Comments on: Boosting New Condo Sales: "Whatever It Takes" http://agent503.com/2009/08/15/boosting-new-condo-sales-whatever-it-takes/ The Portland Real Estate Insider Fri, 15 Jan 2010 03:58:53 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: Brat http://agent503.com/2009/08/15/boosting-new-condo-sales-whatever-it-takes/comment-page-1/#comment-103 Brat Sat, 05 Sep 2009 21:06:53 +0000 http://agent503.com/?p=2148#comment-103 Humm, it looks like 937 is worse off than the Atwater. They have a very long way to go to reach 50%, let alone 2/3 (the Westerly target Tom mentioned) I wonder when their lenders will pull the trigger.... The Encore is in a bad location because of the train noise. There is no salvation for that as a condo building. The Jefferson suffers from the reputation of a really busy corner and it is a low-rise. In practical terms it is right across from The Legends, but it doesn't have the hill panache. Humm, it looks like 937 is worse off than the Atwater. They have a very long way to go to reach 50%, let alone 2/3 (the Westerly target Tom mentioned) I wonder when their lenders will pull the trigger….

The Encore is in a bad location because of the train noise. There is no salvation for that as a condo building.

The Jefferson suffers from the reputation of a really busy corner and it is a low-rise. In practical terms it is right across from The Legends, but it doesn’t have the hill panache.

]]> By: Leigh http://agent503.com/2009/08/15/boosting-new-condo-sales-whatever-it-takes/comment-page-1/#comment-104 Leigh Thu, 20 Aug 2009 17:53:17 +0000 http://agent503.com/?p=2148#comment-104 Brat, there was a moratorium on foreclosures the first quarter of 2009. Just wait and see what happens now. As far as 'few' foreclosures check out Agent 503's list: http://agent503.com/foreclosure-files/ Note that these are for each WEEK! And as prices continue to decline, especially in the condo market, more and more folks will be upside down in their loans and very tempted to send jingle mail. Brat, there was a moratorium on foreclosures the first quarter of 2009. Just wait and see what happens now. As far as ‘few’ foreclosures check out Agent 503’s list:

http://agent503.com/foreclosure-files/

Note that these are for each WEEK!

And as prices continue to decline, especially in the condo market, more and more folks will be upside down in their loans and very tempted to send jingle mail.

]]> By: Brat http://agent503.com/2009/08/15/boosting-new-condo-sales-whatever-it-takes/comment-page-1/#comment-105 Brat Tue, 18 Aug 2009 23:46:11 +0000 http://agent503.com/?p=2148#comment-105 I am watching this market too and hoping to buy a very livable core area unit for what I think is an affordable price for cash (when our own home sells in another community). The folks who bought within the last 4 years and who paid $500T+ are really in a jam but the number of foreclosures are few so far. It looks to me like the sellers who can 'meet the market' today are long time owners with small mortgages and developers. I am watching this market too and hoping to buy a very livable core area unit for what I think is an affordable price for cash (when our own home sells in another community). The folks who bought within the last 4 years and who paid $500T+ are really in a jam but the number of foreclosures are few so far. It looks to me like the sellers who can ‘meet the market’ today are long time owners with small mortgages and developers.

]]> By: agent503 http://agent503.com/2009/08/15/boosting-new-condo-sales-whatever-it-takes/comment-page-1/#comment-107 agent503 Mon, 17 Aug 2009 21:29:09 +0000 http://agent503.com/?p=2148#comment-107 This is true for the most part i.e. a bank that is not associated with a development (e.g. via construction loans) will typically not lend to condo buyers if the building is less than 50% occupied. However, if a bank has been involved in construction lending, they typically have financing programs in place for buyers (e.g. Wells Fargo at the Encore). This is true for the most part i.e. a bank that is not associated with a development (e.g. via construction loans) will typically not lend to condo buyers if the building is less than 50% occupied. However, if a bank has been involved in construction lending, they typically have financing programs in place for buyers (e.g. Wells Fargo at the Encore).

]]> By: Himong Wo http://agent503.com/2009/08/15/boosting-new-condo-sales-whatever-it-takes/comment-page-1/#comment-106 Himong Wo Mon, 17 Aug 2009 20:41:50 +0000 http://agent503.com/?p=2148#comment-106 I heard that some lending institutions are advising potential buyers against buying into less than half full new condo developments, either by not offering a loan or charging higher fees and/or interest rate? Is this true? I heard that some lending institutions are advising potential buyers against buying into less than half full new condo developments, either by not offering a loan or charging higher fees and/or interest rate? Is this true?

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