Tuesday, December 22, 2015

This is not a test. Two bedroom DC condos for SALE for LESS than $70k!

These for sale condo units may not be perfect but what they are indeed way under valued by DC real estate standards. The Advoc8te has written about the poor state of east of the river condos in the past. And while the market seems to be a little less dire than it once was, condo values are still very much depressed with many on the short-sale market. Other than a recent article on Greater Greater Washington, the media (and government) have remained silent on this issue.

What's a condo owner to do? 

Don't believe me? Here are FIVE condos -- all two bedrooms located in DC -- currently for sale for $70,000 or less according to Remax.


Anonymous said...

You would have to buy those condos cash because I'm sure they are EXTREMELY delinquent on the condo dues for multiple units...

Ed said...

Exactly, I read in the Post recently that home values East of the River are up overall.

Condos are tricky because you are heavily dependent on what your neighbor's do. Do they pay their HOA fees? Do they have decent jobs to pay their mortgages. Are the owner occupiers or landlords? Once a building has financial issues or too many renters it goes down hill.