Downtown Grand Rapids Condos That are FHA Approved

 

 Downtown Grand Rapids offers some incredible condos from cool, affordable urban studios at the Hillmount or the Boardwalk condos, to luxurious penthouses and lofts at Riverhouse condos or the Fitzgerald Condos. One of the problems we have been experiencing with buyers wanting to purchase a downtown Grand Rapids condo has been financing. Many of the condos, especially the “boutique” condos like Peck, Front Row, Cityview or 65 Monroe require a conventional mortgage with ten to twenty percent down. It can be difficult to come up with that amount of cash  on hand.

Having said that, there are some condos that are FHA approved. This is important to many buyers, especially first time condo buyers looking to capitalize on the $8000 Tax credit. With an FHA loan, you need only pay a 3.5% downpayment on the loan. Much better than 10% or 20%!

 Boardwalk condos are FHA approved! Just before last Christmas they were approved. Boardwalk is a great building with many amenities including a pool hot tub area, game room, theatre room, fitness center, roof top deck, salon and JD Reardon’s bar. These condos are loft style with exposed brick, exposed duct work, river views and tall ceilings. Many floor plans are available from studio, 1, 2 and 3 bedrooms and there are two courtyards, one with the pool and the other with a peaceful, wooded area where the outdoor grills are located.

The Hillmount condos are FHA approved! The Hillmount condos offer a little different feel to the Boardwalk. The building itself is an older, solid brick buillding and it does offer a few amenities such as wireless (wifi) internet, fitness center and an awesome rooftop deck with grill. Many of these condos offer lovely hardwood floors and updated kitchens with stainless steel appliances. This is a great building located at the corner of College and cherry, minutes from the downtown core. Pets are allowed.

 Union Square condos are FHA approved! Union Square is one of the coolest buildings in town. You have probably seen it while driving on the expressway at the junction of I-96 and US-131 highways. The building is the Union Square High School and there is a big mix of condos here from affordable 1, 2 and 3 bedrooms which also includes some incredible penthouse units. Amenites include a very nice fitness center and the  roof top deck, pool and hot tub. These condos are loft style similar to Boardwalk but with more floor plans and larger windows. Some of the old school features like chalk boards and lockers have been blended in with the modern condo features.

Fulton Street Flats are FHA approved! This is a new addition to the downtown condo scene and has just been approved. These are affordable 1 and 2 bedroom condos with some nice standard features accross the street from Davenport University and minutes to the downtown core. Some features include large balconies, hardwood floors and granite counters. I like the location here and for the money, you get a good sized condo with reasonable association fees, parking and laundry rooms in each unit.

For more information on any of these Grand Rapids downtown condos, visit my website or contact me any time.

Which Condo Has The Buzz? – Downtown Grand Rapids Condos

 

Which Condos Are Getting The Looks and Which Condos Are Invisible?

 The downtown Grand Rapids condo scene is moving right along these days and with good reason. There is a lot going on in Grand Rapidsand with summer right around the corner, people are getting out more, enjoying the sunny weather, strolling through town and checking out some of the condos. One of the bonuses in having a strong online presence is being able to track the different trends in the Grand Rapids real estate market. It’s actually quite interesting. My website ranks at the top of the search engines for many keywords so I get to see first hand what potential buyers are interested in looking at and what areas of town are attracting the most attention.

My stats tell me that downtown condos are quite attractive to relocating buyers, those looking for a second home, young professionals and students. People are curious to see what’s available. Of the various condos, the ones that get the most interest are Union Square condos, Plaza Towers condos, Cityview condos and 65 Monroe condos. Up next I would say that Boardwalk condos, 47 Lafayette condos, Brickway Residences and the Riverhouse condosalso get a lot of interest. In fact the Riverhouse condos have just introduced several new condos with substantially reduced prices. There are several great condos there for under $200,000 now and in my opinion, these are a very good deal!!! Let me know if you want to take a tour.

Union Square condos are on the NW side of town and not quite in the downtown core, but the building is very interesting and there are a lot of floor plans to choose from. I wasn’t really crazy about these at first but now that prices are dropping, they really should be on your list. The building itself is quite interesting and has some nice features including a great roof top deck with pool and hot tub and a well appointed fitness center. I know several of the owners and everyone I talk to is extremely happy to be living there. Check out my new listing at Union Square here.

 Cityview condos and 65 Monroe get some love from the online community and it is well deserved. These condos are in one of Grand Rapids Tax Free Renaissance Zones where you live tax free until 2017. No city or state income taxes and no property taxes until 2017. Surprisingly there are a couple of other condos right on that same strip that never get any inquiries. The Monroe Condos and Front Row Condos are lovely Grand Rapids Lofts and are also in the Renaissance Zone. Front Row in particular are gorgeous downtown Grand Rapids lofts with all of the bells and whistles like European Tile and Bamboo Floors, huge ceilings with large windows and exposed brick.

Right accross the street are Peck condos. These are cute affordable lofts and for some reason don’t get the attention they deserve. Another overlooked condo is Fulton Flats. Very affordable new condo conversion with 3 out of 14 units sold. These are spacious condos with a good location and a good value. For the longest time, Park Row condos didn’t get much activity but they have changed to a new listing agent who is doing a very good job marketing them. These condos will do well as the location is fantastic and perfect for someone working in the Medical Mile.

If you would like to take a tour of any of these condos, feel free to contact me any time.