During the crazy days of 30 and 40 % annual appreciation in our local Real Estate market, just a few years ago, living in a Downtown Phoenix condo or loft was reserved primarily for the wealthy who were buying units as second homes, with a few owner occupants who worked downtown and a few empty nesters mixed in to the equation.
For those individuals who currently work downtown and are still interested in walking or biking to work, Condo living has actually now become affordable due to the beating that local real estate values have taken in the last few years.
As an example, Lender owned loft units at the Orpheum Lofts are currently being offered at the $100,000 price point. With a 20% down payment and even with the steep HOA Dues there, an owner occupant could be looking at a total monthly outlay for housing of under $1200. For many professionals working in Downtown Phoenix, that is affordable.
Other downtown complexes such as the Summit at Copper Square, Stadium Lofts and Artisan Parkview are presenting the same kind of affordable, lender owned purchase opportunities.
To find out more about current properties on the market in Downtown Phoenix, contact Lyle Plocher at lyle@urbanconnectionrealty.com or 602 373 3725
480-473-7855 looking for a place to rent downtown and then will later be buying