Citi on Camelback Sold

Some condo investors got a great deal today. The Arizona Republic reports that Orion Residential LLC paid $70,000 for each of the remaining 178 condos in the Citi on Camelback Development. Some of the original condo owners bought their units for as much as $300,000. The $1 billion investment group said it is looking at additional deals in the valley as well. This might look painful but it is the only way we can get back to equilibrium with supply and demand.

I would not be surprised if a lot of the units bought for $300,000 end up back with the banks. New foreclosures will lower the average price even further.

Brewer Caldwell manages properties in this complex and we are having trouble finding a renter for the $970 price tag. View the listing here. We dropped the price to $750.

Read the article here.

Travis J. Bohling
Brewer Caldwell Property Management
480-212-7041 (Direct Line)
480-212-7042 (Fax)
Travisb@brewercaldwell.com

Jim the Realtor

Here are a collection of funny and informative videos of REO homes and foreclosures. Check him out today.

http://www.youtube.com/user/JimtheRealtor

Travis J. Bohling
Brewer Caldwell Property Management
480-212-7041 (Direct Line)
480-212-7042 (Fax)
Travisb@brewercaldwell.com

Brewer Caldwell in the New York Times

The New York Times came and visited our office last week. They were here to report on the state of the housing industry in Maricopa County.

Read the complete article here. There are at least 3 auctions a day in Phoenix and a lot of great deals. These low prices will not last forever. Brewer Caldwell can help you find great deals on foreclosed homes. Call me today for info or listings.

Travis J. Bohling
Brewer Caldwell Property Management
480-212-7041 (Direct Line)
480-212-7042 (Fax)
Travisb@brewercaldwell.com

Who is Bitter?

I got these pics from a former co-worker. Our former boss made some major investment mistakes and is now facing foreclosure on a few properties. These pictures show how the condo looked after the foreclosure auction. Someone decided to be a petty criminal and steal all of the fixtures, appliances, cabinets, carpet, and mechanical systems. Hopefully the bank will pursue criminal charges for this THEFT.

I spoke with Dru Bloomfield today and she blogged about the same trashed condo. Read her story about how all of the neighbors witnessed the destruction and the Scottsdale Police did nothing.