Phoenix Arizona


Tempe City Council hosts affordable housing summit by azhttp

Nikki Ripley

Communication and Media Relations Director City of Tempe

480-350-8846

Tempe City Council hosts affordable housing summit

TEMPE, Ariz. – Tempe community members will gather Saturday, Oct. 20, for a

half-day summit on affordable housing that is meant to spur discussion and

solutions for this pressing need.

City Councilmember Shana Ellis will lead the forum, which takes place from

8:30 a.m. to noon at the Tempe Public Library’s lower level Program Room,

3500 S. Rural Rd. Ellis is Chair of the City Council’s Transportation and

Affordable Housing Committee, which also includes Vice Mayor Hut Hutson as a

member.

Councilmember Ellis will present a current picture of the city’s affordable

housing projects, policies and needs. The city’s non-profit and faith-based

partners also will present local affordable housing projects. A roundtable

discussion will solicit ideas for creating partnerships and pooling

resources to create a workable affordable housing solution in Tempe.

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Greater Phoenix resale numbers tracking near historical norms by quotes

Greater Phoenix resale numbers tracking near historical norms

MESA, Arizona —February, like January, tends to be a poor indicator of the coming year.  In addition, it is a short month, so it is typically a low month for sales activity, frequently being the lowest month of the year. For February, 4,280 homes were recorded sold, in contrast to 4,520 for January, 5,460 for a year ago and 7,935 transactions in 2005. This was the lowest February since 4,090 homes were recorded sold in 2003, which was the lowest month for 2003. So far in 2007 a total of 8,800 homes have been recorded sold in contrast to 10,715 in 2006 and 17,290 in 2005 for the same time period.

While the resale market is tracking near historical norms, the overall health of the market will become more evident in the next few months, which are traditionally the strongest for the resale market, according Jay Q. Butler, director of Realty Studies at Arizona State University’s Polytechnic campus.

“If 2007 is to show some improvement, listings should be increasing with a corresponding improvement in buyer activity.  However, the activity levels should be well below those of the last few years, because the current market lacks the market frenzy to own and/or invest at almost any price and reasoning,” said Butler. 

If the international economy and political situation remains stable, the general expectation is that the 2007 resale housing market should be a good year, but no where near the records.

Much like the ever-increasing sales activity of the last few years, the rapid improvement in prices has disappeared. The median home price has been very stable at $260,000, which is the same as January, but down from last year’s $265,000.  For February 2007, 16 percent of all recorded sales were for homes priced from $125,000 to $199,999, 43 percent for $200,000 to $299,999 and 39 percent for homes priced more than $300,000.  Last year, the distribution was 19 percent of all recorded sales were for homes priced from $125,000 to $199,999, 40 percent for $200,000 to $299,999 and 37 percent for homes priced more than $300,000.

The increase in the higher price levels demonstrates the importance of the move-up market in a slowing market. Since the greater Phoenix area is so large, the median price can range significantly from $687,500 ($665,000 in January) in North Scottsdale to $139,500 ($148,000 in January) in the Sky Harbor area of the city of Phoenix.

Since home prices have declined slightly from a year ago, the monthly payment of $1,300 is down from last year’s $1,320. Even though mortgage interest rates have been declining for the last few months, limited home appreciation and household income continues to raise concern about the ability of some homeowners to maintain their homes. This may be especially evident for those that have used some of the more creative financing instruments, such as option payment plans and initially low-interest-rate adjustable mortgages. 

Because townhouse/condominium units are popular with seasonal visitors, it is not unusual to observe an improvement in February. Thus, February had 1,050 sales, in comparison to 850 for January and 1,260 sales for a year ago. The median home price has been very stable at $175,000, which is also the same as a year ago.

The median square footage for a single-family home recorded sold in February 2007 was 1,670 square feet, which is larger than the 1,620 square feet for a year ago. The larger size further demonstrates the role of the move-up sector in the local housing market. In the townhouse/condominium sector, the median square footage was 1,085 square feet, which is smaller than the 1,135 square feet reported a year ago.

  1. In contrast to February 2006, recorded sales in the city of Phoenix decreased from 1,645 sales to 1,215 sales, while the median sales price increased to $228,470 from $213,750 for a year ago. Since Phoenix is a geographically large city, the median prices can range significantly such as $139,500 in the Sky Harbor area to $305,000 ($353,500 in January) in the Union Hills area. The townhouse/condominium sector decreased from 425 to 355 sales while the median price decreased from $158,500 to $150,000.
  2. While the Scottsdale resale home market declined from 400 to 355 recorded sales, the median sales price increased from last year’s $575,000 to $600,000. The median resale home price is $687,500 ($665,000 in January) in North Scottsdale and $321,250 ($308,000 in January) in South Scottsdale. The townhouse/condominium sector in Scottsdale also decreased from 235 to 220 sales and the median sales price decreased from $285,000 to $254,950.
  3. The Mesa resale housing market declined from 655 to 460 sales, while the median price fell from $245,000 to $238,500 ($240,000 in January). The townhouse/condominium sector also fell from 190 to 140 sales, while the median home price increased from $155,000 to $161,400.
  4.                

  5. Glendale decreased from 435 to 300 sales and the median sales price decreased from $250,000 to $242,850 ($238,500 in January). The townhouse/condominium sector also slowed from 65 to 50 sales, while the median sales price decreased from $140,000 to $139,000.

       

·       For the city of Peoria, the resale market decreased from 275 sales to 235 sales, with the median price moving from $275,000 to $270,000 ($260,000 in January). The townhouse/condominium sector remained at 25 sales and the median price increased from $169,900 to $184,000.

  1. In comparison to a year ago, the Sun City resale market remained at 100 sales, while the median sales price decreased to $204,500 from $216,000. As resale activity in Sun City West stayed at 55 sales, the median sales price decreased from $243,500 to $230,000. The townhouse/condominium market in Sun City declined from 60 to 45 recorded sales, while the median home price decreased from $146,450 to $129,000. In Sun City West, activity improved from 15 to 30 sales and the median sales price decreased from $180,000 to $166,000.
  2. The resale market in Gilbert decreased from 290 to 230 sales, with the median sales price decreasing from $341,000 to $307,500 ($319,000 in January). The townhouse/condominium market fell from 20 to 15 sales as the median sales price decreased from $213,000 to $205,500.

  • For the city of Chandler, the resale market fell from 400 to 280 recorded sales, while the median sales price improved from $299,900 to $307,500 ($305,000 in January). The townhouse/condominium market declined from 65 to 50 sales and the median sales price declined from $183,600 to $170,830.

§       The resale market in Tempe increased from 120 to 135 sales, while the median sales price decreased from $300,000 to $280,000 ($282,950 in January). The townhouse/condominium sector slowed from 90 to 50 sales and the median sales price decreased from $185,000 to $182,500.

  1. The highest median sales price was in Paradise Valley at $1,740,000 with a median square foot house of 3,840 square feet.

·       In the West Valley, the following communities represent 9 percent of the resale market.

o       Avondale fell from 110 to 70 sales, with the median price moving from $261,000 to $242,080 ($243,950 in January).

o       El Mirage decreased from 60 to 45 sales, and the median home price went from $221,000 to $206,000 ($202,000 in January).

o       Goodyear declined from 80 to 65 sales, with the median price decreasing from $289,000 to $270,000 ($260,000 in January)

o       Surprise increased from 200 to 215 sales, while the median price decreased from $260,750 a year ago to $245,000 ($247,235 in January).

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Realty Studies

Realty Studies is associated with the Morrison School of Management and Agribusiness at Arizona State University’s Polytechnic campus. Realty Studies collects and analyzes data concerning real estate in the greater Phoenix metropolitan area. It is a comprehensive and objective source of real estate information for private, public and governmental agencies.  Its director, Dr. Jay Q. Butler, may be reached at (480) 727-1300 or e-mail him at Jay.Butler@asu.edu.

ASU’s Polytechnic campus, located in southeast Mesa, offers bachelor and graduate degree programs, unparalleled by other Arizona state universities, through the Morrison School of Management and Agribusiness, East College, the College of Science and Technology, and the School of Educational Innovation and Teacher Preparation. Visit us online at http://www.poly.asu.edu.



Pine Towers Apartments to Receive a Makeover by quotes

 Pine Towers Apartments to Receive a Makeover Thanks to Annual Community Project The city of Phoenix Housing Department and the Arizona Association of Community Managers (AACM) are partnering on an annual community project to make facility improvements at the Pine Towers senior housing complex.

From 8 a.m. to 1 p.m. Saturday, March 3, city Housing staff and AACM representatives will be enhancing the center courtyard area, installing six sidewalks, trimming and pruning trees and shrubbery, top dressing granite, mowing lawns and installing plants.The property receiving the community makeover is located at 2936 N. 36th St. and is owned and operated by the city of Phoenix for elderly and disabled residents.

AACM is a statewide organization, established to represent the interests of community association management companies throughout the state of Arizona and to promote professionalism in the community association management industry. Membership in AACM requires that the member firm and its representatives demonstrate the highest levels of honesty, integrity and capability to their clients, other firms, service providers and AACM. For more information about this project contact AACM at 602-743-4908.The city of Phoenix Housing Department provides and promotes diversified housing opportunities and enriches the quality of life for low -to moderate-income families, seniors, and persons with disabilities by developing, managing, and subsidizing affordable housing.

The city owns approximately 3,500 units of public and other affordable housing and manages over 5,200 housing choice vouchers. These programs provide homes to more than 25,000 Phoenix residents.To learn more about the city’s housing programs, visit phoenix.gov/housing.



Inaugural Downtown Phoenix Home & Loft Tour by quotes

Here is an interesting E-mail we got inviting us to tour the new Downtown Phoenix homes and lofts.

Inaugural Downtown Phoenix Home & Loft Tour

The inaugural Downtown Phoenix Home & Lof Tour is
Saturday, September 30, 10 a.m. to 4 p.m.

As promised, each day this week we will release details of
homes on the tour. Here are a few to whet your appetite!

Tickets are $20 and include admission to the Urban Affair … purchase them here.

>>> Stadium Lofts at Buchanan and 2nd Street was a pioneering development in downtown’s warehouse district back in 2003.

Just two blocks south of the then American West Arena, the 4-story brick building was considered to be in the middle of nowhere. And now? The Summit at Copper Square condo tower is under construction and Jackson St is prepping for a $400 million makeover.

Stadium Lofts consists of 31 units ranging in size from 1,200 to over 2,000 square feet. Ten to 22-foot ceiling heights give way to city views. Spiral ductwork and exposed brick walls are coupled with granite countertops and wood floors.

>>> The “Willetta 9” residences are on Willetta near 7th Street and were designed by architect Michael Underhill.

“This urban loft floor plan is unique with European kitchens and many modern details. Convenient elements include private garages, private yards and studio spaces. Creative flex spaces can conform to your needs. Concrete floors, beam ceilings, modern bathroom design, and contemporary kitchens are some of the perfect finishing touches.” ~ AZarchitecture.com

A 1,100 square foot, one bedroom, one bath unit is now on the market for $365,000.

>>> Palm Lane Lofts at 325 East Palm Lane were built in 2004 by architect Ian Baldinger. Units originally started selling at $400,000 and are now selling-if you can get one-around $650,000 (or $430/SF).

The 3-story row homes boast cherry Italian cabinets by Diemme, black granite countertops, designer appliances by Bosch, fixtures by Danze, and “expressive aluminum and steel” details.

“Great architecture inside and out.” ~ selection committee comments

>>> Unique to the tour is a single family bungalow just off Roosevelt Row-the burgeoning arts/retail and live/work corridor north of Copper Square.  The modest studio/gallery at 918 North 6th Street is shared by a young couple who live the artiste’s life we all partake of once per month on First Fridays.

“Gallery space worth seeing, great art and workshop area.” ~ selection committee

This bus stop along the Tour includes an Artisan Village live/work condo as well as all the retailers along Roosevelt Row. Don’t miss this one!

Tomorrow: “Only at Orpheum”
Five stunning units in the exquisitely restored and renovated art deco Orpheum Lofts at 114 West Adams.

Wednesday: “All About Artisan”
We will feature the three uber-urban projects of developer Eric Brown: Artisan Village, Artisan Parkview, and Artisan Lofts on Central.

Thursday: “Four for the Future” will feature four projects currently under construction: 44 Monroe, Portland Place (at left), the Studios @ 636, and the new Phoenix Convention Center, the home of Urban Affair.

And Friday’s finale? What’s a house tour without a dramatic ending?

An iconic retail landmark is changing hands … what will become of My Florist now that Mr. Lacy has sold the building? What will become of Willow Bread? And the cafe/restaurant?

Don’t fret just yet … Mr. Lacy has generously agreed to be stop #6 on the Tour! His flawlessly decorated loft above the restaurant is an absolute MUST SEE!



Fair Housing Workshop by quotes

 Fair Housing Workshop

Learn more about fair housing practices and laws at a free two-hour workshop from 9 a.m. to noon Thursday, Aug. 17, at Burton Barr Central Library, 1221 N. Central Ave.

The workshops, sponsored by the city of Phoenix Equal Opportunity Department, will explain how fair housing practices apply to apartments, houses, condominiums and mobile home parks.

It is illegal for housing providers to discriminate against tenants, rental applicants or customers on the basis of race, color, religion, sex, national origin, disability or familiar status. Housing providers include landlords, leasing agents, realtors, property managers and others.

Examples of housing discrimination include refusing to show an apartment, condominium or house to an interested minority applicant; having an “all adult” complex, except for senior housing; and building or designing an apartment complex that is not handicap accessible.

Registration is suggested. Call 602-262-7486/voice or 602-534-1557/TTY to register.