“I’m waiting for the seller to bring down the price at least 10 percent, to include a $65,000 parking space or a year of free assessments. It’s a buyer’s market.”
– Nirali Shah, a 29-year-old pathologist assistant who tells the Trib she won’t close on a condo until a developer ponies up some incentives.
Although the sale of new downtown condominiums dropped 35 percent in the third quarter of 2007, new units are still on the way. Gail Lissner of Appraisal Research Counselors expects almost 6,300 new units to be completed this year, 50 percent more than in ’06 completions and 100 percent more than in ’05, according to the Trib. More than 1,300 of those new condos are still on the market.
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Quote of the day: Affording to wait
“I’m waiting for the seller to bring down the price at least 10 percent, to include a $65,000 parking space or a year of free assessments. It’s a buyer’s market.”
– Nirali Shah, a 29-year-old pathologist assistant who tells the Trib she won’t close on a condo until a developer ponies up some incentives.
Although the sale of new downtown condominiums dropped 35 percent in the third quarter of 2007, new units are still on the way. Gail Lissner of Appraisal Research Counselors expects almost 6,300 new units to be completed this year, 50 percent more than in ’06 completions and 100 percent more than in ’05, according to the Trib. More than 1,300 of those new condos are still on the market.
AUTHOR: Joseph Askins