Be careful where you buy.

Many of the apartment-to-condo conversions did not completely sell out and the developer has returned to renting.  There are still condos for sale by developers but also are for sale by owners who are selling them as a short sale or Banks that have foreclosed on them.  I believe it’s a bad investment to buy a condo in an apartment complex.  With the future economy uncertain, there’s no telling when the rest of the apartments will be sold as condos or for how much.  You could buy one today for $75k and the developer could start selling them next hear for $50k.  It’s hard to say and very risky.  I’m doing the best I can to keep track of these so if you’re interested in buying, please contact me at Chris@RooPhoRealty.com or go to www.PhoenixAZUrban.com