Press The Start Button on a Condo Purchase

Money recently reported that median condo prices are stabilizing in a number of cities. After a nationwide decline in condo prices of 20% or more, March 2010 sales were up approximately 40% over the same time period last year.

Supporting a new wave of condo activity are low mortgage interest rates and an abundance of high quality condo units in the market. Buyers fortunately have many options.

Qualified buyers have somewhat less competition than usual since government backed loans presently have stricter loan eligibility criteria. Many realtors believe the condo market is finally at a bottom and that buyers are in a unique position to secure luxury properties at a considerable discount.