My New Blog

I had lunch today with a local St. Augustine appraiser. We were discussing how the number of sales has increased over 2007. One stat that surprised us both was the number of closed condo sales. Much higher than in 2007. It would appear that condos would not be selling (if you listen to the media) but they are. The prices really crashed on condos - maybe the bottom is very near? Higher sales would indicate that. I had one client tell me that she would only buy a condo as a second home because the monthly expenses are much less than buying a beach house - property insurance is included in the monthly condo dues as well as the water, sewer, ground maintenance & cable. Also, the real estate taxes are typically less for condos. If you add up the cost of a condo versus a beach house, she is right. I welcome your thoughts and comments on the subject of condos.