Report: Arizona Housing Deficit Up 1,377% in 10 Years

By Angela Gonzales | Phoenix Business Journal Arizona’s housing deficit has increased 1,377% since 2012 — representing 122,683 homes — according to a report by Washington, D.C.-based Up for Growth. The report — which ranks Arizona eighth in the nation in terms of the severity of its housing deficit — calls for a need to …

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The Water Wars Come to Rio Verde

By Rachel Monroe | The New Yorker The best gossip you’re likely to hear in Rio Verde Foothills, Arizona, is about water. Last month, when a few residents stopped by Karen Nabity’s sprawling, high-ceilinged home, the talk quickly turned to wells. “My neighbor two lots to the east of me just got done putting in …

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Scottsdale & Paradise Valley Plan New STR Licensing, Ordinances

By Melissa Rosequist | Scottsdale Independent Scottsdale and Town of Paradise Valley officials say they plan to implement licensing procedures for short-term rental properties within their municipal bounds following a newly-approved law. Senate Bill 1168, signed by Gov. Doug Ducey on July 6, goes into effect on Sept. 24. Both Scottsdale and Paradise Valley officials …

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New Co-Living Apartment Complex Makes Phoenix More Affordable

By Corina Vanek | Arizona Republic Yhara Quiroz wanted to move to downtown Phoenix, but decided it wasn’t a good time to buy a place with the area’s soaring costs for houses and condos. She toured X Phoenix, a new apartment complex at Second Avenue and Monroe Street, planning to rent a one-bedroom apartment. She …

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New Arizona Law Raises the Bar for Forced Condo Sales

By Nick Phillips | Arizona Capitol Times In 2010, as the housing market was crashing and the value of their Tucson home sank, Rekha Tataria and her husband made an investment. Acting on the advice of a relative, the couple bought a condominium unit on the southern end of Phoenix’s Arcadia neighborhood, planning to rent …

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Lack of Housing Supply May Wreck Phoenix Economy

By Melissa Rosequist | Daily Independent Low inventory and high housing prices are not just a real estate issue, one economist says, as the threat of economic development consequences across the Valley of the Sun grows more concerning. However, one local Realtor says the housing inventory is bouncing back quickly and the Valley’s housing market …

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Scottsdale’s Affordable Housing Situation is Worst in Metro Phoenix

By Sam Kmack | Arizona Republic Scottsdale’s housing shortage may be far worse than city figures suggest, with thousands fewer units coming down the chute than was estimated and the city’s workforce being priced out of the market faster than anywhere else in the Valley, according to a recently released analysis. The study from Elliott …

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Homebuilder Incentives Reemerging for Valley REALTORS®

By Angela Gonzales | Phoenix Business Journal Tim Morris, an associate broker with HomeSmart, said he’s starting to seen an increase in incentives for REALTORS®. “Large builders are starting to recognize the need for resale REALTORS® again,” he said. When the market was in a frenzy, homebuilders didn’t need Realtors to help sell their new …

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High Street Developers Plan Hotel, Office Space, Parking Garage

By Corina Vanek | Arizona Republic The owners of High Street in northeast Phoenix are eyeing expansion in an area north of Loop 101 near Desert Ridge Marketplace that continues to see major construction projects. The owners of the mixed-use center, which includes restaurants, retail, apartments and office space, own five additional acres immediately west …

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Arizona Legislature Passes Bill Allowing Short-Term Rental Permits

By Melissa Rosequist | Daily Independent A new bill has passed the Arizona Legislature giving municipalities authority to issue licenses and permits to short-term rentals. Senate Bill 1168, which passed the Arizona Senate and House of Representatives on June 24, is supported by both the short-term rental industry and local cities. The bill is now …

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