Question on Optima towers... (Phoenix, Scottsdale: real estate, foreclosures, condos)

[Indylog]

Hello,

Let me start by saying that I find this forum extremely helpful as I am moving to phoenix this summer but don't really know the area. After living in the midwest for a very long time, my wife and I finally made the decison to move. Fortunately, my job is such that I could find good employment anywhere but I decided on phoenix as the employment opportunity was great and I had heard great things about phoenix thru some friends.

I have been reading the posts for the past month or so, and I have to admit that the negative comments have made me very nervous and question my decision. But regadrless we are now moving to phoenix...

Work will be in central phoenix (thomas and third), and I have been looking on the net for temporary housing...The response I got on my previous post was to look in Biltmore area (rent is not much of an issue). I came across the Optima towers in Biltmore, 2 bed 2 bath for about 2250 or so. I also saw an add for Optima/camelview in scottsadle for about the same price.

I would appreciate any thoughts on optima towers in general and if one is better than the other.

I apologize for the lengthy post,

Thank you.

[sablebaby]

Looking at the website, that should be a nice place to live. That area is very nice and affluent. Do you want to rent and for that much? If you do, then that's a great place to live (granted I've never lived there), plus your commute would be pretty good. I didn't see the one in scottsdale.

[silverbear]

Originally Posted by Indylog

Work will be in central phoenix (thomas and third), and I have been looking on the net for temporary housing...The response I got on my previous post was to look in Biltmore area (rent is not much of an issue). I came across the Optima towers in Biltmore, 2 bed 2 bath for about 2250 or so. I also saw an add for Optima/camelview in scottsadle for about the same price.

I would appreciate any thoughts on optima towers in general and if one is better than the other.

If the Optima building is within your price range, I'd defnitely give it serious consideration. I haven't been inside, but I've watched it go up over the past few years, and it looks impressive. The Biltmore location is great; the Optima building is literally at the heart of the area, within easy walking distance of the Esplanade and Biltmore Fashion Park, the two major shopping centers in the area. The Optima buiding in Scottsdale is probably equally nice, but would be a substantially longer commute to your job in Midtown Phoenix.

[Indylog]

Thank you for the responses...

[JMX]

I can't give you any more information on the Optima Towers either, but I do think you'd be happy with the Biltmore location. As silverbear mentioned, the Esplanade and Biltmore Fashion Park are within walking distance and there are a number of fine restaurants in that area too. You're also close to downtown entertainment (theaters, symphony, art studios, etc.) and the mountain preserves for hiking (Camelback Mtn. and Piestewa Peak). Plus, it's centrally located so it's just a short drive to Scottsdale or Tempe or wherever else you want to go.

I've never lived in the Biltmore area, but it's always been one of my favorite areas of town ever since I moved here 20+ years ago. I'm guessing you and your wife will like it too.

[Indylog]

Originally Posted by JMX

I can't give you any more information on the Optima Towers either, but I do think you'd be happy with the Biltmore location. As silverbear mentioned, the Esplanade and Biltmore Fashion Park are within walking distance and there are a number of fine restaurants in that area too. You're also close to downtown entertainment (theaters, symphony, art studios, etc.) and the mountain preserves for hiking (Camelback Mtn. and Piestewa Peak). Plus, it's centrally located so it's just a short drive to Scottsdale or Tempe or wherever else you want to go.

I've never lived in the Biltmore area, but it's always been one of my favorite areas of town ever since I moved here 20+ years ago. I'm guessing you and your wife will like it too.

Thank you, very helpful information. I am planning a trip in late april to check it out.

[moose168]

I have recently checked out the Biltmore area near 24th and Camelback. I have to admit that section sure has changed - lots of fine restaurants and shops; and some decent condos that are pricey, but not too far out of range.
That's 1 area of Phoenix I can safely say that has changed for the better. I think you might be happy living there.

[Indylog]

Originally Posted by moose168

I have recently checked out the Biltmore area near 24th and Camelback. I have to admit that section sure has changed - lots of fine restaurants and shops; and some decent condos that are pricey, but not too far out of range.
That's 1 area of Phoenix I can safely say that has changed for the better. I think you might be happy living there.

Sounds promising, thanks for the feedback.

[nevercoldcall]

The Biltmore/Arcadia area is no doubt the #1 best area to live in the entire metro area.

The Optima towers were one of those million-dollar condo projects, and with the real estate crash that's hitting Phoenix, the condos have crashed hard. You can rent one for as little as $2,000. (Which doesn't even cover the owner/investor's property tax!!!) Great deal. I'd definitely stick with renting over buying for the next 1-3 years in Phoenix as the foreclosures continue to mount and the prices drop with them.

[Indylog]

Originally Posted by newtotheoc

The Biltmore/Arcadia area is no doubt the #1 best area to live in the entire metro area.

The Optima towers were one of those million-dollar condo projects, and with the real estate crash that's hitting Phoenix, the condos have crashed hard. You can rent one for as little as $2,000. (Which doesn't even cover the owner/investor's property tax!!!) Great deal. I'd definitely stick with renting over buying for the next 1-3 years in Phoenix as the foreclosures continue to mount and the prices drop with them.

Great advice, thanks.
I will probably wait for at least 12 months before I buy. I am hoping that arcadia/biltmore area is as nice as everyone has suggested for purchasing a house, as this are would be very close to work. I would be looking for a house in the 1 to 1.5 mill. range, hopefuly that would be feasible.