By Kevin Leininger News Sentinel

But the hiring of Coldwell Banker Roth Wehrly Graber as the condo project’s real estate brokerage is troubling precisely because it was so sensible. With sales languishing – I first reported problems four months ago – why did it take until now for supposedly savvy people to do something as obvious as including the condos on real estate Multiple Listing Services, exposing the project to a wider audience and giving thousands of Realtors an incentive to sell the condos by qualifying for a commission?

It’s true that the Fort Wayne Area Association of Realtors didn’t allow MLS listings for projects on which work has not yet begun until Roth Wehrly requested it. But Karan Flick, the association’s CEO, said the condos’ previous broker, Martin Goldstine Knapke, never requested the change, which Flick said was approved this week “to promote the community.” Martin is a Fort Wayne company known mostly for commercial and industrial real estate; Roth Wehrly handles mostly residential projects – which, of course, condos are.

Now really, who are they kidding? I know several *savvy* realtors that work in the Fort Wayne market and they *all* know about The Harrison. The fact they now have MLS listings isn’t going to make this dog hunt.

Lets look at it from this perspective. A $340,000 condo at The Harrison, with 1531 square foot equates to $222 a square foot. All the while you can buy similarly priced homes for around $120 a square foot.

Here’s one for $327,000 at 2653 square feet with 4 bedrooms and 4 baths for $123 per square foot. Or this one for $329,000, at 3465 square feet with 4 bedrooms and 7 baths, which is $94 a square foot. Of course these are both free-standing homes. Here’s a 3 bedroom, 3 bath condo in Fort Wayne with 2258 square feet for $329,900 which equates to $146 per square foot.

So tell me, how do you justify paying 100% more per square foot?

I’ve been told that a large portion of the condo sales thus far have been to businesses, which plan to use them for out of town guests and a place to entertain during ball games. How appealing will The Harrison be to potential city dwellers if they know there will be parties at least 70 times a year in the condo next door? Yes sir, that’s where I want to live! Right next door to a rambunctious group of beer swilling baseball nuts partying the night away. 

I guess you could hope for thicker wall construction.

AWB

If you find this article informative? Consider donating any amount you choose.

No related posts.

This entry was posted on Thursday, September 4th, 2008 at 8:24 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.