Phoenix new home sales up slightly
T he federal tax credit helped new home sales across metropolitan Phoenix increase enough in April to beat last year’s pace. There were 823 new home sales in metro Phoenix last month, reports the Phoenix Housing Market Letter. That compares to 789 in April 2009. It’s the first month this year that new homes sales have topped last year’s closings. New home building in the region slowed last month as builders prepared for demand from the tax credit to wind down. There were 604 single-family permits issued in April, compared to 908 in March of this year. Home purchases have to close by June 30th … read the rest of this post
Metro Phoenix urban redevelopment test: Discovery Triangle
D iscovery Triangle, metro Phoenix’s urban-redevelopment experiment, lost a city when Scottsdale pulled out last month. But supporters quickly redrew the project’s boundaries and are moving forward with plans to create a regional business, housing and recreation hub to draw new companies and residents as well as supporting those already there. The triangle, stretching between Phoenix, Tempe and now the Scottsdale line, is a test for those who want to reverse the region’s growth patterns from developing on the fringes to redeveloping within the area’s core. More than three years of planning has gone into the 16,000-acre triangle. The growth hub’s supporters want to … read the rest of this...
Arizona is one of U.S.'s most transient states
A new study from Movers.com found Arizona ranked no. 8 for the number of people moving in and out of the state during 2009. California ranked no.1 one with the most moves, according to the online relocation site. That state’s population remained flat because about the same number of people moved in as moved out. Arizona’s moves were a little different with slightly more people moving in than out. Here’s the firm’s list of most transient states 1. California 2. Florida 3. Texas 4. New York 5. Georgia 6. Illinois 7. Virginia 8. Arizona … read the rest of this post
Latest loan modification report card
I n April, another 68,000 U.S. homeowners worked out permanent loan modification deals with their lenders, according to the latest report from the U.S. Treasury Department. That brings the total to about 300,000 homeowners receiving permanent loan modifications. April’s rate is a 13 percent increase from the number of permanent loan modifications in March. But a problem among Phoenix-area homeowners is that the trial loan modifications aren’t turning into permanent changes to their mortgage payments. The number of homeowners walking away or considering it due to failed loan modifications is increasing, say Phoenix market watchers. I receive more emails and comments each week from … read the rest of this...
Downtown Phoenix's ASU campus next topic for Urban Land
D owntown Phoenix’s evolution, thanks to Arizona State University’s newish campus in the area, will be the topic for the next Urban Land Arizona event. Former Dean of ASU’s College of Design, Wellington "Duke" Reiter will lead the discussion "Town Gown: Past, Present & Future of ASU Downtown Campus." He led the campus’s development before leaving to go back to his hometown Chicago two years ago to become president of the School of Art Institute of Chicago. But Reiter is back in Phoenix. He resigned from the Chicago school last month. Maybe he will talk about his new role in Phoenix at the ULI Arizona … read the rest of this post