Ahwatukee Real Estate | Phoenix Real Estate | Chandler Real Estate | Tempe Real Estate | Mesa Real Estate | Phoenix Realtor | Phoenix Real Estate Agent | Ahwatukee Real Estate Agent

November 2007 News Articles

11-01: Avondale seeking input on Old Town plan, an article from the West Valley View, reports that Avondale is asking for advice from its residents on reshaping its Old Town. In the coming weeks, Avondale will host a series of interactive meetings where the public can share their ideas for transforming the city's revitalization area. Ruth Clark, Avondale's revitalization project manager said the series of meetings are geared to get the public involved in an exciting, non-traditional format. During the November 5 City Council work session, consultants will present an "existing conditions report." The report analyzes the economic and market forces and demographics for Old Town, while providing concepts and strategy options for revitalization efforts. http://www.westvalleyview.com/main.asp?SectionID=2&SubSectionID=1&ArticleID=28575 11-01: Battle brewing to allow homes at Motorola site, an article from The Arizona Republic, reports that prospective buyers of the Motorola plant on Price Road, along with its 153 acres of land, want to build houses on parts of what is now prime industrial space. Mayor Boyd Dunn and other city officials are taking firm stands against residential development in the Price Road corridor. They say the land will play a critical role in the area's employment future. Two city council members did say they would be open to allowing some residential development if it's well-planned. Planning Director Doug Ballard said, "One of the reasons Chandler has become the envy of the Valley is because we have developed a strong employment base. This parcel gives us another tremendous opportunity to do things right." http://www.azcentral.com/arizonarepublic/business/articles/1031cr-motorola1101.html 11-01: Fed cuts rates to 4.5%, an article from CNNMoney.com, reports that the Federal Reserve lowered the critical short-term interest rate by a quarter of a point Wednesday, citing continued concerns about weakness in the housing market. The Fed indicated that it is also worried about inflation, which could be a sign that the central bank may be reluctant to cut rates again at its next meeting in December. The move leaves the federal funds rate at 4.5%, its lowest level since January 2006. Many investors believed the Fed would lower rates in an attempt to limit the mortgage meltdown's spillover into the broader economy. The Fed said in a statement that it felt Wednesday's action, along with the rate cut in September, "should help forestall some of the adverse effects on the broader economy that might otherwise arise from the disruptions in financial markets." http://money.cnn.com/2007/10/31/news/economy/fed_rates/index.htm?postversion=2007103116 Additional articles that you may find of interest: Developer spends $120,000 to push mall vote http://www.azcentral.com/community/gilbert/articles/1031gr-financecover1031.html Mayo Hospital hotel going up http://www.azcentral.com/community/nephoenix/articles/1101phx-mayohotel11101.html Passion high over 44th/Camelback proposals http://www.azcentral.com/community/phoenix/articles/1031phx-arcadia1102.html Wickenburg home tour has Western flair http://www.azcentral.com/realestate/articles/1031gl-nwvhomes1031.html Arizona Bank & Trust prospers http://www.eastvalleytribune.com/story/100945 ASU wants to replace frats with dorm-type houses http://www.eastvalleytribune.com/story/100908 Real estate commissions rise http://money.cnn.com/2007/10/30/real_estate/commissions_rise/index.htm?postversion=2007103113 Foreclosures jump 30 percent in 3rd quarter http://www.msnbc.msn.com/id/21551909/ When It Takes a Miracle To Sell Your House http://www.realestatejournal.com/buysell/tactics/20071031-munoz.html Survey: Repair Roads, Don't Build New Ones http://realtytimes.com/rtcpages/20071101_repairroads.htm Mortgage Tips for a Tight Lending Market http://www.realtor.org/RMODaily.nsf/pages/News2007103103 11-14: Church of Joy wants retail on its land, an article from The Arizona Republic, reports that by developing 40 acres of its 120-acre northern Glendale campus, the Church of Joy is planning its first non-church-related commercial venture. The church may sell or develop the frontage along Loop 101 at 75th Avenue with plans calling for offices, restaurants, retail and possibly a hotel. Site plans call for 650,000 square feet of office space and 250,000 square feet of restaurant and retail space. Seven acres are already zoned for a hotel. According to City Council members, the development would bring jobs and noted the congregation already brings out-of-town visitors for conferences at the worship center. http://www.azcentral.com/community/glendale/articles/1114gl-joy1114-ON.html 11-14: Realtors revise home sales forecast lower again, an article from USA Today, reports that the National Association of Realtors said sales of existing homes in the U.S. are expected to decline to a five-year low this year. The NAR's Pending Home Sales Index, based on contracts signed in September, was up 0.2 percentage points to 85.7 from 85.5 in August. Lawrence Yun, the trade group's chief economist, said the housing market is likely to experience a "modest" recovery next year as mortgage markets stabilize. He said, "It is possible for even higher home sales activity than we're forecasting if buyers regain their confidence." http://www.usatoday.com/money/economy/housing/2007-11-13-pending-home-sales_N.htm Additional articles that you may find of interest: Goodyear apartment project to be completed by May http://www.azcentral.com/community/swvalley/articles/1114swv-alliance1114.html First phase of CityNorth project 'topped out' http://www.azcentral.com/community/nephoenix/articles/1113sr-phx-citynorth1114-ON.html Factory-built homes in their own slump http://www.azcentral.com/arizonarepublic/news/articles/1114manufactured1114.html Owners against light rail on Main Street in Mesa http://www.eastvalleytribune.com/story/101970 Art Institute building sells for $22 million http://phoenix.bizjournals.com/phoenix/stories/2007/11/12/daily25.html?surround=lfn Foreclosure filings: No slowdown yet http://money.cnn.com/2007/11/13/real_estate/no_abatement_in_foreclosures/index.htm?postversion=2007111405 Mortgage applications climb http://money.cnn.com/2007/11/14/real_estate/bc.apfn.mortgage.applications.ap/index.htm?postversion=2007111408 Price tag of mass foreclosures: $223 billion http://www.msnbc.msn.com/id/21774024/ Sound Fundamentals Promise Improved Housing Market http://www.realtor.org/rmodaily.nsf/pages/News2007111301 Expert Shares Tips for Mastering 1031 Exchanges http://www.realtor.org/rmodaily.nsf/pages/News2007111303 Reverse Mortgages: The Choices Expand http://www.realestatejournal.com/buysell/mortgages/20071114-greene.html 11-15: Surprise enticing employers with 'shovel-ready' plots, an article from The Arizona Republic, reports that the Greater Phoenix Economic Council is preparing to roll out its Shovel-Ready program this month. The council flagged 23 sites across the Valley as shovel-ready, meaning the pieces of land are zoned for employment and are already served by utilities. Surprise is looking to entice potential employers as 10 of the 23 sites are in Surprise and all are within what the city has named the Southwest Railplex. All of the business parks in the area are industrial centers set to go up around the BNSF Railway tracks. John Hagen, Surprise economic development director, said he hopes the city's shovel-ready sites combined with easy railroad access will be attractive to potential, high-wage paying industrial tenants. http://www.azcentral.com/community/westvalley/articles/1115gl-nwvshovel116-ON.html Additional articles that you may find of interest: Chandler open to offering rebates for 'green' retrofits http://www.azcentral.com/community/chandler/articles/1115cr-green1115.html Goodyear OKs contract for work on new ballpark http://www.azcentral.com/community/swvalley/articles/1115swv-ballpark1116.html Commission to consider controversial mountain-top subdivision http://www.azcentral.com/community/scottsdale/articles/1114sr-ccmountain1115-ON.html City planners don't like Las Sendas plan http://www.azcentral.com/community/mesa/articles/1114mr-lassendasdeny1114.html Developer looks to build 'green' in Valley http://www.eastvalleytribune.com/story/102050 Queen Creek horse-park construction starts http://www.eastvalleytribune.com/story/102059 Scottsdale's downtown mobility draws critics http://www.eastvalleytribune.com/story/102056 Phoenix ranks 15th among cities for foreclosures http://phoenix.bizjournals.com/phoenix/stories/2007/11/12/daily29.html?surround=lfn 'Roulette Economy' of 2007 Is Almost Over http://www.realtor.org/RMODaily.nsf/pages/News2007111401 NAR Survey: FSBO Rate Remains Steady in 2007 http://www.realtor.org/RMODaily.nsf/pages/News2007111403 Absorption Rate Is Key to Successful Pricing http://www.realtor.org/RMODaily.nsf/pages/News2007111404 Mortgage Applications up 5.5% for the Week http://www.realtor.org/RMODaily.nsf/pages/News2007111408 11-20: Downtown condo craze cooling off, an article from The Arizona Republic, reports that condo sales in downtown Phoenix have slowed to a trickle, according to developers. CityScape, a $900 million mixed-use development, has added plans for apartments and pushed back plans for condos. Other developers are converting some planned condo projects to apartment projects, including Jet and Alta Phoenix. At the Summit at Copper Square, 30 of 165 condos remain unsold. Approximately a third of the 196 condos at 44 Monroe have yet to sell. However, it's important to remember that many serious buyers won't pull the trigger until a condo tower is complete. Condo sales across the country are down 37% from the market peak. Many insiders remain upbeat about the long-term prospects of the downtown Phoenix condo market. For its size, Phoenix has a relatively small number of condos downtown. http://www.azcentral.com/realestate/articles/1120condos1120.html 11-20: AC in the winter? Brrrr-rilliant!, an article from CNNMoney.com, reports that not only will installing central air-conditioning automatically raise the value of your home, but you will also get a great deal if installed during the winter. A slow time for contractors is during the winter months. Robert Wilkos, general manager of Peaden Air Conditioning said, "In December we're trying to find enough work to keep our crews busy, so our pencils are a lot sharper." Wilkos typically knocks 10% and sometimes as much as 20% off his wintertime bids, which could be a savings of up to $3,000 in central AC costs. Appraiser Alan Hummel, a spokesman for the Appraisal Institute, a national standards-setting organization, said central AC instantly increases the value of your house by at least as much as it costs to install, and in warm climates by up to 10% more. http://money.cnn.com/2007/11/19/real_estate/tips/central_air.moneymag/index.htm?postversion=2007112005 Additional articles that you may find of interest: Mesa opposes cuts to shared tax revenue http://www.eastvalleytribune.com/story/102387 Road bond projects on deck for Gilbert http://www.eastvalleytribune.com/story/102305 Johnson Ranch developers now face impact fees http://www.eastvalleytribune.com/story/102384 Face-to-face dealing with Realtor still best tactic http://www.azcentral.com/community/glendale/articles/1119gl-swann1117-ON.html Sundance gets $50.8M in financing http://www.azcentral.com/community/swvalley/articles/1119swv-sundance1117.html Residents, builders taking over Desert Ridge HOA http://www.azcentral.com/news/articles/1119phx-desertridge1121.html Gila River breaks ground on new Wild Horse Pass casino http://www.azcentral.com/community/chandler/articles/1119ev-casino1121.html F.H. residents appear split on new primary property tax http://www.azcentral.com/community/scottsdale/articles/1119sr-fhshortfall1120-ON.html Resort developer to present scaled-down plan http://www.azcentral.com/news/articles/1119sr-pvcommission1120-ON.html Pinal officials want countywide Wi-Fi http://www.azcentral.com/arizonarepublic/local/articles/1119evwireless1119.html Showrooms, office buildings going up near Grayhawk http://phoenix.bizjournals.com/phoenix/stories/2007/11/19/daily6.html?b=1195448400^1553191 Home builder incentives 'having limited success' http://www.inman.com/inmanstories.aspx?ID=65261 Crime scene: foreclosure http://money.cnn.com/2007/11/16/real_estate/suprime_and_crime/index.htm?postversion=2007111908 Have You Overlooked a Key Market? http://www.realtor.org/RMODaily.nsf/pages/News2007111902 1031 Exchanges: It's a Tax Thing http://www.realtor.org/RMODaily.nsf/pages/News2007111905 NAR Board of Directors Approves Credit Union http://www.realtor.org/rmodaily.nsf/pages/News2007111901 11-26: East Mesa growth has Planning Division hopping, an article from The Arizona Republic, reports that the Planning Division at City Hall is booming with business with a virtual library of new development plans to cover thousands of acres of vacant ground with homes and businesses. The biggest share of the plans represents development for east Mesa. Greg Troast, president and founder of Troast Properties, is one of three developers proposing to collectively turn more than 75 acres near the northwestern corner of Loop 202 and Recker Road into a mixture of upper-end projects, including a business park, offices, retail and hotels. Lois Yates, executive director of the Falcon Field Alliance, a non-profit promoting economic growth in the area said, "This area defies anything I've ever seen for economic development potential." http://www.azcentral.com/community/mesa/articles/1122mr-eastmesa1124.html 11-26: Improve Your Likeability Factor, an article from Realtor Magazine Online, reports that according to Mary Ann Bush, the first step in the process of building a successful real estate business is to improve your likeability. Bush said, "Rapport and trust are keys in developing any relationship. Developing new clients takes greater time, money and energy than nurturing existing clients." She also added statistics showing that 15% of business success comes from an individual's skills and knowledge, while 85% is derived from the ability to connect with others. One suggestion Bush offered to improve your likeability is to quit worrying about being interesting to others and start being interested in others. http://www.realtor.org/rmodaily.nsf/pages/News2007112102 Additional articles that you may find of interest: Dreamy Draw proposal raises ire http://www.azcentral.com/community/phoenix/articles/1126dreamydraw1126.html These days, some home sellers will try just about anything http://www.azcentral.com/arizonarepublic/news/articles/1124desperate24.html Development executive targets the world http://www.azcentral.com/arizonarepublic/business/articles/1125biz-miller1125.html Housing prices still in decline http://www.azcentral.com/arizonarepublic/business/articles/1125biz-catherine1125.html Buyers outnumber sellers in religious real-estate market http://www.azcentral.com/community/mesa/articles/1123biz-church1124-ON.html Buckeye Council debates industrial vs. houses http://www.westvalleyview.com/main.asp?SectionID=2&SubSectionID=1&ArticleID=28927 Foreclosure rescue: Saving a home http://money.cnn.com/2007/11/19/real_estate/foreclosure_fix_Stutzmans/index.htm?postversion=2007112110 Mortgage meltdown's nightmare scenario http://www.msnbc.msn.com/id/21921214/ Most Metro Areas See Modest Price Gains http://www.realtor.org/rmodaily.nsf/pages/News2007112101 11-27: Survey respondents want PV to maintain low density, an article from The Arizona Republic, reports that based on preliminary results of an annual survey conducted by the Paradise Valley Citizens Forum, preservation of privacy, low density and open space are what Paradise Valley residents want to see. There were 6,500 surveys delivered to households and to date, 535 completed surveys have been completed. Some of the topics covered by the survey include why residents live in Paradise Valley, resort development, construction activity and water conservation. The survey is also a fundraiser for the non-profit group. In addition to the returned surveys, the forum has received more than $1,000 in donations. Residents have until December 31 to return their completed questionnaires. http://www.azcentral.com/community/nephoenix/articles/1126sr-pvforum1127ON.html 11-27: FHA Loan Program: Model of Success?, an article from Realty Times, reports that the FHA Loan Program is the biggest real estate success during the past year. Applications for FHA financing are up more than 20% from last year. One of the reasons more people are turning to FHA programs is if your finances change, the FHA has a hugely-successful program to help prevent foreclosures. The FHA has just come out with a new loan, in addition to its traditional mortgages, designed specifically for troubled ARM borrowers who face foreclosure. The new program, FHASecure, is available even to homeowners who have missed six or more monthly payments. http://realtytimes.com/rtpages/20071127_loanprogram.htm Additional articles that you may find of interest: New companies selling places to park that RV or boat http://www.azcentral.com/community/chandler/articles/1127cr-boystoys1128.html Lowe's takes another shot at southwest Mesa site http://www.azcentral.com/community/mesa/articles/1127mr-lowes1128.html Public can offer views on Transportation Master Plan http://www.azcentral.com/community/scottsdale/articles/1126sr-transport1127ON.html Glendale Express gets green light http://www.azcentral.com/arizonarepublic/business/articles/1127biz-gl-bus1127.html Local businesses upbeat about 2008 http://www.eastvalleytribune.com/story/102796 Scottsdale parks get $6.5 million boost http://www.eastvalleytribune.com/story/102815 Ware Malcomb designing three West Valley projects http://phoenix.bizjournals.com/phoenix/stories/2007/11/26/daily15.html?surround=lfn Home prices take steeper downturn http://money.cnn.com/2007/11/26/real_estate/Case_Shiller_index_drops/index.htm?postversion=2007112709 Foreclosures to have 'profound' impact, report warns http://www.usatoday.com/money/economy/housing/2007-11-27-foreclosures_N.htm Owning Duplex Unit Requires Cooperation http://www.realtor.org/rmodaily.nsf/pages/News2007112106 Realius - Bringing Joy Back To Real Estate? http://www.mortgagenewsdaily.com/11262007_realius.asp 11-29: Developer bids for Mesa's Pinal land, an article from the East Valley Tribune, reports that Mesa is considering the sale of 1,600 acres of city-owned land in Pinal County to Schuck Colorado Ltd. The Colorado-based developer approached the city's real estate broker about three months ago to inquire about purchasing the property, according to Doug Tessendorf, Mesa's real estate director. The sale of the property could bring the city $48.5 million in new revenue. Tessendorf said the first phase of the sale covering 560 acres would close a year from now at a price of $30,000 per acre. According to the city's documents, Schuck plans to use the Pinal County land as an industrial subdivision served by the Union Pacific Railroad. Mesa officials said the industrial development could complement the city's plans to develop industrial job centers near Phoenix-Mesa Gateway Airport. http://www.eastvalleytribune.com/story/102972 11-29: Economy best in four years, an article from CNNMoney.com, reports that despite a hit from the housing and credit markets, the nation's economy grew at a 4.9% rate in the third quarter, according to the government's latest reading. That is up from the 3.9% growth rate in the government's initial estimate for the period. The gross domestic product, the broad measure of the nation's economic activity, matched the consensus forecast of economists surveyed by Briefing.com. New readings showed stronger exports, spending by individuals and growth of business inventory lead to the large upward revision. The growth was the best rate since the same period of 2003. http://money.cnn.com/2007/11/29/news/economy/gdp/index.htm Additional articles that you may find of interest: Goodyear amends general plan http://www.westvalleyview.com/main.asp?SectionID=2&SubSectionID=1&ArticleID=28981 Business Center to lead revitalization efforts, Avondale officials say http://www.westvalleyview.com/main.asp?SectionID=2&SubSectionID=1&ArticleID=28984 AJ's in S. Chandler attracting high-end shops http://www.azcentral.com/community/chandler/articles/1129cr-ajs1129.html Recent top home sales in the Southwest Valley http://www.azcentral.com/community/swvalley/articles/1129SWV-tophomes30.html New home sales stable for months http://www.tribunehomefinder.com/story/102852 Existing home sales, prices drop nationally, regionally http://phoenix.bizjournals.com/phoenix/stories/2007/11/26/daily35.html?surround=lfn Foreclosure's other victims - those left behind http://money.cnn.com/2007/11/28/real_estate/Slavic_villages_other_victims/index.htm?postversion=2007112815