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Posts Categorized: Market Update

Mortgage Bankers Association Arizona Update

Industry News, Market Update

Joel Kan Associate Vice President, Industry Surveys and Forecasting Mortgage Bankers Association   In the Mortgage Bankers Association (MBA) most recent Mortgage Finance Forecast, revisions to national mortgage origination estimates for 2015 through 2018 were made. The 2015 originations total was revised from $1.49 trillion to $1.63 trillion including upward revisions of purchase originations for… Read more

The Courage To Thrive

Industry News, Market Update

Rick Murray CEO, Arizona Small Business Association   Once a frontier state, specific to mining and agriculture, Arizona has since thrived over the decades. Arizona is now home to over 400,000 registered small businesses in industries such as technology, medicine, finance, and real estate. With Phoenix ranked as 14th in start-up companies1 we are seeing more… Read more

Destination Marketing Drives Arizona’s Economy

Industry News, Market Update, Special Interest

Debbie Johnson Director, Arizona Office of Tourism   The results speak for themselves: marketing Arizona as a vibrant travel and tourism destination drives our state’s economy. It’s the only industry producing revenue in all 15 counties of our state. In 2014, Arizona’s travel and tourism industry generated $20.9 billion in direct visitor spending. The majority of… Read more

Market Summary Cromford Report

General Real Estate, Market Update

Michael Orr Arizona Journal Columnist Owner, Cromford® Report Director, W.P. Carey School of Business   2016 started off in a much better position than in January 2015. Almost every indicator showed us that we have a stronger market than 12 months ago. Supply remains tight at the entry level but is abundant at the higher… Read more

Commercial Slow & Steady Wins The Race

Commercial Corner, Market Update

Molly Carson Vice President, Development Ryan Companies US, Inc.   Some believe there are global and domestic issues to be concerned about in 2016 and the not so distant future: the pending presidential election, historically low oil prices, an unstable Chinese economy, rising interest rates and so on. These concerns may keep you awake at… Read more

Market Outlook

Industry News, Market Update

Michael Orr Arizona Journal Columnist Owner, Cromford Report Director, W.P. Carey School of Business   In 2015 the Greater Phoenix housing market gained strength from February through July with tight supply below $250,000 and healthy demand for the mid ranges between $250,000 and $500,000. The high end luxury market also had an excellent first half,… Read more

Arizona Economic Overview

General Real Estate, Market Update

Sandra Watson President and CEO, Arizona Commerce Authority   Arizona celebrated many accomplishments over the past year, and as we move into 2016 our state’s economic outlook is positive. During fiscal year 2015, the Arizona Commerce Authority (ACA) successfully closed 120 projects representing 18,314 projected jobs with average wages of approximately $51,809 and $1.51 billion in… Read more

Market Summary

Local, Market Update

Michael Orr AZ Journal Columnist Owner, Cromford® Report Director, W.P. Carey School of Business   Phoenix Metro After a strong six months from February 2015 through July 2015, the Greater Phoenix market has lost some momentum between August and November. It is tempting to write this off as seasonal, but it is a little more… Read more

A 2016 Update: Maricopa County Treasurer

Editoral, Market Update, Special Interest

Tricia Covert Editor, Arizona Journal of Real Estate & Business   A new year is here which means preparation for the annual tax lien auction scheduled for February 10, 2016 is underway. The auction expects an average of 1,200 people looking to invest in tax lien parcels as a result of delinquent payments from Arizona property… Read more

Is It Important to Understand Tax Liens?

Market Update, Special Interest

Barry Becker Tax Attorney   As we are all aware, virtually all property in the State of Arizona not owned by a government entity or charity is subject to a property tax. Interestingly, many people fail to pay their property taxes on a timely basis. When those taxes are not paid, the County sells the… Read more

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