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Posts Categorized: Market Update

Market Update

Market Update

Bill Gray Educator, Arizona School of Real Estate & Business   At the present time, the Phoenix Metro area is the eighth most affordable housing market in the United States. First time buyers are now entering the housing market to take advantage of today’s prices. As of mid October, a median price home in the… Read more

Mortgage Update

Market Update

Mike Fratantoni Chief Economist, Mortgage Bankers Association   The national economy is growing, and the job market continues to improve, but slower growth abroad and tighter financial conditions convinced Fed policymakers to wait at least one more meeting to increase rates. We expect GDP growth to continue at a similar pace in the second half… Read more

The New Urban Luxury Home

Market Update, Special Interest

Keith Miskin Founder, Cambridge Properties   It’s no secret the market is back in the Valley. When you look around there is construction in the works – everywhere. For the first time in years, tower cranes are in place to build some of the most luxurious, unique and not to mention tall residential buildings this… Read more

International Luxury Home Buyers

Market Update, Special Interest

Sandra L. Wilken Designated Broker, Engel & Volkers Scottsdale   There is not a simple answer to the question of how different the home buying process is when dealing with International Buyers. Generally, the basic foundation of how to handle a home buyer is the same: it is critical to understand their overall needs, define… Read more

REITS and Rising Interest Rates

Industry News, Local, Market Update

Paul Ohanian Founder & CEO, Scottsdale Wealth Planning, Inc.   As a seasoned investment professional, I have often looked to real estate to provide asset diversification, lessen general stock market exposure and, where appropriate, generate income in a portfolio. In a past Journal issue, I discussed the characteristics of Real Estate Investment Trusts or “REITs,”… Read more

Property Tax Increases for Arizona Homeowners

Industry News, Local, Market Update

Charles “Hos” Hoskins Maricopa County Treasurer   In 2012, voters passed Proposition 117 hoping to see a property tax reduction; however, it probably won’t work out that way for most homeowners. Before I tell you why, let me cover some of the characteristics of the Arizona property tax system. Properties are classified by use with… Read more

“Fix & Flip” Market Update

General Real Estate, Market Update

Written by Alan Langston Executive Director, Arizona Real Estate Investors Association   The “fix & flip” market is an important one to every community and in every market cycle. Investors add value to a real estate transaction through the rehab of a property and then selling at or near “retail” for a profit. If you… Read more

A “Fix & Flip” Inspection Is Important

General Real Estate, Market Update

Paul Furman President and Owner, AJF Engineering & Inspections   Many “fix & flip” investors take pride in remodels by using quality materials, licensed contractors and upgrades to old, antiquated systems; other investors put “lipstick on a pig.” These investors use unlicensed contractors and cut corners to maximize profits. Unfortunately, the cutting corners method has… Read more

Promoting Arizona Business Growth

Commercial Corner, Market Update

Written by: Sandra Watson President and CEO, Arizona Commerce Authority   Spearheading Arizona’s economic development efforts, the Arizona Commerce Authority (ACA) promotes statewide assets and competitive advantages to businesses in the global marketplace that will advance their corporate success. The ACA works to recruit innovative out-of-state companies to establish new operations in Arizona, helps companies operating in… Read more

10,000 Baby Boomers Retiring Every Day

Market Update, Special Interest

Written By: Karrin Taylor Chair of Federal Affairs DMB Associates, Executive Vice President   There’s a large wave of Boomers reaching retirement age every day in America. Most Boomers continue to work, at least part-time, and many report wanting a robust life of purpose in retirement. What does this mean for housing and development in Arizona?… Read more

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