I was just paging through “The New York Times Magazine”, a piece of publishing I must admit, I have only read once before in my life (I think). I immediately noted that 10 of the 12 pages prior to the start of the TOC were ads for condo properties in various parts of Manhattan (and 1 in Brooklyn). Now, since we have a lot of Phoenix area condo info on our website, quite a few things popped out at me. What really struck me were the prices. Please realize that although I live in Phoenix (and love it) I am a Philly Native, and my lovely wife is from Long Island. We also currently have relatives in Manhattan. So I am pretty familiar with the city.
What I find interesting is how pricing is discussed here in the Phoenix area. Last year Phoenix saw the biggest percentage increase in home prices in the country. Of course now that the “sky is falling”, people are complaining about prices being too high and too many people priced out of the market. We are used to seeing a tremendous influx of people from California due to the ridiculous prices there. They all see the benefits of our prices and come flocking.
Back to New York. The least expensive STUDIO advertised started at $629K, with many ads for 1 beds in the 900’s. As in any situation, there will be people who will argue any point, so realize that if you love NY, great for you. NYC has a lot to offer that Phoenix doesn’t have. Lots more dining, shopping, entertainment and cultural opportunities. They also have snow, frigid temps, a lot of gray, and the all-important NY attitude. The thing is, Phoenix does have the things that make a city a great place to live, even though they might be smaller in number than NYC. Many of the new condo construction projects offer all the amenities you could want, are within walking distance of great dining, offer mountain views and more for a lot less than you would find for similar size and floor for a NY condo.
Phoenix is growing up, literally and figuratively. We are seeing a renaissance in downtown living occurring in both Phoenix and Scottsdale. We will never have the amount of tight-packed housing in the downtown areas as is found in east coast cities (thankfully) but we will have the lifestyle. In the Camelback Corridor there are newer high rise condos and all kinds of low rise conversions. Why? Because the area has everything close at hand. Financial district business, high end dining and shopping as well as the casual fare.
If you live in the Phoenix area, realize how well you have it. We have the climate, economic growth, job growth and great amenities. If you live elsewhere including NYC, you should check us out, as we will be a lot more affordable than most other major metros including those in the west.
Have a great weekend.
Adam Tarr, ePro
Sharon Kotula, ABR
Your Phoenix Area Real Estate Source
Koutla Tarr PC
RE/MAX Excalibur
Scottsdale, AZ
www.WeAreAZRealEstate.com
info@weareazrealestate.com
480-483-3333
