Deadbeat bankers

They foreclose on condo units then neglect to pay association fees. Condominium ownership looks less  and less attractive these days as the risks rise – you’re at the mercy of your fellow homeowners to pay for maintenance and capital assessments and if those owners lose their jobs or are replaced by a national bank, you’re screwed.

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4 responses to “Deadbeat bankers

  1. Hermitious Crab

    Condos have been a bad idea since the creation of the associations. Dick-less dweebs aka condo commandos create ridiculous rules and get their jollies making people miserable. Did it once, never again.

  2. Anonymous

    yep, it behooves one to do ones homework. peg

  3. REALLY Bored On a Rainy Day

    Looking through the Raveis site, I came across this listing and fell off my chair. First of all, the house is a 1962 ranch but in realtor-speak it becomes a “brick manor home”. Secondly, what is going on with the pricing? “Started” at $16m (for 1.5 acres mind you), now “reduced” to $9.9m at a staggering $1793/sf. Are these sellers crazy and I ask, like you posed in a previous thread, what agent takes a listing and says, sure let’s try $16million?
    http://www.raveis.com/eprop/98460110/_greenwich_ct/

    • That’s 31 Vista Drive (not a Raveis listing, which I’m sure they’re happy about). It’s been rented out and looks it, but essentially, it’s a land sale. So what’s a 1.5 acre in the R-20 zone on the cove worth? Obviously not worth $16,000,000 and it’s not flying off the shelves at $10,000,000, so we’ll see. Eventually.