Condo Myths From CNN

Condos are more like stock compared to single family houses in that condos in the same development are easily comparable to each other. If a seller of a two bedroom condo in a specific building decides to sell for say $550 per square foot, then that per square foot sales price becomes the going market rate, since all 2 bedroom condos in the same building are substantially the same.


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"Remember the lust for Internet IPOs? Ordinary investors bid up the stocks of hot little companies that hadn't even registered their first sale yet. Today's version is a preconstruction condo, where investors jockey to get into a project not yet built, certain the units will jump in value when completed."


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