Anyone who’s been in the real estate business for awhile will tell you that quoting square footage can cause a whole heap o’ problems. With prices per square foot running at, say, $800, if you’re off by 100 square feet….well, do the math. So it’s pretty common for agents (including yours truly) to leave the square footage out of the marketing and advise buyers to investigate/verify/measure/pace off the space to their own satisfaction.
The dreaded square footage demon has reared its ugly head at the Beacon, one of the newer complexes near the ballpark (at King & 3rd St.): there has been a class-action suit filed against everyone and their dog who has been involved with building and operating the complex, alleging misrepresentation of square footage as well as construction defects.
And now I’ll state the obvious: Because the homeowners’ association has been named in the lawsuit, and because litigation against an HOA can sometimes affect lenders’ willingness to make loans at a particular property, it’ll be interesting to see if this affects sales at the Beacon. Stay tuned.