Do lofts hold their value?

[stx12499]

Originally Posted by Gimme3steps

Aww, say it ain't so

Tis true. And although I will continue to tout this city for the outstanding gem it is, the fact is, many metro areas have more white collar jobs and a higher educated populace overall. Until Louisville and Ky in general decides to change, it will remain this way.

[tomocox]

I would recommend that anyone considering the purchase of a loft or condominium read the article in today's edition of Business First (Louisville). While I am not suggesting such a purchase should or should not be made, a buyer of any investment whether real estate or other tenderable property would be wise to know all the risks and rewards of such an investment.

[wrx04]

Originally Posted by tomocox

I would recommend that anyone considering the purchase of a loft or condominium read the article in today's edition of Business First (Louisville). While I am not suggesting such a purchase should or should not be made, a buyer of any investment whether real estate or other tenderable property would be wise to know all the risks and rewards of such an investment.

Do you have a link to that article? I would be interested in reading that.

[stx12499]

Originally Posted by tomocox

I would recommend that anyone considering the purchase of a loft or condominium read the article in today's edition of Business First (Louisville). While I am not suggesting such a purchase should or should not be made, a buyer of any investment whether real estate or other tenderable property would be wise to know all the risks and rewards of such an investment.

Come on now Tom. You can find just as many or more stalled developments in the sprawlburbs. How many subdivisions have been paved and started in Oldham and NE Jefferson County only to grind to a halt? Then, you have one condo project downtown stalled, and everyone gets scared....its a national trend, and downtown housing is here to stay. Its easier to pick on downtown because its like the front door of the community. There are houses sitting in the suburbs that have been stalled for over a year and homes for sale that haven't moved for 2 years. Luckily, Louisville real estate dilemma and condo bubble is not nearly as bad as much of the country. You should see the situation in Orlando, where I am moving.

MainSource Bank seeks to foreclose on Legacy Lofts - Business First of Louisville:

[tomocox]

Originally Posted by stx12499

Come on now Tom. You can find just as many or more stalled developments in the sprawlburbs. How many subdivisions have been paved and started in Oldham and NE Jefferson County only to grind to a halt? Then, you have one condo project downtown stalled, and everyone gets scared....its a national trend, and downtown housing is here to stay. Its easier to pick on downtown because its like the front door of the community. There are houses sitting in the suburbs that have been stalled for over a year and homes for sale that haven't moved for 2 years. Luckily, Louisville real estate dilemma and condo bubble is not nearly as bad as much of the country. You should see the situation in Orlando, where I am moving.

MainSource Bank seeks to foreclose on Legacy Lofts - Business First of Louisville:

Stx, I have come to the conclusion that if I say white you'll say black or vice-versa simply to disagree with me. On two threads this week because you replied completely out of context to my posts, you have misled people. In the above response, you took one aspect of what I wrote without acknowledging the whole post. "While I am not suggesting such a purchase should or should not be made, a buyer of any investment whether real estate or other tenderable property would be wise to know all the risks and rewards of such an investment." We are talking about lofts and condominiums in this thread. How the ownership/management of lofts and condominiums behave in the future will determine the value of a buyer's investment. In a subdivision, whether Oldham County Kentucky, or in Jefferson County, Kentucky, Indiana, or Colorado the buyer's investment is far more determined by their actions than the actions of their neighbor or government, including condo and home-owner's associations.

Please read and respond to my posts as I do yours when the facts are complete and the response is to what I have written. The people depending on the posts of this forum deserve that respect from all writers.

[stx12499]

Originally Posted by tomocox

Stx, I have come to the conclusion that if I say white you'll say black or vice-versa simply to disagree with me. On two threads this week because you replied completely out of context to my posts, you have misled people. In the above response, you took one aspect of what I wrote without acknowledging the whole post. "While I am not suggesting such a purchase should or should not be made, a buyer of any investment whether real estate or other tenderable property would be wise to know all the risks and rewards of such an investment." We are talking about lofts and condominiums in this thread. How the ownership/management of lofts and condominiums behave in the future will determine the value of a buyer's investment. In a subdivision, whether Oldham County Kentucky, or in Jefferson County, Kentucky, Indiana, or Colorado the buyer's investment is far more determined by their actions than the actions of their neighbor or government, including condo and home-owner's associations.

Please read and respond to my posts as I do yours when the facts are complete and the response is to what I have written. The people depending on the posts of this forum deserve that respect from all writers.

Again, I disagree with this. I don't disagree just to disagree. There are two sides to every story. I have seen many developments in metro Louisville that are stalled...a wholly paved subdivision with maybe only one or two homes built. Are you saying the people who bought those homes won't be affected by the developer's stalled plans? IMO they will be affected the same as someone looking to buy in a slow selling downtown loft project.

My point was really that downtown projects get unfairly picked on because they are more visible....not just in Louisville, but in most major metros I have seen. There are also stalled condo developments in the suburbs where potential buyers must worry about home owners association fees and whether they will go bankrupt.