I've been telling people for a little while now that The Sage condos in downtown St Pete are a great value now. Some people called me out on it, saying "Why?" or "How do you know that?" So I put the numbers together and explain in this video.
The Sage was built in 2007 just before the bottom dropped out of the real estate market. Many of the units couldn't be sold so a smart investor came along and scooped them up. He held onto them as rentals until this past year or so when he decided to start selling them off.
In the video I incorrectly stated that they are being sold at a rate of 3 or 4 a week, what I meant to say was 3 or 4 month. At this time there are about 30 left that the investor owns, meaning by the end of the year they will be gone. What does this mean to you? As a buyer, you want to buy now while the prices are being held artificially low because of the heavy supply. When values go back you'll be in great shape! If you own at The Sage and are thinking of selling, if you can wait then you should wait until the investor sells off his units and prices go back up to where they belong.
Want to live at The Sage? Contact me soon while the getting is good!
If you have questions on this or would like me to run the figures for your current home or do an analysis of where you want to live I can do that too!