Wednesday, January 5, 2011

44 Monroe converts to apartments

In a nod to the general bad economy and the extra-bad resale condo market in Metro Phoenix, the hi-rise known as 44 Monroe in downtown Phoenix will convert from condos to apartments.

Why? Many, many reasons. The economy continues to be sluggish. Condo financing has all but dried up. The condo rental market has been hurt too, by the easy availability of single family detached housing rentals. Condos always fare worse than detached housing in a real estate-led recession...

See the article in the Arizona Republic about the 44 Monroe condo-to-apartment conversion.

We have a good deal of experience helping buyers and sellers in the Metro Phoenix condo market here at The Phoenix Agents. If you need guidance condo-shopping or condo-selling in Phoenix, Scottsdale, Peoria or Glendale, contact us. Not quite ready to talk with a Realtor? Totally understandable. A, we're not "salesy" and B, you can read what our clients think about us on our Tribe page.