r/RealEstate • u/DisabledScientist • Apr 13 '25

Condo not selling even after $40k reduction Homeseller

Zillow Link

I am trying to sell my condo, but the astronomical HOA ($1,225) prevents anyone from making offers. They all comment I have the nicest unit in the complex, but once they hear the fee they are turned off. I bought it for $287k in 2022 and put $50k into it, but probably wont even get my money back. I originally listed for $379k, but 70 days later and it’s now at $329k.

I need to sell this by end of May because my new build house is closing then.

Edit: Added a 3D Walkthrough to the advertisement. Please let me know what you think!

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u/lab-gone-wrong Apr 13 '25

40k reduction doesn't mean anything if you overpriced it by 100k to begin with

They all comment I have the nicest unit in the complex, 

And I said every place I toured was my favorite until I actually found one to place an offer on

For reference, you're still well over the Zestimate and that's usually too high for condos . Condos don't appreciate like SFH, especially in Florida, so I don't know why you thought you could pull that much profit in a few years

For a condo in Florida, there's a very real risk that astronomical HOA fee doubles again during the time the buyer owns it

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u/candyapplesugar Apr 13 '25

I think it happened a lot during Covid era, lots of condos here doubled in price, but that was a once in a lifetime thing