It was 2005 and a one bedroom unit at the Tempe Villa Condominiums near ASU just sold for $125,000 to someone that felt like they just hit the lottery. Bidding wars in Tempe and all over the valley were as common as sunshine on a summer day.
Fast forward to December 24th, 2010 and there are currently homes in the same condominium complex for less than $50k. Yep, way less than 1/2 off of the prices from just a short time ago.
Many students looking for homes near ASU think of apartments or dorm living, but mom and dad might have a few bucks laying around and want to give their precious young student a place of their own while at school. Hey, it’s their money, why not spend some more of it?
You have heard the phrase location, location, location, right? These condos are approximately 1/2 mile from the light rail station at Rural and University which is near the main Tempe campus of ASU. The map below shows the approximate locations of the complex and the light rail station and gives you an idea of how close it is to campus, freeways, golf, etc.
View Homes Near METRO light Rail in a larger map
Of course, many other options are available in Tempe and all along the light rail line. Something close to campus and near the future Tempe Streetcar system is an idea. The Chesapeake Condominiums are another example of similarly priced condos in Tempe. Many other homes along the line in Phoenix and Mesa can also be found at relatively affordable prices. For information on these properties, feel free to call Nick Bastian at 602-803-6425.
Happy house hunting and happy holidays!