Condo Sales Activity in Folsom CA
Posted 09/05/2009 - 09:47 by Beth Mergens
Another interesting statistic is that of the 47 condos currently listed there are 9 REO’s (bank owned) and 20 in a Short Sale status. The average DOM is coming in at 177 so you can see how short sales are impacting the market and extending the average time on the market. Last month in Aug. 2009 there were 6 closed sales for condos in Folsom and 50% of those took longer than 120 days to close. Kudos to those patient people because they paid on average $149.14 per sq.f t. for a condo just 3 years old in Folsom. They averaged a 1470 sq.ft. home and paid an average of $220,000…not bad for starters!
There is a rule of thumb in real estate and that is: Never sell your first home. The reasoning is that your income will increase so affording another property later on is highly likely. By keeping the first home you diversify your retirement income, can utilize the property for additional funds should the need arise, and have someone else paying that mortgage. With that in mind, a condo is the perfect vehicle to invest in. It provides shelter, tax write-offs, future liquidity and the best part is that you don’t have to maintain the property once you move out. If you find that you like Folsom and want to know more about condos please give me a call and I’ll be happy to assist you.

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Buying a home or even a condo in such difficult economic times is really a tough decision to arrive at. Also does an incentive of $8,000 compel you to go and buy a property.
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I lived for a long time in Folsom - it is a great place to live, going places as far as property is concerned as well I would say. If you can get it, property in Folson should prove to be well worth having.
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That's really great! Beautiful condos makes have a beautiful living also. ----------------- John Masters Organics
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The roller coaster ride of the stock market has captured the headlines with often painful regularity. Investing in real estate however, continues to be the best way to build wealth over time. However in putting investment there are only two possibilities, it is either you gain or loss, you need to have a full knowledge in any business venture that you are going to make. Remember greater return comes with higher risk. It is worth to have a cash advance to analyze the best way to increase your profit in condo investment.