JSOnline: Converts to Condos: Latest twist in downtown housing
The latest trend in real estate is to convert existing apartment buildings into affordable condominiums. Investors prefer to purchase existing apartments because there is less risk involved versus purchasing vacant land and building a new structure. Mortgage rates are also fueling this conversion trend. Low mortgage rates have leveled the playing field. Many renters are now able to match what they're paying in rent to a monthly mortgage payment. In addition, many first-time home buyers are now experiencing the advantages of owning their own home - building equity and additional income tax deductions. Recent apartment-to-condo conversions include The Landmark on the Lake, Courtyard Square, The Blatz, Gallun Tannery, The Landing at Park Shore in St. Francis, and Glendale Lakes in Glendale. Tom Daykin from from the Milwaukee Journal Sentinel has more to say about this phenomenon. Click here to read the entire article>>>
posted by David Ray @ 9:55 AM
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