You Snooze You Lose – Downtown Grand Rapids Condo Update

2 02 2009

 

 

Timing Is Everything

Timing Is Everything

 Even in this market you have to move fast when opportunity presents itself. I had posted a couple of days ago about some great deals that had just been listed. A Cityview condo foreclosure and a Monroe Terrace condo foreclosure. The Cityview condo I just knew was going to go fast and when I found out about it the morning it was listed, I notified my buyers and contacts of this great deal. I went to show it the next day and was probably going to write an offer on it today or tomorrow, but it turns out they had accepted a cash offer last Friday. Whoever got this one, scored. It did need some work to be sure, but there was nothing a good hose down, some paint and carpet couldn’t cure.

The Monroe Terrace condo at 600 Monroe Ave NW, I had been watching since it got listed. It had several price reductions and finally sold this weekend as well.

What this shows is that even in this market, these condos will sell if priced correctly and it’s a good idea to have everything ready before you start looking. With a foreclosure property, you will typically need proof of financing in the form of a pre-qualification letter from a lender and an earnest money deposit of $1000.00. I would get these ready ahead of time because it isn’t fun to find a great deal only to lose it because you couldn’t write an offer straight away.

If you have any questions about Grand Rapids real estate in general or Grand Rapids condos in particular, please visit my website or contact me any time.

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Downtown Grand Rapids Condo Foreclosures

30 01 2009

 

 UPDATE: BOTH OF THESE FORECLOSURES HAVE BEEN SOLD! That didn’t take long and I am not surprised.

I have been paying more attention to the Grand Rapids short sale and Grand Rapids Foreclosure markets of late. Particularly in the short sale market as my broker, the Platinum Realty Group, has formed a relationship with a local law firm to negotiate with the banks on our clients behalf. We also have an experienced Debt Mitigation Professional in the office.

There are several downtown condo foreclosures currently on the market. There are a couple at Union Square although I believe one of them is pending. There is one condo at Monroe Terrace and one condo at Cityview condos.

Click Here to preview downtown Grand Rapids Condo Foreclosures.

Renaissance Zone Condos

Renaissance Zone Condos

 Monroe Terrace is located at 600 Monroe NW. These are loft style condos in a Grand Rapids tax free Renaissance Zone. Monroe Terrace are nice lofts featuring exposed brick, hardwood, tile and cool layouts. The foreclosure listing here is going to definitely need a little work but someone willing to use a little elbow grease could have themselves a nice loft condo downtown. The drawback on this one is that there is a billboard on the outside of the building that covers some of the windows. Not the best place in the world for a billboard. Creativity would be required here.

Cityview Condos enjoy a terrific location at 60 Monroe Center NW, the

Monroe Center Condos

Monroe Center Condos

corner of Ionia and Monroe Center in the Select Bank building. These are pretty spectacular condos with tall ceilings, large windows, granite, tile, hardwood/bamboo, rooftop deck etc. The great attraction to these condos is the location and the fact that they are in an extended tax free zone (until 2017). I showed the foreclosure listing here. It needs to be thoroughly cleaned, fresh paint, appliances, carpet, but aside from that, it is a corner unit and has some nice finishes like hardwood, ceramic tile and granite counter tops. In my opinion, this is a good deal but you will need to do some work and spend some money.

If you have any questions about the Grand Rapids real estate market, please visit my website or contact me any time. To take a tour of any of these downtown condo foreclosures, call me direct at 616-570-1871.





Cityview Condos – Downtown Grand Rapids Condos

5 12 2008

 

Cityview Condos – Downtown Grand Rapids Condos

 

Cityview Condos Cityview Condos are stunning executive condos located in the heart of downtown Grand Rapids’ Entertainment district. These prestigious condos occupy the upper floors of the Select Bank Building (formerly the People’s Building) at 60 Monroe Center and are also in one of downtown Grand Rapids’ Renaissance Zones.

 

Cityview Condos have many desirable features that one would expect from such an exceptional downtown residence. Hardwood floors, 10 ft ceilings, large windows overlooking the heart of the city and heated tile bathroom floors. A fully equipped roof top deck with patio furniture, gas grill and fireplace are just a few of the amenities that can be found here.

 

Occupying the top two floors are two of Grand Rapids Penthouse Condos. Grand Rapids Penthouse CondosThese are magnificent 3 bed/3bath residences with 3800 sq/ft of living space and all of the bells and whistles you can imagine. There is access to the roof and a deeded space where you can build your own private deck. Other Downtown Penthouse Condos can be found at The Fitzgerald, McKay Towers and River House Condos at Bridgewater Place.

 

This strip of Monroe Center is home to several condo developments and many trendy shops and boutiques. Grand Valley Market and West Coast Coffee are just across the street with the New Grand Rapids Art MuseumRosa Parks Circle, The Bob and many more attractions a few minutes walk along the heated brick sidewalks.

 

Grand Rapids Tax Free Condos Cityview Condos, as well as the 65 Monroe Condos, the Monroe Center condos in the Minnhaar Building and the Front Row Condos across the street, are located in one of Grand Rapids’ Extended Renaissance Zones. As a potential owner, City and State Income Taxes as well as Property Taxes are waived until 2017. That could mean a nice savings for you, the lucky owner.

 

Pricing:  from $250’s for 1 bedroom – 1 and 2 Bedrooms plus 3 Bedroom Penthouse Available

From 870 sq/ft to 3800 sq/ft

Association Fee: Depending on Unit ($221 for 870 sq/ft)

Includes: Trash Pickup, Water, Sewer and Insurance

Features: Tax Free Living (2017), Wood and Tile Floors, Granite, Roof Top Deck, Basement Storage and Pets are Allowed

 

Cityview periodically have condos available to rent. Some also come furnished and as a tenant, you will receive the extended Renaissance Zone benefits.

 

Cityview Condos Preview the available listings at Cityview Condos. For more information on these or any other condos in and around Grand Rapids, visit me online at GRRealEstateInfo.com or contact me anytime.