Oh yeah, they are all over the place. Really at the 230k-500k that is the most affordable way of life here in sunny SD for the average person. Houses don't really exist under 400k and the ones at 400k needs lots of improvements or they are in not so desireable areas. So a brand new condo is the way lots of people are going.
Yes, here in the Las Vegas real estate market, condo-conversions are big becasue of the same reasons. The only difference is that here they range in price from $200K-$300K, becasue our median price range is less than San Diego's.
Some of the developers in my area do an excellent job in their conversions, taking the time to modernize systems and upgrade/repair structural issues, providing value to the new owners.
On the other hand....I have witnessed a project or two that seems to only have gotten a coat of paint and landscaping as the "conversion".
It goes back to knowing the develpoer and as always, buyer beware.
As far as pricing, conversions can run approx $225K-$550K as SDH&C mentioned
condo conversions
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