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I am interested in the downtown condo market, but certainly not willing to pay current asking prices for what is available considering the downtown market and downward spiral over the past years. I am interested in a larger 1 bed to a 2 bed unit. Price range is Max $220,000 but realistically would like find a "steal" under $180,000. Anybody have a heads up on foreclosures or price reductions that may be coming up? Looking to buy in the next 6-8 months.
I don't know how familiar you are with the area, but I've always found downtown to be ridiculously overrated, especially considering how much it costs to live there. A condo for less than 180,000 is absolutely findable if you're willing to go to areas like Bay View or the Eastside if you're willing to stay further inland. Both of those areas also have much more going on than downtown and if you ask me, you're much better off looking at one of them.
I don't know how familiar you are with the area, but I've always found downtown to be ridiculously overrated, especially considering how much it costs to live there. A condo for less than 180,000 is absolutely findable if you're willing to go to areas like Bay View or the Eastside if you're willing to stay further inland. Both of those areas also have much more going on than downtown and if you ask me, you're much better off looking at one of them.
I agree with this. Especially when you add in the condo fees. If all you're looking for is a large 1 bedroom or smaller 2 bedroom, you could probably find something decent in that price range, but it depends on the location, the age of the development and what amenities it offers.
I just completed a MLS (multiply listing service) search for you. Currently, there are 89 condo homes on the market between 180k and 220k, evenly split amongst 1-2 bedrooms. Most were located on the East Side; Upper and Lower, Brewers Hill, Third Ward, 5th Ward and River West. There were a few (less than 10) located in outlying Milwaukee areas, and I noticed one in Bayview Terrace. I would suggest calling Nancy B. Meeks, she is an expert on the downtown condo market, and will be a great help. My last condo project was Landmark on the Lake, on Prospect. They have some of the best views in the city, and an amenties ladent building, with price ranges that you are looking for, check out there website. Good luck!
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