I'm a Real Estate Agent: The 4 Types of Condos That Are Hardest To Sell
Trying to sell your condo, but the listing seems to have gone stale? While it may be easy to blame the marketplace or the turbulent economy, the hard truth is that four types of condos are just inherently disadvantaged when it comes to attracting a buyer.
Read More:
Find Out:
But first: What specifically is a condo? And how does it differ from an apartment? While the terms 'condo' and 'apartment' are often used interchangeably, 'when you own the unit, you bought a condo even if it looks exactly like an apartment building, but when you rent the unit, you live in an apartment regardless of whether the owner calls it a condo,' said Eli Pasternak, real estate agent at Liberty House Buying Group. In other words, renting equals an apartment; buying equals a condo. Now that the terminology is out of the way…
Here are what experts, Pasternak and Brett Cobb, real estate agent and owner of Premier OKC Home Buyers, have to say about the four types of condos that are hardest to sell — and some ways to make them easier to sell.
Sure, sometimes a lack of stairs is swell. But Pasternak stated ground-floor units (especially those in buildings without doormen) are tough to sell because buyers worry about safety and security. In addition, ground-floor units don't exactly offer the same view as, let's say, penthouse units. And noise from the street or lobby is often looked upon unfavorably — especially by those who work remotely or have sleeping children. What's more, ground-floor units are especially vulnerable to flooding in hurricane-prone areas.
Discover Next:
Even in prime Miami locations, Pasternak has struggled to move studio units, 'because buyers worry about resale value down the road.' The reason is that studios are intended primarily for single occupants, leaving no room for family planning and making the pool of potential buyers smaller. Therefore, studios face limited demand and the possibility of not appreciating much over time. And, if there's no return on investment, a client could just rent.
Additionally, studios are not always suitable for certain mortgages because lenders can have minimum square footage requirements.
Condos with peculiar layouts often hurt sales because buyers simply can't envision living comfortably in them. In addition, furniture placement becomes awkward.
'I tell my clients that units with kitchens opening directly into bedrooms, or bathrooms accessible only through living rooms scare away most buyers who do not want renovation projects,' said Pasternak.
'Hands down, the hardest apartments to sell, in my experience, are the ones with sky-high HOA fees and no clear value to show for it,' said Cobb. While these fees may be tolerable with the right amenities or upkeep, no one wants to spend large amounts of money: 'If the pool's always closed and the roof looks like it's from 1995.'
And even the cost of upkeep has become an issue in certain parts of the country. Following Miami's Surfside condominium collapse in 2021 due to corrosion, HOA fees skyrocketed throughout the state of Florida as mandatory repairs and six-figure assessment fees were immediately put in place for buildings 30 years or older. According to The Economic Times, Florida's condo market is in steep decline.
If you're an owner trying to move one of these condos, don't panic. The task may be difficult, but some workarounds can help increase the odds of a sale. As the saying goes, it's all in the presentation.
If you're trying to sell a studio, Pasternak advised staging it to show multiple functions, perhaps adding Murphy beds or convertible furniture to demonstrate how to maximize square footage. In other words, turn a negative into a positive. 'You can demonstrate how spaces work for sleeping, working and entertaining in the same room,' he said.
Pricing aggressively is another strategy Pasternak advised for hard-to-sell units because the seller needs to offer enough value to overcome a buyer's concerns.
Additionally, sellers should consider sweetening the deal of any hard-to-sell condo by offering a few months off HOA fees.
Cobb advised brightening things up to make the condo more appealing — particularly for ground-floor condos with no natural light. A coat of white paint, or the addition of light fixtures and mirrors, ought to do the trick. After all, dark and dingy doesn't exactly scream, 'live here!'
New floors, refurbished cabinets, and updated appliances can all go a long way in making a condo look more current and appealing.
More From GOBankingRates
25 Places To Buy a Home If You Want It To Gain Value
This article originally appeared on GOBankingRates.com: I'm a Real Estate Agent: The 4 Types of Condos That Are Hardest To Sell
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
36 minutes ago
- Yahoo
10 Brilliant Growth Stocks to Buy Now and Hold for the Long Term
Electric vehicles, next-generation data centers, semiconductors, digital technology, and machine vision are just a few of the investment themes explored. Some of these companies have encountered near-term headwinds, creating attractive buying opportunities. All these stocks have powerful underlying secular growth drivers. These 10 stocks could mint the next wave of millionaires › Not all of the growth stocks featured here will likely deliver outsize returns, so it makes sense to spread portfolio risk around a collection of holdings. In that line of thought, here are 10 growth stock ideas for investors to consider. They range from a couple of high-profile household names, such as Tesla (NASDAQ: TSLA) and Delta Air Lines (NYSE: DAL), to companies like Navitas Semiconductor (NASDAQ: NVTS) and Synopsys (NASDAQ: SNPS), which are less well known. You might want to consider buying and holding any (or all) of these equities long-term. The key to the investment case for Tesla lies in its promised robotaxis and unsupervised full self-driving (FSD) software, which is scheduled to launch on a limited basis beginning this week. Tesla is already a highly successful automaker and the dominant player in electric vehicles (EVs) in the U.S., and robotaxis offer the prospect of transforming it into a company able to generate high-margin and recurring revenue from owning its robotaxi fleet or revenue sharing from Tesla's transformed fleet using Full Self-Driving (FSD) software. There's also the dedicated robotaxi, Cybercab, and the potential to sell FSD on a subscription basis. And all of it will be supported by Tesla's market-leading position in EVs and its ability to develop affordable EVs in the future. Nvidia partners Navitas Semiconductor and Vertiv (NYSE: VRT) and the next generation of data centers, namely 800-volt (V) high voltage direct current (HVDC), which I've discussed in more detail elsewhere, so investors with the time and inclination can peruse. Nvidia believes they will be more efficient, with lower maintenance costs and significantly lower costs of ownership. The new data centers, scheduled for 2027, employ a different power conversion method, and Navitas is developing Gallium Nitride (GaN) and Silicon Carbide (SiC) power semiconductors to enable more efficient power conversion in 800V HVDC data centers. Similarly, another Nvidia partner, and leading data center equipment provider, Vertiv, is developing critical power and cooling equipment and systems for the new data centers and expects to have them available in the second half of 2026, in time for the launch of the 800V HVDC data center in 2027. What makes both companies particularly interesting is that, unlike their rivals, they are more like pure plays in their end markets. For example, Navitas specializes in GaN and SiC chips for power conversion (not silicon), and 80% of Vertiv's revenue comes from data centers. Speaking of SiC and GaN chips, Aehr's (NASDAQ: AEHR) stock has soared recently on speculation that Navitas might be a customer for Aehr's testing and burn-in equipment. Aehr's equipment helps semiconductor manufacturers ensure quality and reliability throughout the manufacturing process. Aehr has struggled recently as its revenue at SiC customers, including ON Semiconductor, has declined in light of pullbacks in EV investment. Still, Aehr is making good progress in opening up and winning customers in new markets, including GaN semiconductors and semiconductors for artificial intelligence (AI) processing. Synopsys is a leader in electronic design automation software (used to design and verify chips), and its intended acquisition of engineering simulation and analysis company Ansys is a key event. The aim is to create a company offering design software, as well as simulation and analysis software to test the fruits of the design. It will also open up Synopsys' solutions to Ansys' wider range of end-market customers, particularly as semiconductors and electronics are increasingly being embedded in a range of new industries. The advanced materials company's lightweight composites are the future of the aerospace industry, as every new generation of airplane contains more composites. This means Hexcel (NYSE: HXL) can grow as airplane production increases (Airbus and Boeing have multiyear backlogs in place) and new, more composite-rich airplanes are developed. Hexcel has faced headwinds in recent years as Airbus' and Boeing's delivery rates have fallen short of expectations, but it's only a matter of time before they improve. Cognex (NASDAQ: CGNX) is another company with excellent long-term secular growth prospects (the use of machine vision in automated processes) that has suffered near-term headwinds (weakness in key end markets like automotive and consumer electronics). Still, this is a temporary slowdown in a long-term growth story. PTC (NASDAQ: PTC) provides computer-aided design (CAD), product lifecycle management (PLM), and other solutions essential to creating a so-called "digital thread" for a physical product as it moves from design through manufacturing, use, servicing, and ultimately disposal. As such, it's a leading player in the digitization of the industrial sector. Trimble's (NASDAQ: TRMB) precise positioning hardware (its origins) and growing software/services also make it a leading play on digitization. In Trimble's case, it's about integrating physical positioning with the digital world, such as in construction and infrastructure work, transportation, and geospatial activities. Through the use of advanced analytics in the digital world, Trimble's solutions can be integrated into its customers' daily workflows. Last but not least, Delta's growing mix of premium cabin revenue, loyalty program, co-brand card remuneration, and ability to adjust and compete in economy tickets when necessary means it's a much more diversified airline than a decade ago. In addition, as a network operator, it's much better positioned to deal with the growing cost pressures in the industry than low-cost carriers. Despite headwinds in 2025, it's ideally placed to generate value for shareholders over the long term. Ever feel like you missed the boat in buying the most successful stocks? Then you'll want to hear this. On rare occasions, our expert team of analysts issues a 'Double Down' stock recommendation for companies that they think are about to pop. If you're worried you've already missed your chance to invest, now is the best time to buy before it's too late. And the numbers speak for themselves: Nvidia: if you invested $1,000 when we doubled down in 2009, you'd have $373,066!* Apple: if you invested $1,000 when we doubled down in 2008, you'd have $38,158!* Netflix: if you invested $1,000 when we doubled down in 2004, you'd have $664,089!* Right now, we're issuing 'Double Down' alerts for three incredible companies, available when you join , and there may not be another chance like this anytime soon.*Stock Advisor returns as of June 9, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Cognex, Nvidia, Synopsys, and Tesla. The Motley Fool recommends Ansys, Delta Air Lines, Hexcel, ON Semiconductor, PTC, and Trimble. The Motley Fool has a disclosure policy. 10 Brilliant Growth Stocks to Buy Now and Hold for the Long Term was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
39 minutes ago
- Yahoo
One of America's Oldest Cheesemakers Could Be Yours—for $2.5 Million
Crowley Cheese, based in Vermont, has been around for more than 200 years, and the property of Galen Jones and his wife Jill Jones for the past 16. The business is considered Vermont's oldest active cheese factory and one of the oldest in the country. Galen and Jill Jones announced that Crowley was up for sale earlier this month, with an asking price of $2.5 of America's oldest small businesses is up for sale. It could be yours—if you have enough cheddar. Crowley Cheese, based in Healdville, Vt., has been around for more than 200 years, and the property of Galen Jones and his wife Jill Jones for the past 16. Now the company is on the block, with Galen, who is 68, ready to step away from the business of churning out handcrafted artisanal American cheese. "I'm an old man, and I'm ready to retire," he said. The asking price, $2.5 million, would get a buyer the factory, about 16 acres of surrounding land, cheesemaking equipment, the brand, and some 50,000 pounds of aged cheese. The business, which employs five people, is 'growing and profitable,' according to Galen Jones. A buyer would also get the recipe for Crowley's cheese, described as having yogurt-like qualities that distinguish it from other cheddars. It sells in blocks and wheels; an 8-ounce block starts at $10, while a 2.5 pound wheels starts at $50. The Crowley facility, which is considered Vermont's oldest active cheese factory and one of the oldest in the country, produces 30,000 to 40,000 pounds of aged cheddar cheese annually using a recipe that hasn't changed since 1824. Its cheese is shipped nationwide from Healdville, about a 150-mile drive northwest of Boston. The Joneses bought Crowley Cheese in 2009. Galen Jones knew people who were part of the previous investor group, he said, and happened to cross paths with the lead investor while working in digital media. (He declined to disclose the purchase price.) Reminded of the business, he looked it up online. 'We had a pretty terrible economy in 2009, and Crowley Cheese was also struggling,' Jones said. Unable to stop thinking about it, he reached out to the owners and soon visited the factory. 'Six weeks after that, my wife and I were operating this singular business, which was a simple factory in the middle of the countryside,' he said. 'It was serendipity, if you will.' The 'factory," a two-story historic farmhouse built in 1882 where cheese is handmade using raw milk with no additives or preservatives, includes a store and is open to visitors. The Joneses renovated the property and worked to improve production processes. Jones said he's received plenty of inquiries about the business since announcing its availability earlier this month. 'Some people are interested in the idea but not well equipped to take on the business,' he said. 'With others, there's serious interest.' The ideal buyer, he said, would be someone who could take "what we've been doing for the last 16 years to the next level,' he said. 'Cheesemaking is not for everyone. From my point of view, it's very important we find ownership that can successfully take the business forward.' Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
41 minutes ago
- Yahoo
Fred Smith, FedEx founder who revolutionized the package delivery business, dies at 80
MEMPHIS, Tenn. (AP) — Fred Smith, the FedEx Corp. founder who revolutionized the express delivery industry, has died, the company said. He was 80. FedEx started operating in 1973, delivering small parcels and documents more quickly than the postal service. Over the next half-century, Smith, a Marine Corp. veteran, oversaw the growth of a company that became something of an economic bellwether because so many other companies rely on it. Memphis, Tennessee-based FedEx became a global transportation and logistics company that averages 17 million shipments per business day. Smith stepped down as CEO in 2022 but remained executive chairman. Smith, a 1966 graduate of Yale University, used a business theory he came up with in college to create a delivery system based on coordinated air cargo flights centered on a main hub, a "hub and spokes" system, as it became known. The company also played a major role in the shift by American business and industry to a greater use of time-sensitive deliveries and less dependence on large inventories and warehouses. Smith once told The Associated Press that he came up with the name Federal Express because he wanted the company to sound big and important when in fact it was a start-up operation with a future far from assured. At the time, Smith was trying to land a major shipping contract with the Federal Reserve Bank that didn't work out. In the beginning, Federal Express had 14 small aircraft operating out of the Memphis International Airport flying packages to 25 U.S. cities. Smith's father, also named Frederick, built a small fortune in Memphis with a regional bus line and other business ventures. Following college, Smith joined the U.S. Marines and was commissioned a second lieutenant. He left the military as a captain in 1969 after two tours in Vietnam where he was decorated for bravery and wounds received in combat. He told The Associated Press in a 2023 interview that everything he did running FedEx came from his experience in the Marines, not what he learned at Yale. Getting Federal Express started was no easy task. Overnight shipments were new to American business and the company had to have a fleet of planes and a system of interconnecting air routes in place from the get-go. Though one of Memphis' best-known and most prominent citizens, Smith generally avoided the public spotlight, devoting his energies to work and family. Despite his low profile, Smith made a cameo appearance in the 2000 movie 'Castaway' starring Tom Hanks. The movie was about a FedEx employee stranded on an island. 'Memphis has lost its most important citizen, Fred Smith,' said U.S. Rep. Steve Cohen of Tennessee, citing Smith's support for everything from the University of Memphis to the city's zoo. 'FedEx is the engine of our economy, and Fred Smith was its visionary founder. But more than that, he was a dedicated citizen who cared deeply about our city." Smith rarely publicized the donations he and his family made, but he agreed to speak with AP in 2023 about a gift to the Marine Corps Scholarship Foundation to endow a new scholarship fund for the children of Navy service members pursuing studies in STEM. 'The thing that's interested me are the institutions and the causes not the naming or the recognition,' Smith said at the time. Asked what it means to contribute to the public good, he replied: 'America is the most generous country in the world. It's amazing the charitable contributions that Americans make every year. Everything from the smallest things to these massive health care initiatives and the Gates Foundation and everything in between,' he said. 'I think if you've done well in this country, it's pretty churlish for you not to at least be willing to give a pretty good portion of that back to the public interest. And all this is in the great tradition of American philanthropy.'
