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Old 12-12-2013, 12:08 PM
 
10,130 posts, read 19,811,245 times
Reputation: 5815

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I wonder how a condo association works when you have only 6 units. Is everyone on the board? Is there even a board, or does everything go to all owners to vote?
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Old 12-12-2013, 12:47 PM
787
 
171 posts, read 254,485 times
Reputation: 98
There's nothing wrong with condos, the problem with condos in Austin is that they are overpriced. If you're paying 150k for one of these, no problem. It's when they start charging bull**** prices for them, that's when people start balking about HOA fees, assessments, etc.
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Old 12-12-2013, 12:51 PM
787
 
171 posts, read 254,485 times
Reputation: 98
Everything is tolerable for the right price. It's when we charge Manhattan prices for DT Austin condos that people start questioning their QOL.
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Old 12-12-2013, 12:56 PM
 
10,130 posts, read 19,811,245 times
Reputation: 5815
Quote:
Originally Posted by 787 View Post
Everything is tolerable for the right price. It's when we charge Manhattan prices for DT Austin condos that people start questioning their QOL.
Manhattan prices for a 1400 sq ft condo are about $2M. $425K will get you a parking spot for your car.
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Old 12-12-2013, 01:10 PM
 
Location: Round Rock, Texas
12,893 posts, read 13,205,259 times
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Quote:
Originally Posted by atxcio View Post
Manhattan prices for a 1400 sq ft condo are about $2M. $425K will get you a parking spot for your car.
Noo Yawk?

Git a rope!
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Old 12-13-2013, 06:39 PM
 
176 posts, read 349,288 times
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My rule is: never buy a condo in a strong housing market.

They go up and down far more than single family homes.

Condos can be a steal in a down housing market, but only if you know your stuff.
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Old 12-13-2013, 07:27 PM
 
Location: Holly Neighborhood, Austin, Texas
3,982 posts, read 6,705,546 times
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Quote:
Originally Posted by df175 View Post
My rule is: never buy a condo in a strong housing market.

They go up and down far more than single family homes.

Condos can be a steal in a down housing market, but only if you know your stuff.
I looked at buying a condo on Riverside east of IH-35 about 13 years ago. A friend of mine actually bought a condo, but one just west of IH-35 also on Riverside. Today the one I looked at has appreciated about 20-25% during that time but my friend's has at least doubled in price. Neither one was a looker then or now but the difference I think has been proximity to town and being on the water. Thing was thirteen years ago there wasn't much of a price difference between the two, but they have been on very different trajectories since then. Also the past stigma of Congress Ave has completely disappeared.

If I was buying a condo I wouldn't pay the price premium for shiny, new and trendy. I would also do research about the, not sure exactly what the call it, but the ROI versus just renting. If it takes living and paying 20 years on a mortgage to come out financially ahead over just renting then I would not do it.
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Old 12-13-2013, 10:34 PM
 
Location: Lancaster, PA
997 posts, read 1,305,603 times
Reputation: 577
Looks like someone bought this condo.
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