Speculator investors make condo purchases risky

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Have you noticed the "boom" in condominium sales? Have you noticed the substantial market-value price appreciation for most condominiums? Have you noticed the tremendous increase in condo conversions and new condo construction? In almost every community there is a big surge in condo sales. Recently, a local Realtor told me why, based on her everyday observations. She said, "Condos are ideal for first-time home buyers and last-time home buyers." Purchase Bob Bruss reports online. That summarizes the condo sales market very well! Of course, she meant condominiums are a great first home purchase for young buyers as well as a last home purchase for retirees. Yes, there are a few "in between" middle-age condo buyers, but most condo purchasers are either young or elderly. In addition to the first-time and last-time principal residence market, there is a huge "second home" condo market for those of us who want a vacation or secondary home that is not our primary full-time residence, but a "ge...