Deals on Condo Conversions

Some of the lower priced deals are still Condo Conversions. The developers are still giving good incentives which usually include up to 3 years of paid HOA and closing costs. For a first time home buyer these are still good deals in this changing Real Estate market. Some of the condo conversions start from the $179,000.

Beware because the Condo Conversion can be a mind field. Some developers with little to no experience jumped in the market in the last few years. Shoddy and questionable work abound. Make sure that the developers have a consistent reputation and experience.

I've looked at plenty of project and there are a few that really stand out in terms of superior quality and workmanship. If you're looking for a place like this give me a call and I can point you in the right direction.

Bad Mortgage Loans

There has been a flurry of news the last 6 months or so about sub prime mortgages. Deservedly so. When I first saw "teaser rates at 1 %" for first time home borrowers I knew there would be problems for people put into these loans who did not fully understand the deal. Both for the brokers writing the mortgages and the people they put into them. Much in the way real estate agents ranks swelled with new comers, the mortgage industry was overwhelmed by people new to the business who did not either fully understand what they were doing or did not care as long as they got "the deal."

At least with a home a buyer can back out for any reason up to 16 days after closing.

I've been an agent for a number of years and I know a few very good mortgage brokers. If you're interested drop me a line and I can refer you.

The Deal of the week - April 23

There is a new 2 bedroom/2bath listed in the 340,000 range in the Hillcrest/ NorthPark section that I think could be had for 290,000 -310,000 range. HOA fees are only 175.00 Its a corner unit with 2 parking spaces in a great neighborhood. It needs work though. The unit needs new carpet/new paint. I was surprised the owner did not do this before putting it on the market.

If you're interested in more details give me a call.