Condo conversion presents conundrum

As Featured in the Puget Sound Business Journal

Written by Jeanne Lang Jones

Image Courtesy of PSBJ

Dogged by slow sales, Puget Sound area developers have converted more than 4,400 unsold condominium units into apartments over the past two years. Some plan to convert those rentals back into condos once the housing market improves. . . 'It makes sense that the most likely projects to revert to condos will be the ones intentionally set up as condos, but it depends on who’s making the decision,' said Dean Jones, president and owner of Realogics Sotheby’s International Realty."