Friday, August 11, 2006

Downtown Condo at Village Walk sells for less than 2004 Value - #308

Village Walk in Little Italy joins the list of downtown developments that has had a condo sell for a loss.

Resale Price: $600,000
Cost: $643,600

Loss@6% Sales Expenses: $79,600
Loss%: 12.37%

Resale Date: 05/15/2006
Purchase Date: 08/10/2004
Holding Period: 21 months

Bedrooms: 2
Bathrooms: 2
Square Feet: 1228

Purchase & Resale Details: view


powayseller said...

Mr. Brightside, I sure enjoy reading your posts. How do you get this information - is it a lot of work every day?

I have a request. Could you give more info on each property you lists, i.e. age and a grade (A = desireable, F = a dud), whether it has a view, or anything you seem important. I only ask because I am not too familiar with these, the locations. I have never been inside a single downtown condo, so I am not sure if these foreclosures are real old condos that nobody wants to buy, or if they are new beautiful luxury units with views of the harbor.

Mr. Brightside said...

hi powayseller,

I have some tools that I've developed that help me track the marketplace. I've probably spent 100+ hours and about $1,000 in hard costs.

I've been watching the market for a long time and just started the blog on a whim one night since I found these examples very interesting I figured others would as well.

I have been in virtually every downtown building and know the city extremely well, not just the real estate market.

In fact I've been working on another blog which is city oriented and doesn't relate to real estate values. Perhaps I can do a write up on each building and then post links to it when I put up a post on this blog to help give non-downtown people a better sense for the buildings and neighborhoods.

Here's the new blog:

I will say that pretty much everything on the site so far are all decent condos since there aren't any condo buildings downtown that are very old. Marina Park and Park View are the oldest and are entry level. Of course there is a spectrum of quality and I'll work on a way to illustrate that.

Anonymous said...

Can you provide a link on this blog to your other blog? I like your blogs and have this one bookmarked, would be good to switch back / forth directly from this page instead of adding bookmarks. Thanks!!

Mr. Brightside said...

Hi Anon 11:18,

I'll do that, I'm planning on making some small changes to the site probably tonight so look for a "Links" section soon.

In the meantime my other blog is here: