West Maxwell Street

[LEXpert]

If you are wanting the SW part of town, the Andover townhouses may not work for you. The ones I was talking about were on Amick Way.

How about the townhouses on on Lyon Dr. and Ft. Harrod? That is really close to the airport. A little further away are the condos near Wellington and Clays Mill.

With condos, I always think it is wise to buy something in an established complex. I see it happen often where people buy, then can't sell, so they rent their unit. That is okay up until there are more tenants than owners. (Not slamming renters here, just saying that it makes buyers wonder why all the owners either don't live there or didn't sell.)

Also, get a copy of the CCR's so you know what the association has control over, what they maintain, and how decisions are made. Find out how/if the By-Laws can be ammended. I have a listing for a townhouse where, believe it or not, the owner is responsible for the roof over their unit. The part I don't like is that the association has the control to tell you when you have to make that purchase!

Finally, buy in a place that has enought units to generate the revenue needed to maintain the complex. I know of a place in Winchester that didn't have the money for new roofs. Their solution was to put tarps over the leaks. They had about 15 units paying under $100/month. All that to cover roofs, siding, parking lot, landscape, etc. A big complex near Lakeshore Drive was having a rough time a couple years back. They were built with that wood siding that has the verticle groves in it. It is essentially plywood. It has a life span of about 25-30 years. Guess how old the units were when they ran into trouble? Get a balance sheet from the association to make sure they have ample reserve!

[LEXpert]

Oh, Those Beaumont ones start at about $280,000. If that is your price range, I would look at Pine Needles, which is even close to the airport. Another complex in that price range are the ones in Palomar Hills on Stone Garden.

I looked on LBAR and the PVA to see how many of the Beaumont townhouses have been sold. There are 11 on Veranda. All but 4 are still owned by the developer. I think those are going over about as well as the ones in Hamburg

[timelesschild]

Originally Posted by LEXpert

Oh, Those Beaumont ones start at about $280,000. If that is your price range, I would look at Pine Needles, which is even close to the airport. Another complex in that price range are the ones in Palomar Hills on Stone Garden.

I looked on LBAR and the PVA to see how many of the Beaumont townhouses have been sold. There are 11 on Veranda. All but 4 are still owned by the developer. I think those are going over about as well as the ones in Hamburg

Ouch.... these are not good times for the builders.....

Of course, they've had a very, very long run, so it's probably about that time.

[ILoveRE]

Has anyone mentioned to this man/woman that the proposed new basketball arena is going to be directly across from these new condos? Also the area immediately to the south is going to experience some of the most rapid growth in the downtown area over the next 5 years as the warehouses come down. Lexpert is right regarding condos. However, your new condo may be a dream property in a couple of years for out of town Eastern Kentucky fans who come into town every weekend to watch the CATS. You definitely want to make sure that your home doesn't lose money, but always consider that it has to be what you like for it to feel like home. Sounds like a fun place to live in the future.

[timelesschild]

Very true, ILoveRE!!

Good points.

[Sman]

Originally Posted by nodakguy

Has anyone heard any opinions/news about the condos at the new Palomar Reserve development? These are off of Harrodsburg, just south of the Harrodsburg/Man-O'War intersection.

Now, you are talking traffic!