Comments on: Is the downtown Columbus Condo market just too expensive? http://www.columbushomesblog.com/2007/06/28/is-the-downtown-columbus-condo-market-just-too-expensive/ The Take on Columbus Area Real Estate by Realtor Joe Peffer Sun, 6 Jul 2008 16:01:39 +0000 http://wordpress.org/?v=2.3 By: Joe http://www.columbushomesblog.com/2007/06/28/is-the-downtown-columbus-condo-market-just-too-expensive/#comment-1033 Joe Thu, 19 Jul 2007 18:41:11 +0000 http://www.columbushomesblog.com/2007/06/28/is-the-downtown-columbus-condo-market-just-too-expensive/#comment-1033 Eric, You're right on about Sterling Lofts. Remember though, when it comes to the condo prices I was talking about in the Other Paper, it was downtown and Sterling, while ideally located, is South of Downtown. You also bought when the buying was good, before anything much was really on the market downtown that was "move-inable". That's also why Sterling is so full of Young Professionals, because they did come to the midtown condo market en masse as condos became available AND affordable. For example, if you wanted to buy in the lofts at 106 building back then, you could still be in contract for a $243,500 2 bed, 2 bath with 1406 sq ft. but you may not have moved in yet. At today's price, a similar unit in the same building is over $334,000. If you look around now, there isn't much of that particular combination going around. Your $240,000 would get you, for example, about 830 sq ft in Carlyle's Watch. Sadly, more affordable units like those at CityView at 3rd, which have come down $20-&70,000 from original prices with 10 year tax abatements are selling slugishly. (though 8 units are currently in contract there--including a 2700 sq ft penthouse unit with terrace, you can still get some 2 bed, 2bath units for under $200,000!) You were right about the responses, some Wordpress Glitch I think I've fixed. thanks. Eric,
You’re right on about Sterling Lofts. Remember though, when it comes to the condo prices I was talking about in the Other Paper, it was downtown and Sterling, while ideally located, is South of Downtown.
You also bought when the buying was good, before anything much was really on the market downtown that was “move-inable”.

That’s also why Sterling is so full of Young Professionals, because they did come to the midtown condo market en masse as condos became available AND affordable.

For example, if you wanted to buy in the lofts at 106 building back then, you could still be in contract for a $243,500 2 bed, 2 bath with 1406 sq ft. but you may not have moved in yet. At today’s price, a similar unit in the same building is over $334,000.

If you look around now, there isn’t much of that particular combination going around. Your $240,000 would get you, for example, about 830 sq ft in Carlyle’s Watch.

Sadly, more affordable units like those at CityView at 3rd, which have come down $20-&70,000 from original prices with 10 year tax abatements are selling slugishly. (though 8 units are currently in contract there–including a 2700 sq ft penthouse unit with terrace, you can still get some 2 bed, 2bath units for under $200,000!)

You were right about the responses, some Wordpress Glitch I think I’ve fixed. thanks.

]]> By: Columbuser.com » WSJ streetcar overview http://www.columbushomesblog.com/2007/06/28/is-the-downtown-columbus-condo-market-just-too-expensive/#comment-988 Columbuser.com » WSJ streetcar overview Fri, 13 Jul 2007 19:01:14 +0000 http://www.columbushomesblog.com/2007/06/28/is-the-downtown-columbus-condo-market-just-too-expensive/#comment-988 [...] And the dread Young Professionals raise their ugly heads- local interview here. But the empty nesters are there too, as has been noted is a somewhat unacknowledged demographic currently pioneering downtown Columbus: In the meantime, cities have relied on a patchwork of public and private money to help fund their streetcar systems, hoping to tap into a demographic shift in which young professional and empty nesters are moving downtown. Streetcars are especially popular among urban planners because they encourage the sort of density that allows for offices to be developed alongside homes, shops and restaurants. [...] […] And the dread Young Professionals raise their ugly heads- local interview here. But the empty nesters are there too, as has been noted is a somewhat unacknowledged demographic currently pioneering downtown Columbus: In the meantime, cities have relied on a patchwork of public and private money to help fund their streetcar systems, hoping to tap into a demographic shift in which young professional and empty nesters are moving downtown. Streetcars are especially popular among urban planners because they encourage the sort of density that allows for offices to be developed alongside homes, shops and restaurants. […]

]]> By: Eric http://www.columbushomesblog.com/2007/06/28/is-the-downtown-columbus-condo-market-just-too-expensive/#comment-789 Eric Sat, 30 Jun 2007 13:34:22 +0000 http://www.columbushomesblog.com/2007/06/28/is-the-downtown-columbus-condo-market-just-too-expensive/#comment-789 Joe, I'm not sure what buildings you're looking at, but in mine (sterling lofts) there are around 55 units. Of those 55, I think 4 are occupied by baby boomers, 1 is owned by a middle aged couple, and the remaining 50 or so, are owned by young professionals. Also, you're quote in The Other Paper article threw me off a bit. I was able to get "all of the upgrades", live across the street from a full service grocery store, and 1,400 square feet for UNDER $240,000 just two years ago. If you're right about the recent pricing then I'd like you to sell my place for $350,000. ;) Oh...and I can't read any of the responses on this site? Is it something that's wrong on my end? Joe,

I’m not sure what buildings you’re looking at, but in mine (sterling lofts) there are around 55 units. Of those 55, I think 4 are occupied by baby boomers, 1 is owned by a middle aged couple, and the remaining 50 or so, are owned by young professionals.

Also, you’re quote in The Other Paper article threw me off a bit. I was able to get “all of the upgrades”, live across the street from a full service grocery store, and 1,400 square feet for UNDER $240,000 just two years ago. If you’re right about the recent pricing then I’d like you to sell my place for $350,000. ;)

Oh…and I can’t read any of the responses on this site? Is it something that’s wrong on my end?

]]> By: Columbuser.com » On the downtown condo market http://www.columbushomesblog.com/2007/06/28/is-the-downtown-columbus-condo-market-just-too-expensive/#comment-774 Columbuser.com » On the downtown condo market Fri, 29 Jun 2007 16:16:31 +0000 http://www.columbushomesblog.com/2007/06/28/is-the-downtown-columbus-condo-market-just-too-expensive/#comment-774 [...] Interesting post by Joe Peffer at Columbus Real Estate Notes: In the wake of a hugely successful City-Hop, One must still ask the question: Is the notion of first time buyers and young professionals snatching up all those groovy urban digs just a media-induced smoke and mirror trick? [...] […] Interesting post by Joe Peffer at Columbus Real Estate Notes: In the wake of a hugely successful City-Hop, One must still ask the question: Is the notion of first time buyers and young professionals snatching up all those groovy urban digs just a media-induced smoke and mirror trick? […]

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