Top 7 Reasons To Live In A Condo In Phoenix

Condo living in Phoenix is a growing real estate trend this year, for a number of reasons. Chris F. Campbell of RooPho Realty explains why increasing numbers of home buyers are looking for a condo or loft in the city.

Low Maintenance

Possibly the number one reason that the market is moving toward condo living in Phoenix is the “Lock and Leave” lifestyle, Chris states. “There is no or low maintenance on these properties.” Condo associations take care of the mowing and landscaping, exterior cleaning and maintenance of the properties.

Walk-Friendly Communities

Many condo and loft properties are located in more urban areas featuring easy access to culture, dining and entertainment. “Walking to dinner and entertainment is a major benefit to living in these communities,” says Chris.

Flexibility

A common misconception is that condos and lofts are only for the young or single. “The truth is that condos come in many sizes and prices.  2000 square feet with 2 bedrooms, den and 2.5 baths for example.  Some condos even have private 2 car garages and private courtyards.  Others are small 600 square foot studio style.  There’s something for everyone and every lifestyle,” Chris explains.

Security

Condo living in Phoenix often feels safer than living in a traditional house in the suburbs. The majority of condos have a higher security level than miscellaneous neighborhoods and may feature gates, secured floors and trained security personnel on the property. This living arrangement allows you easy access to other residents which is a valuable commodity in an emergency.

Community

Condo and loft communities frequently have a close-knit family feel. You get to know your neighbors by using common areas and amenities. Many condo associations offer community events that facilitate socializing of neighbors.

Commuting

Do you work in the city? Urban condos and lofts are well situated so your commute is likely minimal. You might walk, bus, bicycle or “use the light rail for getting to the airport, Tempe and downtown from midtown.” Chris informs. The multitude of commuter options might reduce or even eliminate your need for a vehicle helping you BE green and SAVE green.

Amenities

Last but often best are the fantastic offerings that many condo communities boast. Sparkling pools and beautifully maintained common areas like clubhouses or ramadas will increase your enjoyment of the property without requiring any actual effort on your part. Fitness centers WILL require effort, but only as you exercise your way to health!

Condo living in Phoenix is a blossoming trend that is likely to become a phenomenon in 2015. “Unless your kids need a yard or your horse needs a stable, then condo living may be just what you are looking for!” Chris concludes. To discuss these beautiful properties, contact us today!

A big problem with home sales has been the Millennials are not buying like that age group had in previous years. That creates a chain reaction when people that want to move up don't have as many people looking to potentially buy their home.

Thinking about buying a house? Start with this check list. 1. Decide how much you want to spend. 2. Check your credit report and score. 3. Find a lender to determine how much you can borrow. 4. Call RooPho Realty to start researching neighborhoods and what you can buy in your budget.

Phoenix-area home prices rose fast from September 2011 to last summer, before slowing down and then even dropping a little bit earlier this year. This April, for the second month in a row, the median single-family-home price was just under $205,000. That’s up 13 percent – from $181,399 last April to $204,900 this April. Realtors will note the average price per square foot was up 12 percent. The median townhouse/condo price went up 4 percent. - from AZBigMedia.com

There are currently 17 condos for sale at Tapestry on Central. They range in price from $228k to $382k. These are all 2 and 3 bedroom condos. The community is located right on Central Ave at the Encanto Light Rail Stop. Contact me for a list of everything on the market right now or just enjoy the community pictures in the link below.

Summit at Copper Square

The Summit at Copper Square High Rise Condominium is just across the street from Chase Field and 2 blocks from USAirways Arena. There are currently 16 condos for sale ranging in price from $177k to $469k. Contact me if you'd like more information or if you'd like to see them.

Metro Phoenix home values still going up, but slower.

Metro Phoenix home values went up 18% on average over the last year.  They are expected to up another 4% this year and just under 3% in 2015.  This is not unlike what happened in the 90's after the recession of the late 80's.  Home values went up very slow then too. 

Phoenix is one of the top 10 cities people are moving to in the US.

Phoenix is one of the top 10 cities people are moving to in the US.  With all the sunshine, jobs and affordable homes for the working and middle class, Metro Phoenix continues to be a favorite place to live.

Other desirable cities are Huston, Chicago, Orlando, Dallas, Seattle, Tampa, Atlanta and Las Vegas. 

Nationwide home prices went down from Nov 2013 to Dec 2013.

CHRISTOPHER S. RUGABER
AP Economics Writer

U.S. home prices slipped from November to December, and the year-over-year increase slowed, likely a result of weaker sales at the end of last year.

Real estate data provider CoreLogic says prices dipped 0.1 percent in December. It was the third straight month-to-month drop. Home prices had risen for eight straight months through September.
For all of 2013, prices rose a healthy 11 percent. That was roughly equal to the 11.4 percent price increase for the 12 months that ended in November.

More Homes for sale in the Phoenix market

There are 40% more homes for sale in the Metro Phoenix market making it a better market for Buyer's than last year.  With interest rates still very low, Buyer's are coming back and still getting good deals.  Home values have increased in the last 18 months but prices have leveled out and don't appear to be going up very fast.

Using equity in your first home to buy a second home?

REALLY?  CNN money has a story suggesting you use the equity in your first home to help you with a down payment on a second home.  REALLY? Are they kidding?  Is that just one of many things that people did in 2005 and during the recent housing boom and got us into the Great Recession? 

How many times have you read story's about people then losing both homes?  Sometimes the first home was one they had owned for 20 years or so. 

Don't get me wrong.  Real Estate is a great investment right now.  But if you have money in one piece of real estate, maybe you should just leave it there.  If you have money in stocks or a savings account and that's not making you much money, maybe that's what you should use.  Always consult a financial advisor because these questions are so personal to your specific financial life. 

Right now, homes are selling well in may areas, especial home for sale in Phoenix.  And many believe, including me, values will continue to go up for about the next year.  However, I admit the values have gone up in the last year faster than expected, but I have a hard time believing they will continue and get us back into another bubble.  If they do, and you use your current equity for another home, that's a big risk.

Think of Las Vegas, you're at the craps table and your up $50k.  If the right dice come up, you win, if not, you lose.  Can you afford to lose? 

http://money.cnn.com/2013/08/16/pf/expert/home-equity/index.html

Arizonan's behind on Mortgage Payments dropped significantly.

Arizona seems to be beating out other states in our recovery from the Great Recession.  I've lived here all my life and although I'm not an economist, it always felt like the recessions in Arizona weren't as bad as other states.  That is until this latest housing bust.  But I've been feeling optimistic and it seems that optimism is paying off.  People late in making their house payments had dropped more in AZ than other states and our values are increasing at higher rates.  There's a lot of reason to be optimistic.  www.AZNativeProperties.com

Phoenix Commercial Real Estate picking back up.

Ronald Hanson of the Arizona Republic is reporting that commercial real estate is picking up.  Phoenix Commercial Real Estate often follows residential real estate in the Metro Phoenix market.  As Downtown Phoenix residential sales started to slow down, the commercial market did the same. 

How that Metro Phoenix has been picking back up, the commercial market is following suit. 

Most of the residential building in Central Phoenix, Downtown Tempe, Downtown Scottsdale and the Biltmore Area have been rental or assisting living.  The residential market needs to get a bit stronger before Condos and Town homes start building again.  However, Phoenix Historic Homes are stilling coming on the market and at reasonable prices.

AZ Central whole story

Are interest rates going up?

Will rates rise or remain relatively unchanged? Experts and Bankrate analysts predict where mortgage rates are headed over the next week.This week (May 30-June 5), 40 percent of the panelists believe mortgage rates will rise over the next week or so, 40 percent think rates will fall, and 20 percent believe rates will remain relatively unchanged (+-2 basis points).

Sounds like a tie doesn't it.  The word on the street is rates are going up, we just don't know how fast.  Values are still going up and in some areas faster than others.  Contact RooPho Realty for more information.

900 Devonshire Condominiums

 Located just North and East of 7th Street and Indian School, 900 Devonshire is a gated community with 4 floors.  All units are flats and the buildings all have an elevator.

Nice floor plans with 1, 2 and 3 bedrooms.  Some have very large kitchens with a lot of cabinets and counter space.

Some units come with 1 car garages.  The community also has a heated pool, spa and workout room.


Prices continue to be in the low, between $90k and $120k for the 2 bedrooms.

You Tube video for 900 Devonshire

Contact me if you'd like more information.
Chris@RooPhoRealty.com or 602-224-0554

Fewer Homes for sale in Phoenix!

The number of Americans who signed contracts to buy hoems ticked up in April to the highest level in three years, pointing to growth in home sales in the coming months.

But fewer homes for sale may be holding back sales in tight markets out West, such as Phoenix and Las Vegas. In those cities, many homeowners still owe more on their mortgages than their homes are worth.

Investors are still buying homes up also.  There are fewer bank owned homes and short sales than in the past year.  Although there are still many homeowners 'underwater' on their mortgages, these may be the people who are going to tough it out and keep their payments up to date.

www.AZNativeProperties.com

Madison Groves Manor

 Madison Groves Manor is a small gated community of single family homes tucked away south of Glendale Ave near 14th Street and Maryland. 

There are only 22 homes in the whole community.  It's nice to be where everyone knows your name and watches out for their nieghbor. 

 Homes are 2 to 4 bedrooms and range from 1250 square feet all the way to over 3300 square feet.

All homes have a 2 or 3 car garage and a private backyard.

There's also a heated community pool and spa for everyone to enjoy.

 The community is located close to the 51 freeway entrance of Glendale Ave and Bethany Home Road.  Very easy access to The Biltmore, Downtown Phoenix and Sky Harbor Airport.

It's also just a short walk or ride to Piestewa Peak and the hiking trails, mountain biking trails and picnic tables.

Contact RooPho Realty at 602-224-0554 or Chris@RooPhoRealty.com for more information on Madison Groves Manor or any other community in the Valley.  We help people buy and selle homes throughout the Valley.

 

 

 

 

Canterra at Squaw Peak

 Have you heard of Canterra at Squaw Peak?  It's a gated community with 2 and 3 bedroom condos.

Located just West of the 51 on Northern Ave.  Basically it's in the middle of the Valley with easy access to everything.  Just a few miles down the 51 from The Biltmore area and a not much more than 15 minutes to Downtown Phoenix or Sky Harbor Airport.

The condos have open greatroom style floor plans with balcony's that can fit a table for 4.

Many units have great views of Piestewa Peak and mountain preserve land.

All units have a private garage, some are 1 car and others are 2.

There's also a large community pool for cooling off after a warm day or a workout in the community gym. 

Currently prices are from the high $100's to the mid $200's. 


Contact RooPho Realty at 602-224-0554 or Chris@RooPhoRealty.com for more information on this or many other communities throughout the valley.

Piestewa Peak Area Real Estate

RooPho Realty helps buyer's and Seller's all over the valley and we just added a new page with properties in the Piestewa Peak / Squaw Peak area.  Check out the great communities listed near the Peak and all the other areas of Metro Phoenix.

We can help you with all residential properties throughout the valley.

Investors are buying less in Metro Phoenix, but still buying.

Wall Street funds and other large well-funded investors continue to buy houses in metro Phoenix, even though the pace has slowed as sales prices have jumped.

Some of the early investors, who bought in 2009, have flipped the houses for a quick profit, but most of these buyers are holding on to the properties and turning them into long-term rentals.

Get information on Urban Properties