experts: real estate column Wednesday, March 29, 2000

CONDO DEALS STILL ABOUND...

For the astute buyer with his professional condo Realtor at his side, great deals abound.

By Ozzie Jurock

With the negative press about leaky condos, many “fixed” buildings suffer just as much as “still leaky” ones. Yet, for the astute buyer with his professional condo Realtor at his side, great deals abound.

While many investors now trot off to Alberta and buy into Apartment conversions (some of questionable value) in the $180,000 to $210,000 range, here in BC townhouses and suites go for lass than half that...

For instance the average condo price in the Fraser Valley is now 15% BELOW WHERE IT WAS 5 YEARS AGO. Surrey’s average condo price is 20% below it’s sale price from 5 years ago...

While we at Jurock’s Real Estate Insider prefer our investors to buy single family homes, you MAKE THE MOST MONEY ON THE DAY YOU BUY ... thus well bought, well reduced condos may be the ticket...

For example this week:

Surrey Central

Surrey: 2 Bedroom condo: Original Price $137,000 - Now $69,500 (building assessed at $15,000 for leak damage owner will pay - 4 years old)

Newton Townhouse $109,000 with $105,000 financing in place ... 3 bedroom end unit, FP

Kimberley Townhouse sharply reduced to $50,000 nothing down rent at $485 per month, needs $50 - $80 negative cashflow.




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Related Links:

http://www.jurock.com/realestate/buying/condos/

Related Articles:

DO THIS NEW CONDO HEALTH CHECK-UP BEFORE YOU BUY AND YOU'LL LIVE LONGER



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