There are 73 condos on the market in downtown St. Paul right now starting at $34,000 and going up to 2.8 million for a Penthouse in the Lowery condos building on St. Peter street.
There is a lovely condo on the 45th floor of the Airye in downtown St. Paul for just under 900K and a lovely condo at one of my favorite buildings The Great Northern Lofts for $629. What can you buy for $34K? A one bedroom with a little over 700 square feet of living space. Cheaper than rent and for those who work downtown the short walk to work could save time and money.
Some people reject the idea of buying a condo because they do not want to pay association dues. It is a good idea to find out what the dues cover. In some cases the dues are a bargain. The association rules are another matter. Condo buyers are given a chance to look at the rules before they commit. Read those documents carefully boys and girls. You may find out that you can not place a flower pot on your own railing and that the only pets that are allowed are goldfish or there rules may be non-existent and you may find your self living in close proximity to someone who plays the tuba and raises snakes in their unit.
As for the chart it is safe to predict that we will not see as many sales as we saw in 2010 or in 2009. Get ready for a new low.
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Similar market here in Atlanta. You really do have to read the docs. I recently went through the docs with a client and found that they could only put up white blinds. They may be tedious to read, but are necessary…