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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Valley Housing Market Is Still Good
Posted on 06/25/2007 15:29:05 | Link | Post Comment
Valley housing market is still good
from the Arizona Republic, reports that despite competition from a huge number of homes for sale in the Phoenix area, real estate expert Jay Butler told Tempe leaders Thursday that prices remain above the national average. "The market is about where it should be and people don't like to hear that", the director of Realty Studies at ASU said at the Tempe Chamber of Commerce lunch. The median price of a home in the Phoenix area used to be about 90 percent of the National Association of Realtors national median price, he said. Now, with the run up in home prices, Phoenix's median price sits at about $260,000, above the national median price of $219,000. Butler notes several problems facing the market. Buyers can't afford as much because of the higher prices and because skittish lenders have been tightening their loan guidelines. Sellers can't or won't lower prices because they owe too much. and buyers are having problems selling their own homes. "The problem is a lot of people say this is a buyers market, but most buyers first have to be sellers." he said.
Bypass considered to ease traffic in I-10 the Arizona Republic,
reports that state highway planners have floated the idea of a bypass freeway connecting Phoenix and Tucson, and it is stirring lots of debate. Urban planners predict mushrooming growth will connect Phoenix and Tucson into a vast "megapolitan" area. The so-called Sun Corridor is one of 10 "super-sized" metro areas expected to be the epicenter of growth during the next four decades. An I-10 bypass would bring another major roadway to the area with the goad of carrying cross-country drivers around the heavy traffic in Phoenix and Tucson. Housing professionals agree that much of the open space between Phoenix and Tucson will be developed in the next 15 to 20 years, about as long as it would take to build an I-10 bypass. The combined population of the "Sun Corridor" is about 5 million now, and it is expected to double by 2040. No route is locked in and ADOT is still collecting comments, so if you have an opinion, contact ADOT or go to their web site for more details.
Lees Mayfield Advances $200M Mixed-Use Plan from REM Network
Chandler Echelon, a mix of class A office, hospitality and retail, targets multi-tenant users. A 185,000-sf office starts the play.
Saxa Working $26M Plan for State-Auctioned Land from REM Network
The developer gets the last large piece of dirt in a five-mile radius. The build-out plan is 100,000 sf of office condos and retail space.
Medical Offices Prove To Be a Healthy Asset from the WSJ,
reports that these properties are attracting investors, thanks to strong fundamentals and sky-high prices for other types of real estate.
HOW TO PROFIT FROM THE OFFICE CONDO BOOM NOW!
from the Arizona Republic, reports that despite competition from a huge number of homes for sale in the Phoenix area, real estate expert Jay Butler told Tempe leaders Thursday that prices remain above the national average. "The market is about where it should be and people don't like to hear that", the director of Realty Studies at ASU said at the Tempe Chamber of Commerce lunch. The median price of a home in the Phoenix area used to be about 90 percent of the National Association of Realtors national median price, he said. Now, with the run up in home prices, Phoenix's median price sits at about $260,000, above the national median price of $219,000. Butler notes several problems facing the market. Buyers can't afford as much because of the higher prices and because skittish lenders have been tightening their loan guidelines. Sellers can't or won't lower prices because they owe too much. and buyers are having problems selling their own homes. "The problem is a lot of people say this is a buyers market, but most buyers first have to be sellers." he said.
Bypass considered to ease traffic in I-10 the Arizona Republic,
reports that state highway planners have floated the idea of a bypass freeway connecting Phoenix and Tucson, and it is stirring lots of debate. Urban planners predict mushrooming growth will connect Phoenix and Tucson into a vast "megapolitan" area. The so-called Sun Corridor is one of 10 "super-sized" metro areas expected to be the epicenter of growth during the next four decades. An I-10 bypass would bring another major roadway to the area with the goad of carrying cross-country drivers around the heavy traffic in Phoenix and Tucson. Housing professionals agree that much of the open space between Phoenix and Tucson will be developed in the next 15 to 20 years, about as long as it would take to build an I-10 bypass. The combined population of the "Sun Corridor" is about 5 million now, and it is expected to double by 2040. No route is locked in and ADOT is still collecting comments, so if you have an opinion, contact ADOT or go to their web site for more details.
Lees Mayfield Advances $200M Mixed-Use Plan from REM Network
Chandler Echelon, a mix of class A office, hospitality and retail, targets multi-tenant users. A 185,000-sf office starts the play.
Saxa Working $26M Plan for State-Auctioned Land from REM Network
The developer gets the last large piece of dirt in a five-mile radius. The build-out plan is 100,000 sf of office condos and retail space.
Medical Offices Prove To Be a Healthy Asset from the WSJ,
reports that these properties are attracting investors, thanks to strong fundamentals and sky-high prices for other types of real estate.
HOW TO PROFIT FROM THE OFFICE CONDO BOOM NOW!
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