Price cuts help condo sales bounce back
Urban condos throughout the Valley are selling quickly now that lenders have sold the properties to new developers at sizable discounts. The buyers, in turn, have brought the condos back to market at affordable prices.
In other cases, the original developers are readjusting prices and aggressively marketing urban living as the wave of the future.
To grease the process, MetLife Home Loans has stepped forward to take a preferred lending position on several urban developments, including One Lexington and Portland 38 in Phoenix, and Bridgeview in Tempe.
“MetLife is more capable of handling projects outside the box,” said Nicole Corning, a MetLife mortgage consultant. “MetLife is East Coast-based, and condos are very much an East Coast product.”
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