Posted by Killer Joe on March 31, 2005 at 14:19:31:
J,
If you have been not only reading, but also understanding, than you are aware that the principles apply to condos as well as to other properties. If you ‘buy’ right, the property doesn’t care.
Having said that, you should be aware that in my market, SoCal, when things slow down and/or start to slide, condos lead the charge and continue ahead of the pack, all the way down the slope, and are the last to start regaining value. Study your market a little to find if this applies.
Faced with ‘no action’ or ‘taking action’, I believe you should take action, and if that means a condo, go for it. Just treat it like you would any other prudent purchase, and you will be on your way.
Remember, the first pickle out of the jar is the hardest to get out.
Good Luck,
KJ