Correction - 9920 Condominiums
Posted on August 7th, 2008 by Jonathan Dalton
So as I was reviewing the 9920 Condominiums website the other day looking for floor plans, I missed the obvious news staring me in the face. The 9920s are no longer for sale. The developer has turned the community into a rental complex.
This discovery was made this morning when I walked in the door with a client and said we’d like to look at the models. “For rent?,” the agent asked. “Um, no,” I said. And that’s when we knew.
It’s a shame. I can understand the developers’ need to get the units filled. Sales had been slow but it appeared they were taking place. And going rental?
Right project, wrong time.
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I think for many renting is becoming more popular, especially with the mortgage crunch…it’s too bad your client couldn’t have looked at one and considered it for purchase - but from the developer’s perspective they may actually make more money in the long run depending on how long they keep ownership and their management of the units.