12-6:  Experts predict gloomy economy for 2008, an article from the East Valley Tribune, reports that according to experts who spoke at the 44th annual Economic Forecast Luncheon, next year is shaping up as a weak one for the Arizona and national economies.  Lee McPheters, senior associate dean of the W.P. Carey School of Business at Arizona State University, predicted that Arizona's economy will continue to grow and avoid recession, but growth is likely to be slower than in the past few years.  Elliott Pollack said the housing market will be characterized next year by declining prices, excess inventories, a continuing slowdown in construction and weak demand.  He said the tightening of credit that began in late summer probably reduced the pool of home buyers in the Valley by 20% and a slowdown in population growth may have reduced it by another 20%.  Pollack said the one bright spot in the real estate market has been commercial construction, which has been booming. 

http://www.eastvalleytribune.com/story/103460

12-6:  Glimcher Ventures plans 2008 start for $100M Baseline Marketplace, an article from The Business Journal of Phoenix, reports that on Wednesday, Scottsdale-based Glimcher Ventures Southwest LLC that it will begin construction early next year on a $100 million mixed-use project in Mesa.  Baseline Marketplace will sit on 52 acres at the northwest corner of Loop 202 San Tan Freeway and Baseline Road.  Plans include shops, restaurants, office space and 350 apartment units.  The residential portion will be developed by Trillium Development and completion is expected in 2009.
http://phoenix.bizjournals.com/phoenix/stories/2007/12/03/daily32.html?b=1196658000^1559807

12-6:  Treasury to unveil details of mortgage plan, an article from MSNBC.com, reports that on Thursday, President Bush is set to unveil details of a plan to help head off a wave of mortgage foreclosures hitting homeowners whose adjustable-rate loans are resetting to monthly payment they can't afford.  Congressional aides said that under terms of an agreement hammered out between the administration and  lenders, interest rates would be frozen for five years on certain subprime mortgages.  The result of negotiations led by Treasury Secretary Henry Paulson, the White House plan would freeze interest rates at lower "starter" rates on many loans that were popular with lenders and borrowers the tail end of the housing boom.  According to Paulson, the government wanted to freeze rates to give homeowners and lenders more time to refinance or modify terms of existing loans.

http://www.msnbc.msn.com/id/22116043/

Additional articles that you may find of interest:

Light rail could be in Chandler's future
http://www.azcentral.com/community/chandler/articles/1205cr-rail1206.html

Citizen complaints not enough to stop The Falls
http://www.azcentral.com/community/nephoenix/articles/1206phx-newhousing1207.html

Phoenix approves Dreamy Draw project
http://www.azcentral.com/community/phoenix/articles/1205phxdreamydraw1206.html

Potential Sun City Anthem home buyers now have place to stay
http://www.eastvalleytribune.com/story/103494

Board OKs Waveyard business unit guidelines
http://www.eastvalleytribune.com/story/103507

Proposed theme park near Eloy beefs up lobbying team
http://phoenix.bizjournals.com/phoenix/stories/2007/12/03/daily34.html?surround=lfn

Phoenix site swept up in sale of American Express buildings
http://phoenix.bizjournals.com/phoenix/stories/2007/12/03/daily35.html?b=1196658000^1559993

Foreclosure solutions won't be easy
http://www.msnbc.msn.com/id/22103383/
 
Bill Would Help Home Owners at Brink of Foreclosure
http://www.realtor.org/rmodaily.nsf/pages/News2007120502
 
Mortgage Volume Soars After Thanksgiving
http://www.realtor.org/rmodaily.nsf/pages/News2007120501
 
More Borrowers Tap Loans of Last Resort
http://www.realestatejournal.com/buysell/mortgages/20071206-opdyke.html
 
Be Paid to Live in Your Home with Home Loopholes
http://realtytimes.com/rtpages/20071206_homeasset.htm

12-10:  A.J. weighing $6.6M retail center payback, an article from the East Valley Tribune, reports that by offering a sales tax rebate of up to $6.6 million for developer-funded road and sewer work, Apache Junction is hoping to lure a major retail center inside its boundaries.  The City Council will vote on a sales tax incentive package for developer US 60 and Idaho LLC.  The developer wants to build a 500,000- to 700,000-square-foot shopping center at the intersection of US 60 and Idaho.  Apache Junction Gateway would cost an estimated $150 million.  City Economic Development Director Steve Filipowicz said the retail center would create 350 to 700 jobs for the area.  The development is expected to contain a major fitness center, a multiplex movie theater and at least two major retail anchor stores 100,000 square feet or larger.

http://www.eastvalleytribune.com/story/103773

12-10:  New Valley housing-price index relies on repeat sales, an article from The Arizona Republic, reports that as homes have gotten bigger and skewed price comparisons, tracking the housing market by median home prices has become more controversial.  Researchers at ASU's W.P. Carey School of Business have created a single-family housing price index based on repeat sales.  Professor Karl Guntermann, ASU real-estate professor, says median home prices aren't always reliable because the housing market is different and "heterogeneous."  The new index is called ASU-RSI and receives its data from Mesa-based Ion Data/Data Express.

http://www.azcentral.com/arizonarepublic/business/articles/1209biz-catherine1209.html

12-10:  Foreclosure hotline overwhelmed with calls, an article from CNNMoney.com, reports that a national hotline to help borrowers facing foreclosure has been overwhelmed with calls following President Bush's announcement of a plan to ease the foreclosure crisis.  Tracy Morgan, vice president of communications and business development for the Homeownership Preservation Foundation, said borrowers were told to call 888-995-HOPE, a line that has a normal call volume of about 1,500 calls per day.  According to Morgan, she estimates that it was three to four times the call-volume record set earlier in the week when 5,800 people called.  The Homeownership Preservation Foundation contracts with six credit counseling agencies nationwide to answer calls to the hotline. 

http://money.cnn.com/2007/12/07/real_estate/foreclosure_hotline/index.htm?postversion=2007120719

Additional articles that you may find of interest:

3-story site near freeway is OK'd
http://www.azcentral.com/community/nephoenix/articles/1207phx-building1207-ON.html

Renovated Smoke Tree Resort has unique charm
http://www.azcentral.com/community/nephoenix/articles/1208sr-smoketree1208-ON.html

Pipeline raises concerns for Phoenix developers, airport
http://www.azcentral.com/arizonarepublic/news/articles/1210pipeline.html

13,000-square-foot home in Scottsdale on the block
http://www.azcentral.com/community/scottsdale/articles/1207sr-biz1207realestate-ON.html

New condo project to rise near Valley Ho
http://www.tribunehomefinder.com/story/103705

Experts: Investors need to stick with long-term plans
http://www.eastvalleytribune.com/story/103757

Where do rail, streetcars fit in Scottsdale?
http://www.eastvalleytribune.com/story/103779

How Hot Land Sales Offset a Housing Glut in Phoenix
http://www.realestatejournal.com/buysell/markettrends/20071210-corkery.html

Subprime freeze plan: Who's left out
http://money.cnn.com/2007/12/08/real_estate/Bush_plan_limitations/index.htm?postversion=2007120909

Get the Most Bang for Your Closing Gift Buck
http://www.realtor.org/rmodaily.nsf/pages/News2007120702

Home Owners Less Likely to Tap Home Equity
http://www.realtor.org/rmodaily.nsf/pages/News2007120706

AIA Research Shows Cities Increasingly Have "Green Thumb"
http://realtytimes.com/rtpages/20071210_greenthumb.htm

12-11:  Bidwill project's impact: $2.6 billion a year, 23,000 jobs, an article from The Arizona Republic, reports that according to a new economic-impact report by Valley economist Elliott Pollack, the Bidwill family's planned business park south of University of Phoenix Stadium would generate $2.6 billion a year and create nearly 23,000 direct and indirect jobs.  Pollack said Glendale leaders' proactive efforts to lure the Arizona Cardinals football stadium, concert and hockey arena and the expanding Westgate City Center have helped the city net the Bidwill family's $1.2 billion business-park project.  Plans for cbd101, which stands for "central business district", call for 2.6 million square feet of office space with as many as a dozen large corporate buildings along Loop 101; a 36-story iconic tower with residential, office and hotel space; shops, restaurants and a farmer's market; three stand-alone hotels; more than 900 residential units of different housing types and an organic farm. 

http://www.azcentral.com/community/glendale/articles/1211gl-bidwill1211-ON.html

12-11:  3 Places to Find Money for a Down Payment, an article from Realtor Magazine Online, reports that buyers who don't have a 20% down payment are finding it harder to buy a home.  One source of money that is still available is borrowing from a 401(k) if your company allows this.  The maximum available is $50,000 ($100,000 if both spouses have 401(k)s), repayment on the loan is due within five years.  If the loan is not repaid, the loan will be considered a withdrawal and the borrower will be liable for penalties and federal income tax.  Another source is gifted money.  Parents, friends, and relatives can give a gift toward the down payment with a gift letter stating the money doesn't need to be repaid.  One more option is withdrawing up to $10,000 from an IRA for a purchase of a first home.  A potential borrower who hasn't owned a home in the past three years is considered a "first-time buyer" and can make a withdrawal for this specific purpose.

http://www.realtor.org/rmodaily.nsf/pages/News2007121005

Additional articles that you may find of interest:

Light rail condo project faces test with neighbors
http://www.azcentral.com/community/mesa/articles/1211mr-element1212.html

Hermosa Inn to undergo $44 million remodel
http://www.azcentral.com/community/scottsdale/articles/1208nehermosa1210ON.html

Catlin Court historic district adds 71 homes
http://www.azcentral.com/community/glendale/articles/1208gl-catlin1208-ON.html

Phoenix panel to vote on proposed subdivision of parcel
http://www.azcentral.com/community/nephoenix/articles/1210phx-pvzoning1212.html

Litchfield begins annexation process
http://www.westvalleyview.com/main.asp?SectionID=2&SubSectionID=1&ArticleID=29135

NAR: Another Monthly Gain for Pending Home Sales
http://www.realtor.org/rmodaily.nsf/pages/News2007121001
 
Fed Expected to Cut Key Rates on Tuesday
http://www.realtor.org/rmodaily.nsf/pages/News2007121002
 
Trade group lifts outlook for 2008 home Sales
http://www.msnbc.msn.com/id/22183591/

12-13:  Phoenix home resales slowed to crawl in November, an article from The Arizona Republic, reports that the median price in the Phoenix area fell 7% to $240,000 in November, compared with $259,000 last year, according to Arizona State University's Realty Studies.  Home sales in November suffered a 35% drop with only 3,280 sales, compared with 5,040 a year earlier.  Jay Butler, director of the center said, "When there is a lot of uncertainty, people become reluctant to make major commitments."  In mature neighborhoods close to freeways, stores and schools, sales prices are remaining stable or increasing, he said.  One bright spot is that homes continue to get more affordable.  The market for houses priced at $200,000 also continues to increase.  The percentage of homes sold in that price range increased from last year's 16% to 29% in November.   
http://www.azcentral.com/business/articles/1212biz-homesales1213-ON.html

12-13:  Tougher Standards Drive Up the Cost of Homeownership, an article from Realtor Magazine Online, reports that even borrowers with excellent credit are beginning to feel the pinch of the mortgage crisis.  Fannie Mae, followed closely by Freddie Mac, has imposed an extra 0.25% upfront charge on all new mortgages that it buys or guarantees.  According to Fannie Mae, the new fee is needed "to ensure that what we charge aligns with the risk we bear."  The National Association of Home Builders said the fee is "a broad tax on homeownership" because more than 40% of all mortgages outstanding are owned or guaranteed by Fannie or Freddie.
http://www.realtor.org/rmodaily.nsf/pages/News2007121201

Additional articles that you may find of interest:

Anthem developer ceding control to homeowners
http://www.azcentral.com/news/articles/1213phx-anthem1214cover.html

Goodyear panel OKs 160-acre project
http://www.azcentral.com/community/swvalley/articles/1212swv-farms1212.html

Meritage wants lower payments on Desert Ridge land
http://www.azcentral.com/community/nephoenix/articles/1212phx-land1212-ON.html

Median cost takes dive in home resales
http://www.azcentral.com/arizonarepublic/business/articles/1213biz-resales1213.html

Gilbert faces decisions amid financial woes
http://www.eastvalleytribune.com/story/104370

Tempe apartment complex sold for $41M
http://phoenix.bizjournals.com/phoenix/stories/2007/12/10/daily27.html?b=1197262800^1563104

Why Borrowers May Not Benefit From Rate Cut
http://www.realestatejournal.com/buysell/mortgages/20071213-kim.html

Real Estate Outlook: A Mixed Message as Mortgage Rates Drop
http://realtytimes.com/rtpages/20071213_realestateoutlook.htm

With this housing scene, it's a rentals market
http://www.msnbc.msn.com/id/22222758/

12-19:  Developer donates Dreamy Draw tract, an article from The Arizona Republic, reports that home developer James Sasser will donate the 10-acre Dreamy Draw parcel to Phoenix, which will incorporate it into its mountain preserve.  Sasser had planned to build four homes on the site and had already received approval from City Council.  Councilman Claude Mattox said, "He has a strong relationship with they city, and his interest is in what is best for the city."  Sasser said, "The only logical thing to do was to make the donation."   The City Council is expected to vote today to accept the donation.
http://www.azcentral.com/community/phoenix/articles/1218dreamydraw1219.html

12-19:  5 Year-End Benchmarks Key to New Year Marketing Success, an article from RealtyTimes.com, reports that using the hindsight of year-end benchmarks is the best way to guarantee success in the coming year.  Here are a few benchmarks to help plan a new year of marketing success.  First, start with your numbers.  What was your gross commission income and percent of profit?  Run your numbers and the areas that need attention will be obvious.  Another area to focus your attention is to track your marketing expenses.  How much did you invest in marketing this year?  If you need to cut costs, remember to "cut back, don't drop out."   Finally, record your prospecting activities.  Create a record-keeping system that tracks the number of attempts, contacts, leads, appointments and closings you make.  When you chart these numbers, you will see ratios that will help you see where improvements may be needed.  Here's to a successful 2008!! 
http://realtytimes.com/rtpages/20071219_yearend.htm

Additional articles that you may find of interest:

Avondale to allow taller buildings
http://www.westvalleyview.com/main.asp?SectionID=2&SubSectionID=1&ArticleID=29244

SunCor sells land in Litchfield Park to Rose Properties
http://www.westvalleyview.com/main.asp?SectionID=2&SubSectionID=1&ArticleID=29240

Decision likely on landfill near Pinal trust land
http://www.azcentral.com/community/pinal/articles/1219evlandfill1219.html

Scottsdale panel will review transit proposals
http://www.eastvalleytribune.com/story/104779

Downtown Phoenix Renaissance towers in escrow for $273 million
http://phoenix.bizjournals.com/phoenix/stories/2007/12/17/daily25.html?b=1197867600^1566020

November foreclosures take a dip
http://money.cnn.com/2007/12/19/real_estate/foreclosures_take_dip/index.htm?postversion=2007121906

Fed endorses rules to curb shady lending
http://www.msnbc.msn.com/id/22309285/

More Real Estate Companies Spend Ad Dollars Online
http://www.realtor.org/RMODaily.nsf/pages/News2007121804

Beware of Home Sellers Offering Incentives
http://www.realestatejournal.com/buysell/tactics/20071218-loeb.html

12-20:  Chandler could double homes allowed per acre, an article from The Arizona Republic, reports that in order to encourage urban redevelopment, add workforce housing and make better use of mass transit, Chandler is poised to more than double the number of homes allowed on 1 acre.  Planning Director Doug Ballard said that Chandler has become an attractive place to live and work as Valley residents grow increasingly frustrated with traffic and long commutes.  Committee consultants and municipal planners suggested raising the city's 18-homes per acre limit to 40 or 50 in select areas like downtown.  The density limit in Chandler is among the Valley's lowest and even Gilbert allows up to 50 per acre, according to long-range planner David DeLaTorre.  Chandler has a reputation for preserving prime commercial land in the face of pressure from home builders.  Hank Pluster, interim long-range planning manager, said they city's economic success is tied to preservation of commercial and industrial land.    
http://www.azcentral.com/community/chandler/articles/1219cr-genplan1220.html
 
12-20:  Commercial Real Estate Fundamentals Remain Sound, an article from Realtor Magazine Online, reports that according to the latest "Commercial Real Estate Outlook" of the National Association of Realtors, the fundamentals in commercial real estate remain healthy with only slight increases in vacancy rates expected for the office and industrial sectors during 2008.  NAT Chief Economist Lawrence Yun says the credit crunch has been impacting the market over the last few months, but 2007 is already a record for commercial real estate investment.  An analysis of data from Real Capital Analytics shows that a record $325 billion was invested in commercial real estate the first 10 months of 2007, up from $306.8 billion for all of 2006.  
http://www.realtor.org/rmodaily.nsf/pages/News2007121901
Additional articles that you may find of interest:

Supervisors approve plans for massive subdivision
http://www.azcentral.com/community/scottsdale/articles/1219sr-goldfield1220-ON.html