Many agents and people looking for a place just may not know that you can get a nice condo in some nice complexes in Metairie for under 100k. I just did a search for a retired fella that was looking for something inexpensive. The initial search brought up 41 condos. It was fairly easy to get it down to the best 6-7 condos. Its all about location in this price range and finding a condo association that is kept up.
Location has a lot to do with what is happening in the neighborhood. Try not to be a trend setter as its hard to stop a trend when the area is going downhill. Go with the best location as that is where people will want to be in the future.
A good complex will keep its value and attract more buyers in the future. A well kept condo association is worth the extra fees that one will pay. Paying too little and things just do not get done. When this happens the value starts to go down.
The 6-7 choices were quite good and many had had recent updates. 3-4 were even two bedroom and one bath. The one bedrooms were the most updated. The choices are not a lot but then the better locations is where people tend to stay longer and do not need to sell. The biggest factors in narrowing the choices are location and the condition of the complex.
When you get under a 100k your note is less than $500 per month. The condos in this range have condo fees in the $150-$175 per month range. Taxes are less than $300 per year oor even less depending upon the price. The prices of the choice units ranged from 75k to 100k
These types of complexes tend to attract an older crowd. There is nothing wrong with that. The prices are somewhat depressed as less older people are buying. This has its positives as prices are cheaper and deals are to be had.