Have you thought about buying a historic home in downtown Phoenix. In years past the prices made this impossible for many. Now, however, short sales and bank owned historic homes have made ownership possible for many more people.

I just ran a search of homes in the downtown region built prior to 1945 and a number of short sale or bank owned homes were among the offerings. FQ Story has a couple homes in the $150,000 range and there was one in Palmcroft for $295,000 or about the same price it sold for in 2003.

There are positives and negatives to buying short sales and bank owned homes. Probably the most significant is these homes are generally sold in AS-IS condition. As Is, in most cases, means the owner of the home will not be making any repairs to the home prior to the buyer taking possession. This is not the case when buying from a traditional home seller who often expects to make some repairs. We have a page on this site that takes a more in depth look at what AS IS means and you may want to take a look at the post and accompanying YouTube video on buying a home in as is condition.

Lender owned homes, most of the time, do not have many other complications outside of the AS IS issue. That can not be said for short sales though. Short sales can be so complex we actually created a web site devoted to the subject of short sales. For information about buying a short sale in downtown Phoenix please visit www.short-sale-phoenix.com.

That’s probably enough for this post. If you want to search for historic homes currently on the market in the downtown Phoenix area, we have a killer home search tool on the site. Here is a link to the search for downtown homes page.

Best to you,

Gene Urban and Ron Urban
The Urban Connection Realty Team
602-234-5777

connecting people to the perfect space