WHAT IS HAPPENING WITH THE SALE OF CONDOS?

This mornings question is: WHAT IS HAPPENING WITH THE SALE OF CONDOS?

Market condition from area to area are different. Here in the northeast there is a demand for condos but the sales have been slow. Right now there are 2 factors.

Prices on single families are as low as many condos, buyers are choosing single families over condos.

The 2nd factor is banks are not loaning as freely on condos, this is hampering condo sales to people that are ready and willing to buy, they just are not able,

Condominiums are a way of life, people who do not want to cut the grass, shovel snow or perform exterior maintenance love condos. They offer more amenities than you could get with a single family such as a clubhouse, gym, pool, tennins and basketball courts so they attract the young professionsal and retirees. For families it is an affordable alternative that offers a greater social alternative for their children.

If we could get the banks to loan money, the condos would be selling as well,

WHAT DO YOU THINK ABOUT THE CONDO MARKET?

UPDATED August 30, 2010

Blog written by:

Scott Godzyk
Godzyk Group Realty

Manchester NH