An Amtrak Station Might Be Coming to Phoenix

By Jamie Landers | Arizona Republic Will an Amtrak stop be coming to Phoenix for the first time since its last train left the station nearly a quarter of a century ago? Time will tell, but a proposed map of expanded service released by the passenger train service this week includes Phoenix for the first …

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Luxury Homes Selling Quickly at The Phoenician

By Angela Gonzales | Phoenix Business Journal Homes at a new residential community on what formerly was a golf course at The Phoenician are selling like hot cakes. Scottsdale-based Cullum Homes and Canada-based Replay Destinations are seeing success at the new Ascent at The Phoenician community, where they are building luxury condominiums and custom homes. …

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Short-Term Rental Senate Bill Dies in Arizona House

By Howard Fischer | Daily Independent State lawmakers quashed the last remaining measure to rein in short-term vacation rentals on April 1, concluding that it did so little as to not be worth the effort. Senate Bill 1379 would have allowed communities to impose fines on owners who fail to provide information for police and …

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Phoenix Has Highest ‘Bottom-Tier’ Sales Rate On New Homes

By Mary Salmonsen | BUILDER Online New-home sales are up by 35% YOY as of February—considering both the change in sales rate, which ties in supply and demand issues, and the change in total new-home orders. Jacksonville has the highest YOY change in the Zonda New Home Pending Sales Index for large metros at 80%, …

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Old Town Scottsdale Remains King

By Corina Vanek | Phoenix Business Journal All eyes remain on Old Town as a prime employment and redevelopment area in Scottsdale, even as other parts of the city, including the Scottsdale Airpark and the McDowell Road Corridor, emerge as heavy-hitters for attracting new development. Stockdale Capital Partners, led by Managing Principal Shawn Yari, has …

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REALTOR® Warning About Texted Offers to Buy Homes

By Brent Ruffner | Daily Independent Owning a home in the Valley often means getting a pesky, annoying text message from an unknown someone wanting to buy it. A top official from the Arizona Association of Realtors® has, too. “I receive them myself,” said Arizona Realtors® President-Elect Gary Nelson. While the practice may skirt a …

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Phoenix Named a Top Global Luxury Home Market

By Angela Gonzales | Phoenix Business Journal Phoenix was named a top luxury real estate market to watch in a new report by Coldwell Banker Global Luxury. Phoenix was identified along with Denver and Dallas as secondary markets on the rise in the new report, called The Report: 2021 Global Luxury Market Insights. Chris Karas …

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Arizona Landlords Got Grants, Filed Eviction Notices Anyway

By Jessica Boehm, Catherine Reagor & Ralph Chapoco | Arizona Republic Arizona landlords who received money from a state program that aimed to prevent evictions during the COVID-19 pandemic filed nearly 2,500 eviction notices during the pandemic, an Arizona Republic investigation found. Gov. Doug Ducey’s office launched the Arizona Rental Property Owner Preservation Fund in …

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More Valley Home Buyers Looking for Multigenerational Living Space

By Angela Gonzales | Phoenix Business Journal A tight housing supply during the coronavirus pandemic is causing home shoppers to look for more affordable ways to get parents, grandparents and grandchildren all together under one roof. Building a casita in the backyard of an existing home is one way to go, but each city has …

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Short Supply of Homes Can Result in Risky Contract Concessions

If you missed our March 17 virtual Happy Hour (VHH), you missed news from Scottsdale Director of Transportation Mark Melnychenko and this Market Update from Fletcher Wilcox. Our next VHH is April 14, 2021; more info here and registration here. An extremely low supply of residential homes for sale, combined with an enormous oversupply of …

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