Charlottesville Real Estate News

There are several individuals who have purchased or there are those attempting to purchase a condominium who are finding it extremely difficult or impossible to succeed in these transactions. Getting financing for this type of home purchase is proving to be a quagmire!  http://washingtonexaminer.com/news/business/2011/06/condominiums-struggle-pass-fhas-tough-financing-tests

We find this unsettling as Realtors. Often condominiums provide housing where individuals do little exterior maintenance as the association takes care of this aspect of homeownership. Other purchasers find condominiums the only housing they can afford as often these homes are lesser priced.

In any case, we find this area of the housing market is clogged consequently slowing the ability of the real estate market to increase sales. Not sure of a solution, but it is our hope that some remedy is found soon as this will help all of us, homeowners, when it comes time to sell and purchase a home!

Thoughts?