tag:blogger.com,1999:blog-7743716866219969625.post922177116371500001..comments2023-05-07T01:00:01.309-07:00Comments on Peter's Blog: Lake at WalnutPeterhttp://www.blogger.com/profile/03941429538627967466noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7743716866219969625.post-3810483671624845092009-07-08T13:57:55.329-07:002009-07-08T13:57:55.329-07:00Hi Jeffrey,
To me they still feel overpriced. Las...Hi Jeffrey,<br /><br />To me they still feel overpriced. Last time I spoke with them (it has been a while) they were not open to negotiating the price. <br /><br />If you take the 400k example, and assuming you have an 80k downpayment (which you will need until there are enough occupants to allow for FHA loans) then you are left with a 320k loan amount. Assuming a 30 year fixed at 5% interest, you would have about a 1700$ per month mortgate payment. Add in the HAO fees and it is around 2000$ per month. I am not sure if any utilities or insurance are included, but they may increase that amount even more. <br /><br />So for owning a 1 bedroom condo you would be paying at least 2000$ a month, a quick check on craiglist shows that there are plenty of 1 bedroom apartments availble for much less. However, there are many 'luxury apartments' in Pasadena that are comparable in cost, but it seems like these have a lot of vacancies, so they may be overvalued as well. The Archstone Del Mar Apartments come to mind.<br /><br />However, I am not a real estate professional. I am just another normal person waiting on the sidelines until home prices return to sanity. If it is your dream home and you plan on living there for decades maybe it would make sense to buy it.Peterhttps://www.blogger.com/profile/03941429538627967466noreply@blogger.comtag:blogger.com,1999:blog-7743716866219969625.post-37406011850444334162009-07-08T00:01:11.119-07:002009-07-08T00:01:11.119-07:00Hey,
I found this post via a google search on the...Hey,<br /><br />I found this post via a google search on the Lake @Walnut condos and am interested in your point of view of this residence. I went to see these condos yesterday and am interested in that same model floorplan as you (1 bedroom townhome setup). The asking price was 400K for 1st floor homes to 460K for top floor. However I'm wondering if they are willing to sell for lower given the current economic conditions. Whats your current viewpoint on these new pasadena condos? do u think they are a potential money pit/bad investment, or do u think they can be a good deal to be had at the right time? Your input is needed! thanksUnknownhttps://www.blogger.com/profile/13826689095507577324noreply@blogger.com