State of current condo-conversion craze
A few years back, many investors were scrambling to back condo-conversion projects across the U.S. Like in Las Vegas, several other communities such as Washington, D.C., Boston, Scottsdale, Miami-Dade, Broward and Palm Beach saw a boom in condo conversions. So now that the market is “normalizing” what’s happening to the condo-conversion market?
As can be expected, the market has slowed, with many projects actually being converted back into apartments. However, it’s not all gloom and doom for investors. While some areas of the country do have a 18 to 24 month oversupply issue, many investors were able to put the breaks on quickly and save themselves from loosing a significant amount of money. In the Investor’s Business Daily article, “What’s Become Of The Condo Conversion?”, writer David DeVoss takes a indepth look at this current market. To read more, click here.