1. Trouble logging in? Send a message with your username & email address for help.
    Dismiss Notice

Summer Place Townhomes

Discussion in 'Real Estate' started by deasnealy, Sep 13, 2014.

  1. deasnealy

    deasnealy Beach Lover

    Joined:
    Oct 21, 2010
    Messages:
    66
    Likes Received:
    6
    I noticed one of these has hit the market with an asking price of 450k. It appears there has been a comp in that range. I know most of these hit the market after foreclosure in 2013 for around 315k. Nice profit potential for the seller.

    I have seen a number of similar townhome projects in the area with the flat roof. One was unfinished for a long period of time in Blue Mountain. Does anyone know who built them and is the construction quality up to par? I like the basic look of the units but I am very concerned they may be built shoddy and wonder if they have problems with the flat roof terraces leaking?


    Thanks in advance
     
  2. Matt J

    Matt J SWGB

    Joined:
    May 9, 2007
    Messages:
    21,910
    Likes Received:
    2,201
    Flat roof = problems

    Keep looking is my best advice. Especially since most of those sat empty and partially finished after the boom. I believe the bank actually extended loans just to get them weathered in, but I'd still be leery of those.

    Originally built by fly-by-night contractors from Tennessee.
     
  3. deasnealy

    deasnealy Beach Lover

    Joined:
    Oct 21, 2010
    Messages:
    66
    Likes Received:
    6
    Thanks. I have always said flat roof is a no no and I assume it still holds true. Particularly, one that gets walked upon.
     
  4. dcgoz

    dcgoz Beach Lover

    Joined:
    May 12, 2008
    Messages:
    68
    Likes Received:
    12
    Very good intel. Thanks Local.
     

Share This Page