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Millionaire Now! by Larry Nusbaum

This blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth".

Real Estate News And Notes

Posted on 05/05/2007 06:54:12 | Link | Post Comment
Pinal County Home Sales Down
from the Business Journal of Phoenix, reports that there were 840 existing home sales in Pinal County during the first quarter of 2007, about half the number from the same period two years ago, according to the Realty Studies at Arizona State University Polytechnic. From a high of 1,785 recorded sales in the second quarter of 2005, the Pinal County resale market has steadily declined to the current 840 quarterly sales. The median price has also fallen, from a high of $220,000 in the fourth quarter of 2005 to $204,600 in the first quarter of 2007. The median home price in Pinal County was 78 percent of the median price in Maricopa County ($262,570).

From Rex Nutting at MarketWatch: Fed to consider new rules against abusive lending.

Condos available-- for a lofty price from the Arizona Republic,
reports that Scottsdale's redevelopment boom the past few years has brought several thousand new condominiums to the downtown Scottsdale area, most with price tags of $500,000 and up. Sometimes, way up. That has some citizens wondering where the affordable lofts and condos are for people with normal means. Grace Communities is building the X Wine Lofts northwest of Scottsdale and Osborn Roads. It will have 82 units and target young buyers. Prices for the smallest 900 s.f. unit start at over $300,000, with the larger units (2,100 s.f.) selling for up to $900,000. Urban Homes Development Corp. plans to break ground in August on another 288-unit project called Citro Camelback, at 78th Street and Camelback Road. Prices on the first 96 units will start at $500,000. Even apartment dwellers are getting squeezed out due to condo conversions and apartment being torn down. The latest is the Orchidtree Apartments at 68th Street and Camelback, where a large condo project is now planned.

New San Francisco project: Renderings of 10th & Market [SFCondo]

2845 Broadway has been on the market for 426 days, still at $65,000,000: 2845 Broadway [MLS]

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