Jul. 30, 2008 - Norwalk Condo Listing of the Week

OK, I'll be up front and honest, as always, this week's pick for "Norwalk Condo Listing of the Week" was not a completely objective choice - it's my listing. So, yes, I am biased in thinking that this listing deserves special attention.

Here are the details:

Objectively, here are some reasons that make this a good value for a Norwalk Condo:

• Right now there are 16 similar condos for sale (2BR, 1.5 Baths, 1100 - 1300 sq ft) and the average list price of those properties is $334,147, so you're getting a lot for the price
• In the under $280,000 price range, there are only 6 other 2BR condos with more than 1,000 square feet of living space and 1.5 baths
• Common Charges are $300/month, which is competitive with other complexes
• The current owners have made many updates including appliances & the hot water heater
• The association replaced all of the roofs, decks, walkways and steps in 2007, so there aren't expected to be any major capital improvements that would require a special assessment or increase in common charges in the near future

With a 10% down payment, the monthly mortgage payment would be about $1,600, which is less than what you would pay to rent the same or a similar condo in town. We've already had a number of showings in the first few days on the market, so I'm optimistic that the right buyer will be coming along soon.

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