Scottsdale Anti-Discrimination Ordinance Heads for Council Vote

By Melissa Rosequist | Scottsdale Independent It has been a long and winding road, but Scottsdale appears to have finally reached consensus that an anti-discrimination ordnance belongs embedded within city codes. According to city officials, as city ordinances are written now, residents can be denied service or housing in Scottsdale based on such factors as …

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Industry Experts Offer Predictions on Valley Residential Market

By Angela Gonzales | Phoenix Business Journal The skyrocketing growth in the Valley’s residential real estate market is expected to continue through 2021, as homebuilders furiously buy land to build more homes to keep up with insatiable demand. The Phoenix Business Journal recently invited some of the Valley’s top real estate experts for a recent …

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Scottsdale Builder’s Home Prices Jump One Month After Opening

By Angela Gonzales | Phoenix Business Journal Homes are selling so quickly at the Lakes at Rancho El Dorado that prices are now in the high $200,000s, up from the mid $200,000s when Scottsdale-based Meritage Homes Corp. announced the opening a month ago. “Price increasing is due to demand, but more so rapidly increasing building …

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2021 Applications Being Accepted for 40 Under 40 Awards

Since 2015, the Scottsdale Area Association of REALTORS® (SAAR) has recognized outstanding members with its 40 Under 40 Awards. Nominations are not required, but eligible members must complete and submit an individual or team application by 5 p.m. on April 16, 2021. Winners will be honored at a virtual awards presentation in June 2021. Individual …

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Phoenix Tops US Cities with Highest Number of Eviction Filings

By Angela Gonzales | Phoenix Business Journal Phoenix topped the list of cities across the nation with the most eviction filings during the coronavirus pandemic, according to a new study by the United Way. The report, conducted by the Eviction Lab at Princeton University, shows Phoenix had 16,685 eviction filings in the past year during …

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Out-of-State Investors Bullish On Metro Phoenix Apartments

By Angela Gonzales | Phoenix Business Journal Out-of-state investors are swooping into town to pay big bucks for apartments as the landscape gets even more competitive. Salt Lake City-based Millburn & Co. paid $178.5 million for the 832-unit Heritage at Deer Valley, making it the highest sale price for a single multifamily community in Phoenix …

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Rising Rents, Lower Credit Scores in Phoenix — What’s Next?

By Angela Gonzales | Phoenix Business Journal While year-over-year apartment rents continue to rise in metro Phoenix, the credit scores of renters are dropping. Renters in Phoenix have an average credit score of 613 in 2020, down from 619 in 2019 and 617 in 2018, according to a new study from RentCafé. Looking at the …

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Commercial Investments Dip 20 Percent in Phoenix Metro

By Corina Vanek | Phoenix Business Journal Despite a surge in the fourth quarter, the COVID-19 pandemic caused a significant decline in real estate investment in the Phoenix metro in 2020, which saw a 20% decline from the previous year. In total, investment reached $9 billion in 2020, with the lion’s share of the money, …

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Scottsdale Homebuilder Poised to Open 150 New Communities in U.S.

By Angela Gonzales | Phoenix Business Journal Taylor Morrison Home Corp. is on track to open 150 new communities in its markets nationwide, including in metro Phoenix. “We have a good appetite for new land,” Sheryl Palmer, chairman, president and CEO of the Scottsdale-based homebuilder, told analysts during a fourth quarter earnings call on Feb. …

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Window Closing for Good Deals as Home Prices, Mortgage Rates Rise

By Angela Gonzales | Phoenix Business Journal It’s no secret home prices are on the rise in metro Phoenix, but an upward tick in mortgage rates could close the window on a good deal for home shoppers. Despite rising home costs in the Valley, homebuyers have been taking advantage of record low mortgage interest rates …

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