Email All Condo Developments Are Not Created Equal
The Flashing Red, Yellow or Green Lights are an illustrative tool used to preliminarily indicate developments that may have issues which impact the desirability to many buyers. These objective elements should be considered as to any impact on future efforts to quickly resell the property and may also negatively impact future appreciation of the property in comparison to other developments over the same periods of time.
Green = Run… Don’t Walk
For the most part these developments don’t have definitive issues like atypically high HOA fees, litigation, known defects, too many renters or other similar issues that could adversely impact long term appreciation. However, there can always be individual units within every development that could have issues related to views, floors in the building, parking or floor plan/configuration issues that would make that particular unit a “Flashing Red” unitNote: There can always be individual units within every development that could have issues related to views, floors in the building, parking or floor plan/configuration issues that would make that particular unit a “Flashing Red” unit
Flashing Yellow = This One Is Complicated
For the most part these developments don’t have definitive issues like atypically high HOA fees, litigation, known defects, too many renters or other similar issues that could adversely impact long term appreciation. However these developments are either too new and therefore are unproven and typically also carry some sort of “baggage” or they are in the process of rebounding from prior issues and again it’s too soon to predict to when these issues, that have historically limited this development, will be 100% resolved. Because of that it’s more difficult to predict to what degree resale capabilities, as well as the timelines to resell these condos, when compared to how the downtown market as a whole performs. Note: There can always be individual units within every development that could have issues related to views, floors in the building, parking or floor plan/configuration issues that would make that particular unit a “Flashing Red” unit
Flashing Red = At The Right Price Every Property Makes Sense
For the most part these developments have definitive issues like atypically high HOA fees, ongoing litigation or a history of litigation, known construction defects, too many renters, too many condos owned by too few owners, an atypically low number of garage or outside parking spaces or other similar types of issues that might adversely impact long term appreciation, and future resale values as well as the timelines to resell the property when compared to how the downtown market as a whole performs.
USE THESE RESOURCES & TOOLS TO HELP YOU MAKE THE RIGHT MOVE IN THE GREATER INDIANAPOLIS AREA
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