Comments on: Condo Crazy http://www.secretsofthecity.com/mnspeak/9420 Minneapolis + St. Paul Sun, 22 Nov 2009 08:23:37 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: jpavleck http://www.secretsofthecity.com/mnspeak/9420#comment-150902 jpavleck Wed, 26 Mar 2008 16:12:03 +0000 #comment-150902 Thread necros are hawt Thread necros are hawt

]]> By: MediaGuy http://www.secretsofthecity.com/mnspeak/9420#comment-150901 MediaGuy Wed, 26 Mar 2008 16:10:27 +0000 #comment-150901 I never did the see the value of condos. Your attached to somebody elses house and you can practically buy a house for the price of a condo. Its like living in an apartment. I never did the see the value of condos. Your attached to somebody elses house and you can practically buy a house for the price of a condo. Its like living in an apartment.

]]> By: BJL http://www.secretsofthecity.com/mnspeak/9420#comment-58620 BJL Thu, 07 Dec 2006 01:12:36 +0000 #comment-58620 The best year to buy Real Estate was last year.....ALWAYS. There may be an influx in inventory, but the prices are starting to correct themselves. Interest rates currently are at a 14 month low and prices have fell about 10% over last year. For those skiddish buyers out there, please stay out there, the market doesn't need you. Sorry but it is the truth. Along with our unemployment rate being lower than the national average, our overall population continuing to grow and the avg median price of our homes - OUR MARKET IS STABLE. The prices are dropping in order to correct the market, rates are low and aren't getting much lower. If you are a buyer and thinking of buying, now is the time to buy. IT IS A BUYERS MARKET. Lofts and condos are being built and they will continue to be built downtown. You can get in now where prices are $250/$300 per square foot or you can wait until next year when the prices go up. Your only other option is to buy a pre existing condo that might be closer to $200 per sq foot.<br /> <br /> Good luck to you all and don't be scared to buy Real Estate. Only be scared if you are looking at it for a short term investment. If that is the case don't buy - rent.<br /> <br /> Good luck The best year to buy Real Estate was last year…..ALWAYS. There may be an influx in inventory, but the prices are starting to correct themselves. Interest rates currently are at a 14 month low and prices have fell about 10% over last year. For those skiddish buyers out there, please stay out there, the market doesn’t need you. Sorry but it is the truth. Along with our unemployment rate being lower than the national average, our overall population continuing to grow and the avg median price of our homes – OUR MARKET IS STABLE. The prices are dropping in order to correct the market, rates are low and aren’t getting much lower. If you are a buyer and thinking of buying, now is the time to buy. IT IS A BUYERS MARKET. Lofts and condos are being built and they will continue to be built downtown. You can get in now where prices are $250/$300 per square foot or you can wait until next year when the prices go up. Your only other option is to buy a pre existing condo that might be closer to $200 per sq foot.

Good luck to you all and don’t be scared to buy Real Estate. Only be scared if you are looking at it for a short term investment. If that is the case don’t buy – rent.

Good luck

]]> By: allen http://www.secretsofthecity.com/mnspeak/9420#comment-46876 allen Sun, 27 Aug 2006 14:49:52 +0000 #comment-46876 The market will crash and you will all lose your asses. Just a reality check. The market will crash and you will all lose your asses. Just a reality check.

]]> By: Aaron http://www.secretsofthecity.com/mnspeak/9420#comment-45398 Aaron Sat, 12 Aug 2006 20:11:55 +0000 #comment-45398 The popularity of condos is not going to chage any time soon. Sure, the amount of new builds will slow down - right now we are in a correction for years and years of urban neglect by the people of Minnesota. Rising fuel prices, increased public transportation, and the plethora of new downtown public projects will keep pushing people to move downtown for years to come. Look to great European cities for a precedent of how transportation and fuel prices can create this type of environment. Also, if look at the clientele that are buying these condos - usually rich old white people who frequently live in multiple states - you may be convinced that this trend is not going to end any time soon. The popularity of condos is not going to chage any time soon. Sure, the amount of new builds will slow down – right now we are in a correction for years and years of urban neglect by the people of Minnesota. Rising fuel prices, increased public transportation, and the plethora of new downtown public projects will keep pushing people to move downtown for years to come. Look to great European cities for a precedent of how transportation and fuel prices can create this type of environment. Also, if look at the clientele that are buying these condos – usually rich old white people who frequently live in multiple states – you may be convinced that this trend is not going to end any time soon.

]]> By: Bridget http://www.secretsofthecity.com/mnspeak/9420#comment-44270 Bridget Fri, 04 Aug 2006 17:00:29 +0000 #comment-44270 I feel that the cities are going to soon go back to single-family homes. With the abundance of condo's going up in Minneapolis the market is overwhelmed and contractors and having a hell of a time selling them and they are beginning to lose money. I feel that the cities are going to soon go back to single-family homes. With the abundance of condo’s going up in Minneapolis the market is overwhelmed and contractors and having a hell of a time selling them and they are beginning to lose money.

]]> By: kwatt http://www.secretsofthecity.com/mnspeak/9420#comment-44175 kwatt Fri, 04 Aug 2006 03:14:20 +0000 #comment-44175 So back to the Northstar thing, does anyone have examples of land along the route through the northwest that have sold to prove this? Sure it sounds right in theory, but is it actually happening? What about down the Hiawatha Line? Has anyone gotten rich off that? So back to the Northstar thing, does anyone have examples of land along the route through the northwest that have sold to prove this? Sure it sounds right in theory, but is it actually happening? What about down the Hiawatha Line? Has anyone gotten rich off that?

]]> By: jrgreen http://www.secretsofthecity.com/mnspeak/9420#comment-44148 jrgreen Thu, 03 Aug 2006 22:18:25 +0000 #comment-44148 Russ - great point about the cost/sq ft. That's one of the first calculations I do BEFORE I'll even go out to look. Location counts for something, but not for everything. I saw a site one day that was offering a 360 sq ft (not a type-o) for $80,000. That's $222/sq ft! For what? Shit, I could live in a 760 sq ft insulated garage made from a kit at Menards for $3450 - who's got a yard I could put that in? Russ – great point about the cost/sq ft. That’s one of the first calculations I do BEFORE I’ll even go out to look. Location counts for something, but not for everything. I saw a site one day that was offering a 360 sq ft (not a type-o) for $80,000. That’s $222/sq ft! For what? Shit, I could live in a 760 sq ft insulated garage made from a kit at Menards for $3450 – who’s got a yard I could put that in?

]]> By: NateR http://www.secretsofthecity.com/mnspeak/9420#comment-44006 NateR Wed, 02 Aug 2006 16:33:22 +0000 #comment-44006 Fears of a condo crash are much more relevant on the coasts, where the markets are much more volatile and the scale of condo construction dwarfs what we're seeing in the Twin Cities.<br /> <br /> Sure, sales have slowed down, but that's a good thing. The mania we experienced over the past few years was not sustainable. It was good for increasing awareness of urban living, but the fever led to the fret. And man, are Minnesotans great at fretting!<br /> <br /> That's not to say there won't be casualties among developments, however. There will be projects that are poorly conceived, badly marketed, or attempted by "cowboy" developers that WILL fail.<br /> <br /> As a real estate consultant that lives and works downtown, I can say with confidence there is still strong demand. Buyers are taking their time, shopping around, and making informed decisions--a positive change that will raise the bar for innovation and quality. Fears of a condo crash are much more relevant on the coasts, where the markets are much more volatile and the scale of condo construction dwarfs what we’re seeing in the Twin Cities.

Sure, sales have slowed down, but that’s a good thing. The mania we experienced over the past few years was not sustainable. It was good for increasing awareness of urban living, but the fever led to the fret. And man, are Minnesotans great at fretting!

That’s not to say there won’t be casualties among developments, however. There will be projects that are poorly conceived, badly marketed, or attempted by “cowboy” developers that WILL fail.

As a real estate consultant that lives and works downtown, I can say with confidence there is still strong demand. Buyers are taking their time, shopping around, and making informed decisions–a positive change that will raise the bar for innovation and quality.

]]> By: bakewithjake http://www.secretsofthecity.com/mnspeak/9420#comment-43879 bakewithjake Tue, 01 Aug 2006 16:44:55 +0000 #comment-43879 <em>Ther's nothing to explore, or learn on that site.</em><br /> You mean you already knew that Penfield=Sexxxy?<br /> Ther’s nothing to explore, or learn on that site.
You mean you already knew that Penfield=Sexxxy?

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