Condo Conversions Do Brisk Business
More rentals are becoming owner occupied properties...
The Arizona Republic reports on Chandler's first large condo conversion, Lakeshore at Anderson Springs, located near Ray Road and Dobson. In the first two weeks that Lakeshore units have been for sale, 225 units have been reserved out of the 299 units. Starting prices at Lakeshore are $112,000 for a one-bedroom unit up to $164,000 for a three bedroom unit. Many of the sales have been to current residents of the complex.
The demand for these affordable units is being driven by the sharp rise in the cost of single-family homes. The conversion craze began in Phoenix in 2003, when 357 units were converted. That rose to 2,119 in 2004, and in the first half of 2005, 2,268 units have been converted. More...
Look for this trend to continue!
posted by Arizona Real Estate News @ 1:07 PM
2 comments
2 Comments:
Do you know where I might find HUD condos for sale in Arizona?
Government owned homes are placed on our MLS system on a regular basis. But, right now HUD homes are selling for market value. So, my advice would be to get together with a local real estate agent and discuss your needs.
I have a small team of professionals that could assist you if you do not have an agent already.
Our main website is PhoenixHomes.com. Visit us there if you need further assistance.
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