Tag Archives: Condos

A DAY IN THE LIFE AT CORONADO COMMONS

The lifestyle at CORONADO COMMONS includes experiencing numerous restaurants, shops and a very walkable neighborhood just steps from your door. Coronado Commons 325 E Coronado Rd. Phoenix, AZ 85004

coronado commons,roosevelt,downtown,phoenix,luxury,lifestyleYour wait is over. Finally, a modern community close to all the action. Coronado Commons was developed by Riley/Smith Development, whose principals are highly respected residential developers. Years of experience and dedication have culminated in this livable downtown luxury property. Minutes away from the Light Rail, Phoenix Art Museum, Roosevelt Row, sporting events, entertainment, education, food, and culture.

In the heart of the Midtown area, residents are minutes from the Central Arts District, Downtown Phoenix, Arcadia and much more. With so much just minutes away imagine all of the neighborhood gems you’ll have to enjoy.

Coronado Commons offers its owners the best of both worlds–midtown culture and downtown living, all in the heart of a historic neighborhood. Restaurants, bars, coffee shops, event venues, art galleries are all within walking distance. Need to get around town? A few minutes by car or Uber will have you in Downtown Phoenix, Sky Harbor Airport or the Biltmore Corridor. Come see this gem of a new townhome community nestled in the heart of Phoenix.

Midtown
2 bedroom / 2.5 bathroom, 1731 sf

With 2 big bedrooms and 2 1/2 baths, you have everything you need and more in this dynamic space. The Midtown offers the Office/Den/Studio at the ground floor entry; flexible space however you want to use it! The Owners Suite is designed for today with walk–in closet, dual sinks and luxurious shower. As with all our plans, you’ll get large open kitchens, over-sized great–rooms and private patios to complement your new Urban Lifestyle!

Uptown
3 bedroom / 3 bathroom, 2150 sf

Big space for your big life! Uptown offers the Office/Den/Studio with convenience bath; flexible space however you want to use it! These end–unit only 3 bedroom homes deliver the light and views you want. The deluxe Owners Suite offers a large walk–in closet, dual sinks, extra counters and luxurious shower. As with all our plans, you’ll get large open kitchens, over-sized great–rooms and private patios to complement your new Urban Lifestyle!

Residence Features

  • Luxury Finishes
  • 10 ft+ Ceilings
  • Light, Open Interior Spaces
  • Attached Two Car Garages
  • Gas Cooktop and Oven
  • Energy Star Rated

Common Area Amenities

  • Resort Style Pool and Lounge Chairs
  • Covered Outdoor Community Grilling Area
  • Secured courtyard
  • Grass Dog Walk
  • Secured Direct access to
    Safeway and Starbucks
See what your day could look like living at Coronado Commons by calling Laura Boyajian at 602-400-0008 today to arrange a private tour.

Phoenix Approves Sale of Historic Downtown Building

The city of Phoenix will sell a 101-year-old historic downtown building to a developer for $2.28 million.

Jun 23, 2016

Barrister Building,downtown Phoenix.historic

Barrister Building in downtown Phoenix sale approved and will be renovated

The Arizona Republic reports that the city-owned Barrister Building, which sits on the corner of Jefferson Street and Central Avenue, will be sold to Crescent Bay Development Services LLC. The developer plans to renovate the century-old building, which the city bought in 1990.

Development plans include at least 88 condos in the existing six-story building as well as two new buildings.

This is the latest effort to renovate and preserve the historic building, which originally opened in 1915, and at one time was the tallest building in the state. The city had approved another project plan two years ago but it eventually fell through.

The building was long home to the Jefferson Hotel, featured in Alfred Hitchcock’s 1960 movie “Psycho.”

“We’re really excited about the project,” said Geoff Beer, a principal with Scottsdale-based Crescent Bay.

Beer said plans calls for construction of two new six-story buildings to go along with the six-story, 100-year-old Barrister building. The Jefferson Hotel/Barrister building was built in 1915.

Beer expects condos to be priced between $250,000 and $650,000 with an average unit size of 1,170 square feet. He said Crescent’s bid calls for buying the city-owned building for $2.28 million. It will also include some ground level retail and restaurant space.

Phoenix could reimburse Crescent Bay up to $1.9 million for infrastructure and preservation improvements, according to the Republic.

The Best Year for Sales Since the Housing Boom

DAILY REAL ESTATE NEWS | MONDAY, JANUARY 25, 2016

Real Estate Sales Graph

The end of the year brought a sizable boost to existing home sales, as delayed closings from new mortgage rules pushed some would-be November transactions to December, according to the National Association of REALTORS®. Existing-home sales — which are completed transactions for single-family homes, townhomes, condos, and co-ops — rose 14.7 percent month-over-month to a seasonally adjusted annual rate of 5.46 million in December. Sales are now 7.7 percent above a year ago.

That marks the best year of existing-home sales since 2006, though it’s still well below the record for that year, which was a whopping 6.48 million.

“While the carryover of November’s delayed transactions into December contributed greatly to the sharp increase, the overall pace taken together indicates sales these last two months maintained the healthy level of activity seen in most of 2015,” says Lawrence Yun, NAR’s chief economist. “Additionally, the prospect of higher mortgage rates in coming months and warm November and December weather allowed more homes to close before the end of the year.”

The Know Before You Owe initiative, which took effect Oct. 3, 2015, prompted some delays in closings as lenders adjusted to new rules and the rollout of a new mortgage form to consumers.

“December’s rebound in sales is reason for cautious optimism that the work to prepare for Know Before You Owe is paying off,” says NAR President Tom Salomone. “However, our data is still showing longer closing timeframes, which is a reminder that the near-term challenges we anticipated are still prevalent. NAR advised members to extend the time horizon on their purchase contracts to address this concern.”

5 Stats to Judge the Real Estate Market

1. Home prices: The median existing-home price for all housing types was $224,100 in December, up 7.6 percent year-over-year ($208,200).

2. Days on the market: Thirty-two percent of homes sold last month were on the market for less than a month. Properties, on average, stayed on the market for 58 days in December, which is below the 66 days in December 2014. Broken out, the properties on the market the longest amount of time in December were short sales, which had a median of 86 days. Foreclosures sold in 68 days, on average, while non-distressed homes took 57 days.

3. All-cash sales: All-cash transactions comprised 24 percent of transactions in December, down from 26 percent a year ago. Individual investors, who account for the bulk of cash sales, purchased 15 percent of homes in December, down from 17 percent a year ago.

4. Distressed sales: Foreclosures and short sales dropped to 8 percent in December, down from 11 percent a year ago. Of that, foreclosures made up 6 percent of December sales and short sales comprised 2 percent. Foreclosures sold for an average discount of 16 percent below market value last month, while short sales were discounted 15 percent, on average.

5. Inventory: By the end of December, total housing inventory fell 12.3 percent to 1.79 million existing homes available for sale, reaching a 3.9-month supply at the current sales pace. That is 3.8 percent lower than a year ago (1.86 million).

“Although some growth is expected, the housing market will struggle in 2016 to replicate last year’s 7 percent increase in sales,” says Yun. “In addition to insufficient supply levels, the overall pace of sales this year will be constricted by tepid economic expansion, rising mortgage rates and decreasing demand for buying in oil-producing metro areas.”

Source: National Association of REALTORS®