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Old 07-09-2012, 11:03 AM
 
13,586 posts, read 13,157,186 times
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Quote:
Originally Posted by macgeek View Post
Ok, maybe I don't understand something.
you BUY the condo for $50K, then Pay $500-1000 a month to live there?

Jonathan
A year or two ago, I saw lots of condos in nice areas such as Desert Shores going for under 50k. All-cash deals though. HOA fees varied from inexpensive to hundreds, depending on amenities.
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Old 07-09-2012, 11:09 AM
 
Location: Silicon Valley
3,681 posts, read 9,877,179 times
Reputation: 3016
Quote:
Originally Posted by macgeek View Post
Ok, maybe I don't understand something.
you BUY the condo for $50K, then Pay $500-1000 a month to live there?

Jonathan
High HOA fees like that are usually associated with newer luxury high-rise condos.

Nobody is paying that much for HOA fees in these cheap properties. Probably more like a couple hundred bucks, if that, and that goes to pay for security, maintenance of common areas, insurance, pool, exercise room, reserves for replacement of structure (roof, fences, etc). Once you've owned a home and written big checks for things like a replacement roof, a couple hundred a month doesn't sound so bad.
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Old 07-09-2012, 01:26 PM
 
12,973 posts, read 15,836,914 times
Reputation: 5478
Quote:
Originally Posted by macgeek View Post
Ok, maybe I don't understand something.
you BUY the condo for $50K, then Pay $500-1000 a month to live there?

Jonathan
Nah... 1000 Falconhead - 912 SF - 2/2 - $38,900 Association Fee $130 Cedar Rock Lane 1136 SF - 2/2 - $45,000 Association Fee $120 Both are gated with pool In LLV you can buy for $45,000 with $500 Association fees...but not on this side.
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Old 07-09-2012, 05:19 PM
 
Location: Vegas, baby, Vegas!
3,977 posts, read 7,653,285 times
Reputation: 3739
OK, thanks all for the Education

Jonathan
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Old 07-11-2012, 12:00 AM
 
Location: Tucson/Nogales
23,286 posts, read 29,145,078 times
Reputation: 32678
Townhouses in my 433 unit complex, built between 1969 & 1971, are still going for $25k+ at auctions. I know someone who just purchased one for $26k, 1320 SF, and is planning on spending $10k to rehab it. $135 a month association dues. Have lived here for 16 years, and have seen the prices ascend from about where I bought mine in 1996 for $72k, zoom to $200k during the boom, and then the hard crash!

I've always loved this area of town, 89121, with 6 grocery stores all within 6 blocks of my house, and bars you can walk to, and great bus service.
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