Condo Sales and Foreclosures
Posted by Ashley Derrick on 02/7/10 in For Sale, Foreclosures
I thought I would post an article about condo sales from the AJC. It, of course, says what we have been thinking - that condo sales are way down, but it is an interesting article and discusses the fact that maybe, just maybe, if these developers continue to slow down the influx of new condos, that the condos currently for sale - will, alas - sell!
I also do not know if you heard that the Mansion on Peachtree (pictured below) has officially gone into foreclosure and was bought today - are you ready? - for $66 million - a massive 65% drop from the estimated $197.4 million in total loans for the project. OUCH
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johnny | Mar 12, 2010 | Reply
Wow 66% drop, it must hurt. I think that developers should stop building condos until we sell what is on the market.
AJ | Aug 12, 2010 | Reply
I’m generally not one to post my opinion on people’s sites, but for this write up I simply had to do it. I have been browsing through your site a lot nowadays and I am really impressed, I think you might potentially become one of the main voices for your market. Not sure what your workload is like in life, but if you started committing more time to posting here, I would bet you would begin getting a lot of visitors eventually. With advertisements, it could become a nice reserve income stream. Good luck!