Condos are a real challenge right now. With the general need to maintain aging buildings, the high insurance costs, Fannie Mae and Freddie Mac's increased requirements for condominiums, and many unit owners' reluctance to increase dues to keep up with these trends, it's getting harder to sell these properties. My recommendation to anyone considering purchasing in this arena is that you do your homework on the association. Be very wary of any condominium that has a high non-owner-occupied status. There, the owners will be reluctant to invest into the needed maintenance of the property:
