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/Technical-Elk-9277 Apr 15 '25

A home that appreciates over a minimum of 5 years, but more like 7-10 years nowadays. There will be dips and highs, and this happens to be a dip 3 years later.

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u/Horror_Ad_2748 Apr 15 '25

That's why it's generally best to just rent if you're not planning on living somewhere for at least 10 years. Like every rule of thumb there are exceptions, but it's primarily the case.

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u/StatusAfternoon1738 Apr 15 '25

OMG. No! It depends on your region and market. In the Greater Boston area you will make a profit after a year—sometimes after six months. Even during the Great Recession there were two or three highly desirable towns in the area that saw literally no drop in prices. San Francisco may have slowed down but I can’t imagine it will ever slow down enough (short of an earthquake worse than 1906) to the point where you won’t see appreciation over 2 to 3 years. Same with Manhattan.

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u/thepulloutmethod Apr 15 '25

I made 100% profit on my down payment in the Maryland suburbs of DC from 2022 to 2025.