category archive listing Category Archives: High Rise Condos

Response to Optima Biltmore Tower Lock Box Post

November 7, 2009 – 9:22 pm

I got an anonymous and somewhat derogatory email from a person who was pretty indignant about my previous blog post.  One of his or her many points was “In my entire career, I’ve never seen a real estate firm post a “negative” about a building. The article states that removing the lock boxes will cause [...]

By Will Daly | Also posted in Phoenix | Comments (1)

Optima Biltmore Tower Owners…Unite!

November 3, 2009 – 2:31 pm

We just heard that Optima Biltmore Towers (OBT) management made a major policy change last week that we believe will have an adverse affect on property values there. Real estate agent lock boxes are no longer allowed on the property!  This means that agents looking to show OBT to prospective buyers or renters will have to [...]

By Will Daly | Also posted in Phoenix, Trouble | Comments (6)

Century Plaza Goes BK

August 12, 2009 – 9:03 am

The developer of Century Plaza finally filed for bankruptcy last week; no big surprise…except that it took so long to happen.  So what’s likely to happen next?  In our opinion the value of the note just went down.  AZCentral.com reported that M&I Bank, the construction lender, claims that the building is worth approximately $19M (we [...]

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

Summit at Copper Square Clarification

July 15, 2009 – 2:42 pm

There have been a couple articles and at least one television report about the recently filed Notice of Trustee Sale on Summit at Copper Square high rise. The purpose of this post is to clarify some points made and to further explain others. It is our understanding that the original construction money consisted of two [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, Market Update, Phoenix, Trouble | Comments (13)

Century Plaza Condo Controversy

June 26, 2009 – 8:55 am

I recently received an e-mail from an urban living fan who wanted to let me know that she heard “from a reliable source” that the construction note for Century Plaza had sold or was about to sell to an investor for $27M (this is unverified).  I responded that if that was the case the number [...]

By Will Daly | Also posted in Phoenix, Trouble | Comments (4)

New Reduced Price High Rise Condo Right On Town Lake – This Place Has Everything

June 12, 2009 – 3:28 pm
By joyce | Also posted in Tempe | Comments (1)

Urban Update

June 8, 2009 – 10:29 pm

You might remember me writing about a purchase that fell through at The Vale because the Buyer’s lender would not make the loan because the Home Owner Association (HOA) at The Vale was in financial trouble with 25% of the condo owners behind on paying their fees.  It was my opinion that until the HOA got its [...]

By Will Daly | Also posted in Phoenix, Tempe, Trouble | Comments (1)

Downtown Phoenix High Rise Rentals; CHEAP!

June 2, 2009 – 11:40 pm

We just learned about a steep price cut on high rise condo rentals in downtown Phoenix.  Condos ranging in size from one bedroom with one and a half bathrooms to two bedroom with a den and two bedrooms and priced as low as $1300 per month in an “A-Cabin” building walking distance from everything that [...]

By Will Daly | Also posted in Phoenix, Rentals | Comments (3)

Phoenix High Rise Prices vs. San Diego

May 11, 2009 – 11:21 pm

Talk to Phoenix high rise developers trying to hawk their goods and they’ll tell you their prices make all the sense in the world.  If so, how come no one’s buying?  Sure the market is slow and its harder to get loans today but some people are buying but not at the brand new condominiums [...]

By Will Daly | Also posted in Market Update, Phoenix, Scottsdale | Comments (12)

Buy vs Rent, a Study of Optima Biltmore Towers

May 5, 2009 – 11:11 pm

I heard recently that historically Americans pay 26% more to own property than to rent it.  As I didn’t know whether this was true or not I did a little digging and found a site called www.economicpolicyjournal.com with the following: “After two years of rapid home-price depreciation, the relationship between the cost of rental payments versus after-tax [...]

By Will Daly | Also posted in Market Update, Phoenix | Comments (11)
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