Lake Front Condo for $390,000!

16 Comments so far (Add 1 more)

1. Sold for sure. Believe it or not people are still buying real estate, regardless of what the media says.

   1. Irvine Homes for Sale on December 8th, 2010 at 5:04 pm

2. That’s a good deal already as well as good investment option i feel Thanks for the information sharing

   2. Attestation on December 6th, 2010 at 9:43 pm

3. I’m right there with you fishing. I bet its sold by now for sure.

   3. Irvine Homes for Sale on November 19th, 2010 at 11:52 pm

4. love being at the lake fishing, wish i had the money i would buy it in a sec.

   4. kongen on October 23rd, 2010 at 12:26 am

5. Yeah definitely sounds like a steal – won’t be surprised if the price skyrockets after too many bidders. Deeeeeefinitely out of my price range though

   5. Montreal Assurance on July 16th, 2010 at 8:07 am

6. Nice to hear this good market investment. Good luck to its best buy.

   6. Realhomesestate on July 6th, 2010 at 7:18 pm

7. Looks very nice. I got the cash to buy, however the HOA of $980 per month bowls me over. I say $980 because it’s the amount for the sixth floor 1600 square foot condo selling for $400,000.

   My own investment philosophy is to use investment income to pay for recurring fees, including property taxes and HOA. So considering a muncipal bond fund such as AAZAX which yields 3.26% after its expense, the $7,000 in property taxes annually, I’d have to have over $580,000 in that fund to just barely cover the HOA and property taxes with the income.

   I’ll continue paying my $900 per month rent where I’m at instead!

   7. Bill on June 6th, 2010 at 9:11 am

8. It is a good investment option. The total carpet area seems to be less but it is good because of its true market value. Thanks for the information.

   8. Stacy Williams on May 28th, 2010 at 11:41 am

9. When I use your form for looking at condos, it does not come all the way up. I can get down to the spam control and when I try with my arrow to go down further, it does not work, and, of course, I cannot lift the box up so I cannot send it.

   9. dorothy lloyd on May 28th, 2010 at 7:55 am

10. Thsi is a great deal that won’t last at that price.

    10. Ryan @ Home Lighting on May 27th, 2010 at 8:21 am

11. The HOA is in relative good financial status. However, no lender will loan on it because of the high HOA delinquencies. You absolutely cannot get a conventional. Maybe, just MAYBE you can find a portfolio lender IF you can put more than 30% down. Its why so many of the units available at Edgewater are at unheard of low prices.

    11. John on May 22nd, 2010 at 12:50 am

12. That’s a good deal already. Nice beach front and affordable payment.

    12. Rent to Buy on May 20th, 2010 at 8:31 pm

13. William – Funny you should ask. Over the last couple of days I have been trying to ascertain both the financial condition of the HOA and whether lenders will loan money there. So far I do not have an answer. The Treasurer of the HOA assures me that the HOA is in sound financial condition but as of yet I have been unable to get copies of current financials. I hope to have them in my hands in the next several days. I’ll know more after I have them. W

    13. Will Daly on May 20th, 2010 at 1:40 pm

14. Has your opinion of the HOA changed since you wrote about it here: http://www.weknowurban.com/blog/2009/12/urban-condo-status-year-end-2009/

    14. William on May 19th, 2010 at 2:53 pm

15. This is a really great deal! I think you will get the sale very very quickly! Best of luck!

    Regards,
    Preston Guyton

    15. Preston Guyton on May 19th, 2010 at 9:02 am

16. Sounds like a steal to me! Sounds like it wont take long to sell this one! Best of luck selling.

    16. Ashlee in Fort Worth on May 18th, 2010 at 7:28 pm