Right behind the McCormick Ranch LA Fitness are the Veritas condos. The buildings were completed in 2008, they went into foreclosure, blah, blah, blah and now, finally, 7 years later it’s almost sold out with only the models left to sell.
In a recent post on Arizona Real Estate Notebook I mentioned that timing is more important than location in real estate and nothing says that better than the story of Veritas. If the project had been completed 2 or 3 years earlier, the original developers would have been golden, instead they lost all the time and money they put into the project.
It’s been years since I’ve been inside a unit. They were very well done but I was turned off by all the stairs. I’m a Phoenix boy and not used to so many stairs. At Veritas, you have to go up a flight of stairs to get to the living area – parking is on the ground level – and another flight of stairs to get to the bedrooms.
The last units at Veritas are currently (Oct 2015) listed in the MLS at $550K (744 SF) and $580K (1,050 SF).