If you’ve heard of or seen Century Plaza then you know it’s a fantastic building that got caught up in the bust of the real estate market. It’s finally under new management and they are shaking off the old and have renamed the project One Lexington. It’s still the same high class place that it was and still has some fantastic floor plans, amenities and views.
RooPho Realty has the floor plans and new pricing (when available). Contact us for the latest information.
Urban Properties in the Phoenix Metro area are more than Lofts and Condos and the real estate specialist you choose to help you not only understand the type of property and the neighborhood you’re interested in but also one that knows how to negotiate on your behalf. RooPho Realty specializes in Phoenix Urban living and has always included Phoenix historic properties as part of that. Contact the Phoenix Urban specialist that can help you with the whole process of buying an Urban home and you’ll know why we are still selling in this difficult market.
If there’s one thing Phoenix is NOT known for it’s historic homes, but we do have them, at least they are historic to us. Remember, Phoenix wasn’t that big of a city at the turn of the 20th Century but we certainly grew during it. Actually, we grew mostly in the second half of the 20th Century, so Phoenix Historic Homes are few but wonderful. To be historic in Phoenix the property has to be at least 50 years old. Many of our historic homes are Bungalow and Tutor but there are many styles.
RooPho Realty specializes in Urban Living and in Phoenix, that means historic homes too. Most of our historic homes are near Downtown Phoenix and are convenient to the Light Rail, art galleries, museums, theater and many great restaurants. We pride ourselves in understanding the neighborhoods and the types of homes they have so you can find the right place.
Portland Place is one of Downtown Phoenix’s best new communities. Each condo in this community has great upgrades and the community has fantastic amenities and the best one is the roof top pool and BBQ area. Get a panoramic view of Downtown and the Valley from the pool and enjoy it while entertaining guest. Each condo has upgraded kitchens with granite counters, beautiful solid wood cabinets and all stainless appliances. When you come home it will be like being on a great vacation every day and the best part is, the prices have really come down to affordable levels. Some are starting in the high $100’s. WOW, I never thought that would happen.
Now you know where to buy, but who do you buy from? RooPho Realty has been specializing in the Downtown Phoenix market for 5 years and really know the communities but in this market you need more than just someone that knows the communities you need someone that can negotiate in your favor. We all know the market and taken a dive but how much lower can it go? Some think it will continue to go down this year by as much as 6%. If that’s the case you can still buy today and not be underwater if you buy at the right price. RooPho Realty has the experience and the knowledge to help you do that. We sold over 40 properties in 2009 and we know how the banks are working and we know how to negotiate to get you the best deal in the market. In this market you need a good real estate negotiator that can get you the best value.
Phoenix home values have gone down to much more affordable prices. Some properties that once sold for well over a half a million dollars are now in the $200 and $300 thousand dollar range. Artisan Lofts on Central won awards for the architecture and design and for good reason. The condos all have open floor plans and plenty of window to see great views of downtown Phoenix and surrounding mountains. Each unit on the top floor (4th) have their own private roof top patio and there’s a roof top patio for all home owners with a BBQ and furniture so everyone can entertain guest or just go up and enjoy the view. There’s a Light Rail stop just outside the front door and a wine bar on the street level in the building.
RooPho Realty specializes in Downtown Phoenix while also serving the whole Phoenix Metro area. As a Native Phoenician, Chris Campbell knows the neighbors and their ups and downs. Chris has been specializing in Downtown Phoenix condos since before the big real estate boom of 2004 and 05 and created a relationship with most of the developers giving him an insight on the projects and construction. Chris also kept files on each project with floor plans and original price list. But what you really need is a professional that can negotiate in this market. All the rules have changed from the so called ‘normal’ real estate transaction and now you need someone that understands how the banks are running things. This market is, by definition, a buyers market but don’t let that fool you. The Banks are in control because most of the properties on the market today are either Bank owned or Short Sales and you have to play by their rules. So when deciding on buying a home in this market, make sure you have someone like Chris that understands how the Banks are playing the game.
The Phoenix condo market has taken as big of a hit in this economy as anywhere including Tapestry on Central. What makes Tapestry different? It is a well built community with great amenities and the prices are finally where they should be with prices currently starting in the low $100’s. The community features a lap pool, work out room, underground parking and a club house. The neighborhood offers a Light Rail Stop right in front of the Central Ave Building where you can get to plays, symphonies, museums, restaurants, baseball and basket ball games. Not to mention the many restaurants within walking distance and the Heard Museum right across the street.
RooPho Realty specializes in the Urban Phoenix market because we believe in it and live in it. We’re located in the Roosevelt Phoenix Art District and operate out of our Live/Work condo so we know what urban living is and have sold many properties in the 4 years we’ve been here. Take a minute and check out our very up-to-date website with the latest information on the Urban Market and the general Phoenix Metro market.
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Downtown Phoenix residential properties are a good buy today. But it’s not surprising that you might be a bit nervous about buying a property right now even if it is in Downtown Phoenix. As you probably know, Downtown Phoenix has been in revitalization mode for the last number of years until the economic crash stalled almost everything. The good thing is that the real estate bubble burst has reduced prices back to something that regular folk can afford. There are many one and 2 bedroom condos priced under $100k that are within walking distance to a light rail stop and there are some very nice Phoenix Historic Homeswhose prices have come back down into the low $200k. Most of these prices are around 50% less then they were 2 and 3 years ago but as they say, “that was then, this is now.” Home prices from 2 and 3 years ago have no baring on the value today. Seller’s hate to hear that but facts are facts. So what do you do now? Call me to see if there is a property out there that meets your needs and rest assured that you are getting a Native Phoenician that specializes in Downtown and Central Phoenix and really understands the market and the neighborhoods.
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There are many condo communities that boast Live/Work units in the Phoenix, Scottsdale and Tempe downtowns but only Phoenix has true Live/Work units and there are only 10 of them and one is finally on the market. This is a great unit with a store front that is street level and living space upstairs and the two are connected making this a true Live/Work Condo. Located in the heart of the Roosevelt Arts District and the First Friday Art Walk, this is a great opportunity to start your own business.
The RooPho Realty office is located in another of the Artisan Village Live/Work Condos and speaking from experience, this is a great way to run your own business and have a store front in an up and coming area of Downtown Phoenix.
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The recent HUD announcement stated the HUD was lifting the 90 day flipping rule effective 2/1/2010 and will not loan on a property that has not been owned by the current owner for more than 90 days. Until now, the current had to own the property for 90 days before FHA would insure the loan. This is for contracts effective 2/1/2010. It does not apply to contracts or loans already in existance. Again this waiver DOES NOT apply to existing loans or contracts. It applies to new contracts 2/1/2010 and later.
This 90 day waiting period has kept many buyers from purchasing the home they really wanted because they wanted to use FHA financing. Now they will be able to us FHA for many homes and condos in the valley.
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It was announced the other day that 44 Monroe, the 33 story luxury high rise condominium building is up for sale. Grace Developers sold only about 9 of the condos before the market fell out from under us and the project will be filing for bankruptcy soon. In the meantime, the remaining units will be auction off as one sale. This will remove some of the debt and Grace Communities from the project. The auction is currently scheduled for April and once complete, they should be ready to start selling the individual units again. It will be interesting to see what prices they put on the unit and what price the HOA monthly dues will be.
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