by Marianne Howell Wright
You’ll love it!
This condo has been sold but others come on the market. Contact me and I’ll tell you about what’s going on now in the market.You’ll love this cute Chapel Hill condo with 2 large bedrooms each with it’s own bath, half bath downstairs, and private garden all within walking distance to UNC. Washer and dryer included.
Located just off Franklin Street Village Green Condos are tucked away and private adjacent to the Bolin Creek Trails. Take the trail to the quaint and cool Cafe Dirade for coffee overlooking the woods and greenway.
The neighborhood has a pool, basketball and tennis courts all in a private setting.
Village Green does not FHA financing available. Approval has expired and the application was denied because:
Condo rejected for the following reasons: 1.The owner occupancy 50% not met. Submitter must document to show condo meets owner-occupancy. 2.Previous year’s actual year end result missing. Sumitter must provide Income & Expense Statement. 3.Reserve Study provided is outdated. Submitter to provide a more recent reserve study dated within the last 24 months. 4.Explanation needed on why recorded plat map & site plan not available. 5.FEMA Flood map showing location of project missing. Submitter to provide FEMA Flood Map. 6.Fidelty Bond coverage is not sufficent. Coverage must be the condo monthly assessment x 3 months & what is in reserve.
There are only a handful of condos in Chapel Hill with FHA financing available. Check this site to find out the latest information.
You can walk, bike or take the bus to UNC
Busses in Chapel Hill are free so if you if you don’t feel like walking or biking to UNC you can take the bus. It’s all uphill to campus so you can always bring your bike on the bus and then ride downhill home to Village Green. There are lots of options when you live in such a convenient location.
Chapel Hill Condos are an amazing value
When the economy hit the downturn in around 2007 condos really suffered. Lenders were not interested in having condos in their portfolio and even though the market in Chapel Hill has always been strong, condos were in over supply in other areas of the country. Lenders restricted condo financing. For the past few years you could only buy a condo if you had cash. Values dropped. Now financing has eased up (as long as the condo will be owner occupied and not an investment property)and it’s a perfect time to buy with prices low and starting back up.