Sanctuary at Redfish Preview Party this Sunday from 4-7pm

[Matt J]

No, it was a comment that your statement was not right and there have not been huge assessments every year.

Okay, maybe every other year? What are the reserves like? I'll bet twenty that they are less than $50,000 combined. What was the last assessment amount?

 

[STL Don]

Okay, maybe every other year? What are the reserves like? I'll bet twenty that they are less than $50,000 combined. What was the last assessment amount?

Instead of quizzing me for numbers, why don't you just get your facts straight before you throw out allegations?
I am aware of 1 significant assessment in the past 7 years.

 

[SHELLY]

Instead of quizzing me for numbers, why don't you just get your facts straight before you throw out allegations?
I am aware of 1 significant assessment in the past 7 years.

...how much, why and when?

.

 

[Matt J]

Instead of quizzing me for numbers, why don't you just get your facts straight before you throw out allegations?
I am aware of 1 significant assessment in the past 7 years.

If you know of it why can't you just post the amount? It might strike some people as though you have something to hide. So please, by all means, straighten me out. Oh and based on selling prices of less than $200,000 why don't you list any assessments you know of. I would say anything over 1% of my purchase price would be a large assessment. That would be anything over $1,000 based on the selling prices. Pardon me, but in addition to mortgage, insurance, utilities, and normal dues that would be a real pain in my arse.

 

[Kurt]

Don knows what he's talking about. Probably messing with you since you threw the project under the bus. Isn't $1,000 is a small investment? A significant assessment for a condo would be more like $10,000++ for major structural repairs, new siding, roof decking, etc.

 

[Matt J]

Okay I give, I guess Beachside Villas is just the most wonderful place on Earth.

 

[JoshMclean]

Really? I thought it was falling apart?

 

[SHELLY]

Really? I thought it was falling apart?

...you mean the condoze or the argument that carrying costs don't count?

.

 

[fisher]

Coming from one of the biggest bears on this forum, I would probably be willing to take you up on a friendly non-monetary wager. I think $400k for a 3/3 with 1800 sq ft on a beautiful dune lake is a pretty good deal. It would be interesting to know if these were acquired by end users or investors.

If they are underwater by much in two years, its because our economy has gone through a total nuclear meltdown (calling Shelly) and everyone in the country is up the creek.

Let's check back in two years. My guess is some of these condos will change hands over that time period and none will sell for less than these (but maybe not a lot more either).

Uh oh--saw two short sales in SARFish LISTED for under $400k. Guess they are going lower. Those auctioned properties don't appear to be quite the steal in hindsight.

And those cabanas that sold for $30k at auction--3 more recently sold for $20k apiece.

 

[30ashopper]

Uh oh--saw two short sales in SARFish LISTED for under $400k. Guess they are going lower. Those auctioned properties don't appear to be quite the steal in hindsight.

And those cabanas that sold for $30k at auction--3 more recently sold for $20k apiece.

A rough count shows eighteen of those condos showing Lis Pen foreclosure filings in the country records over the last 6 months.