Non Warrantable Condos - Change in Value
Any Condo investors out there have any experience to the change in value to a condo unit once the building become non-warrantable? Following the laws of supply and demand the units should be lower in value since fewer individuals will be able to purchase a unit in that building. Right?
I currently own an rental condo in a building that went non-warrantable after I purchased it, and I’m considering purchasing another unit in the same building. The units coming up for sale in the building don’t seem to be priced to reflect the fact that buyers can’t get a Fannie/Freddie loan.
Was wondering if anyone in the community has does any research on this that I could use when negotiating a purchase price.
Thanks,
Jared