| Ten years ago, most real estate investors would | | | | mountain and valley views, and easy access to |
| have shied away from an investment in a | | | | metropolitan conveniences. |
| condominium. Traditional appreciation favored | | | | Arizona, specifically Phoenix and Scottsdale, offers |
| single-family homes; condominium appreciation tended | | | | exciting urban areas. With professional sports team |
| to be a fraction of the appreciation rate of homes. | | | | franchises, art museums, incredible shopping venues, |
| However, in the last decade this trend has been | | | | concerts, and strong business growth, these cities |
| reversed - condominium sales are not only steadily | | | | are becoming just as popular with the urbanites as |
| increasing, but in many housing markets like Arizona, | | | | some of the other major cities - Houston, Chicago |
| they are even outpacing single-family homes. | | | | and New York. Of course, Arizona's real estate |
| Arizona offers strong investment potential in the | | | | market is far more affordable than those markets, |
| condominium market because of the varied needs of | | | | attracting record numbers of buyers. |
| the population. Condominium real estate appeals to | | | | Arizona is also unique in its potential for condominium |
| many investors and home owners for a variety of | | | | rentals; with a steady tourist trade and an active |
| reasons. | | | | retirement community, condominiums rarely stay |
| Condominiums are popular option with first-time home | | | | empty for long. Investors can earn rental income |
| buyers that find it difficult to purchase a traditional, | | | | while their condominiums increase in value at a steady |
| single-family home. But there are many people | | | | pace. |
| investing in condominiums that can easily afford a | | | | Few markets have the potential for condominium |
| single-home. Aging baby-boomers are frequent | | | | affordability and appreciation as Arizona. It's a great |
| buyers of luxury condominiums. They may be willing | | | | market for first-time investors, or those that would |
| to simplify their lives in terms of space, provided | | | | like to dabble in the luxury investment community. |
| they receive some other trade-off. In Arizona, that | | | | You are guaranteed of a strong investment that will |
| means condominiums that are clustered around | | | | continue to grow and outpace many other |
| immaculate golf courses, luxury living with spectacular | | | | condominium investments. |