Friday, June 18, 2010

NCC is now a rental property

For those owners looking in from 'out of town' you can see that the complex is now being promoted as a rental community. My estimate is that 50% of the units are now either rentals or available for rentals.

The developer has their 57 units and many individual owners are also renting out (or trying to rent out). Sales are virtually nil and except for sales of units at knock down prices by banks or mortgage companies, they will probably remain flat for the next few years. Rentals are the only realistic way for owners to get any money out of their unwanted units.

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