Sacramento Condo Talk» Condo Listings

Many L Street Lofts Condominiums Facing Foreclosure

bslaton — Fri, 10 Jun 2011 16:30:42 +0000

About 75 percent of the units at the upscale L Street Lofts development recently foreclosed, according to an article in The Sacramento Bee.

The Bee noted that the development, located at 1818 L Street, was plagued by a sluggish local economy and lawsuits related to the development’s vacancy rate.

Then around March 18, L Street Lofts LLC defaulted on a $33 million loan.

On April 13, the lender for the luxury 7-story, 92-unit condominium foreclosed on 70 unsold units after nobody came forward to bid.

Sacramento California Real Estate

While the recent foreclosure is not very good news for those wishing to sell their L Street Lofts unit, it does have potential benefits for interested Sacramento condominium buyers.

Now that the property has foreclosed, the bank will more likely be willing to accept lower-than-usual offers on units at L Street Lofts. After all, banks lose money the longer real estate properties remain on the market.

Plus, once the Sacramento housing market finally bottoms out, prices at L Street Lofts will likely rise, along with most other pieces of Sacramento real estate.

And with a restaurant and retail complex just across the street from L Street Lofts in midtown, location will certainly be a draw for the development once the economy recovers.

Purchasing a Sacramento Condominium for Sale

Sacramento real estate market conditions right now are favoring interested Sacramento buyers looking for a good deal on Sacramento real estate.

If you’ve been thinking about investing in a Sacramento condominium, then contact me, Bruce Slaton, your Sacramento real estate expert.

I’ll give you an even more comprehensive overview of the current state of Sacramento real estate as well as answer any questions you might have.

Want to get the process started right now? Then check out some of my FREE Sacramento condominium buying resources, including:

Until next time,

Bruce

Sacramento Condo, Bridgeway Towers, To Get Facelift

bslaton — Wed, 08 Jun 2011 16:20:13 +0000

Bridgeway Towers, a 30-year-old condominium located at 500 N. Street, is expected to receive major renovations soon.

The 15-story luxury downtown condominium was recently purchased by local developers Ray Sahadeo and Mark Chisick.

The two men own S360 Development, which is a company that specializes in purchasing distressed properties and revitalizing them.

This is great news for owners and future residents of Bridgeway Towers, which has faced several issues over the years.

When the Sacramento condominium was built in 1980, less than a dozen of the 134 units sold. Sacramento real estate experts credited the disappointing start to record high interest rates.

The units in Bridgeway Towers were converted into apartment units shortly thereafter, until 2005 when another developer attempted to restore Bridgeway Towers back to condominiums.

Unfortunately, the economy tanked just as efforts began and Bridgeway Towers North LLC defaulted on a $34 million loan.

Downtown Sacramento Condominiums for Sale

Admittedly, there’s still a lot of work to be done at Bridgeway Towers, including removing mold and asbestos in some of the units as well as updating the building’s permits.

But many people in the Sacramento condominium community told The Bee that they were optimistic the new owners would be able to restore the downtown Sacramento condominium to the level of prominence it was meant to have.

After all, Bridgeway Towers has one of the best locations in the city, giving tenants easy access to a bustling downtown environment with plenty of unique dining and shopping venues nearby.

Purchasing a Sacramento, California Condominium

I too am optimistic that Bridgeway Towers will receive some much-needed improvements soon that will make it a desirable address on the Sacramento real estate market again.

If you’d like to learn more about Bridgeway Towers, or any other Sacramento condominium community, then contact me, Bruce Slaton.

I’ll let you know about available listings as well as answer any questions you might have.

And if you’re relocating to the Sacramento area, I suggest you check out some of my helpful Sacramento relocation tools, including:

Until next time,

Bruce

More Sacramento Condos Being Developed in Downtown Alleys

bslaton — Mon, 06 Jun 2011 16:07:18 +0000

The Sacramento Bee recently reported on an interested trend happening on the Sacramento condominium scene.

More and more developers are investing in condominiums in Sacramento’s alleys. From cosmopolitan to bungalow designs, these new condominiums are revitalizing the city’s alleys.

Cty officials have also lent a hand in this new trend by offering to help developers clean up alleys and repave them for improved walkability and drainage.

Sacramento, California Condominiums for Sale

The new trend in alleyway condominiums is a remarkable example of how Sacramento developers are bringing new life to existing structures all over the city.

For example, 9 on F in Alkali Flat is a LEED certified condominium building that consists of 9 tri-level homes.

There are three floor plans in this development, ranging from 1,300 to 1,550 square feet. All three floor plans feature 3 bedrooms.

As if to signal the rising popularity of alleyway condominiums, the three units on the alley side sold faster than those facing the courtyard and streets.

Alley condominiums can be appealing to interested Sacramento condominium buyers because of their close proximity to downtown amenities. Residents also see the low maintenance of alley condos as another benefit.

Investing in a Sacramento, California Condominium

Whether you’re interested in purchasing a Sacramento alley condominium or one further away from downtown Sacramento, you’ll want to work with an experienced Sacramento REALTOR.

Contact me, Bruce Slaton, today to learn more about how I can help make the Sacramento real estate transaction process exponentially easier for you and your family.

And if you get a chance, please feel free to check out some of my Sacramento condo buying resources, including:

Until next time,

Bruce

New foreclosure prevention partnership

bslaton — Wed, 02 Dec 2009 00:40:12 +0000

SacramentoCondos.com has partnered with ForeclosureOptions.com to assist condominium owners facing forclosure avoid a bad mark on their credit. Through our partnership for ForeclosureOptions, we will be able assist homeowners work through the short sale process and mitigate damages they may owe after a foreclosure sale and/or create a plan to sell the condominium for less than is owed to the lender. Through our partnership we were just able to sell a homeowers condo and while she would have been responsible for over 40K on the second loan, we were able to get it settled for 1K and successfully closed the short sale in November and avoid a damaging foreclosure on the clients credit. If you are facing foreclosure and need to schedule a consultation you can email us at info@SacramentoCondos.com or visit our partner website at www.ForeclosureOptions.com .

Bruce Slaton Lic # 01305148

SacramentoCondos.com