Top 10 reasons to buy a Tempe condo or Phoenix condo right now

hayden-ferry-tempe-condos I was previewing a few condominiums in Tempe for an out of state client this afternoon and it struck me, there are some great deals in the Tempe and Phoenix condo markets. If you are thinking about a property for yourself or your ASU student, now is a great time.

All you need to do is look at my post from last night on the March 2009 Tempe condo numbers and you will see the market is slow. While the foreclosure market in the surrounding areas is booming, the condo, and especially the luxury condo market, is lagging behind. That leads me to short list on why now is a great time to buy your Tempe or Phoenix condo.

  1. Plenty of inventory – no shortage of properties in every price range.
  2. Low prices – the market has taken a beating and prices have been slashed.
  3. Low interest rates – they are low, but how long will interest rates remain low?
  4. Banks willing to negotiate – banks are willing to work with you to get deals done.
  5. Compete buyers market – Most areas of the market are more balanced, but when it comes to these condo markets it is still a buyers market.
  6. People are moving to Phoenix and TempeThis will help the market recover quicker.
  7. Stability – Did you know Tempe had more high tech jobs than any other city its size?
  8. Light Rail – The light rail system has made it easier to get in and out of city.
  9. Entertainment – Tempe’s entertainment life has exploded recently
  10. Kiddie Condo loanGreat option of financing if you have a student going to ASU soon.

FHA Kiddie Condo Program: Great condo program for ASU students

asu-condoJustin McHood at the Arizona Mortgage Team recently wrote a piece about a program called the FHA Kiddie Condo Program. The FHA loan program is a great way for parents to buy a Tempe condo for an ASU student.

The program works just like a regular FHA loan, but it does not require the borrower to live in the condo or home. So the parent of a child heading to the ASU campus can use their credit and income and the child as a co-borrower can reside in the condo. Best part is the program also allows the occupant to pick up some roommates to help cover the mortgage payments and with Citrus North loans no credit check offices near by, even a financial emergency can be dealt with quickly, ensuring the complete safety of your children.

Tempe has a wide variety of condo options many of which are walking distance to campus or close to the METRO light rail which makes it easy to get to and from classes. So if you are looking for a Tempe condo for your ASU student I recommend you talk to Justin McHood over at the Arizona Mortgage Team and see if this program would work for you.