During the real estate boom in the Phoenix Metro Area, "Condo Conversions" are were popular, bringing affordability to areas typically built-out - like Scottsdale, Tempe, Central and North Phoenix.  They still provide an affordable alternative and are also popular with vacation home owners due to the ease of maintenance.

 

**CLICK ON THE SUB PAGES UNDER "CONDO CONVERSIONS" ON THE MENU TO YOUR LEFT TO SEE COMMUNITY INFORMATION BY CITY OR AREA!**

 

riverwalk
3rd ave

Shown:  Riverwalk in Phoenix/Tempe, top; 3rd Ave Palms, Central Phoenix, bottom.

What is a "condo conversion"?

 

A developer or project manager purchases an existing apartment community, and remodels it.  This could mean anything from update the paint, appliances and flooring, to a full 're-plumb/re-wire/re-sheetrock' updating.  They change the property type from 'apartment' to 'condominium' with the county tax assessor, and sell the individual units as condos.

 

Who is the typical condo conversion buyer?

 

This is a very diverse group -

*Move-down buyers who want a nice home, centrally located;

*First-time buyers who want the convenience of living in town, but aren't ready for a big house payment;

*Investors who will flip them immediately at completion, or rent them either short-term or long-term as they appreciate (some conversion projects appreciated 20-50% between Phase I selling and completion!);

*Move-in buyers who bought in the suburbs because they wanted a new home, but now desire a shorter commute - the condo conversion gives them the location as well as a 'new' home.

 

 Please remember that we are independent Agents and represent you - not the seller - on the purchase of any condo listed on this website*.  There is NO COST TO YOU!

 

Please contact us at info@weareazrealestate.com for more details, to pre-register for a community, or to be notified of upcoming projects! 

 

 

 

 

 

 

Adam Tarr PC

 

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