August 31st, 2010 10:46 AM by AJ Gentry
I have a lot of buyers that I drive by One Park Place in Kansas City that ask, "how is that building selling". So, I wanted to share some research I have done for you.
Properties have been reduced dramatically at this development. Some have been reduced as much as $321,000. For example, a 2 bedroom 2 bathroom condo on the fifth floor that was once listed for $481,000 has been reduced to $270,000. Yes, you read correctly. I just picked this one to write about on this blog.
It is important to note that not all of the condos in this development have been entered into the Multiple Listing Service but from what has been entered:
1 is currently under contract, 24 have been recorded as sold and 45 are currently entered as for sale.
So, when buyers ask if this is a good investment there are always several things to consider. Yes, the new pricing makes this a great deal. One catch, the monthly HOA dues on the example above, 2 bedroom 2 bathroom offered at $270,000, are $698/month. If you like the best amenities and luxury is your style, One Park Place could be a good fit for you. You just have to remember that if you want to spend $270K on a condo, the monthly HOA dues are a bit higher than other condos offered in this price range. Other than that, you can snatch up a beautiful condo as much as 45% off!
*Information deemed reliable but not guaranteed. Subject to change.