Most condo conversion in the Portland area are done in 3 phases, and if you are in the first phase you can have great appreciation over the first year of ownership.
You see, when an owner does a condo conversion project, the owner does it in three stages to set up momentum for himself. The first phase is introductory phase and prices are designed to bring in the first owners and put cash back in the owners pocket from doing the first of the conversions
The second phase is a little higher priced now that the project has been established and is starting to show pride in ownership. The more rentals you have, the less they take care of the property versus being an owner.
The third and final stage is the highest priced phase. Almost 100% owner occupied now and if you don't hurry you won't get one. Supply and demand have driven prices up at this point. The owner is looking to make as much as he can for your procrastination, so he can make more and use it on a future project's estimated repairs.
So jump on a phase one condo conversion project and in less than a year your property maybe worth 10-15%more than when you bought it.
For more information on buying in a condo conversion project or to do a condo conversion, please feel free tocontact me anytime for more information.
Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8738
Todd@IFoundYourNewHome.com
http://www.ifoundyournewhome.com/
Todd Clark and the Friendly Home Team
Knipe Realty
Todd@IFoundYourNewHome.com
Phone: (503)524-9494
Fax: (503)622-8739
I am a licensed Realtor who specializes in Washington County, Oregon and also work in both Clackamas and Multnomah Counties including the cities of Aloha, Beaverton, Canby, Clackamas, Gladstone, Gresham, Happy Valley, Hillsboro, Milwaukie, Oregon City, Sherwood and Tigard.
All information contained in these posts are copyrighted and cannot be used without prior written approval authorization from the author me Todd Clark. If you are looking for an outstanding agent please give me a call I would love to help you with all your real estate needs.
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