Tossing Up Red Flags Faster Than I Can Down A Martini
Being on the inside track of the Center City condo market, I am at the epicenter of buyer feedback and I am privy to their thoughts and I see what buyers consider to be red flags. Here is what they are telling me. This list could also be called ” Things My Condo Buyers Quickly Reject:”
1) A condo with a two-story spiral staircase
2) Poorly kept common areas of low rise condo buildings
3) Low owner occupancy ratios in any size condo association
4) Lawsuits against the association
5) An unusually high “days on market” for units within the building
6) A clear lack of upkeep and maintenance for any size building. Buyers are usually acutely aware of the lack of upkeep and have little trouble identifying such buildings.
Certainly there are a plethora of reasons why a buyer will buy or reject any given condo here in town. The above list of six examples are the most common that I see.