Why doesn't my condo grow in value?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Condos are never a good investment.

My downtown condo and i beg to differ.

But I agree that a condo in a suburb is a risky investment.

Locat...

+1 Condo value in D.C. is way up. Burbs...no.

[Anonymous]

Anonymous wrote:I have a friend who owns a 3 bedroom in that complex and his HOA are $1000/month which seems crazy.

OP here. Our condo fees rae only $496 - we are in the garden style condos.

[Anonymous]

Anonymous wrote:I think it really just is that inventory has increased, some buildings along Rockville Pike have had more refurbishment and the market's moving a bit more slowly in suburban condo markets. I'll bet the world looks a bit different for your condo in a year when the Bethesda mkt starts to put more pressure further out and so forth.

Are you able to rent it out? I'll bet rents have gone up in that time...

OP here. Yes, the rents are up and I'm having no trouble renting it out at a nice price - have been for the last 3 years. That's what stomps me. How can the rent increase but not the property values?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I think it really just is that inventory has increased, some buildings along Rockville Pike have had more refurbishment and the market's moving a bit more slowly in suburban condo markets. I'll bet the world looks a bit different for your condo in a year when the Bethesda mkt starts to put more pressure further out and so forth.

Are you able to rent it out? I'll bet rents have gone up in that time...

OP here. Yes, the rents are up and I'm having no trouble renting it out at a nice price - have been for the last 3 years. That's what stomps me. How can the rent increase but not the property values?

Increasing rents with stagnant prices is due to tighter lending standards then in the past. Those that have to rent now were able to buy back in the day, this pushed up housing/condo prices. Now they have to rent .

[Anonymous]

Outside the beltway.
Various Maryland tax hikes.
Maryland losing businesses and corps, not business-friendly state and people try to live near their work.

[Anonymous]

Anonymous wrote:Outside the beltway.
Various Maryland tax hikes.
Maryland losing businesses and corps, not business-friendly state and people try to live near their work.

It seems people prefer to rent by their work, though. Like I said earlier - no trouble renting the place at all.

[Anonymous]

Anonymous wrote:

Increasing rents with stagnant prices is due to tighter lending standards then in the past. Those that have to rent now were able to buy back in the day, this pushed up housing/condo prices. Now they have to rent .

Yeah, but the neighboring properties are growing in value....

[Anonymous]

Anonymous wrote:

Anonymous wrote:Outside the beltway.
Various Maryland tax hikes.
Maryland losing businesses and corps, not business-friendly state and people try to live near their work.

It seems people prefer to rent by their work, though. Like I said earlier - no trouble renting the place at all.

Maybe they're renting because they don't feel secure in their job or that the company is secure.... Maybe it's moving!

[Anonymous]

Over supply of condos where it is. Are there new condos competing? Very hard to compete with new.

[Anonymous]

It went up. .
but you've missed the high of 2005-2006
then it went down. .
I sold many condos in and around Grosvenor

Real estate values ride a wave of economic conditions around you. .

The good news now. .I can assure you . .we are riding an upwards wave right now. .

You should monitor the value of your condo by simply subscribing to my website and ask for it. .

www.ReallyNiceHomes.com

Hope this helps. .

[Anonymous]

Anonymous wrote:Over supply of condos where it is. Are there new condos competing? Very hard to compete with new.

These condos are not competing with the new. They are about $200K cheaper - a completely different set of buyers.