I looked at this place about 4 months ago, it's great, as the copy said, the bones are really nice, but needs completely new kitchen and bathroom IMHO. I was super motivated and had 2 mortgage brokers look into it, and guess what, even though the building had moved out of HDFC income caps, I did not find a single bank willing to lend into the building! Ack. So total no-go! In my opinion, they... [more]
I looked at this place about 4 months ago, it's great, as the copy said, the bones are really nice, but needs completely new kitchen and bathroom IMHO.
I was super motivated and had 2 mortgage brokers look into it, and guess what, even though the building had moved out of HDFC income caps, I did not find a single bank willing to lend into the building! Ack.
So total no-go! In my opinion, they should really list it now as a cash-only sale, if they cannot get financing for it! :(
Since I have been looking into buying up in HH and WH for a while, I have encountered so many HDFC's, and really wonder if the financing-issue always stands with those sales, or is it different from building to building?
I have seen some discussions going on about HH in another thread, and wonder if some of you more experienced commenters can weigh in on it.
Thanks all!
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Response by Txredrider
over 14 years ago
Posts: 102
Member since: Apr 2011
Seems like a lot for that unit there are cheaper units in that area. Have you seen other units?
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Response by ACH
over 14 years ago
Posts: 82
Member since: Mar 2009
hm, it's a true 2-BR, so I feel the price is actually very good.
most 2-BR's between 137th and 157th range around $400K-ish, at least the ones with more than 1000sqft and non-HDFC.
This one has around 850, I would say.
see, my problem is that the cheaper ones are all HDFC's with income-caps, and I am above that as a single buyer.
:(
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Response by Txredrider
over 14 years ago
Posts: 102
Member since: Apr 2011
I see, the units I saw were HDFC, good luck it's tough out there.
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Response by Txredrider
over 14 years ago
Posts: 102
Member since: Apr 2011
ACH did you see the unit at 513 w157th,listed with company.
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Response by ACH
over 14 years ago
Posts: 82
Member since: Mar 2009
unfortunately exactly the opposite of what I need.
HDFC with income caps and all cash. :(
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Response by Txredrider
over 14 years ago
Posts: 102
Member since: Apr 2011
My bad I didn't read the entire listing, good luck to you.
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Response by semerun
over 14 years ago
Posts: 571
Member since: Feb 2008
The financing issue -It's a building by building experience. If no one is willing to lend into the building- it's likely there are other problems lurking.
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Response by ACH
over 14 years ago
Posts: 82
Member since: Mar 2009
semerun-thanks. that's what it felt like, no hard and fast rules about that.
I'll keep looking, and it's good to know that the interest for the HH-area is there.
:)
Seems like a lot for that unit there are cheaper units in that area. Have you seen other units?
hm, it's a true 2-BR, so I feel the price is actually very good.
most 2-BR's between 137th and 157th range around $400K-ish, at least the ones with more than 1000sqft and non-HDFC.
This one has around 850, I would say.
see, my problem is that the cheaper ones are all HDFC's with income-caps, and I am above that as a single buyer.
:(
I see, the units I saw were HDFC, good luck it's tough out there.
ACH did you see the unit at 513 w157th,listed with company.
unfortunately exactly the opposite of what I need.
HDFC with income caps and all cash. :(
My bad I didn't read the entire listing, good luck to you.
The financing issue -It's a building by building experience. If no one is willing to lend into the building- it's likely there are other problems lurking.
semerun-thanks. that's what it felt like, no hard and fast rules about that.
I'll keep looking, and it's good to know that the interest for the HH-area is there.
:)