Scottsdale City Council Cracks the Door On Temporary Housing

By Delarita Ford | Daily Independent There is no disputing the need for temporary housing, but there was a dispute about how to properly address the issue as some elected Scottsdale officials point to a convoluted problem. This conversation was prompted by a newly-formed East Valley (Homeless Partnership) consisting of representatives of the state of …

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‘Get Your Nest’ Home Buying App Launches in Scottsdale

By Angela Gonzales | Phoenix Business Journal The Valley’s hot housing market is creating a buzz among residential real estate brokers, and more brokerages are expanding to metro Phoenix as a result. New York-based Real Brokerage inc. and Virginia-based Nest Realty are among those setting up shop in the Valley, while a local brokerage called …

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Scottsdale Begins Tracking Down 1,000 Short-Term Rental Owners

By Melissa Rosequist | Scottsdale Independent Scottsdale’s new Short-Term Rental Working Group is halfway through its six planned meetings, with information and work already flowing from the municipal committee. During the past three weeks, two city employees have identified 1,000 short-term rental locations in violation of contact or transaction privilege tax licensing requirements. The working …

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Maricopa County Supervisors Cut Property Taxes

By Mark Carlisle | Daily Independent The Maricopa County Board of Supervisors cut the county’s share of property taxes last week and tentatively approved a $324 billion budget for the upcoming fiscal year. The board cut the county’s property tax levy by 5.5 cents per $100 of assessed value. For a homeowner with property assessed …

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Phoenix Home Price Growth Tops the Nation at 20%

By Angela Gonzales | Phoenix Business Journal Phoenix home price growth reached a whopping 20% in March, leading the nation for the 22nd consecutive month, according to the latest results of the S&P CoreLogic Case-Shiller Indices. With the national average now 13.2%, San Diego came in second, with a year-over-year price gain of 19.1%, followed …

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Phoenix Is Turning Vacationers Into Residents

By Amy Gamerman | The Wall Street Journal Elliot Swart spent his last day in Boston in June packing up his Jeep Wrangler for a four-day, one-way road trip to Phoenix. Mr. Swart had been renting a one-bedroom apartment in the Prudential Center, which also was where 3Derm, the medical-software startup he co-founded, was based. …

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Arizona’s Retail Performance Could Predict How Industry Rebounds

By Brandon Brown | Phoenix Business Journal The Macerich Co., which owns some of the largest shopping malls and retail centers in the Valley and across the country, is hoping its Arizona portfolio will be a crystal ball to how the retail industry will bounce back after the Covid-19 pandemic. Because of fewer government-imposed Covid-related …

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If Maricopa County was a State, Where Would It Rank in Net Population Increase?

By Fletcher Wilcox | Grand Canyon Title Agency On May 4, the U.S. Census Bureau released its 2020 county population estimates. According to the data, Maricopa County had the largest population increase out of all counties in the United States — increasing by 86,820 for an average of 238 people per day. This was the …

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$1.5M Cave Creek Shopping Center Renovation Nears Completion

By Corina Vanek | Phoenix Business Journal After making his firm’s first real estate investment in the middle of the Covid-19 pandemic, David Malin is nearing the end of a $1.5 million renovation to the Cave Creek shopping center. Malin, founder of Scottsdale Development Partners, bought the Shops at Dynamite Creek in Cave Creek for …

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Joint Venture Investing in Metro Phoenix Single-Family Rentals

By Angela Gonzales | Phoenix Business Journal Two out-of-state real estate firms formed a $1 billion joint venture to acquire and renovate single-family rental homes across the western United States, with big plans for Arizona. Denver-based Atlas Real Estate and San Francisco-based DivcoWest are targeting high-growth states, including Arizona, Colorado, Idaho, Nevada and Utah. Vincent …

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