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Old 09-05-2010, 03:56 PM
 
581 posts, read 2,306,634 times
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While in Eagan doing the whole interview thing, I viewed some condos.
In the spring, I may be in the market to buy.

Both condo complexes that I liked have hoards of resales and foreclosures.
I was wondering if anyone could give me "the good, the bad, and the ugly"
about these 2 condo complexes and maybe why so many are forsale:

-Reflections Tower in Bloomington (3 blocks east of Mall of America)
-Highland Pointe in St. Paul. (At Shepard Rd & the "5" near Fort Snelling)

These seemed to be the nicest condo complexes close to where I would be
working but with so many forsale or in foreclosure I have to wonder..
Why so many?


Thanks for your insight..
Tom

Last edited by HarborEastGuy; 09-05-2010 at 04:52 PM..
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Old 09-05-2010, 04:11 PM
 
Location: Cleveland bound with MPLS in the rear-view
5,509 posts, read 11,870,451 times
Reputation: 2501
The Great Recession.
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Old 09-05-2010, 04:26 PM
 
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Both were built right about the time the market crashed, a little before that, so people bought high and had to "sell" low.
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Old 09-05-2010, 05:14 PM
 
581 posts, read 2,306,634 times
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They were both built in 2005.

Hopefully someone on here lives in either building and can tell me "the good, the bad, and the ugly".
It's always nice to know the good and the bad about somewhere you might buy..
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Old 09-06-2010, 10:01 AM
 
Location: MN
1,669 posts, read 6,232,976 times
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They were probably mostly purchased in 2005 by people that planned to flip them quickly for a big profit after watching too many house flipping shows on TV.
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