category archive listing Category Archives: Market Update

High Rise and Loft Condo Sales Jump in 2009

January 6, 2010 – 9:17 am

I just dug through some more MLS data.  As I’m sure all our readers would expect, the number of high-rise and loft foreclosures and short sales were way up this last year. From January 1 to December 31, 2008, the total number of “distressed” sales of high-rise condos and lofts was 94.  These 94 properties [...]

By Will Daly | Also posted in High Rise Condos, Lofts | Comments (30)

Urban Condo Status – Year End 2009

December 29, 2009 – 4:27 pm

Boy 2009 was a chaotic year for urban condos in Phoenix, Tempe and Scottsdale!  Here’s a snap shot of what we went through and where we are today. Century Plaza, Phoenix - M&I Bank, the original construction lender has finally taken the property back from the developer.  Work has commenced on 13th floor condos but we don’t know [...]

By Will Daly | Comments (4)

More Data Reflecting Sales in Phoenix and Scottsdale

December 22, 2009 – 9:24 pm

Joseph Lee commented on a post I wrote two weeks ago, Why is Real Estate Inventory Down…Sales!, that I thought was worth sharing further.  He wrote: “Not all cities are created equal: 2008 (12/17) 2009 (12/17) All counties 56,434 88,478 Phoenix 12,285 24,346 Scottsdale 4,309 5,459 Paradise Valley 174 255 This is just MLS and does [...]

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

Two More Reasons To Buy Real Estate Now

December 16, 2009 – 11:10 am

A friend has strongly suggested that I NOT write about what you’re about to read, the possibility of higher interest rates and/or inflation in the near future.  His reasoning is that by discussing such topics I might A) confuse folks unnecessarily and/or B) discredit myself in the event that neither (i.e. higher interest rates or [...]

By Will Daly | Comments (20)

Why Is Real Estate Inventory Down….. Sales!

December 10, 2009 – 3:13 pm

We got several responses to last weeks blog; some in agreement and some in disagreement.  One of the people who disagreed with the assessment said that the only reason that “actively for sale” properties are down is because a person would have to be “crazy” to try to sell their homes or condos in today’s [...]

By Will Daly | Also posted in Trouble | Comments (10)

The Real Estate Market is Improving – See The Numbers

December 2, 2009 – 2:06 pm

We talk to countless people who really want to buy an urban condo but are afraid. They worry that prices are going to go down further and hurt them as the eroding market has hurt so many others. Here are some great numbers that put the current Phoenix real estate market into perspective. This data [...]

By Will Daly | Comments (12)

965 People Visit WeKnowUrban.com Last Monday

November 22, 2009 – 8:28 pm

Admittedly, few of you will care about this but it’s a very big deal for us; we had almost one thousand unique visitors” to www.WeKnowUrban.com last Monday (and 907 the Monday prior). So what?  Well other than the boost to my ego, having so many visitors means great things for our clients.  For sure the more exposure, [...]

By Will Daly | Comments (7)

Why Short Sales are Such a Pain in the Neck

November 18, 2009 – 11:44 am

A “short sale” occurs when an Owner of a property has to sell it for less money than is owed to the Lender(s). It is sold “short” of the amount that is owed. Quite often the Owner of the property is experiencing financial difficulties and no longer making the mortgage payment and elects to sell [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's | Comments (7)

Bridgeview at HFL’s 64 unsold units sell for $20.3 million

August 26, 2009 – 11:12 pm

Late last week, a Denver based real estate investor purchased the remaining 64 unsold condominiums in Hayden Ferry Lakeside’s Bridgeview tower for $20.3 million.  Suncor, master developer of the mixed-use complex has been hit very hard by the economy and unfortunately had to let go of their gemstone development, in addition to a reduction of [...]

By Mitch | Also posted in Foreclosure-short sales-REO's, Hot Deals | Comments (17)

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, High Rise Condos, Phoenix, Trouble | Comments (2)
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