Thinking About Purchasing a Condo as Your Home?

buying a condo as your homeIf you’ve been trying to decide how to finally own your home, buying a condo can be a good first step out of renting and into home ownership. There’s good news about condos right now, too. The National Association of Home Builders reports that the production of condominiums and apartments is at an all time high, since tracking began in 2003.

The latest Multifamily Production Index (or MPI) released in late August showed an increase to 61. The MPI is a measurement of builder and developer feelings about the conditions of the apartment and condominium market. It’s measured on a scale of 0 to 100 where a score over 50 shows that a majority of respondents report conditions in the market improving. Three elements are measured by the MPI: construction of low-rent units, market-rate rental units, and for-sale units, or condominiums. The for-sale component scored 58, which is the highest score since 2005, indicating that choice in is available when looking for a condo as your home.

Consumer demand for condos is increasing and builders are answering that demand by building. There was a dearth of new units being built during the housing downturn. With the increase in production, there are more options for people looking at buying condos.

If you want to own property but don’t want to deal with yard work or maintenance tasks and would like to keep your payments low, a condo may be the perfect choice for you! You may be surprised at the many options available for buying a condo locally and I’d love  to help you discover them!

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Thinking About Purchasing a Condo as Your Home?

Jerry and Rachel Hsieh

In the past 13 years in real estate and at the age of 38, Jerry has had the good fortune of experiencing all of this at some point and has established himself as one of the premiere AWARD WINNING Realtors in the industry. Jerry began his career at Coldwell Banker with incredible heat: He was named the top “rookie” agent his inaugural year with over $4.5 million dollars listed and/or sold (Most 1st year agents don’t complete any transactions). Since then, his real estate career has been non-stop and he has quickly become the realtor that other young realtors talks about. In 2010, in a down market, Jerry and Rachel sold 24 homes within a 1 mile radius of the Pico/Fairfax area. They have sold over 50 homes in the Picfair Area in the past 4 years, more than any other realtor. From 2011 until now, Jerry and Rachel’s Team has grown, as has Jerry’s experience and expertise.