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Is condos in turtle ridge appreciating in the next year?

I own a condo in the turtle ridge community. The HOA is going through a litigation with builder for some defects and it's affecting the mortgage for buyers. Should I sell it to all-cash investors or hold on to it for 6mon- to year for them to settle and hopefully prices rise?
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May 02 - Turtle Ridge
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Answers (1)

While no one can say for sure what will happen, the consensus view is that prices will rise, albeit slowly, over the next few years - see the Zillow report at http://www.zillow.com/research/home-value-expectations-2014-q1-6265/  for more on what economists expect. The litigation may restrain price rises in Turtle Ridge, but probably won't cause them to drop.

HOA Litigation does make it much more difficult to get a mortgage because most lenders won't lend, but there are companies that do, usually for a higher rate and fees plus a longer escrow period. There are also cash homebuyers out there who aren't necessarily expecting a discounted price as cash investors would.

Whether to sell now or wait really depends on your motivation. If you don't need to sell right now, then waiting out the lawsuit would probably be the easier path to follow. If you need to sell, it may cost you some amount (estimate 1-2%) to make up for a financing buyer's higher mortgage costs. That being said, there is so little inventory in Turtle Ridge that it may not affect the price at all.
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May 02
 
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Is condos in turtle ridge appreciating in the next year?
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