downtown phoenix condos for sale
Realty Executives Meets at One Lexington in Downtown Phoenix
April 14, 2010 by The Urban Team · 1 Comment
Our office, Realty Executives Center Pointe, held our April meeting at One Lexington, the exciting condo development in mid-town Phoenix yesterday. It was good to share this project with many friends in the real estate business.
Our meeting was held in three bedroom model on the 13th floor. Our friend and fellow realtor, David Newcombe, led the discussion outlining the many features One Lexington offers.
As I mentioned in prior posts, One Lexington excites me. It is a rare project where an incredible commercial building with mammoth views was converted to residential living. In the process, the place was taken down to its shell and reformed from the ground up with all new materials, electrical, plumbing, HVAC, windows, and more.
What excites me most is the pricing. In my humble opinion, this may be the best deal we’ll ever see in downtown condo dwelling. The original makeover project was lost to trustee sale. The new owners, McDonald Development, purchased the project for pennies on the dollar. The result is One Lexington units are priced at a level that can’t be matched by future builders.
Speaking of pricing, did you know the one bedroom units can be had for as little as $154,700 and the 3 bedroom condos start in the low $400,000. To me that’s remarkable and worth thinking seriously about.
A few things of note we learned at the meeting include:
Almost every unit is priced so you can use either FHA or Conventional Financing.
Met Life Home Loans, the lender of choice for the project, offers 3 months free HOA’s with purchase.- Homeowners have their own separate storage room included with their condo.
- There are no upgrades to worry about. What you see is what you get for one price.
- The pool and workout areas are exceptional for this price and size development.
- Light Rail is just a few steps away from One Lexington.
- They are happy to work with you and your own real estate agent. No extra charge for doing so either.
All in all, the agents from Realty Executives were impressed with One Lexington, as had the Urban Team. All agreed this is a condo development they would be proud to show their clients.
Have a great rest of your day and let us know if you’d like to set up an appointment to see One Lexington.
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Other Articles We Have On One Lexington, Phoenix
http://urbanconnectionrealty.com/2010/04/one-lexington-hoa-fees/
http://urbanconnectionrealty.com/2010/04/one-lexington-has-affordable-one-bedroom-condos/
downtown phoenix condos for sale
Bank owned Condos making Downtown Phoenix affordable
January 8, 2010 by Lyle Plocher · 1 Comment
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
