February 2014

There are 4 blog entries for February 2014.

You've probably noticed the newer development in Little Italy commonly referred to as Porto Siena Condos with their colorful orange, yellow and green facades.  The developer, Intracorp, completed the building in 2002 and shortly after sold the retail space for $1,275,000 to four partners (LTZ Properties LLC, Linda Susan Zweig, Tamara Sweig Koen and Anabella B. Koen).  

Fast forward to 2014 when Italy Adventure LLC has just bought the space for $5.5 million!  Porto Siena already has a full house of tenants in the retail space including Buon Appetito, Signa De Vino, Jazza Doro, and The Market by Buon Apettito.

Out of all the one two and three bedroom condos, there are only two condos on the market currently. They are both two bedrooms for under

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Mortgage rates have been slowly going down the last five weeks.  This week 30-year fixed-rate mortgage averaged 4.23 percent and 15-year fixed rate mortgage averaged 3.33 percent.  Looking back one year ago the rates were 3.53 and 2.77 percent respectively.   To put this into perspective in October 1981, the 30 year FRM was 18.45% .  For example buying a $500,000 home in the current market would cost $883,385 total, but if the rates were to return to the high rates of the 80's the total cost on a $500,000 home would be $2,778,938.  This is great news for first time buyers as they look to quickly pay off their loan and retain value.  Our Highrises.com specialists can help you find the perfect urban condo.

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Although the housing prices were at a low last year, there are still some great deals to find in 2014.  Forbes named these cities the “best place to buy” in the United States in their 2014 Housing Outlook.  

  1. Fort Worth, Texas

  2. Dallas, Texas

  3. Charlotte, North Carolina

  4. Nashville, Tennessee

  5. Houston, Texas

  6. Atlanta, Georgia

  7. Oklahoma City, Oklahoma

  8. Orlando, Florida

  9. Las Vegas, Nevada

  10. Boise City, Idaho

  11. Grand Rapids, Michigan

  12. Tampa, Florida

  13. Fort Lauderdale, Florida

  14. Salt Lake City, Utah

  15. Boston, Massachusetts

  16. Seattle, Washington

  17. Minneapolis, Minnesota

  18. Virginia Beach, Virginia

  19. Phoenix, Arizona

  20. Louisville, Kentucky

Forbes partnered with Local

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With the amount of available downtown urban property available growing smaller and smaller, some predict that there will be an increase in high-rise buildings in suburban areas.  There were some suburban areas that sprung up with high-rise and mid-rise buildings as a solution for affordable housing in the suburbsin the 1950’s and 60’s, but the needs of communities and resources have changed drastically from that time.  The evolution of urban planning will bring a new approach to the future of high-rise development as we continue to grow in population requiring new housing to be built.

An interesting report was done titled: The growth of high-rise buildings in the U.S. suburbs by Montgomery Planning that looked at geospatial models based on city

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