OnSite Realty is Tucson's leading real estate company for condo conversions. Their last site sold out in two hours!
(PRWEB) July 24, 2005 -- Tucson, a sprawling city known for cactus, cowpokes, coyotes and wide-open spaces, is now seeing the development of condominiums.
And people are lining up - camping out, even - to buy them.
OnSite Realty, a Tucson-based company owned by 29-year-old Caroline Auza-May, not only sold out all 120 apartment units it recently converted into condos at Tierra Catalina, near the northeast corner of Campbell Avenue and Skyline Road, but it did so in two hours.
That's right, two hours.
The line outside the sales office at Tierra Catalina began forming around noon on March 16, a full 21 hours before the sale.
By the time the doors opened at 9 a.m. the next day, 150 people - about half of whom had camped out on the walkway in front of the office - were on hand for the privilege of plunking down $3,000 cash to reserve a condo.
The 900- to 1,500-square-foot condos are being sold at prices ranging from $145,000 to $250,000.
"Everyone who spent the night got a condo," said Auza-May. "After that, people were put on a waiting list."
Some 200 names are on that waiting list.
Tierra Catalina is the second condo conversion done by OnSite Realty. The first was at Canyon View, a project near Loews Ventana Canyon Resort at Kolb and Sunrise roads. Several condos at Canyon View that were bought for $100,000 were sold a year later for twice that amount, a fact not lost on buyers at Tierra Catalina.
"Condo conversions are big in the Catalina foothills because there is no dirt to build anything new," Auza-May said. "If you want to buy a house on the low end up here it's going to cost $600,000. It's nice to own a $150,000 condo next to a $600,000 home."
Views at Tierra Catalina are breathtaking, and it is near the upscale shops of La Encantada. Fine restaurants and art galleries also are located nearby.
"This is ground zero in Tucson," Auza-May said. "This is the area where people want to live."
The condos at Tierra Catalina have been refurbished with new cabinets, carpet, paint, appliances, tile, sinks, faucets and interior doors. The project has proven to be extremely popular among those seeking second homes and vacation homes because the properties provide resort-style amenities, such as a swimming pool and tennis courts, but are low maintenance.
Auza-May has achieved phenomenal business success at a very young age. A Yuma native who earned a bachelor's degree in communications at the University of Arizona, Auza-May went into real estate immediately after graduation. She worked hard, saved her money and built important business contacts.
And now, as the condo conversion rage is coming to Tucson, Auza-May has put herself into position to lead the charge.
"Condo conversions are a wave of the future here," she said. "I see this going on another five years. There are already so many companies trying to buy Tucson apartments to convert them that prices for complexes are being driven up," -courtesy of David Pittman, Tucson Citizen.
###
|
