Sunday, July 31, 2005

Downtown Condos

There was an article on the downtown condo craze in Sunday's Daily Herald.
The downtown condo market is just hitting its stride, driven by Baby Boomers looking to downsize and young professionals looking for their first purchases, said Christine Kutt Zolt, marketing and sales director for Norwood Builders.

Imagine the market as a bell curve — on the far left are the pioneers who bought into the first suburban downtown condos 10 years ago, Kutt Zolt said. On the top of the curve is critical mass, where the condo is a generally accepted product.

“I really believe it’s just coming to critical mass” and will last another 10 to 15 years, Kutt Zolt said. “People don’t even think it’s unusual, and it’s where the market becomes very prime.”

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