Co-Ops and Condominiums were once extremely popular, particularly with folks who wanted a home with less upkeep.
The problem is that many management companies have slowly built a horrible reputation over the years. The staff members have no education and prefer to lie and drink while their reputation precedes them. To add insult to injury, they are reportedly falling out of favor and value with buyers, and worse yet, as their association fees increase, demand isn’t keeping up.
Condos are as good as their board members and the management companies they hire, like this one in Mount Vernon, NY.
Read the following HSC stagings, https://www.yelp.com/writeareview/biz/ofXF0IINeX8PJ5Yy_Vc-og?return_url…
I believe that condos in many places have a higher likelihood of losing value over the next year. This will be primarily due to an oversupply of this type of housing in many areas of dominant influence.
These units were the preferred housing type for many for a while. It’s now a simple matter of supply and demand.
Whether you’re searching for a long-term investment and want to make sure you’re not buying a money pit or you’re thinking about buying your first home, it’s important to choose the right property type.