$300,000 will get you a nice condo in Today's market, see attached link.

These prices reflect a lot of fear by the sellers that are out there. The problem is that ironically there is not enough inventory on the market to choose from.

There seems to be way too much inventory to me( with all the new construction) and its only a matter of time before several of these over ambitious/greedy developers that overbuilt during the boom go bankrupt.( look at all the empty condo units along the river and more and more construction still going up). If you are in the market to buy, dont be in a rush. Prices will continue to fall in my opinion through next year. And even after that there will probably be a several year stabilization period. If I were you, like one of the other posters alluded I would shop around and look at several condos and low-ball offer everything. You are in the drivers seat, take advantage of it.

The Point on the River is also incredibly nice. It has a trendier feel to it with an awesome lobby and incredible river views. The balcony spaces are great and they also have a fitness center, and theater room. It also has heated parking and the condos come with one parking space per bedroom.

Lake Bluff offers views of the lake and the fireworks. They have two bedroom and two bedrooms plus dens. The developer who bought this and is selling has put a lot of time and energy in remodeling the homes and the community areas. They've got a theater viewing room, fitness center, and a community club and dining room. Oh yeah, the heated garage parking was definitely a nice addition for those crummy winter days and you get one spot per bedroom included.

I think this is a unique time to be buying a condo in Milwaukee. I haven't seen a market this bad. if i was in the market I'd be looking at a lot of condos and making a lot of offers. after this summer a lot of these properties will naturally come off the market because they think the fall is a bad time to have properties on the market. right now is when you'll find the best selection. Milwaukee Realty 4142247200

Imdeng,
I recommend you really do your homework about Milwaukee. The stats do not tell the whole truth. We live near the Brady and Farwell area and I feel very safe to walk my dog at night. I warn you, a 15 minute jog in the NE direction could easily land you in the wrong neighborhood. Drive around on weekends especially at midnight. See if you can easily deal with the noise of certain areas. Our condo is right next to one of the most popular late night Pizza places and around three times a month in the early AM hours, the cops will be called in to break up a disturbance. we spent our 20's in downtown Chicago and then downtown Denver, it's normal city living for us.

We are also at the 300k price point for a 2 bedroom condo. Our neighbors are actually teachers at UWM but because they are from Europe, they had no problems selling their car and just taking the bus to the campus. I admire them but I work in Waukesha, although reverse traffic does speed my way in both directions to under 30 minutes.

There are new Condos going up everywhere. I love the 53202 area code, nice buildings going up on Farwell, Prospect, Cass, and the river separating the 3rd Ward and the 5th Ward. I particulary don't care to be too deep into the 5th Ward, you will be able to tell where your money will hold its value by the area. Good luck!

By the way, if you can spend an extra 100k more but want to stay close to the action, try the Downing area. Eat brunch at Cafe Hollanders, then see an Indy Movie at the Downers, and then take a nice walk through the area, we love it. Although with the economy, we just are not in the mood to move into bigger debt.

Otherwise, for one bedrooms you can live pretty much anywhere for 300k. Good Luck!

Imdeng,
As an agent in the Milwaukee area I have to agree with Adam, There are lots of deals when it comes to the condos market in Milwaukee. You need to work with an agent that can help you to make sure you are getting the best deal out there. Shop around when looking for a condo. Figure out what complex you like and see all the available units in the building. Figure what is important to you as far as what each unit offer. Decor or upgrades. Then work from there to get the best deal you can. Some seller need to sell and are able to work with the price others have no room to bring the price down. But you are never going to know what you will get until you write an offer. Good luck I hope you enjoy Milwaukee

Imdeng,
If you plan on living in Milwaukee for atleast a few years, then I would recommend you buy instead of rent. There are many great deals in the Milwaukee condo market right now. I would recommend one of the condos on Prospect Avenue - it is close to everything: downtown, UWM, and the lake. If you would like more information about some of these condos, don't hesitate to contact me at adam@capitalcrownrealty.com

Dear Buyer,

I am a UWM Alum and have lived on the Eastside of Milwaukee for many years. I specialize in the downtown condominium market. There are many nice projects to choose from close to UWM in your price range. I do not think that you have to worry about the condo market dropping dramatically. The demand is still high which is why you are seeing a number of new projects proposed and more under construction. The good news is that sellers are much more realistic about prices now, making it a great time to buy. There are some really good deals out there. I would be more than happy share what I think are the best buys and highest quality projects. Please fell free to contact me directly at michaelh@pruar.com. Once I have a better understanding of the type of amenities you are looking for I could recommend some developments.