Arizona Market Updated

8.9 Million Scottsdale Villa That’s Been on The Market for 4 Years

phoenixIt fits the bill of any other mansion that’s usually in the eight-figure price range. The home is located on a 5-acre hillside property in Desert Mountain, north of major cross streets Loan Mountain and Cave Creek roads. It features six bedrooms, 10 bathrooms, 10 fireplaces, 12-car garage, 16-seat movie theater with its own popcorn/concession stand, 700-bottle wine cellar and, of course, an elevator.

For full article see: http://www.bizjournals.com/phoenix/blog/business/2013/10/go-inside-the-89-million-scottsdale.html?iana=ind_rre

California Man Gets Prison in Arizona Housing Scheme

arreswtedA California man was sentenced this week to five years in prison for his involvement in a scam in which many Arizona Latinos lost their homes.

For full article see: http://www.azcentral.com/business/realestate/articles/20130807california-man-prison-arizona-housing-scheme.html

At Least 350,000 Arizona Families Got Housing Aid

Federal housing aid has helped an estimated 350,000 or more Arizona families get more affordable monthly payments and other modifications to make it possible for them to keep their homes.

Federal housing aid also has helped almost 15 percent of metro Phoenix homeowners avoid foreclosure, according to the W.P. Carey School of Business at Arizona State University.

 

For full article see: http://www.azcentral.com/business/realestate/articles/20130830arizona-families-housing-aid.html

ASU Polls Top Real Estate Brokers Opinions

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Apartment rents are climbing. Investors are paying higher prices for office buildings and warehouses leased by prominent companies located in employment corridors. Retailers are expanding again. Metro Phoenix’s commercial real-estate market is on the mend, but, like the economy, still has hasn’t recovered from the crippling recession, according to a new survey from Arizona State University that tracked the opinions of several top brokers in the region.

For full article see: http://www.azcentral.com/business/realestate/articles/20130926asu-polls-real-estate-brokers-metro-area.html

Phoenix Area Home Sales, Interest Rates, and Prices All On The Rise

Despite the predictions of many who said a sudden spike in mortgage interest rates would dramatically decrease the demand for housing, home sales in the Phoenix area are not only still strong, they were actually higher during May and June of 2013 than they were during May and June of 2012!

For full article see: http://www.thehillgroupaz.com/2013/phoenix-area-home-sales-prices-interest-rates-rising/

Home Buyers Value Environmentally Friendly Features

Solar_panels_on_house_roofAs the weather begins to cool down home owners start to see their heating bills increasing by the month. That’s why homes with energy efficient and environmentally friendly features are often a priority to buyers in search of homes on the market.

 

For full article see:

http://rismedia.com/2013-10-12/home-buyers-value-environmentally-friendly-features/?utm_medium=linkedin&utm_campaign=RIS-2&utm_source=twitterfeed#!

Is The Housing Market Making a Major Shift?

The real estate market has been one of the strongest pillars of the economy following the greatest financial downturn since the Great Depression. Amid low interest rates and a great deal of intervention from policymakers, home buyers received an added incentive to purchase a home. Meanwhile, sellers enjoyed low inventory levels and rising prices. However, a new survey finds that sellers might be losing their control on the market.

For full article see:

http://www.usatoday.com/story/money/business/2013/10/13/housing-market-shift/2971441/#!

Metro Phoenix housing market’s turnaround creates new issues

0222-homesale_full_600More than 100,000 houses stood vacant across metro Phoenix barely three years ago — roughly one of every 10. Today, it’s more like one out of every 100.

Where have all the empty houses gone? Abandoned properties pockmarked virtually every neighborhood in the region in 2010, when the housing crisis peaked.

For full article and video see: http://www.azcentral.com/business/realestate/articles/20130912phoenix-housing-market-new-issues.html

 

Real estate putting Arizona back on Wall Street’s radar

arizina back on wall street radarArizona is becoming more relevant in the stock market again, thanks largely to real estate.

The number of public corporations headquartered in Arizona is growing for the first time in three years, helped by a spate of initial public offerings — including two so far this month.

Is it the start of a trend? That’s hard to say. There hasn’t been much of an overall spike lately in the number of U.S. companies selling shares for the first time despite a relentless climb for the stock market— the type of bullish backdrop that normally drives the new-issue market.

For full article see: http://www.azcentral.com/business/arizonaeconomy/articles/20130508ipo-arizona-wall-street-radar.html