There are two great deals to be had on the penthouse floor of my highrise right now... two condo units, both 1-bedrooms, currently offered for sale at unbelievably low prices. One unit is for sale for $171,000; the other one for only $149,000.Both units sold previously for over $310,000 as recently as 2007.
Egads. Not very long ago I thought I'd never see a standard-sized (as opposed to junior) 1-bedroom unit in this building for under $200,000 ever again.
I wish I could take advantage of these low, low prices, but alas, I can't.
The monthly condo fees on both these 55th-floor units, like the units themselves, are sky-high, however. Together with the property taxes, they're $800-$900 per month on each unit, in addition to the monthly mortgage payment.
I'm kind of mad at myself right now because this summer I signed a two-year lease renewal, which, after having been kicked out of two apartments in the past five years, I was happy to have been offered. I just dreaded the thought of possibly having to move again, and was glad to be able to lock in for such a long time. But now I'm feeling trapped.
The problem is that I think the rent I agreed to is too high. I didn't feel like negotiating, but I should have. The increase wasn't that high percentage-wise -- only 2.7 percent this year, after last year's 3 percent, and of course there will be a zero increase next year -- but the thing is, asking rents in my building are now dropping like a rock due to the bad economy. I'm paying $100-$200 a month more than asking prices for comparable units that I'm seeing on craigslist.
Sigh. I guess that's better than having bought and paid too much, and now being foreclosed on and losing everything. I need to keep that perspective. Still, I could kick myself.
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