Appreciating at Super Fast Speed???? One just sold in my development for over $60,000 more than I paid last March!!
DjPiLL
Posted:
Member since
Re: Is Everyone Elses Co-Op........
They are appreciating like crazy because people have this 'I gotta own something... can't rent' infatuation.
Since housing prices are really rising like crazy.... its putting more and more people out of the housing market... and into the co-op market.
Not that co-ops are a bad decision. They are an excellent investment if the money works for you.... and ASSUMING you get into a very financially strong co-op. Buying into a weak co-op can lead to some bad things down the road (huge assessments, big maintenance hikes, etc.)
And you won't see me complaining about rising prices.... ive made quite a few buks off the co-ops I have owned.
anjerandunder
Posted:
Member since
Re: Is Everyone Elses Co-Op........
ours went up 23,000 and we haven't even been in it a year..i'm so glad we bought !!!!!!!
AnniesSS
Posted:
Member since
Re: Is Everyone Elses Co-Op........
My parents bought our's when the first went for sale - 15 years ago... needless to say, it's gone up tremendously over the years which is awesome, cause now it's for sale.
nov04LIbride
Posted:
Member since
Re: Is Everyone Elses Co-Op........
Our condo went up $60000 since we bought last July. There's one on the market now for $70000 more!
Stefanie
Posted:
Member since
Re: Is Everyone Elses Co-Op........
We bought ours at 63,500. We could sell it now for about 130,000. It's a one bedroom too.
Moehick
Posted:
Member since
Re: Is Everyone Elses Co-Op........
Oh DJ what happened? Your avater was a no no?
RedHead
Posted:
Member since
Re: Is Everyone Elses Co-Op........
i have a Condo and YUP! LOVE IT....UP UP AND AWAY!
Mine has more than doubled!
WeddingsRock
Posted:
Member since
Re: Is Everyone Elses Co-Op........
We bought in 10/04 for 250,000 in the city. 1 bedroom. Recent appraisal went for 397,000. Now that is what I call a return. To boot, we did very little work on it!
white-wolf
Posted:
Member since
Re: Is Everyone Elses Co-Op........
THe co-op we are signing the contract for soon, appraised for $3,000.00 more than what we are paying; not much, but I guess its better than nothing. I also read over the appraisal and the same apt. went up $25,000 in less than a year, so I am taking that as good news.
DjPiLL
Posted:
Member since
Re: Is Everyone Elses Co-Op........
Posted by Moehick
Oh DJ what happened? Your avater was a no no?
Yup. The avatar police made their rounds.
My buddy Pete at my office won the pool on how quickly it would be taken down.
August2004
Posted:
Member since
Re: Is Everyone Elses Co-Op........
Dh bought the co-op in July 2003, by May of 2004, they were selling for $100,000 OVER what he bought his for and I thought what he paid was crazy. However, our location is ideal.
palebride
Posted:
Member since
Re: Is Everyone Elses Co-Op........
I don't think our's has gone up that much
Moehick
Posted:
Member since
Re: Is Everyone Elses Co-Op........
Posted by teach2be
Dh bought the co-op in July 2003, by May of 2004, they were selling for $100,000 OVER what he bought his for and I thought what he paid was crazy. However, our location is ideal.
