What's up with property values Uptown?

[spankys bbq]

Originally Posted by urbancharlotte

In your situation, I would simply rent a place for the moment. You could also consider buying a fixer up in Noda.

There aren't too many of those left. And the ones that are left, you could damn near go waterfront for what they want.





OP, people are aging out of the downtown lifestyle and getting tired of elevators and condo association fees and all the other junk.



If you can regularly rent the place you buy using AirBnB, or similar, you'll come out well ahead of making up commissions.

[getatag]

Originally Posted by GoPhils

So when was the peak in uptown?

Since those two uptown condos were sold, I haven't tracked it. It peaked in 2008 prior to the crash.

It stayed pretty flat for many years, but most recently (12 or 18 months) it appears to have made a slight uptick. Those two units I referenced were still 5 to 8% upside down until that a point.

My experience is extremely limited, essentially confined to the one bedroom units we had at the time. They did rent well, but at a break even rate when compared to the University City units which were much more profitable.

[chapsme]

Note that some condo complexes explicitly do not allow AirBnB rentals. I used to own a unit in uptown and our building would not allow it. Do your research before going down this path or you could face steep fines. And if you get a building that allows it, all it takes is a simple vote to ban it. For buildings that allow it, there are also a few companies that buy units specifically to rent on AirBnb, so there is a good bit of competition too. My 2 cents..