category archive listing Category Archives: Market Update

Using an FHA Loan to Finance a Condo

June 22, 2009 – 10:08 am

Despite the slowdown in the national housing market, condominiums remain a popular option among home buyers. But they’re also at the heart one of one of the biggest misperceptions surrounding FHA loans. There are some strings and limits, but make no mistake — you can obtain FHA financing to help purchase a condominium. The Federal [...]

By Will Daly | Comments (9)

America Shifting to Urban from Sub-urban

May 20, 2009 – 1:01 pm

MSNBC recently reported that, “Most demographic and market indicators suggest that growth and development across the country are moving away from the suburban and exurban fringe and toward center-cities and close-in suburbs.” The article goes on to report that the reason behind the shift is multi-fold including, “Empty-nesters don’t need the big house and don’t [...]

By Will Daly | Also posted in Light Rail, Phoenix | Comments (0)

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 High Rise Condos, 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 High Rise Condos, Phoenix | Comments (11)

Phoenix High Rise Condo HOA Survey

May 3, 2009 – 10:21 pm

We just took a detailed look at Home Owner Association fees at all Phoenix high rise condo buildings for the last five years.   For the most part you will see a gradual increase in the older established buildings while increases were somewhat extreme in the newer buildings.  A cynic might believe that the reason the [...]

By Will Daly | Also posted in High Rise Condos, Phoenix | Comments (3)

State of the Market?

April 26, 2009 – 9:23 pm

Ok I know that there is still tons of bad news out there and plenty of reasons to believe it but here are a few things that MIGHT indicate that the real estate market is starting to firm up in Phoenix. 1.  A mortgage lender friend of mine says that April will be his best month [...]

By Will Daly | Also posted in Foreclosure-short sales-REO's, Phoenix, Trouble | Comments (14)

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, Trouble | Comments (3)

Optima Camelview Village Seeing Trouble

March 21, 2009 – 9:49 am

Using tax records and MLS data we see that sixteen condos at Optima Camelview Village in Scottsdale have been foreclosed upon and are now bank owned.  Of those, eleven are on the market for sale by the lender.  There is no way for us to know how many of these will ultimately go into foreclosure [...]

By Will Daly | Also posted in Scottsdale, Trouble | Comments (9)

What I Was Being Secretive About…

March 18, 2009 – 10:18 pm

A week ago or so I wrote a blog post telling prospective high rise condo buyers to hold off until further notice because I had big news forthcoming.  Well the news was that M & I Bank, the construction lender for Century Plaza, is selling the note.  Basically, M&I took the $70 some-odd million dollar [...]

By Will Daly | Also posted in High Rise Condos, Hot Deals, Phoenix, Trouble, What's New | Comments (4)

2008 Phoenix Urban Analysis

January 20, 2009 – 10:13 pm

I was an English Literature Major so naturally I love to work with numbers right? Wrong! But as much as numbers challenge me I just came up with some very interesting figures. I ran searches for all sales in Phoenix of high rise and loft buildings for the period of January through June and July [...]

By Will Daly | Also posted in Phoenix | Comments (2)
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