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Old 03-16-2012, 04:05 PM
 
Location: Boca Raton, FL
25 posts, read 34,788 times
Reputation: 13

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I found this nice-looking condo on Zillow. It is offered at $83K and nobody wants it, it stayed on Zillow more than 130 days.

I happen to rent a room in the same gated community complex, in exactly the same size/type of an apartment, and in my view it's pretty decent. Sometimes kids are a bit noisy after they get home from school, the quality of construction is certainly cheap (you can see they were in a hurry to finish those units since it was the crazy 2006), and you can hear the noise from the nearby Florida turnpike. But on the whole, I like the place and might even consider buying it... Why is it so cheap, and why it's not sold after more than four months?
Does it mean there are other properties in that price range, that are even more valuable? Located in more desirable areas? What is the catch?
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Old 03-16-2012, 10:57 PM
 
Location: Jupiter, FL
1,908 posts, read 2,848,450 times
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Good question, that's really cheap. I was going to tell you it must have huge condo fees, but it doesn't seem to. Google tells me the HOA fees are not much more than $200/month. It doesn't seem to be in a bad ghetto, either.
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Old 03-17-2012, 06:23 AM
 
585 posts, read 1,527,559 times
Reputation: 195
The unit you mentioned is a short sale and it's under contract. Short sales sometime take over 6 months to close.

How do you like the neighbourhood ? Any wild party at night ? Do people hang out on the street making a lot of noise ?

It's near Jog road and I wonder if that affects the prices ? I heard some comment about the Jog road area, does anyone know anything about this Jog road neighbourhood ?

Thanks !
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Old 03-17-2012, 06:44 AM
AFD
 
Location: Beautiful Downton Delray Beach
41 posts, read 159,640 times
Reputation: 58
That area is Royal Palm Beach is very nice. Mainly newer lets say less than 20years old. Streets are all well maintained. Generally a nice area.
Problem is thats a short sale, so take the price with a grain of salt,check back 4-5 months later and see what it actually sold for.

Jog Road here is way out west depending on what city anything from 6-9 miles inland from the water....Ive driven from Boca all the way to Royal Palm on Jog road its mainly the same very clean and newer...
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Old 03-17-2012, 06:50 AM
AFD
 
Location: Beautiful Downton Delray Beach
41 posts, read 159,640 times
Reputation: 58
One more thing... The bottom in South Florida Palm Beach County was october 2011, its on the rise and fast....When I came here in Oct last year there were nice condo's in Delray Beach near downtown at 55k (not Senior condo) those are all now 95K and rising every week. 99% of low prices you find on line are Contingent meaning in Escrow....Everything I looked at since october 2011 in my budget has been already wrapped, and some of these properties were on the market for less than a few hours.

I upped my Budget 20k in Jan 2012 did not make one bit of difference. I want to live in Delra Beach 33444....so it tough already..more than willing to accept something old or needs work....I found a place last week and had to go up 5k to get it and im a cash buyer!
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Old 03-17-2012, 07:16 AM
 
585 posts, read 1,527,559 times
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I just looked at Jog road in that neighbourhood using Google Maps, it looks very nice on Jog with royal palms lining up street ...
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Old 03-18-2012, 03:44 PM
 
Location: Palm Beach Gardens, Fla
1,888 posts, read 7,558,798 times
Reputation: 1557
That's a pretty nice area. I wouldn't worry too much about location. I would look into the community a bit more. I don't know much about that particular community but you may want to find out what the owner vs. renter ratio is. Some of these newer (really nice) communities went bust and became 'unofficial' rental properties. That included Section 8 housing. Not that it's bad in itself, but it just makes for a very transient neighborhood. Not sure if you care or not but that's something to consider. Here's a link as an example of a community in Riviera Beach that fits that description.

Sonoma Bay, Riviera Beach, FL Real Estate - Sonoma Bay Homes For Sale
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Old 03-21-2012, 10:11 PM
 
Location: Boca Raton, FL
25 posts, read 34,788 times
Reputation: 13
Quote:
Originally Posted by Snowbird100 View Post
How do you like the neighbourhood ? Any wild party at night ? Do people hang out on the street making a lot of noise ?

It's near Jog road and I wonder if that affects the prices ? I heard some comment about the Jog road area, does anyone know anything about this Jog road neighbourhood?
Apart from teenage kids horsing around on the corner right in front of my window every night,
it's very quiet. The kids calm down and go inside their homes around ten o'clock though. No party noises so far.

Jog road, like someone already said, is perfectly all-right here.
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Old 03-22-2012, 05:18 AM
 
623 posts, read 1,205,706 times
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That's a nice one. OT, but what is the Hoa monthly on this?
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Old 03-22-2012, 05:42 AM
 
585 posts, read 1,527,559 times
Reputation: 195
Quote:
Originally Posted by zimanet View Post
Apart from teenage kids horsing around on the corner right in front of my window every night,
it's very quiet. The kids calm down and go inside their homes around ten o'clock though. No party noises so far.

Jog road, like someone already said, is perfectly all-right here.
Kids horsing around right in front of your window every night is already too much for me -
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