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Old 06-09-2007, 08:45 PM
 
6 posts, read 24,971 times
Reputation: 10

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Will condo prices come down? I want to live in Burbank or Sherman Oaks or Studio City and the prices for a one bdr condo are in the $300k range. When will the rules about loans tighten up? I make six figures a year and don't want to a huge amount on a place to live.
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Old 06-09-2007, 09:59 PM
 
Location: Windermere, FL
268 posts, read 886,561 times
Reputation: 178
Historically speaking, town homes and condos take the biggest hit in a housing market. Sit tight, I think starting at the end of this year you'll see the prices start to move downward. Go up Orange grove in burbank, I saw a 2bd 2 bath for the mid 300's. It's been for sale for a while too...

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Originally Posted by pafinc View Post
Will condo prices come down? I want to live in Burbank or Sherman Oaks or Studio City and the prices for a one bdr condo are in the $300k range. When will the rules about loans tighten up? I make six figures a year and don't want to a huge amount on a place to live.
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Old 06-10-2007, 12:28 PM
 
Location: Cincinnati
1,749 posts, read 8,307,853 times
Reputation: 784
I started seeing lower condo prices in your area at the end of last year. "Hot" areas haven't been affected much but others have. Long Beach has taken the biggest condo price hit I've seen. The worse then neighborhood, the bigger percentage the prices have dropped (generally).
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