Incidentally, if you're not so fortunate as to find a 6% mortgage and are forced instead to pay at 6.25%, you're up to $2709 a month, or $3906 total. And, at 6.50%, the mortgage is $2781, for a grand monthly total of $3988.

And by the by. When did the maintenance last rise and when might it next?

Posted by: contrarian1 at March 17, 2009 5:02 PM in response to Co-op of the Day: 160 Columbia Heights

Let's examine objective reality. Say you talked the seller down 8% to $550k, put 20% down ($110k) and took out a $440,000 30-year at 6%. Your monthly mortgage is $2638 plus the $1207 maintenance gets you a monthly nut of $3845. You tell me. Pushing four grand a month for 750 sf?

Which reminds me. Even at $550k, a buyer would be expected to pay $733 a square foot. Perhaps in a parallel universe to the one I inhabit.

Posted by: contrarian1 at March 17, 2009 4:32 PM in response to Co-op of the Day: 160 Columbia Heights