When North Beach is inhabited, I think > there'll be a resurgence of
interest on the part of buyers, don't you?
> Maureen
>
It's not that there's not an interest in buyers, it's how much
someone is willing to pay to:
- live in as a first home.
- buy as a second (or more) home
- invest in the the future- will they cover their costs or can they
buy and hope for appreciation - as compared to all other investment
options in today's market.
You have Oceanfront which is great, in demand, and in limited supply.
Then you have a few hundred other housing options in AP. That number
couldonly increase as the maser developer sees the market AND as
other developers outside the zone continue to build in what will,
someday, become a better city then it is today. Will it be 2010,2015
ro 2030?
We mentioned this before, for a unit to be sold, you have to come to
the closing table. Take north beach, the developer has 12-15 units
available still, then in MLS there are a couple. For example, someone
in 06 (contract purchaser was looking to sell a unit for $1,250,000.
It is now at $999,000. NOt sure if this is the developer or a true
contract purchaser. So when this unit is ready to close, will they?
or another unit on the market since Feb for $1,100,000. Sounds nice.
a private 400 foot deck, 2 bedrooms etc. There's a 1 bed for sale at
525K at n.Beach. Assoc fees $400/month. You can rent one for $1800.
Rent a 2 bed for $2500.
There are already lots of housing/condo choices in AP - rentals, buys
etc.
If I am showing anyone something in AP and they me they are buying
for an investment, I try to keep quiet. But I am my mother's son, and
she's raised a good, honest kid.
AP is an interesting town. A place to buy to live in and enjoy. A
great beach with great people and a great downtown.
You make the call to buy and limit taking out money on a home equity
for the next year or 2.
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