Phoenix posts biggest price increase on Case-Shiller home index
T he latest S&P/Case-Shiller home price index is out, and Phoenix is leading the nation again. But this time, it’s the right direction. Phoenix-area home prices increased 1.1 percent between October and November of 2009, the highest increase of any of the U.S. metro ar- eas tracked on the 20-city index. Phoenix home prices were down 14.2 percent for the 12 months ended November 2009. The average declinefor the index during that periond was 5.3 percent. For several months last year, Phoenix led the index for the biggest home price drop. … read the rest of this post
Forecast for home building in Phoenix this year – 8,500 single-family permits
M etropolitan Phoenix’s home building market can only improve after last year’s dismal results. The Phoenix Housing Market Letter reports 8,027 single-family, building permits were issued in the region during 2010, the lowest level in at least 20 years. In 1990, during the middle of the last real-estate led recession, there were 10,619 permits for new homes issued in the Phoenix-area. Publishers of the Housing Market Letter RL Brown and Greg Burgerdon’t expect 2010 to be much better. Their 2010 forecast calls for 8,500 home building permits this year. By 2012, the market could rebound enough for 22,000 new homes to be built … read the rest of this post
Arizona Smart Growth awards given to ASU and Scottsdale projects
A rizona State University’s downtown Phoenix campus and Scottsdale’s Indian Bend Wash have garnered Smart Growth awards from Urban Land Institute Arizona. The two projects were honored for being economically sound, envirnomnetally friendly and supportive of community liviblity.The awards were handed out at Urban Land’s annual forecast event Thursday. “ASU’s Downtown Phoenix Campus has transformed Downtown Phoenix and is an outstanding example of an Urban Land Institute ‘Best Practice’ worthy of emulation,” said Wil Cardon, Urban Land’s Smart Growth Committee co-chair. The Downtown Phoenix Campus provides a mix of land uses including housing, retail, plazas, and public spaces with classrooms. Close...
Arizona real estate veteran Pete Bolton to lead Grubb & Ellis' new Phoenix office
A rizona commercial real estate veteran Pete Bolton is back in the brokerage business. He has rejoined Grubb & Ellis to lead its new metropolitan Phoenix office. Bolton presence has been missed in the market since he left the helm of CB Richard Ellis’s Phoenix office two years ago to run his own consulting and training firm. He started his real estate career in 1980 as an industrial broker in Grubb & Ellis’ Phoenix office, which he then ran in the mid 1990s. Bolton took over the helm of CB Richard Ellis’ Phoenix office in 1999. “We are basically building a new office,” … read the rest of this post
More money for foreclosure help in Arizona
A dditional help for Arizona homeowners facing foreclosure is on the way. About $1.3 million from a consumer fraud settlement with Countrywide Home Loans is now being distributed to 12 housing non-profits across the state. The money will go towards hiring more counselors to help homeowners facing foreclosures. “It is our hope that these settlement funds will have a positive impact on families throughout the state who are in great need of counseling assistance to help them stay in their homes,” said Arizona Attorney General Terry Goddard.“ The problem is so acute that additional staff can make a big difference." The multi-state consumer fraud … read the rest of this...