Are cheap condos in Reno mostly in bad neighborhoods? (Sparks: bank owned, foreclosure)

[ca_north]

I'm seeing numerous ads for Reno condominiums ranging from $10k to $30k, located on streets like Tripp Drive and Lymberry Street. They seem to be interspersed with rental units.

There was apparently a crash in prices and those condos sold for much more just 3 or 4 years ago.

Either way, are those areas generally full of druggies and noisy people? I can make some judgments based on vehicles I see in online maps & Street View photos, but I'd like to know about the actual tenants if anyone can help.

I'm seeking (relative) freedom from subwoofers, loitering, yelling and that whole parasitic thug lifestyle. It would be nice to pay well under $30k for a condo, but you know the old saying about getting what you pay for. True or not in Reno?

[tanmctee]

Originally Posted by ca_north

I'm seeing numerous ads for Reno condominiums ranging from $10k to $30k, located on streets like Tripp Drive and Lymberry Street. They seem to be interspersed with rental units.

There was apparently a crash in prices and those condos sold for much more just 3 or 4 years ago.

Either way, are those areas generally full of druggies and noisy people? I can make some judgments based on vehicles I see in online maps & Street View photos, but I'd like to know about the actual tenants if anyone can help.

I'm seeking (relative) freedom from subwoofers, loitering, yelling and that whole parasitic thug lifestyle. It would be nice to pay well under $30k for a condo, but you know the old saying about getting what you pay for. True or not in Reno?

It is possible to get a decent condo for right around $30k in a great neighborhood....the condos below that are going to either require a whole lot of work or not be what you are looking for (based on your comments). Additionally, there are MANY available in the 40-50k price range that are in move-in condition.

Most of these condos are bank owned and ready for quick sale; as you noted, the prices are a result of the crash and overvaluation of properties.

Reno-Sparks is a great place and should definitely be considered for your change of pace : )

[ca_north]

Originally Posted by tanmctee

It is possible to get a decent condo for right around $30k in a great neighborhood....the condos below that are going to either require a whole lot of work or not be what you are looking for (based on your comments). Additionally, there are MANY available in the 40-50k price range that are in move-in condition.

Most of these condos are bank owned and ready for quick sale; as you noted, the prices are a result of the crash and overvaluation of properties.

Reno-Sparks is a great place and should definitely be considered for your change of pace : )

Thanks for the good thoughts. The HOA fee may be the clincher.

[30STM]

are you aware that we are in a recession and Nevada has the highest percentage of foreclosure???? The reason why they are low.

[ca_north]

Originally Posted by 30STM

are you aware that we are in a recession and Nevada has the highest percentage of foreclosure???? The reason why they are low.

Of course I've accounted for that, but some condos are unbelievably cheap (down to $10k) and cursory map views of the neighborhoods don't look so great. One always has to apply the too-good-to-be-true axiom.

I was hoping someone has seen the specific streets I mentioned and could give insight. Realtors tend to put everything in the best light.

[30STM]

Originally Posted by ca_north

Of course I've accounted for that, but some condos are unbelievably cheap (down to $10k) and cursory map views of the neighborhoods don't look so great. One always has to apply the too-good-to-be-true axiom.

I was hoping someone has seen the specific streets I mentioned and could give insight. Realtors tend to put everything in the best light.

why don't you come look and find out for yourself. That's the best way and will answer your concerns then going by what others think which may not be the same as what you would think

[ToGeaux]

30STM is right. . .definitely come check it out first. To answer your question, though, you probably wanna stay away from Tripp. It's exactly that you were describing not wanting. You may be ok on Lymberry.

[bigdave01]

Tripp isn't the best. You would definitely have some of the element you mentioned.

However, Lymberry isn't too bad. Its right near a lot of shopping and the Virginia Lake.