August 2009

Reduced prices at Portland 38

If you are in the market for an urban, loft style condo in the Downtown Phoenix area and have not checked out Portland 38, you may want to take a peek.  The complex, which was designed by local Architect, Michael Underhill, offers some sleek design features including sand-blasted interior block walls, polished concrete floors, Miele stainless appliances, CeasarStone counters, 2′ tile baths, designer lighting, Kohler ‘Stillness’ fixtures, and Western windows.

Each unit at Portland 38 has a private, gated carport, which is rare for a complex of this size.

Common area features include a large play pool with tile accent walls, communal dining/BBQ area, and reflection garden.

There are several different floor plans and some of the best locations in the complex are still available.  The reduced prices start at $164,900.

 

 

 

 

 

For additional information or to arrange a personal viewing, contact Lyle Plocher with Urban Connection Realty at 602 373 3725 or lyle@urbanconnectionrealty.com

Listing is courtesy of City Center Realty

Buying a move-in ready Bank owned home in Downtown Phoenix. How is that possible?

Sam and Kim, a local celebrity couple, who some of you may know, have discovered the secret.  There is currently a Mortgage Loan program which will allow you to buy a fixer and obtain money to renovate the home and combine the 2 loans into one 30 year fixed rate loan.   Sam and Kim,  recently purchased a bank owned fixer near the Park Central Mall.  At the same time that they were approved for their FHA Loan, they were simultaneously approved for approx $32,000 in Rehab money.   Thanks to their very capable contractor handling the Rehab and a little grunt work of their own, they will be able to move in and enjoy their renovated home within the next 30 to 60 days.

 So the moral of the story is, if you have considered a Bank owned home, but realized they were all fixers, fear no more, you can turn your fixer into your dream home before moving in with only a small down payment.

 

 

 

 

 

 

 

For more information about this very special Loan Program or about available Bank Owned properties in Downtown Phoenix, contact Lyle Plocher at 602 373 3725 or lyle@urbanconnectionrealty.com

Pending home sales mark 5th month of growth

Source: Phoenix Business Journal, August 4th, 2009 – Article by Adam Kress

Pending home sales were up for the fifth consecutive month in June, and according to the National Association of Realtors, that’s the first time in six years for such a hot streak.

The NAR’s Pending Home Sales Index, based on contracts signed in June, rose 3.6 percent to 94.6 from an upwardly revised reading of 91.3 in May. The index is now well above last June’s reading of 88.7.

Pending homes sales in NAR’s West region — which includes Arizona — rose 2.9 percent to 100.4, but remains 0.2 percent below June 2008 levels.

Lawrence Yun, NAR chief economist, said a combination of positive market factors is fueling the gains.

“Historically low mortgage interest rates, affordable home prices and large selection are encouraging buyers who have been on the sidelines,” he said. “Activity has been consistently much stronger for lower priced homes.”

Historic Fixer on 2 1/2 lots in Garfield

A property like this rarely becomes available.  This is probably one of only ten truly individually significant historic buildings in the Garfield historic district.  Built in 1913, an original, nearly 2100 sq ft,  two story brick bungalow with formal living, formal dining, large kitchen with original cabinetry and a huge pantry and  laundry room.   Great sized bedrooms downstairs, four bedrooms, bath, and foyer landing upstairs.  Terrific windows throughout and solid wood floors in much of the house.

There is also a two bedroom, one bath guest house in the rear and the property is situated on over 17,000 sq ft of land.

Asking Price is $145,000

For more information or to arrange a personal viewing of the property, contact Lyle Plocher with Urban Connection Realty at 602 373 3725 or lyle@urbanconnectionrealty.com

Listing is courtesy of HomeSmart