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The Emerging Market of Condominiums
Post Your Comments Published by Patrick Warholic on September 15, 2007 at 12:24 AM.
Condominiums are designed to provide multi-family housing and are good solutions for many homebuyers.
Indicators for a Strong Market in Multi-Family Housing Units
If condos are such a good investment - why are there so may for sale?
The supply outweighs the demands. When a single home is offered, that is one home on the market but when a developer sells a project, it is usually 500 plus homes to the market. An oversupply doesn’t always mean the product is deficient. When affordable housing is available, why would you pass it up? Ask your realtor about the great Condominiums or Townhomes in your area. Your Realtor has the connections for exactly what you are looking for.
Folsom Luxury Homes and Land Specialist
Our motto is to always "Do the Right Thing", starting with providing premier executive service to buyers and sellers of luxury homes and land.
For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free MLS Home and property searches, free real estate reports, information for sellers, information for buyers, and find out exactly what your home is worth with a free home valuation, with current up-to-date market information provided for you.
Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.
Indicators for a Strong Market in Multi-Family Housing Units
- Single and Non-Traditional households represent the majority of housing consumers.
- Single Women make up nearly a quarter of the homebuyer market and they prefer Multi-family Housing.
- Condos are also gaining interest among first time home buyers, empty nesters and retirees.
- Condos are great second homes
- And usually they are owner occupied instead of renters.
If condos are such a good investment - why are there so may for sale?
The supply outweighs the demands. When a single home is offered, that is one home on the market but when a developer sells a project, it is usually 500 plus homes to the market. An oversupply doesn’t always mean the product is deficient. When affordable housing is available, why would you pass it up? Ask your realtor about the great Condominiums or Townhomes in your area. Your Realtor has the connections for exactly what you are looking for.
Folsom Luxury Homes and Land Specialist
Our motto is to always "Do the Right Thing", starting with providing premier executive service to buyers and sellers of luxury homes and land.
For more information from California Home Network visit Patrick Warholic, The Internet Home Marketing Specialist for free MLS Home and property searches, free real estate reports, information for sellers, information for buyers, and find out exactly what your home is worth with a free home valuation, with current up-to-date market information provided for you.
Contact Patrick Warholic, Realtor, CCRA, SRES, ASP, and e-PRO certified.
1 Responses to “The Emerging Market of Condominiums”
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I agree that condominiums are a solution to providing multi-family housing to buyers. This is definitely the case right now in many major cities, especially in South Florida. One reason for this is that a key developer in the area, The Related Group, has recently added an Attainable Housing Division to the company, which is geared toward the workforce, generally individuals whose salaries start at $40,000. This division has introduced nearly twelve-hundred residences Downtown, including four “Loft” brand projects to the heart of downtown Miami. The latest on the market and the newest addition to Related’s dedicated Attainable Housing Division, Loft 4 is a gorgeous high-rise condo that is about creating a mix—of people, of pricing, of real estate and of lifestyle.
In order to embrace the people who would never fathom owning a home, let alone in a burgeoning urban core, Loft 4 is truly an outreach to city and county workers, hospital employees, students and teachers, secretaries, etc. who can now afford luxurious living. The average price point for downtown living is in the mid $300s while Loft 4, in sharp contrast, starts at $139,000 and 85% of the Loft 4 units are priced under $300,000. Yet at this affordable price, get a luxury product: a 36 story high rise that stretches over the downtown skyline offering phenomenal city and water views; an in-town location with ground floor retail; a free public transportation system virtually at its front door; and a close proximity to Miami’s major employment centers; also the glamour of South Beach and serenity of beaches is a short ride away.
In short, Loft 4 provides individuals with an attainable living opportunity, but its high-end finishes, ample amenity showcase, and desired locale reflect that of a luxury product, that would only be available to multi-millionaires in other cities such as New York, Los Angeles, San Francisco, Chicago, etc.