We Do Short Term Rentals - 11/21/09 02:28 AM
You asked for it so we went out and got it.  Short term rentals that is.  In the past we turned away many people who needed help finding cool condos in downtown Phoenix because there flat out wasn't anything available, until now.  We now have access to VERY nice furnished one and two bedroom high rise condos right next to the baseball stadium downtown.  These condos are available for as short as one night and for as long as six months.  Each condo comes fully furnished, with complete kitchens, wi-fi, Direct TV, and even room service from a local restaurant.  Enjoy the "A-Cabin" amenities … (2 comments)

Phoenix vs San Diego Prices - 11/21/09 02:26 AM
Talk to Phoenix high rise developers trying to hawk their goods and they'll tell you their prices make all the sense in the world.  If so, how come no one's buying?  Sure the market is slow and its harder to get loans today but some people are buying but not at the brand new condominiums in midtown and downtown Phoenix.  Sounds like a price issue doesn't it?
Because high rise living is so relatively new to Phoenix one way to get a perspective on values is to look at what's going on in other markets.
The San Diego high rise boom began … (3 comments)

Condo Market Here in The Valley is at or Near the Bottom - 11/21/09 02:21 AM
It is clear that the condo market here in the valley is at or near the bottom and while many have suffered, others will make huge gains in the near future.  It is unknown how much Wells and Arsenault will market the remaining units at, or even if they plan to market them now for sale.  Many other condo projects and condo conversions around town have been quickly changing or reverting to rentals ever since the market fell apart.  As for Bridgewater, it might be harder to lease them as problems could spark with the HOA, but either way, people with … (1 comments)

Tempe Brownstone For Rent - 11/21/09 02:16 AM
This is a We Know Urban Realty exclusive opportunity (meaning no other realtor has access to it yet). This one bedroom plus loft (or two bedroom depending on how you use it) is top notch. Its super clean, heavily upgraded and located just a half mile from Mill Avenue in the very popular Brownstones at Tempe community. You gotta see this to really appreciate it. Oh, and its the only town home currently for rent at Brownstones at Tempe.  Rents for $1850 per month. Contact We Know Urban Realty for more details or for a showing
… (0 comments)

Is it Time to Buy? - 11/21/09 02:14 AM
It is our opinion that there are great deals out there for those who know where to look AND who meet certain other criteria.  If interest rates do go up, and I strongly believe they will, then you might want to take advantage of today's low rates, take advantage of the many sellers who really do need to sell (at lower prices), and get yourself a great urban condo now rather than later.  Don't be one of those folks who years from now say "boy I really wish I had bought when I had the chance."  Call us at We Know Urban Realty … (3 comments)

An Anonymous and Somewhat Derogatory Email - 11/21/09 02:11 AM
I got an anonymous and somewhat derogatory email from a person who was pretty indignant about my previous blog post.  One of his or her many points was "In my entire career, I've never seen a real estate firm post a "negative" about a building. The article states that removing the lock boxes will cause home values to decline. No, what will cause it to decline is a negative blog posting that will never be removed from the internet once it's indexed in all the browsers."
I'd like to respond.
First of all, I believe that we real estate agents have … (2 comments)

Worth saying again . - 11/21/09 01:57 AM
We're not posting all the details on the web but if you are looking for a live/work town home in Scottsdale then call us right away. 
There are a handful of 3 story, 3 bedroom, 4 bathroom, 3,000+ square foot town homes zoned for both light commercial and residential use located minutes from downtown Scottsdale about to go to auction.  The official "public" announcement won't go out until Wednesday so if you want the jump on everyone else then contact us now.
… (0 comments)

Short Sales So Darn Difficult To Close? - 11/21/09 01:43 AM
A "short sale" occurs when an Owner of a property has to sell it for less money than is owed to the Lender(s). It is sold "short" of the amount that is owed. Quite often the Owner of the property is experiencing financial difficulties and no longer making the mortgage payment and elects to sell the property short rather than allow it to go into foreclosure. Unfortunately, despite the best efforts of thousands of great real estate agents, short sales prove to be extremely frustrating and more often than not fruitless endeavors.
Why? After all, one would think that all parties … (1 comments)

Camelback Corridor Was a Long Way - 11/15/09 03:39 PM
The Camelback Corridor to us runs from approximately 44th Street, west along Camelback Road, to about 12th Street. It also runs north and south from Camelback Road from about Bethany Home Road to about Osborn or so. Some of the condo communities to the right do not fit exactly within these parameters but they fit better in Camelback Corridor than any other geographic category. Camelback Corridor is largely defined by Biltmore Fashion Park and the intersection of 24th Street and Camelback. The area thrives with high rise condo buildings like Esplanade Place, 2211 Camelback, and Optima Biltmore as well as equally … (1 comments)

Condos in Phoenix - 11/15/09 03:37 PM
For decades high rise condos in Phoenix were rare. In fact until 1990 there were only four high rise condo buildings in the entire Valley, all located in the Phoenix Midtown area. And those four towers, constructed in the 1950's and 1960's, were built as rental apartments and only later converted to condominiums.
In 1990 construction began on Crystal Point, the first high rise condos in Phoenix. Unfortunately that was the same time that the Savings and Loan crisis hit the country and sales of these Phoenix condominiums were slow for almost a decade.
It wasn't for another ten years that … (1 comments)

Rocky Point Life Style! - 11/15/09 03:34 PM
Two bedroom two bath condo in Las Palomas' newest and nicest building. This 7th floor condominium has fantatic views of the beach, four swimming pools, the lazy river, downtown Rocky Point and the old port (the best "city light" views in this sleepy town).
This 1700 square foot condo has a big open great room feel with the living, dining, and kitchen looking out onto a 45' long 500+/- square foot balcony. Contemporary decor with dark woods, chocolate leathers, platform beds, designer bedding, custom window coverings and modern lighting. Amenities include three flat screen tv's, three dvd players, desktop computer with … (0 comments)

Additional Info on the Optima Purchase of Orchid Tree - 11/10/09 08:28 PM
My previous post on the topic stated the purchase price as being $15M.  The actual amount was closer to $16M.  Optima reportedly purchased the 278 unit apartment complex with the intent to tear it down and build upscale luxury condominiums on the 8.54 acre site.  I am very curious to know what the proposed time frame is.  It is my guess that we are years (maybe even five years) away from enjoying a real estate market strong enough to support new construction of mid-rise luxury condominiums.  We will see.....
… (0 comments)

Put the power of the WeKnowUrban.com website to work for you - 11/10/09 08:26 PM
Hire We Know Urban Realty and rent your high rise, loft, or urban condo fast.
Put the power of the WeKnowUrban.com website to work for you. With 5,000 visitors every week and one hundred twenty rental inquiries every month we are THE agents to rent out your urban property right away.
In 2009 alone we will help over one hundred landloards and tenants with their high rise and urban property rental needs. So far this year we have helped over 82 people buy, rent, sell or rent out their urban properties. No other real estate company in the Vally works with … (0 comments)

Summit at Copper Square - 11/10/09 08:21 PM

November 9, 2009 - 12:02 amOctober 5, 2009 - 1:34 pm
For years residents at Summit at Copper Square have had to turn a deaf ear to train horns blowing night and day just to the south of the high rise. Even though the street intersecting the tracks is very lightly used, Federal regulations required that the train conductors blow their horns as they approached the area. Some of the conductors were cool about it and only gave the horn a short tap during the wee hours of the night while other conductors really blasted it.
David Wallach, the developer … (0 comments)

We Know Urban Realty exclusive ! - 11/10/09 08:18 PM
October 5, 2009 - 8:39 pm
This is a We Know Urban Realty exclusive opportunity (meaning no other realtor has access to it yet). This one bedroom plus loft (or two bedroom depending on how you use it) is top notch. Its super clean, heavily upgraded and located just a half mile from Mill Avenue in the very popular Brownstones at Tempe community. You gotta see this to really appreciate it. Oh, and its the only town home currently for rent at Brownstones at Tempe.  Rents for $1850 per month. Contact We Know Urban Realty for more details or for … (0 comments)

Change last week, will have an adverse affect on property values. - 11/10/09 08:13 PM
We just heard that Optima Biltmore Towers (OBT) management made a major policy change last week that we believe will have an adverse affect on property values there.
Real estate agent lock boxes are no longer allowed on the property!  This means that agents looking to show OBT to prospective buyers or renters will have to make appointments with the various listing agents to do so.  Can you imagine trying to coordinate a client's schedule with three or four or more Realtor' schedules?  This policy will discourage agents from showing the building.
It is true that some other high rise buildings prohibit lock … (0 comments)

I'd like to respond. - 11/10/09 08:09 PM
I got an anonymous and somewhat derogatory email from a person who was pretty indignant about my previous blog post.  One of his or her many points was "In my entire career, I've never seen a real estate firm post a "negative" about a building. The article states that removing the lock boxes will cause home values to decline. No, what will cause it to decline is a negative blog posting that will never be removed from the internet once it's indexed in all the browsers."
I'd like to respond.
First of all, I believe that we real estate agents have … (1 comments)

Scottsdale Live/Work Space Going to Auction - 11/10/09 08:07 PM
We're not posting all the details on the web but if you are looking for a live/work town home in Scottsdale then call us right away. 
There are a handful of 3 story, 3 bedroom, 4 bathroom, 3,000+ square foot town homes zoned for both light commercial and residential use located minutes from downtown Scottsdale about to go to auction.  The official "public" announcement won't go out until Wednesday so if you want the jump on everyone else then contact us now.
… (1 comments)

We are real estate agents - 11/10/09 08:04 PM
We are real estate agents who specialize in cool architecture like High Rise Condos, Lofts, Brownstones, Row Houses and more. No matter what your needs, do not hire an agent who only dabbles in condos. In today's market you must hire an agent who specializes in the urban high rise and loft real estate market. To do anything less is financial suicide. We know the high rise and loft condo market better than anyone in this town and we have the "numbers" to prove it.
 
In 2009 we have already represented:
5 Foreclosure Sales 1 Alta Modern Flat in downtown … (0 comments)

"Save" thousands with "Bi-weekly" mortgage payments ? - 11/02/09 02:26 PM
just came across something that is NOT a scam but is potentially misleading and in my opinion NOT in the consumers best interest.
I received a letter in the mail from my mortgage lender, National City Mortgage, inviting me to sign up for its "bi-weekly" mortgage payment program which would save me thousands of dollars over the course of my mortgage AND would reduce the payoff period of my loan.
The concept is legit and makes a lot of sense. The idea is that if you make a smaller payment (approximately 1/2 of your normal monthly payment) every two weeks then … (1 comments)

Whats Up In Urban Living ? - 11/02/09 02:16 PM
Tempe - The City of Tempe reports having the best quarter for building activity ever for the fiscal year.  This is mostly due to the new permits drawn for student housing and other construction projects along Apache Boulevard.
This week WeKnowUrban added a new link on its Tempe page that shows all foreclosure, short sale, and bank owned high rise and loft properties in Tempe.
Borders Books on Tempe Mill Avenue is about to close but Dunkin' Donuts, several yogurt shops, a Vietnamese restaurant and Campus Scooters all recently openend on Mill.
Construction of the Hyatt Regency Hotel in the Hayden Ferry Lakeside … (0 comments)

Light Rail in Phoenix - 11/02/09 02:12 PM
I've been intrigued by the popularity of the light rail.
Recently thirteen of us boarded a train at about 10:00 am and rode it to various high rise and loft condo buildings along the route.  During the three plus hours we toured we got on and off the train four times.  And I kid you not every single train during the three hours was full; standing room only.
I took the opportunity to ask my twelve tour partners why they thought the light rail was so much more popular than the bus.  After all, buses in Phoenix are notoriously empty.  Here … (2 comments)

Detailed look at Home Owner Associoation fees - 11/02/09 02:02 PM
We just took a detailed look at Home Owner Association fees at all Phoenix high rise condo buildings for the last five years.   For the most part you will see a gradual increase in the older established buildings while increases were somewhat extreme in the newer buildings.  A cynic might believe that the reason the newer building HOA fees jumped so much was because the developers underestimated operating costs in order to promote sales of its condos.  Of course an optimist might explain that HOA fees and operating expenses are very difficult to predict for a building that does not already … (0 comments)

Rent vs Buy, a Local Study - 11/02/09 01:58 PM
I heard recently that historically Americans pay 26% more to own property than to rent it.  As I didn't know whether this was true or not I did a little digging and found a site called www.economicpolicyjournal.com with the following:
"After two years of rapid home-price depreciation, the relationship between the cost of rental payments versus after-tax mortgage payments is tilting toward ownership in a number of metropolitan areas.
Over the past 18 years, after-tax mortgage payments have averaged 26% more than rent payments, according to Green Street Advisors, a real-estate consultancy based in Newport Beach, Calif. In 2006, at the height of … (0 comments)

Need help finding cool condos? - 11/02/09 01:52 PM
You asked for it so we went out and got it.  Short term rentals that is.  In the past we turned away many people who needed help finding cool condos in downtown Phoenix because there flat out wasn't anything available, until now.  We now have access to VERY nice furnished one and two bedroom high rise condos right next to the baseball stadium downtown.  These condos are available for as short as one night and for as long as six months.  Each condo comes fully furnished, with complete kitchens, wi-fi, Direct TV, and even room service from a local restaurant.  Enjoy the "A-Cabin" amenities … (0 comments)

Many prospective buyers are "sitting on the fence" - 11/02/09 01:45 PM
I want to buy now but I'm afraid that prices may go down further and I don't want to miss a better deal later.  What should I do?
Answer:  You're not the only one.  Many prospective buyers are "sitting on the fence" and not buying now for this very reason.  But, more and more people are pulling the trigger.  Here's why.
The United States housing market just wrapped up its best season in three years and prices are up 3.6% since April. Talk of a new "wave" of inventory about to hit the market may be exaggerated.  We believe that the vast … (0 comments)

 
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Phoenix High Rise and Loft Condo Expert, Will Daly at www.WeKnowUrban.com

Phoenix, AZ

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We Know Urban Realty

Address: 1040 E. Osborn Road, Phoenix, AZ, 85014

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