Barbara Lickness wrote:
"The building across the street from has converted to condominiums. The 1 bedroom condos range from $70K - $120K. Calculating 100% of the cost of the condo at a 5.75% interest rate I arrive at a monthly payment of $408 - $700. The association dues on this building run a little over $100 month.
That seems pretty affordable to me. Way cheaper than paying rent for a one bedroom
apartment."
--------------------------------------------------
My little block of the Wedge is being converted into condos--my apt
included. The marketing brochure lists prices of $119,900 to $249,000
for a one bedroom and $164,000 to $329,000 for a two bedroom. There are
lots of incentives being offered to current tenants, but no one I've
talked to is interested in staying. We all have our reasons for renting;
saving to buy a house doesn't appear to be one of them. Not to mention
the fact that these developers plan to "tear everything out--down to the
studs--and start over." That means, to me, that in order to stay, you
first have to leave.We are all going to have to leave by the end of
January 2006.
I'd say more, but I have to keep packing.
Cindy Lindau
tip o' the Wedge for now
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