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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Clever Nick Name who wrote (81664)	7/22/2007 9:40:52 PM
From: jrhana	Respond to of 306849

Thank you for laying out some of the pitfalls. Definitely will require a lot of research, and one needs to be prepared to face some stiff carrying charges. And a good lawyer will be needed to review any contracts signed. I still think there will some future money to be made.

To: Clever Nick Name who wrote (81664)	7/23/2007 9:37:17 PM
From: kathtoo	Respond to of 306849

In the mid 1980s in Anchorage Alaska out of state investors were buying up condos for 10 - 15 K per unit (units that had previously sold from 60 - 85 K. They bought enough units in the same project and did indeed dissolve the h.o. assn. Sounds like lawsuits a plenty if the original builder tries to thwart a majority vote on dissolving the h.o.assn. But you could also make a case for the owners that hang in there and don't want their complex converted to apt. building. In Anchorage, the banks took back most condo units at least two times and often 3 or more times, on the spiral down. It took years and years to recover.