category archive listing Category Archives: Foreclosure-short sales-REO’s

Good News Out of Bad News

March 23, 2009 – 8:43 pm

I have been speaking to a lot of investors lately who are considering buying some of the large notes and assets hitting the market in Phoenix, Tempe and Scottsdale (e.g. Century Plaza, Safari Drive, Portland Place and many more).  At first blush it can be a bit depressing witnessing all the carnage of unfinished and/or [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, Market Update, Trouble | Comments (3)

Lending Problems for Phoenix High Rise Condos and More

March 22, 2009 – 11:10 am

Last week the press reported that Fannie Mae had changed its underwriting guidelines for condos.  We first reported the problem a two weeks ago as it related to a deal we were working at The Vale Lofts in Tempe.   Fannie Mae used to underwrite conventional loans in condo communities if 51% of the condos were [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, Trouble | Comments (0)

Optima Bank Owned and Short Sale Tour

February 15, 2009 – 7:08 am

Yesterday’s tour of bank owned and short sale condominiums (we’ll have phots from the tour posted in a couple days) for sale at Optima Biltmore Towers and Optima Camelview Village was a great success.  In general, the feedback from the sixteen tour attendees was that prices are now starting to make sense and that it [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, High Rise Condos, Phoenix, Scottsdale, Tour | Comments (0)

Bus Tour of Foreclosure Condos

February 1, 2009 – 7:53 am

Every month we hold a bus tour of high rise and loft condominiums (urban properties) in a particular part of town.  On February 14th, we’re going to do something a little different; we’re going to tour bank owned foreclosure condos. Since few people seem to be buying anything but bank owned properties it only makes [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, Hot Deals, Tour | Comments (2)

Realtor Magazine Reports That The Bottom is Near

January 19, 2009 – 11:17 am

A recent article on realtor.org, the web extension of Realtor magzine, claims that the market appears to be turning around in some of the hardest hit real estate markets in the country, including Phoenix. Of course one has to question the motivation and/or perspective of the source.  After all, its possible that the author of [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, High Rise Condos, Market Update | Comments (2)

Buying Opportunity

November 26, 2008 – 11:16 am

There are a number of foreclosures in one particular community that I think make a lot of sense to buy now (if you read my stuff you know that I don’t say this often at all). The community is in a pretty good location and is walking distance from a number of stores and restaurants. [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's | Comments (0)

Bank Owned High Rise Condos and Lofts in Phoenix, Scottsdale and Tempe

September 8, 2008 – 11:57 am

See a complete and current list of bank owned and short sale high rise condominiums and lofts located in Phoenix, Scottsdale and Tempe. It’s been about four years since prices first began sky rocketing and two and a half years since those prices slowly began floating back down to earth. Many of the urban “boom [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, High Rise Condos, Hot Deals, Lofts, Phoenix, Scottsdale, Tempe | Comments (0)

Foreclosed High Rise Condos and Lofts Offer Great Buys

August 31, 2008 – 10:05 pm

We are seeing more and more great loft condos and high rises hitting the market for sale as foreclosure or bank owned properties at prices that make a lot of sense. In many cases these condos are priced at fifty percent of the price that the previous owner paid. Now, we think that in most [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, Phoenix, Scottsdale, Tempe | Comments (0)

How Can Centerpoint High Rise Condominiums Survive?

August 19, 2008 – 2:03 pm

There have been numerous newspaper articles reporting on the financial woes for Avenue Communities and its downtown Tempe high rise condo developement, Centerpoint. What I have not understood is how can a project that has sold 20-25% of its condominiums over the last three years survive current market conditions AND the bankruptcy of its construction [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, High Rise Condos, Tempe, Trouble, Uncategorized | Comments (0)

A Positive Article About Real Estate

May 14, 2008 – 6:26 pm

Cyril Moulle-Berteaux wrote an article for The Wall Street Journal that has been shot round the world by real estate agents and mortgage lenders alike for the last couple days. The title of the article is “The Housing Crisis is Over.” Now you know why agents are touting it so much. In it Moulle-Berteaux states, [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, Market Update, Trouble | Comments (5)
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