[BroadHopper]

Thibeault says it is a buyer's market yet Sanborn a while back says otherwise.


I do know that many condo units end up leased when they don't sell. My development a decade ago did not allow leasing of properties. Now a good share are leased and the association will not take a stand after a couple of foreclosures left the association absorbing the back payments of dues.


The downward spiral of unit prices have slowed down but have not hit bottom.


I am looking to sell but at a big lost. I am also looking at another association, where one unit was sold two years ago for $190K. A similar unit is on the market today for @224K. Is the owner dreaming? Or he has a realtor that sucks him in with a dream?


My family sold the lakefront property in 1998 for $300K, The new owner ‘flipped’ the property around 2005 for $1.3M. The property was foreclosed in 2008 and the bank received $700K. Then the property was sold for $500K in 2010. The current owner tore down the 1892 fishing camp that was once the brakeman’s house for the old Lake Shore Railroad. I was told the new structure price was about $400K. Will the current owner get his investment back? Or will he take a bath? I was told he is in the business of ‘flipping’ properties.