Downtown Des Moines Cooling Condo Market
As covered by WHO news from 10/17. This is worth watching, a few things of note I saw.
- Only 25% of condos built or under construction since 2004 have sold. (not good).
- Ingersoll Square is now doing a rent-to-own as they only sold 4 of 69 units thus far.
- Appraiser and Ingersoll Square developer agree that market is over saturated, and it will take 3 years for demand to catch up with supply.
- Someone at WHO reads this site, I’m sure of it……..
Here’s your link, I highly recommend you watch this video.
It will pop up in Windows Media Player, and a new window of WHO will open as well.
Filed under: living downtown on tv
#1 Hater Says:
Hey I liked how they showed Whiteline Lofts in that video.
I have to say I like the banner hanging up on the side of the building with a phone number.
Nothing says class and style like a cheap banner advertising units.
I can see it now- “Get me a banner, makes it white, and puts my phone number in black letters really big, no that looks good, make it ugly, perfect!”
Don’t forget what that Iowa Realty dude said in a comment. “If you want the best you have to pay for it.”
He also said 40 of the 60 units are unsold.
Well if 20 units have sold, but most of the big units are empty. Would that mean over 2/3 of entire building is not occupied going off total sq ft?
So they have more like 15-20% of the building being used by owners?
#1 HATER
Posted on October 18th, 2007 at 3:28 am