How condo prices vary

[Albertritchot]

In multi family condo properties, it seems as if prices hold up initially when condo fees are low (first 2 or three years) and subsequently become soft. I notice this in Airdrie properties on MLS.

My question is this: are condos generally a poorer investment than a duplex. Is the price of a condo significantly affected by th rise of condo fees? If so, is it always better to purchase a condo at the height of the rise in the condo fees? (example, Point of View type properties)

Any advice on this would be appreciated.


Albert

 

[Thomas Beyer]

QUOTE (Albertritchot @ Nov 19 2009, 08:40 PM) ..

My question is this: are condos generally a poorer investment than a duplex.
usually .. but not necessarily as it depends on price, area, upside ..

QUOTE (Albertritchot @ Nov 19 2009, 08:40 PM) ..
Is the price of a condo significantly affected by the rise of condo fees? ..
yes .. but only if unusually high as it may indicate a deficiency .. usually indicating a seeding of the reserve fund has to happen or high utilities !

Condo values are affected by supply and demand and affordability and interest rates and in-migration and area and size and view and mortgageability and seller`s motivation .. just like a house/duplex !

The question is somewhat too vague !

What is better ? A used VW or a 6 year old BMW ?

 

[neill]

QUOTE (ThomasBeyer @ Nov 19 2009, 08:55 PM) What is better ? A used VW or a 6 year old BMW ?

Hi Thomas:


BMW guy couldn`t resist the semi-thread hijack.... the answer is: the 04 Bimmer! "All cars are new once - a BMW is a BMW forever....." - nothing handles, drives and performs like one (not that I am biased or anything....)

(The real answer of course is: it depends.....)


Neill

 

[Thomas Beyer]

QUOTE (neill @ Nov 19 2009, 09:55 PM) Hi Thomas:


BMW guy couldn`t resist the semi-thread hijack.... the answer is: the 04 Bimmer! "All cars are new once - a BMW is a BMW forever....." - nothing handles, drives and performs like one (not that I am biased or anything....)

(The real answer of course is: it depends.....)


Neill
I see .. a 2 year old Passat is not better than a 6 year old beemer ??

 

[housingrental]

I`d take the two year old Passat over non m 6 year old bmw

 

[neill]

QUOTE (ThomasBeyer @ Nov 20 2009, 10:56 AM) I see .. a 2 year old Passat is not better than a 6 year old beemer ??


Hi Thomas - if you measure "better" by driving dynamics, fun to drive, performance, handling, the 04 wins hands down.

If you measure "better" by value for $ vs new originally, warranty remaining, toys and trinkets, then the Passat wins hands down.

I tend to put more emphasis (again I am admittedly biased) on driving experience, hence my leaning towards the Bimmer - we have so many clients that after purchasing their first one come back later and tell us "I get it now", when we talk about driving experience, and I have had plenty tell me "Everything else prior to this has been mere transportation, like an appliance"

In the case of the Passat, a darn decent washing machine, but drive one back to back with a BMW and you will see.....


Again, the true answer is "It depends", as both sell in their respective market segments well used. (new is another story....)


Cheers!
Neill