We've had some great questions about Waterwood Townhomes lately and I wanted to, in addition to addressing them in private emails, post about the availability currently.
Currently there are two Waterwood Townhomes available on the market. One is a three bedroom/three bath offered at $146,500. The other is a four bedroom/four bath priced at $159,900. This, of course, is subject to change, and you should always check to see current availability. Right now is a great time to buy. Most of the parent investors have, of course, already bought and the students are back to school. If you are not going to carry a mortgage on the property it can be an excellent time to buy because it's a great time to negotiate those prices down! If you were going to carry a mortgage it's probably not a good time to buy because you will have on going expenses and no rental income until someone moves in, probably either in December or next July or August.
These townhomes have shown great appreciation in the last few years and are likely to show good gains in the future as well. To view these townhomes call Chris or Coti today at (979)574-1084.
Gig 'Em Aggies!!!!
Showing posts with label College Station condos. Show all posts
Showing posts with label College Station condos. Show all posts
Saturday, August 30, 2008
Sunday, August 17, 2008
College Station Condos
College Station Condos
Condos are one of the hottest segments of our market. Though we have some that serve small families and singles nicely, our primary condo market is student living. These can be one of the best investments a parents can make. Condos have many advantages over rentals during a students four to six years here at Texas A&M University.
Apprecation is king!
Though some of the scenarios for condos will have you paying just as much for your share as rentals you will walk away with appreciation of, typically 4-7% per year. A typical scenario (with your student paying no rent) is seen in Waterwood Condos. The first year offering for these wonderful 3 and 4 bedroom condos in a gated community was approximately $142,000 for a 4 bedroom, 4 bath condo in 2003. If you had financed this property with 20% down your payment would be $1039 plus the HOA fee of $120 per month (covers exterior maintenance, pool maintenance and lawncare) for a grand total of $1159. Divide this among the 3 other roommates and their rent payment would be under $400 per month. In this scenario if you sold this year you would sell for approximatly $160,000 or an increase of $18,000.
Avoiding the Moving Day Hassles
Students living in apartments and other rental situations often find themselves in the situation of having to move. If the owner of the condo that they are living in, in a rental scenario, has to move then they find themselves having to move as well. Moving is costly and takes time for you, and subsequently them. Buying a condo puts you in control of this potentially frustrating situation.
No Lawn Care WorriesLet's face it. When the kids were home they could do the lawn, but not without a bit of gentle reminding! Avoid this hassle by buying a condo as opposed to a single family home (though I do sell single family homes for students as well and we can go over the pros and cons). Relatively maintenance free you won't be receiving voilation notices from the city of College Station when you go with one of these beautiful properties.
Wide Variety of Options
College Station offers a wide variety of condo options ranging from one bedroom/one bath (typically older with a bit of remodeling needed) for as little as $40K up to a luxury property featuring 4 bedrooms and 4 baths for between $100K and $200K plus.
For your overview of the condo options and a free tour give me a call to set up your complimentary appointment at (979)574-1084, or my Buyers Agent, Coti at (979)575-7765.
Condos are one of the hottest segments of our market. Though we have some that serve small families and singles nicely, our primary condo market is student living. These can be one of the best investments a parents can make. Condos have many advantages over rentals during a students four to six years here at Texas A&M University.
Apprecation is king!
Though some of the scenarios for condos will have you paying just as much for your share as rentals you will walk away with appreciation of, typically 4-7% per year. A typical scenario (with your student paying no rent) is seen in Waterwood Condos. The first year offering for these wonderful 3 and 4 bedroom condos in a gated community was approximately $142,000 for a 4 bedroom, 4 bath condo in 2003. If you had financed this property with 20% down your payment would be $1039 plus the HOA fee of $120 per month (covers exterior maintenance, pool maintenance and lawncare) for a grand total of $1159. Divide this among the 3 other roommates and their rent payment would be under $400 per month. In this scenario if you sold this year you would sell for approximatly $160,000 or an increase of $18,000.
Avoiding the Moving Day Hassles
Students living in apartments and other rental situations often find themselves in the situation of having to move. If the owner of the condo that they are living in, in a rental scenario, has to move then they find themselves having to move as well. Moving is costly and takes time for you, and subsequently them. Buying a condo puts you in control of this potentially frustrating situation.
No Lawn Care WorriesLet's face it. When the kids were home they could do the lawn, but not without a bit of gentle reminding! Avoid this hassle by buying a condo as opposed to a single family home (though I do sell single family homes for students as well and we can go over the pros and cons). Relatively maintenance free you won't be receiving voilation notices from the city of College Station when you go with one of these beautiful properties.
Wide Variety of Options
College Station offers a wide variety of condo options ranging from one bedroom/one bath (typically older with a bit of remodeling needed) for as little as $40K up to a luxury property featuring 4 bedrooms and 4 baths for between $100K and $200K plus.
For your overview of the condo options and a free tour give me a call to set up your complimentary appointment at (979)574-1084, or my Buyers Agent, Coti at (979)575-7765.
Thursday, April 10, 2008
Condos or Townhomes? What's Your Choice?
Most of the time people in our area think of condos and townhomes as interchangable terms. They actually are not and can have strict implications when finding financing for your student housing needs.
Condos in Bryan or College Station have a shared association that maintains the exterior of the buildings and common areas. With ownership of a condo you own the airspace, but not the land, around your condo. You, as part of the association, do have a share of the land. With the purchase of a condo you do not need to have insurance with most finance companies. Despite their nonstringent requirements please get insurance. You still retain ownership of the sheetrock in. If a disaster occurs the association will be responsible for rebuilding the exterior of the structure. You will be responsible for the sheetrock, cabinets, fixtures and finish out of your property.
Financing a condo can have special implications, but typically only if you are using an FHA loan. FHA will want to ensure two things about the condo association. The first is that it is at least 51% owner occupied. You will not be able to get an FHA loan on a property that is primarily owned by investors. The second is that no more than 10% of the units are encumbered by FHA loans. It is an unusual case where there are more than 10% of a condo project that has FHA insured loans, but ensuring that your project isn't one of them can be difficult at best.
Townhomes are considered conjoined (typically) single family structures and have no strict guidelines. You may or may not have a home owner association that will provide common maintenance and maintenance of the exterior. You own the land under your unit and have no FHA guidelines specific to townhomes.
Why would you want to go FHA? That's for a different discussion! For more information about different aspects of the Bryan/College Station market go to my blog site at http:/www.BCSRealEstateNews.com. Please give Coti or I a call for all your buying or selling needs here in Bryan-College Station, whether it be a condo or a luxury home!
Condos in Bryan or College Station have a shared association that maintains the exterior of the buildings and common areas. With ownership of a condo you own the airspace, but not the land, around your condo. You, as part of the association, do have a share of the land. With the purchase of a condo you do not need to have insurance with most finance companies. Despite their nonstringent requirements please get insurance. You still retain ownership of the sheetrock in. If a disaster occurs the association will be responsible for rebuilding the exterior of the structure. You will be responsible for the sheetrock, cabinets, fixtures and finish out of your property.
Financing a condo can have special implications, but typically only if you are using an FHA loan. FHA will want to ensure two things about the condo association. The first is that it is at least 51% owner occupied. You will not be able to get an FHA loan on a property that is primarily owned by investors. The second is that no more than 10% of the units are encumbered by FHA loans. It is an unusual case where there are more than 10% of a condo project that has FHA insured loans, but ensuring that your project isn't one of them can be difficult at best.
Townhomes are considered conjoined (typically) single family structures and have no strict guidelines. You may or may not have a home owner association that will provide common maintenance and maintenance of the exterior. You own the land under your unit and have no FHA guidelines specific to townhomes.
Why would you want to go FHA? That's for a different discussion! For more information about different aspects of the Bryan/College Station market go to my blog site at http:/www.BCSRealEstateNews.com. Please give Coti or I a call for all your buying or selling needs here in Bryan-College Station, whether it be a condo or a luxury home!
Saturday, April 5, 2008
College Station Condos Going Fast!
Condos in College Station have been going fast this year. Sales are brisk in both the condo market and the 150K and below housing market. Waterwood, at this time, only has one condo on the market active and it is a three bedroom, three bath. The Woodlandsrecently sold it's last four bedroom, four bath condo. Fox Run still has many three bedroom, three baths, but only one two bedroom, two bathroom unit available. Canyon Creek has only experienced modest sales this year. Deacon Condos on Fraternity Row are completely sold out currently also.
If you are looking for student housing call or email! We can set you up on a search and call you or email you when anything comes available on the market for sale. We are full service Buyer's Agents and can show you anything on the market as well as negotiate the best price for you.
If you are looking to sell student housing give us a call and find out about our progressive marketing program.
If you are looking for student housing call or email! We can set you up on a search and call you or email you when anything comes available on the market for sale. We are full service Buyer's Agents and can show you anything on the market as well as negotiate the best price for you.
If you are looking to sell student housing give us a call and find out about our progressive marketing program.
Friday, December 28, 2007
Spring Time and the College Station Condos are Flying
It looks to be an early season this year with parents already calling about College Station condos that are on the market. Just today I spoke with four potential buyers and two potential sellers of College Station condos.
What makes your condo marketable? It's a combination of location, complex amenities, affordability and condition.
Your condo is only as good as the complex it's in. Most of the condominiums we have here have excellent market points, and some down sides as well. Emphasising the positive, while countering the negative is the best strategy. For the condos that aren't directly on shuttle route finding out how close the route is will typically work. Not many are built terribly far from our existing routes. Targeting ads to parents who don't necessarily feel that their student will want to ride the shuttle can work as well. In general the closer the complex is to Texas A&M University the better off you are. However we have some excellent complexes that are tucked away a bit and still sell for premium prices.
Most of our condo complexes offer a small recreation area and a pool. This seems adequate and we certainly haven't seen better statistics with condos that offer volleyball courts or on-site movie screening areas or carwashes. The one amenity that many students and their parents are looking for is the gated community. This always helps for resaleability.
Affordability is very important for students as well as their parents. In general most of our parents are looking for 3 bedrooms at $150K or less and four bedrooms at 160K or less. Homeowner Association Fees can come into play as well with lower fees and similar amenities winning out consistantly.
The condition of your condo is of prime importance. A unit that has been cared for well will sell rapidly and at the best price. Ensure that the carpet is clean and the unit is in good repair with paint touch-ups and frequent cleanings for the best price.
Call me today with any questions you have about this season's sales or listing your condo or home.
What makes your condo marketable? It's a combination of location, complex amenities, affordability and condition.
Your condo is only as good as the complex it's in. Most of the condominiums we have here have excellent market points, and some down sides as well. Emphasising the positive, while countering the negative is the best strategy. For the condos that aren't directly on shuttle route finding out how close the route is will typically work. Not many are built terribly far from our existing routes. Targeting ads to parents who don't necessarily feel that their student will want to ride the shuttle can work as well. In general the closer the complex is to Texas A&M University the better off you are. However we have some excellent complexes that are tucked away a bit and still sell for premium prices.
Most of our condo complexes offer a small recreation area and a pool. This seems adequate and we certainly haven't seen better statistics with condos that offer volleyball courts or on-site movie screening areas or carwashes. The one amenity that many students and their parents are looking for is the gated community. This always helps for resaleability.
Affordability is very important for students as well as their parents. In general most of our parents are looking for 3 bedrooms at $150K or less and four bedrooms at 160K or less. Homeowner Association Fees can come into play as well with lower fees and similar amenities winning out consistantly.
The condition of your condo is of prime importance. A unit that has been cared for well will sell rapidly and at the best price. Ensure that the carpet is clean and the unit is in good repair with paint touch-ups and frequent cleanings for the best price.
Call me today with any questions you have about this season's sales or listing your condo or home.
Friday, November 16, 2007
Three Secrets to Successfully Buying A Student Condo in College Station
Buying a student condo can be a great investment in College Station. Among the benefits are the increase in equity during the time your student lives there and the learning experience for your student. Watching you complete the purchase can teach them valuable information about real estate transactions.
How do you ensure a successful purchase, one in which the student is happy, you are happy and you are enroute to a gain during the years you own the property?
The first secret is to find an agent VERY familiar with all the condo and townhome projects around town and will familiarize you. All of them have their upsides and downsides and you need an agent that will discuss the pros and cons of each complex and educate you to what is available, and what has traditionally made good equity leaps. There are many choices in our town, and it is a huge mistake to make a decision without seeing what other complexes are available. Many people go for the latest development because of a nice brochure only to find out that their resale value isn't as high as their mortgage.
The second secret is to match the condominium with your students (and their friends) personalities. A more outgoing student sometimes will not be happy in one of our more sedate complexes just like a quiet student won't be happy in party central.
The third secret is to choose roomates very carefully. Sometimes long time friends make the worst roommates. Family, at times, makes the best roommates you can get. If cousins are attending together, and get along well together it can be beneficial. Good friends have often left their college condos never talking to each other again. Family is always family!
Chosen carefully a college condo can be an excellent investment and an asset to your investment portfolio. Call me to schedule a time to look at all your options!
How do you ensure a successful purchase, one in which the student is happy, you are happy and you are enroute to a gain during the years you own the property?
The first secret is to find an agent VERY familiar with all the condo and townhome projects around town and will familiarize you. All of them have their upsides and downsides and you need an agent that will discuss the pros and cons of each complex and educate you to what is available, and what has traditionally made good equity leaps. There are many choices in our town, and it is a huge mistake to make a decision without seeing what other complexes are available. Many people go for the latest development because of a nice brochure only to find out that their resale value isn't as high as their mortgage.
The second secret is to match the condominium with your students (and their friends) personalities. A more outgoing student sometimes will not be happy in one of our more sedate complexes just like a quiet student won't be happy in party central.
The third secret is to choose roomates very carefully. Sometimes long time friends make the worst roommates. Family, at times, makes the best roommates you can get. If cousins are attending together, and get along well together it can be beneficial. Good friends have often left their college condos never talking to each other again. Family is always family!
Chosen carefully a college condo can be an excellent investment and an asset to your investment portfolio. Call me to schedule a time to look at all your options!
Monday, August 20, 2007
College Station Condos
College Station Condos (also known as kiddie condos)can be an affordable solution for your Texas A and M students living while in Aggieland. The purchase of one of these condos can bring you appreciation and a lower cost of living for your student.
Depending on your circumstances and the amount you can put down, you might even be able to pay for your students living expenses and a large portion of their tuition with your College Station Condo
There are several condo complexes that are excellent around town. One of my favorites is Deacon Row Condos.
These three bedroom, two bath condos are well built and right on the shuttle route. Less than three miles from Kyle Field it's a breeze to get whereever your student needs to go.
Built in 2001, these are still relatively new and the complex lacks a pool, which greatly cuts down on your HOA dues per month.
Currently running around 125K with a monthly fee of $80, these College Condos are affordable and efficient. These mean never having to tell your son or daughter to mow the lawn. This might minimize your frustration!
Call today for information about available units!
Saturday, August 18, 2007
College Station Condos
College Station has a wide variety of student condos as well as condos that are perfect for just spending an occasional football weekend in. Bryan is another good venue for condos, though many there are for active adults as well and tend to be more luxury listings. In this post, I will focus on the more desirable, newer condos available in our market.
The desirability of a College Station Condo can be tagged upon how close the complex is to campus, with those being further away selling for less money, even when well appointed.
Fox Run Condos are probably one of the closest condo projects to campus. These well built two and three bedroom condos are a mere bike-ride away from the action at football games and 8 am classes. Built with luxury in mind these condos provide soaring ceilings and large bedrooms. The complex offers a pool as well. With prices starting at 124K for a 2 bedroom, this complex is a must see. Three bedroom, three bath units, when available, typically run 155K and above. Availability is limited, listings don't often come up.
The Woodland Condos are a truly spectacular project with grand dreams of a perfect condo project. These 2, 3 and 4 bedroom condos offer luxury living, but are aggressively priced for our market. Located on Southwest Parkway and Wellborn Road it is probably less than two miles from campus. The wood work looks good and the list of amenities is spectacular, but the price point should include IMHO granite counter-tops and other standard items for luxury condos.
Waterwood Condos are located off Krenek Tap between Texas and Highway 6. These are, according to one inspector I trust, one of the best built condos in the College Station market. These three bedroom and four bedroom models offer as many baths and bedrooms and all the amenities you would expect. Most have granite counter-tops. These beautiful finds are again, not always available. Interestingly the four bedrooms last year sold for 149-155K while the three bedroom (which granted, has some extra style) was sold for 158K.
There are many condos available for the budget conscience and I will focus on them in a future post.
For information on availability of these, and other condos visit the my MLS search or email me for timely information.
The desirability of a College Station Condo can be tagged upon how close the complex is to campus, with those being further away selling for less money, even when well appointed.
Fox Run Condos are probably one of the closest condo projects to campus. These well built two and three bedroom condos are a mere bike-ride away from the action at football games and 8 am classes. Built with luxury in mind these condos provide soaring ceilings and large bedrooms. The complex offers a pool as well. With prices starting at 124K for a 2 bedroom, this complex is a must see. Three bedroom, three bath units, when available, typically run 155K and above. Availability is limited, listings don't often come up.
The Woodland Condos are a truly spectacular project with grand dreams of a perfect condo project. These 2, 3 and 4 bedroom condos offer luxury living, but are aggressively priced for our market. Located on Southwest Parkway and Wellborn Road it is probably less than two miles from campus. The wood work looks good and the list of amenities is spectacular, but the price point should include IMHO granite counter-tops and other standard items for luxury condos.
Waterwood Condos are located off Krenek Tap between Texas and Highway 6. These are, according to one inspector I trust, one of the best built condos in the College Station market. These three bedroom and four bedroom models offer as many baths and bedrooms and all the amenities you would expect. Most have granite counter-tops. These beautiful finds are again, not always available. Interestingly the four bedrooms last year sold for 149-155K while the three bedroom (which granted, has some extra style) was sold for 158K.
There are many condos available for the budget conscience and I will focus on them in a future post.
For information on availability of these, and other condos visit the my MLS search or email me for timely information.
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