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Old 05-05-2009, 07:26 PM
 
3,819 posts, read 11,940,499 times
Reputation: 2748

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I'm snooping around on MLS and man I was I was in the position to buy right now. Prices are low as hell on some older units and even some of the new stuff that was outrageous is finally becoming a little more reasonable.

Check some of these out...

44 Monroe
1344 sq ft
10th floor
$323,890

Summit @ Copper Square
19th floor!
966 sq ft
$295,000

Stadium Lofts
1,114 sq ft
$149,900

Landmark Towers (Central & Camelback)
17th floor!
702 sq ft
$35,000

And the rock bottom priced, though very small...

Landmark Towers (Central & Camelback)
440 sq ft
$27,000

I would freaking love that unit at 44 Monroe. Weren't they going for like $400,000+ for a 900 sq ft unit when it opened?
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Old 05-05-2009, 07:29 PM
 
Location: NE Phoenix!
687 posts, read 1,946,216 times
Reputation: 432
Quote:
Originally Posted by HX_Guy View Post
I'm snooping around on MLS and man I was I was in the position to buy right now. Prices are low as hell on some older units and even some of the new stuff that was outrageous is finally becoming a little more reasonable.

Check some of these out...

44 Monroe
1344 sq ft
10th floor
$323,890

Summit @ Copper Square
19th floor!
966 sq ft
$295,000

Stadium Lofts
1,114 sq ft
$149,900

Landmark Towers (Central & Camelback)
17th floor!
702 sq ft
$35,000

And the rock bottom priced, though very small...

Landmark Towers (Central & Camelback)
440 sq ft
$27,000

I would freaking love that unit at 44 Monroe. Weren't they going for like $400,000+ for a 900 sq ft unit when it opened?
To be fair, living in the Landmark is known to be a nightmare.
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Old 05-05-2009, 07:48 PM
 
Location: Mesa, Az
21,144 posts, read 42,128,260 times
Reputation: 3861
Funny about this thread: I was along the Light Rail corridor today for some business and I passed right by some of the locations that HX_Guy listed
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Old 05-05-2009, 07:54 PM
 
Location: Anchored in Phoenix
1,942 posts, read 4,569,502 times
Reputation: 1784
Hx_Guy,

Watch out! HOA fees are from $0.29 per square foot to $0.60 per square foot per month. How would you like to buy a $225,000 1200 sq foot loft in cash, only to find you have to pay $330 to $700 per month HOA (for starters)? HOAs also go up over time too.

I'd wait. And yes, I'm hot for lofts myself. That's the only type of housing I would ever purchase in Phoenix. But it does not make economic sense yet.

There are many lofts raising their HOAs because of many foreclosures going on. Some sites are noting that there are many people who stopped paying their HoA fees. Danger! Danger! Danger!
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Old 05-05-2009, 07:57 PM
 
3,819 posts, read 11,940,499 times
Reputation: 2748
I'm not actually planning on buying, now or anytime in the future...but I wish I was in the position to.
I'm a house now and as much as I love urban living, I can't see having a smaller place then what we have now (1900 sq ft).
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Old 05-06-2009, 02:04 AM
 
3,886 posts, read 10,079,659 times
Reputation: 1486
I hear ya! I wish I were too! Some great deals out there, some lucky investors right now, thats for sure! We can all dream HX guy! I'm right there with ya~!
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Old 05-06-2009, 10:22 AM
 
837 posts, read 2,334,428 times
Reputation: 801
Anyone know whats the deal with 44 Monroe, and Central condo's? They're both completed but virtualy empty
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Old 05-06-2009, 11:36 AM
 
3,632 posts, read 16,164,624 times
Reputation: 1326
Yeah, I really wish I was in the position to buy now, too! I probably wouldn't look at downtown, but I was looking at some nice, cheap as can be condos yesterday! Holy crap is right!
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Old 05-06-2009, 12:12 PM
 
Location: Inside the 101
2,788 posts, read 7,448,732 times
Reputation: 3285
Quote:
Originally Posted by trudawg View Post
Anyone know whats the deal with 44 Monroe, and Central condo's? They're both completed but virtualy empty
That's because no one wants to buy them as an investment and most people who want to live there would have trouble selling their current homes. The whole market is paralyzed at the moment. The real estate mania of the last few years led to overdevelopment of condo projects when rentals would actually make more sense.
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Old 05-06-2009, 12:59 PM
 
837 posts, read 2,334,428 times
Reputation: 801
I heard an investment firm bought a bulk of the units with the intentions of reselling them but got into financial trouble. Anyone hear anything like that?


....and Yes I agree that people got greedy and started selling what should have been apartments left and right. Now they're stuck! Alta Phoenix Lofts on 5th and Van Buren started out as condo's but are now rentals
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