Aventura Real Estate: Good News for Portsview Condo Owners – Maintenance Fees went Down
Jan 6th 2009
Categories: Aventura, Community Information, Condo Communities, Real Estate News
hi
Portsview - Pool view
First week of the month. Same routine. Time to pay bills … Surprise!
This morning I walked into the office of Portsview at the Waterways with the intention to pay my first maintenance fee of 2009. As I was writing the check, I asked the girl for the amount and to my surprise, my maintenance fee dropped.
This is an example of what an excellent management like the one at Portsview can do for their homeowners.
Market Report
So far, in the last quarter of 2008, Portsview, Harbor Towers and Harborside Towers – all together – reported the following activity:
|
PERIOD 2008 |
# Of Homes Sold |
Pended Sales |
Available for Sale |
Average DOM Days on the Market |
Median Sales Price |
|
Oct-Nov-Dec |
3 |
1 |
14 |
182 |
$373,064 |
With more than 500 units in all three complexes, the above number indicates what is happening in a healthy development.
Today, I was asked by a customer and friend of mine if it was as bad time to purchase a condo as it is being said by the media.
Lately, we have been hearing in the news that it is highly risky to invest in a condo. What could happen to your maintenance fees if some owners -including foreclosed units and short sales – do not pay their fees?
Well, the remaining owners will end up paying higher maintenance fees and special assessments in order to keep the building going.
So far that is true, but common sense dictates that this has to be addressed building by building. We all know that there are some areas, and specifically some condominium associations that are hurting. But not all of them.
So the opportunity is out there, for all those savvy investors and buyers who do their homework and purchase well-priced units in healthy associations.
Ready to buy a condo? Contact me for further information regarding the building financials and recent market activity before making an offer. I will gladly guide you through the entire process.
