Okay, when I saw this this morning, I just had to mention it. There’s a little 8-unit townhome complex in my neighborhood (Kenmore) that I have mentioned on here a number of times in the past. Most recently, two of the eight units were up for sale. As of this morning, four of the eight are on the market. Here’s a brief summary:
|Unit||Last Sold||Sold For||Asking||On Market|
|#2 (7212)||01/2002||$209,950||$339,500||39 days|
|#5 (7218)||10/2005||$280,950||$345,000||75 days|
|#6 (7220)||12/2005||$300,000||$335,000||21 days|
|#7 (7222)||09/2001||$234,950||$339,500||1 day|
These nearly-identical 2 bed / 2.25 bath units are between 1,418 and 1,578 square feet and come with $191 a month in dues that apparently just pays for building upkeep (as in, there are no shared areas).
Just around the corner, a developer has dumped thirty-three 2 bed / 2.25 bath 1,325 square foot units on the market for $279,000 (according to their sandwich board signs anyway) as part of an 84-unit complex. These new construction units sport a nice shared park with a hot tub and all that rot, for monthly dues of just $142. Oh, and this ridiculous-looking ad that has been on their website for a month now claims that they’ll furnish it, too.
Anybody think the used townhomes around the corner have much chance of selling at $340k? It’s like watching a super-slow-motion train wreck.