So whats the deal with Fox Run Condos? When I was in school (Class of '05), they were new and seemed extremely nice. I noticed theres over a dozen 2 bedroom condos for sale priced anywhere from $104k to $114k. Doesnt look like anyone can move one. Is there something seriously wrong over there? Are they run down?

Not run down, but there was a lawsuit between the HOA and the builder. There have been pronounced foundation issues with a few of the buildings and the HOA won the lawsuit and is now maintaining/ repairing the foundations on the problem buildings (some have already been done). They are mostly located on the East side of the complex. But because of this stigma, they are nearly attractive as they once were to Aggie parents and investors. If you have other questions about them please ask away. I am familiar with the complex.

Do they still rent well? Due to the amount on the market and the low price they look attractive for a rental property. Any idea what recent 2 bedrooms have sold for?

chase.t.hanna at gmail.com

Thanks

Email sent.

"Luxury" student living is being overbuilt in this town every year. Great if you are the builder selling them. Not so great if you are the sucker that falls for buying one. As new properties with high rents they appear to be decent investments to the unsuspecting. What happens in 5 years when a property is no longer so luxury and there is a whole new supply of freshly built places on the market for the same price?

Don't all of the apartments along Luther have foundation problems?

I don't know if other places on Luther have foundation issues. Fox Run's issues were caused by poor drainage in some of the buildings. You can read all about it online.

If anyone is interested in one let me know. They aren't the most difficult to lease due to good space and overall niceness.

I lived there so I can attest to the foundation issues. I would not invest in them but they do rent easy. They have a great location, gated, and I overall nice. You should not have a problem renting it out.

Montan.. Did you rent from a private owner or a management company?

We own a 3 bdrm in FR. It's rents for $500 per room, on thebus route, fairly secure, good HOA (for the owners). We've never had an issue renting

If buying, be prepared to pay cash. Lenders won't touch the complex

FYI - I haven't checked to see if it's still available but I saw that a 2/2 is now under $100k.

It's also been what? 7-8 years since they were built? A bunch of people who bought one to put a few kids through might be trying to unload since they don't need them anymore?

Only 7 or 8 years?

They were built 2003-2007.

Now that I think about it they were pretty much all built when I lived there in 2004, so 8+ years I guess

Correct. Most were built in 2003 and a few left after 2005.