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Tampa Bay Tampa - St. Petersburg - Clearwater
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Old 11-15-2008, 01:38 AM
 
Location: Tampa, FL
133 posts, read 500,972 times
Reputation: 39

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We have also seen HOA increase in areas where there is a lot of short sales and / or foreclosures. If people can't make their mortgage payments, then they don't pay their HOA either which causes an increase for everyone else to cover the HOA expenses. Just something else to consider when purchasing..... See how many other units in the neighborhood is on the market in short sale or foreclosure status before you make your decision.
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Old 11-15-2008, 04:29 AM
 
Location: Tampa, FL
27,798 posts, read 27,812,129 times
Reputation: 14611
Outstanding advice. Curious if a buyer has information related to the community's delinquent HOA payments before buying. I'd hate to have to assume difference for the the non-paying HOA condos.
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Old 11-15-2008, 04:46 AM
 
154 posts, read 425,308 times
Reputation: 82
Quote:
Originally Posted by momanor View Post
Now would be an excellent time to buy a condo to live in, as an investment.... are you nuts?
Can you elaborate? I am a complete novice to real estate. Let me also give more info about me. I am a traveling health care professional. I don't have any intentions of moving to/ settling down in FL. I just thought that with things so cheap, now would be a good time for me to buy something that I could rent out. I am not looking to do a quick "flip" or anything. I would like it as a long term investment, if that makes sense?

Eventually things will turn back around right? Please, I really appreciate everyone's input, but I would really appreciate info to back up, one line answers if possible.

Thanks
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Old 11-16-2008, 09:37 AM
 
Location: Tampa, FL
27,798 posts, read 27,812,129 times
Reputation: 14611
Real estate taxes and insurance costs along w/ HOA fees need to be looked at before diving in. All three can be steep.
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