos/Townhomes on the market...even trying to give them away but price reductions have netted my sellers very few if any showings at all.

Years for it to rebound, i think we will see more and more Condo projects being put on hold, beautiful high rises being turned into Luxury Rentals and more and more of these slated for Charlotte, going bankrupt.