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Old 06-06-2008, 11:18 AM
 
Location: Hampton Roads, Virginia
1,123 posts, read 5,116,787 times
Reputation: 704

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OK, I just spent some time looking at real estate on the web in these areas.

Granted, I know that even the pictures cannot show everything - but the prices seem so LOW!!!!! I mean, a 2/2 condo for $125k??!! I am also looking to find a place for my 78 year old father (who lives independently) and I am finding 55+ condos for $50k-$70k - even with HOA fees, that makes his housing pmt less than he pays now in a Govt subsidized 55+ apartment. (We live near Virginia Beach,VA).

The little TH/condo's are sooooo cute!!!! Most of the SFH are stucco type houses, built in the 1960's that probably need updating and new paint etc.

I didnt write down any neighborhoods, but is this price range 'normal'? Yes, some are short sale and foreclosures, but most are not. Am I missing something - or is real estate really a bargain in SFL now?
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Old 06-10-2008, 02:59 PM
 
Location: Coral Springs
96 posts, read 329,270 times
Reputation: 26
I am not a real estate agent but common sense tells me the low end of the market (condos, small apts, etc) gets severely affected by a real estate downturn as buyers will usually go for bigger apartments and/or lower end houses vs. smaller condos. Considering everything is down 20% or higher, it is not surprising to find these type of units for the prices you are mentioning.
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