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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Valuepro who wrote (62711)	1/4/2009 12:47:51 PM
From: goldsheet	Respond to of 78426

RE: lower interest rates may be helping both the home sellers, and the condo developer. Lower interest has helped refinancing, but not much buyers. Condo development is going in reverse. Investors are buying lots of units and turning them into rentals. If you pay $100K per unit, it's about $500 mortgage + $250 HOA + taxes < $1000, while rents are $1200-1500+ In a few cases, they bought out all the empty condos in high vacancy complexes, made offers to rest, then did full apartment conversions. Some of these former apartments were average, got upgraded as condos (granite counters, nice fixtures, etc..) and are going back as higher quality rentals.