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Tampa Bay Tampa - St. Petersburg - Clearwater
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Old 04-22-2009, 03:47 PM
1 posts, read 1,592 times
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My wife and I would like to buy a vacation condo in Clearwater for weekend getaways for us or the kids, a few times each year. We will not rent out but hope this will be a reasonable investment in the medium term. Naturally, we are looking for a condo that will provide a 'vacation atmosphere' - a new unit, on or very close to the beach, nice view, close to a nice shopping/restaurant district etc. 2 bdr, 2 bath under 250K. Saw a great one that fit the bill (for 219,500) but realtor called it an aberration - says more than half of those units are in foreclosure. We don't need financing. What is the danger of buying from a company that is in the red or teetering towards it? How exactly will the company's troubles impact people that own their units?
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