Buying a Condo FSBO

Condo sales threatened by loss of FHA loans E-mail
Buying a Condo FSBO
Written by Mary Shanklin, Orlando Sentinel   

Orlando's condominium market, one of the hardest-hit in the country, faces further challenges because of federal policy changes that now limit mortgage financing for buyers seeking to purchase available units.

Of 68 condo complexes in the Orlando area, 44 have already lost a big part of their financial lifeblood: the mortgage-backing power of the Federal Housing Administration, which generates loans with some of the lowest down payments in the industry.

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Condo Deals Die in Shadows of Financially Distressed Buildings E-mail
Buying a Condo FSBO
Written by Mary Ellen Podmolik   

Condo buyers who sat out last year's real estate market, waiting for prices to bottom or their own financial footing to improve, find themselves in an enviable situation. 

Prices have plunged, and mortgage interest rates, while slowly rising, remain near 5 percent, creating the best home affordability in decades for consumers who qualify for loans.
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Price Cuts Mount as Condos Linger in Chicago E-mail
Buying a Condo FSBO
Written by Mary Ellen Podmolik   

A trio of condo developments — one small, one medium and one large — announced price cuts recently as the market readjusts in a post-tax credit market and lenders show their nervousness about the summer selling season.

Price cuts in Chicago's condo market are nothing new, particularly downtown. Earlier this year, 565 Quincy, 200 North Dearborn, 222 E. Pearson and Metropolitan Tower all trimmed their advertised prices. Other buildings conducted auctions and then set new prices for the remaining units, based on the auctions.

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Buying Condos By Owner: Need to Know E-mail
Buying a Condo FSBO
Written by Joanne Cleaver   
  • Find latent sellers. In this buyer’s market, many would-be sellers are holding back. If the units you’re most interested in are not officially on the market…ask! Their owners might be delighted to strike a deal with you.
  • Work the built-in social network. Condo associations have newsletters, intranets and social gatherings that you can leverage to get the word out about your interest in buying.
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Federal Rules Wreak Havoc on Condo Sales E-mail
Buying a Condo FSBO
Written by Mary Ellen Podmolik, Chicago Tribune   

FHA loans are proving to be the bright spot of the housing industry, enabling many first-time buyers to enter the market at a time when tighter lending requirements otherwise would not allow them.

That is, unless they're in the market for a condominium.

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