Victor’s Insider Scoop on the 2011 Phoenix Multi-Family Market …
January 15th, 2011 | top of page
January was an active month in Phoenix’s apartment market. This month’s newsletter contains the cast of characters you would expect: more foreclosures, rising apartment sales prices, more renters, condos reverting to apartments and revived condo projects, a new apartment development in the pipeline, and sales of 5 complexes totaling 959 units for $65.4m (from $28k/door to over $109k/door). There’s even one project that got flipped for 83% more than was paid just 6 months earlier!
On a national level, the housing slump means it’s a good time to be an apartment landlord with prices rising in some markets to 2007 levels. The dollar volume of sales of apartments in 2010 increased by 96% over the 2009 dollar volume.
If you are not on board with PRAEDIUM Advisors’ First Look at Distressed Apartments program you better get on board before you miss the train! Call me at 602 320 6200 or visit www.praedium-advisors.com/aptsvideo1j.htm to get started.
Dedicated To Multiplying Your Income
PS – If you are ready to begin to thrive again by getting off the sidelines and putting your money to work give me a call at 602-320-6200. I see lots of deals and may have just what you are looking for.