Wednesday, August 16, 2006

Downtown Condo at Treo #1313

This is the fourth unit at Treo to make the list. The MLS listing describes this unit as a rarely used vacation home with views from every room that has recently had $60,000 in upgrades.

The price was cut on July 14 from $680,000 to the current price of $649,000.

Note the loss calculation below does not factor in upgrades although clearly that's an additional loss in value.

Type: Listed on MLS(#066041054)

Resale Price: $649,000
Cost: $660,000

Loss@6% Sales Expenses: $49,940
Loss%: 7.57%

Purchase Date: 01/05/2005
Holding Period: 19 months and counting...

Purchase Details: view


Anonymous said...

I don't think talkin' bout upgrades is reasonable. Historically most upgrades didn't get back at sale as much as they cost to perform. So while yes the owner did spend the money, they should have had no realistic expectation to get it back.

Mr. Brightside said...

I agree to some extent which is why I don't factor upgrades into the loss figures.

I do think it's worth mentioning since upgrades do factor into the value to some degree especially at Treo as the units were very sparse to begin with as Intergulf doesn't produce a high-end product, it's more mid-level.