Highlights from Arizona REALTORS® COVID-19 Event

On March 23, Arizona REALTORS® (AAR) 2017 President Paula Monthofer moderated a Facebook Live Event called “Taking Care of Business During the Coronavirus Pandemic”. She was joined by a panel that included PrimeLending Branch Manager Andy Mersiowsky, AAR 2020 President Mary Roberts, Grand Canyon Title Agency VP Fletcher Wilcox, Define Mortgage Solutions Realtor® Relations Manager …

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Window Closing Quickly On Low Mortgage Interest Rates

By Angela Gonzales | Phoenix Business Journal A few weeks ago, mortgage rates were at an all-time low, giving homebuyers a bit of silver lining during this COVID-19 pandemic. But a stampede of homeowners trying to refinance their existing homes overwhelmed mortgage lenders, who didn’t have the personnel to keep up with the applications, said …

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Local Commercial Real Estate Transactions Down, Not Out

By Corina Vanek | Phoenix Business Journal Real estate transactions such as leases and building sales have slowed but not halted in the wake of sweeping business closures due to the novel coronavirus, according to a commercial real estate expert. Jon Rosenberg, designated broker and managing partner of Scottsdale-based LevRose Commercial Real Estate, said he …

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Opportunity Zone Made Scottsdale Entrada Deal ‘Once-In-a-Lifetime’ Project

By Corina Vanek | Phoenix Business Journal Since forming Banyan Residential last year, the Los Angeles company has focused on buying and developing properties in “opportunity zones.” That meant the 33-acre Scottsdale Entrada became the perfect opportunity. The redeveloped Scottsdale Entrada will have an open area where people can walk, ride bike or hold events. …

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Impact of COVID-19 on Real Estate Showings – March 30, 2020

Updated March 30, 2020 As demonstrated for Arizona below, ShowingTime reports that “showing activity has fallen off from the same period in 2019 as the impact of COVID-19 continues to grow.” If we isolate Scottsdale, Carefree, Cave Creek, Desert Hills and Fountain Hills, we see slight week-to-week declines in low/high-end single family-detached home showings, but …

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Coronavirus Creates Homebuyers’ Opportunity

By Angela Gonzales | Phoenix Business Journal The coronavirus pandemic is causing some homebuilders to close their sales offices in the Valley at a time when low mortgage interest rates are creating a window for homebuyers. Given the current COVID-19 pandemic, Scottsdale-based Taylor Morrison Home Corp. has closed its sales offices, but will conduct business …

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Town Council of Cave Creek Revises Sign Ordinance

On January 21, the Town Council of Cave Creek adopted Ordinance O2019-02, a revision of its Zoning and Chapter 9 Signage Ordinances that went into effect on February 20, 2020.1 The Scottsdale Area Association of REALTORS® (SAAR) Government Affairs Committee closely monitored and weighed in on proposed ordinance revisions by: Communicating with REALTOR® Champions on …

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Applications Being Accepted for 40 Under 40 Awards 2020

Since 2015, Scottsdale REALTORS® has recognized outstanding members with its annual 40 Under 40 Awards. Nominations are no longer required, but interested and eligible members must complete and submit individual or team applications. Individual Applicants: Must be current members of the Scottsdale Area Association of REALTORS® Must not have been a 40/40 recipient for three …

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Why Phoenix keeps attracting Southern California residents

By Angela Gonzales | Phoenix Business Journal Affordable rental rates and home prices in metro Phoenix continue to attract Southern California residents in droves, according to a report by the University of Southern California Lusk Center for Real Estate. While it’s no surprise to local real estate experts, the USC Casden Multifamily Forecast shows how …

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Phoenix Home Price Gains Now Highest In the U.S.

By Angela Gonzales | Phoenix Business Journal It’s no secret builders can’t construct homes and apartment units fast enough to keep pace with demand in metro Phoenix. Now more homebuilders are flocking to a hybrid model — single-family rental products — in an attempt to quench the demand for new residences. The Valley currently has …

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