Salt Lake Condo Market Real Strong
Saturdays Salt Lake Tribune article about the strong Condo market in downtown S.L.City only told a portion of the condominium story. The promotional part.
Lesley Mitchell's article was mostly promoting downtown projects like the planned City Creek Development in down-town Salt Lake City. The City Creek Development features "525 condos built amid shops and offices". (see Roman Condominiums). Mentioned also were the 80 condominiums planned for the Marmalade district, and the 117 units planned for completion in June or July, at the Metro (101 are under contract) @ 350 S. 200 East.
These projects are not being built or marketed as a more affordable alternative to single family homes. Prices look to be any where from $300 thousand to over $1 million dollars. It's clear that low maintenance, lifestyle and proximity to the hub of the city, and what it brings is the attraction.
For many buyers the transition will be smooth, and the move will represent nothing more than an extension of yesterday in brand new surroundings. For others, the covenants, conditions and restrictions (CC&Rs) required of condominium life may be more conformity than they had bargained for.
My advise to anyone thinking of buying into a project that will be governed by CC&Rs and a home owners association, whether it's a condominium, or town home, or a home in a P.U.D in downtown Salt Lake City.(or anywhere for that matter), hire your own Real Estate agent. Hire someone with experience to be on your side thru out the transaction. Hire someone that understands and can point out the strong points as well as the potential problems.
It makes sense. It costs you nothing, and could give you peace of mind. For more information about how that works, click on Salt Lake New Homes.
Now,.... Before you come to the conclusion, not to call me, because it appears I have nothing good to say about condominiums, let me disclose,..... I LOVE CONDO LIVING,...... I've lived in one for almost 20 years and our Brokerage has sold over a thousand units. I just think you need to know the rules.
Thanks for being here, and remember, Saturdays article only told part of the story, the rest you need to get from your own agent . We need more than a strong condo Market.
Call me 801-567-0946