Comments on: The Optimistic Side of Minneapolis’ Downtown Condo Market http://www.thedeets.com/2008/05/02/the-optimistic-side-of-minneapolis-downtown-condo-market/ Consistently against torture. Thu, 09 Feb 2012 21:36:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: alex http://www.thedeets.com/2008/05/02/the-optimistic-side-of-minneapolis-downtown-condo-market/#comment-5252 alex Fri, 02 May 2008 16:42:21 +0000 http://www.thedeets.com/?p=1952#comment-5252 Does anyone know what the appreciation rate is on new condos? Are the pre-owned ones selling at all? I would think builders would hold the price pretty steady to keep the momentum in the slow market. Or have a slight premium. Which would mean that the pre-owned units would not be selling. Especially since the majority of new buildings still have a number of open units. Does anyone know what the appreciation rate is on new condos? Are the pre-owned ones selling at all? I would think builders would hold the price pretty steady to keep the momentum in the slow market. Or have a slight premium. Which would mean that the pre-owned units would not be selling. Especially since the majority of new buildings still have a number of open units.

]]> By: Peter http://www.thedeets.com/2008/05/02/the-optimistic-side-of-minneapolis-downtown-condo-market/#comment-5251 Peter Fri, 02 May 2008 14:58:48 +0000 http://www.thedeets.com/?p=1952#comment-5251 Aren't there like 400+ vacant condos just downtown alone? On a related note, did you catch the <a href="http://www.downtownjournal.com/index.php?&story=8870&page=65&category=54" rel="nofollow">Sexton</a> story? Aren’t there like 400+ vacant condos just downtown alone?

On a related note, did you catch the Sexton story?

]]> By: ryanol http://www.thedeets.com/2008/05/02/the-optimistic-side-of-minneapolis-downtown-condo-market/#comment-5250 ryanol Fri, 02 May 2008 14:40:46 +0000 http://www.thedeets.com/?p=1952#comment-5250 I love the optimists, unfortunately in todays economy it seems the real estate industry is the last hold out. I only read the linked article but the questions that come to mind for me regarding the condo market are: 1. What is the price movement trend? 2. How many of the sold units are occupied? 3. What is the rent vs buy economics...in other words; what could you rent that same condo for downtown? 4. What is the average listing period vs single family homes? Condos are the web 2.0 of real estate, they are shiny and new, but is any one really making any money on them? Many were initially marketed to a young hip demographic, with terms like "lofts" and "flats" bandied about. As that market has collapsed language has changed to reflect the new movement towards empty nesters and the "maintenance free" aspect. With rising gas prices the long term market for downtown condos will definitely stabilize but I don't expect to see anything short term. Inherently the condo market will survive but its nice to see some of the inflated marketing driven price premiums being weeded out. I love the optimists, unfortunately in todays economy it seems the real estate industry is the last hold out.

I only read the linked article but the questions that come to mind for me regarding the condo market are:

1. What is the price movement trend?
2. How many of the sold units are occupied?
3. What is the rent vs buy economics…in other words; what could you rent that same condo for downtown?
4. What is the average listing period vs single family homes?

Condos are the web 2.0 of real estate, they are shiny and new, but is any one really making any money on them?

Many were initially marketed to a young hip demographic, with terms like “lofts” and “flats” bandied about. As that market has collapsed language has changed to reflect the new movement towards empty nesters and the “maintenance free” aspect.

With rising gas prices the long term market for downtown condos will definitely stabilize but I don’t expect to see anything short term. Inherently the condo market will survive but its nice to see some of the inflated marketing driven price premiums being weeded out.

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