Condominium delinquency rates, Investor concentration

Knowing a condominium building and it’s delinquency rate for condo fees, is a vital first step for any potential Buyer interested.
Lender guidelines allow up to 15% delinquency, where the unit owners are 30 days+ late on their condo fees.  A Buyer’s financing can hinge on this.  It can also hinge on how many units are owner occupied VS. investor owned.  However, I know at least one lender that doesn’t care about this investor concentration as long as you are buying yours as your Principal Residence.

This page was created to try and keep a pulse, a database, to help the Realtor community better access on this valuable information.
In no way am I responsible for this information being completely accurate.  I am using info I find AND provided to me by other Realtors.  It is still imperative you do research and call the Condo Management companies.

 

Ashmore in Germantown, Galway Bay Circle
‘Ashmore at Germntwn Site’
Depends on Building, there are five buildings;
Ashmore 1  (19607 Galway Bay)  UNDER 15%
Ashmore 1- 20 of the 89 units are rentals (23%)
Ashmore 2  (19627 Galway Bay)  OVER 15%
last updated 10/20/2011
Ashmore 3 (phase 2, 13504 Derry Glen Court)-  UNDER 15%
updated 3/1/2012 

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Eton Place in Germantown, Eton Manor Dr
‘Eton Place’
OVER 15%
last updated 11/4/2011

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Normandie on the Lake I (one)
Montgomery Village
UNDER 15%
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Normandie on the Lake II (two)
‘Normandie LK II’
UNDER 15%
-56 units owned by one entity
last updated 11/4/2011

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