2nd Issue of February 2007

 

High Density Housing in Metro Phoenix

Articles from the Experts…

 

As part of our expanded coverage of high-density housing, including lofts, condos, and condo conversions, we are providing these links to articles that deal with this area of the Phoenix area real estate market.  Please let us know if any of these articles are meaningful by clicking here.

 

The Arizona Republic, October 13 - Does Valley housing market have room for 'condotels'?
When Scottsdale's Hotel Valley Ho announced it would build condominiums on top of the hotel and sell them for about $1 million apiece in December, buyers didn't hesitate to bite.  They slapped down money on all 37 condos and formed a waiting list 300 units long.  But now that Phoenix's hyper housing market is slumbering, half of those buyers have pulled out and the waiting list disintegrated. Experts say the phenomenon is playing out nationally, just several months after "condotels" were touted as all the rage.
http://www.azcentral.com/arizonarepublic/business/articles/1013biz-condotels1013.html

The East Valley Tribune, September 24 – High-rises to replace flour mill as Tempe icon
Since Tempe’s founding, its iconic downtown landmark has been an industrial building that milled grain into flour. Its downtown scene for at least a generation relied largely on college students, bar food and beer. And the neighborhoods around Mill Avenue mostly vanished.
http://www.eastvalleytribune.com/index.php?sty=74884

The Arizona Republic, September 9 – Condos near stadium offer buyers sneak peak
A 258-unit luxury condominium complex is nearing completion in Surprise, with new residents expected to arrive by next month.
http://www.azcentral.com/community/westvalley/articles/0909gl-condo09Z20.html

RISMEDA, August 24 – Builder Confidence in Condo Market Dips Again
Builder confidence in the condominium housing market weakened significantly in the second quarter of 2006, as sales continued to retreat from the record-high levels seen last year, according to results from the National Association of Home Builders Multifamily Condo Market Index* (MCMI) released.
http://www.rismedia.com/index.php/article/articleview/15695/1/1/

The Arizona Republic, August 2 - Scottsdale condos opening as fever dips
Scottsdale's condominium market is showing signs of slowing just as some of downtown's projects are close to moving in their first residents.
http://www.azcentral.com/arizonarepublic/business/articles/0802biz-sr-realestate0802.html

RISMEDIA, July 21 – Boomers’ New Retirement Option: Condo Hotels
Despite national reports citing the real estate frenzy is approaching a freeze, there is a rising demographic that will continue to heat the market: The Baby Boomers. As they pursue their ideal vacation or retirement home, analysts suspect that this equity-rich group of retirees will keep the momentum of the market at a steady pace.
http://www.rismedia.com/index.php/article/articleview/15290/1/1/

The Arizona Republic, July 19 – Condos Sell Well in Foothills Area

Despite misgivings among some experts that apartments converted to condos might not sell, they have been selling fairly well in Ahwatukee Foothills.

http://www.azcentral.com/community/phoenix/articles/0719phx-condos0719Z3.html

 

 

These are links to just some of the interesting articles we have read about in the high density living real estate market.  The opinions expressed by these experts are not necessarily shared by Ultimate Information Systems, Inc.  If you have “expert” links to share with your peers…Let us know.