In June 2024, I wrote about the challenges facing Brentwood Forest Condominiums and the impact of structural concerns, increased lender scrutiny, and the loss of FHA approval. If you missed that article, you can read it here. At the time, the big question was whether this was a short-term disruption or something more fundamental. Now, almost two years later, we’ve got the answer…it wasn’t temporary, and it didn’t just “slow the market down,” it changed who the market is. When Brentwood Forest ran into lending issues and became non-warrantable for many lenders, the buyer pool didn’t shrink a little, it shifted entirely. First-time buyers and FHA financing were largely eliminated, leaving mostly cash buyers and those using portfolio loans. That’s a completely different audience than what has historically driven this market, and it shows in how properties have performed since.
What’s interesting is the market didn’t collapse…it split. Updated, well-priced units still sell and often do fine, while dated or overpriced units struggle and sit longer. That gap between properties is wider now than it was prior to 2024 when easier financing helped level things out. Pricing hasn’t followed a clean recovery either…it’s more property-specific, more sensitive to condition, and more dependent on how well a unit is positioned for a smaller, more selective buyer pool.
What’s held Brentwood Forest together is the same thing that made it popular in the first place…location. You’re still right in the middle of everything with quick access to Highway 40, Clayton, Maplewood, and major retail and employment areas. That underlying demand didn’t go away, and it’s the reason the market adjusted instead of falling apart. You can see how listings are currently being priced and marketed here.
Stepping back, this isn’t just a Brentwood Forest issue. Since the Surfside collapse, lenders, insurers, and buyers have all become more focused on condo financials, reserves, and deferred maintenance. “Non-warrantable” used to be more of an exception…now it’s something buyers and lenders are paying a lot more attention to, and communities that don’t stay ahead of it are going to feel it. For sellers in Brentwood Forest today, the biggest mistake is assuming it’s the same market it was a few years ago…it’s not. The buyer pool is smaller, more informed, and more selective, and pricing and condition matter more than ever. For buyers, there can be opportunity here, but only if you understand the financing limitations, the association, and what it could mean when you go to sell later.
Bottom line, Brentwood Forest didn’t collapse…it evolved into a more segmented market where financing, condition, and knowledge matter a lot more than they used to. If you understand that going in, you can still make good decisions here. If you don’t, it can catch you off guard.
