April 16th, 2009 by roostblog in Condos
The amounts may not be great on an individual basis but when you add them up across tens if not hundreds of units, the totals can be significant. We’re talking about Condo Homeowner Association (HOA) Dues and some people in Detroit are having a difficult time paying them.
This is pitting neighbor against neighbor. Those who are paying their dues and those who simply can’t or won’t.
In a city that has been rocked by the automobile industry failure and an overabundance [...]
April 15th, 2009 by roostblog in Condos
Pace and size matter in the condo business. These are two of the main differences when it comes to building large urban high-rise condo projects, say in downtown Milwaukee and smaller condo developments in the suburbs, like Waukesha.
With smaller budgets, workforces and exposure, a smaller suburban condo developer can usually wait during a downturn in the real estate market for demand to come back before building more units. Larger urban developments are not as lucky.
It’s a lot easier to delay [...]
April 15th, 2009 by roostblog in Condos
More than a year ago, Lexington was all aflutter about the 35-story CentrePoint tower being developed by Dudley Webb. The commotion didn’t have a lot to do with the luxury hotel or million dollar condos but instead it had to do with some old buildings where new development was proposed to sit.
Now these old buildings we run down and vacant but dated back to the early 1800’s and were a part of Lexington’s history. But progress won out and the [...]
April 15th, 2009 by roostblog in Condos
The Warren Group, a 137 year old real estate and financial information company based in Boston, stated that sales in the state of Massachusetts were off in February. Way off.
They reported that a total of 866 condos were sold in the state in February. This was down an amazing 30 percent from the 1,236 that were sold a year earlier. Coupled with this news was their statement that the median condo price fell 14 percent to $220,000 from $255,750 [...]
April 15th, 2009 by roostblog in Condos
A new 16-story building is going up just inside the West Loop near San Felipe. But this is no ordinary development. It’s Highland Tower.
Located in one of the premier areas of Houston, you can’t go wrong with this state-of-the-art luxurious high-rise that is slated to be completed in early 2010. Houston-based Pelican Builders Inc. broke ground last year on the $65 million condo building located near the upscale Highland Village retail center on Westheimer. It’s in close proximity to [...]
April 14th, 2009 by roostblog in Condos
While most investors were scrapping condo projects left and right, investors in the K4 Court multifamily housing development decided to hang on. And the unique design might just work in the environmentally conscience part of the Pacific Northwest.
Situated in the hip, up and coming part of Northeast Portland, the K4 Court is the brainchild of developer Marlon Basel and architect John Froning. The concrete stucco and wood plank design is certified Earth Advantage platinum and is one of the more [...]
April 14th, 2009 by roostblog in Condos
Well that question might not be answered by anyone except Robert Rowling. You see Rowling, the chairman of TRT Holdings, is going to be taking up occupancy on the entire 33rd floor of the Omni Residences in downtown Fort Worth. Rowling’s company built the Omni Fort Worth Hotel and the attached high-rise condo building, which is nearing completion.
One of Fort Worth’s most luxurious condos to date, the over the top unit will have a private elevator lobby, 1,350 square feet [...]
April 14th, 2009 by roostblog in Condos
Condo prices in King County tumbled again in March, recording the biggest year-over-year drop since the market peaked in mid 2007. Median condo sale prices slid 13.1 percent. Additionally, the number of closed condo sales dropped 44.9 percent year-over-year.
Southeast King County was the exception to the rule in all of this as the median condo prices increased 5.7 percent between March 2008 and March 2009. But this was not enough to keep the entire county above water as the median [...]
April 14th, 2009 by roostblog in Condos
Do you live in the City of Baltimore and are behind on your property taxes? Well if you are, your tax certificate could be one of the more than 23,000 that will go to auction in mid-May.
As you would suspect, many of the properties are rundown, abandoned units that would be less than desirable to own. But at few hundred of the condos are located in upper class neighborhoods with water views or in snazzy downtown locals. Â Some of the [...]
April 14th, 2009 by roostblog in Condos
The recession has reared its ugly head and this time it has touched the Northwest city of Portland. Tom Moyer, one of Oregon’s most successful real estate developers, stopped construction on his Park Avenue West project yesterday and showed everyone that no one is protected from the downturn in the economy.
Park Avenue West is situated on one of the more desirable locations in downtown Portland and was projected to flourish as Portland ranks as having the country’s second most stable [...]
