Saturday, February 25, 2012

Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased by several hundred between 2010 and 2011, but far more cases were resolved before the city took them to court.

According to the Phoenix Planning and Development Department, the number of complaints rose to 1,446 from 1,135 between 2010 and 2011. The number of court cases dropped from 54 to six.

About half the increase in complaints can be attributed to a home appraiser who noted differences between homes he inspected and public records, said Mo Glancy, the department's deputy director.

Many of the rest are the result of "house flippers," investors who buy and remodel foreclosed homes without the necessary permits, he said.

About two-thirds of the violations were resolved in both years, simply by notifying the project owner who followed through with the required permits, Glancy said. Most of the others could not be verified, did not involve an active project or were the result of neighbor or family disputes, he said.

Glancy said responsibility for permit enforcement switched from the Neighborhood Services Department to the Planning and Development Department in August 2010, accounting for the drop in court cases.

"It is hard to get a resolution through the court," Glancy said. "We have tried to make resolution easy" by working with homeowners and contractors.

Phoenix issued about 20,000 building permits last year, about two-thirds of them for residential projects.

Most violations are the result of confusion about the requirements, which are in place to protect public health and safety, Glancy said. The city does not have enough personnel to check all projects but will follow up on complaints.

The cases that go to court are the most serious violations, Glancy said. In one case, a wedding facility went into operation without the needed permits, even though the owner had been alerted. That case is still in the works.

by Michael Clancy - Feb. 23, 2012 10:00 PM The Republic | azcentral.com



Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased by several hundred between 2010 and 2011, but far more cases were resolved before the city took them to court.

According to the Phoenix Planning and Development Department, the number of complaints rose to 1,446 from 1,135 between 2010 and 2011. The number of court cases dropped from 54 to six.

About half the increase in complaints can be attributed to a home appraiser who noted differences between homes he inspected and public records, said Mo Glancy, the department's deputy director.

Many of the rest are the result of "house flippers," investors who buy and remodel foreclosed homes without the necessary permits, he said.

About two-thirds of the violations were resolved in both years, simply by notifying the project owner who followed through with the required permits, Glancy said. Most of the others could not be verified, did not involve an active project or were the result of neighbor or family disputes, he said.

Glancy said responsibility for permit enforcement switched from the Neighborhood Services Department to the Planning and Development Department in August 2010, accounting for the drop in court cases.

"It is hard to get a resolution through the court," Glancy said. "We have tried to make resolution easy" by working with homeowners and contractors.

Phoenix issued about 20,000 building permits last year, about two-thirds of them for residential projects.

Most violations are the result of confusion about the requirements, which are in place to protect public health and safety, Glancy said. The city does not have enough personnel to check all projects but will follow up on complaints.

The cases that go to court are the most serious violations, Glancy said. In one case, a wedding facility went into operation without the needed permits, even though the owner had been alerted. That case is still in the works.

by Michael Clancy - Feb. 23, 2012 10:00 PM The Republic | azcentral.com




Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased by several hundred between 2010 and 2011, but far more cases were resolved before the city took them to court.

According to the Phoenix Planning and Development Department, the number of complaints rose to 1,446 from 1,135 between 2010 and 2011. The number of court cases dropped from 54 to six.

About half the increase in complaints can be attributed to a home appraiser who noted differences between homes he inspected and public records, said Mo Glancy, the department's deputy director.

Many of the rest are the result of "house flippers," investors who buy and remodel foreclosed homes without the necessary permits, he said.

About two-thirds of the violations were resolved in both years, simply by notifying the project owner who followed through with the required permits, Glancy said. Most of the others could not be verified, did not involve an active project or were the result of neighbor or family disputes, he said.

Glancy said responsibility for permit enforcement switched from the Neighborhood Services Department to the Planning and Development Department in August 2010, accounting for the drop in court cases.

"It is hard to get a resolution through the court," Glancy said. "We have tried to make resolution easy" by working with homeowners and contractors.

Phoenix issued about 20,000 building permits last year, about two-thirds of them for residential projects.

Most violations are the result of confusion about the requirements, which are in place to protect public health and safety, Glancy said. The city does not have enough personnel to check all projects but will follow up on complaints.

The cases that go to court are the most serious violations, Glancy said. In one case, a wedding facility went into operation without the needed permits, even though the owner had been alerted. That case is still in the works.

by Michael Clancy - Feb. 23, 2012 10:00 PM The Republic | azcentral.com




Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased by several hundred between 2010 and 2011, but far more cases were resolved before the city took them to court.

According to the Phoenix Planning and Development Department, the number of complaints rose to 1,446 from 1,135 between 2010 and 2011. The number of court cases dropped from 54 to six.

About half the increase in complaints can be attributed to a home appraiser who noted differences between homes he inspected and public records, said Mo Glancy, the department's deputy director.

Many of the rest are the result of "house flippers," investors who buy and remodel foreclosed homes without the necessary permits, he said.

About two-thirds of the violations were resolved in both years, simply by notifying the project owner who followed through with the required permits, Glancy said. Most of the others could not be verified, did not involve an active project or were the result of neighbor or family disputes, he said.

Glancy said responsibility for permit enforcement switched from the Neighborhood Services Department to the Planning and Development Department in August 2010, accounting for the drop in court cases.

"It is hard to get a resolution through the court," Glancy said. "We have tried to make resolution easy" by working with homeowners and contractors.

Phoenix issued about 20,000 building permits last year, about two-thirds of them for residential projects.

Most violations are the result of confusion about the requirements, which are in place to protect public health and safety, Glancy said. The city does not have enough personnel to check all projects but will follow up on complaints.

The cases that go to court are the most serious violations, Glancy said. In one case, a wedding facility went into operation without the needed permits, even though the owner had been alerted. That case is still in the works.

by Michael Clancy - Feb. 23, 2012 10:00 PM The Republic | azcentral.com




Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased by several hundred between 2010 and 2011, but far more cases were resolved before the city took them to court.

According to the Phoenix Planning and Development Department, the number of complaints rose to 1,446 from 1,135 between 2010 and 2011. The number of court cases dropped from 54 to six.

About half the increase in complaints can be attributed to a home appraiser who noted differences between homes he inspected and public records, said Mo Glancy, the department's deputy director.

Many of the rest are the result of "house flippers," investors who buy and remodel foreclosed homes without the necessary permits, he said.

About two-thirds of the violations were resolved in both years, simply by notifying the project owner who followed through with the required permits, Glancy said. Most of the others could not be verified, did not involve an active project or were the result of neighbor or family disputes, he said.

Glancy said responsibility for permit enforcement switched from the Neighborhood Services Department to the Planning and Development Department in August 2010, accounting for the drop in court cases.

"It is hard to get a resolution through the court," Glancy said. "We have tried to make resolution easy" by working with homeowners and contractors.

Phoenix issued about 20,000 building permits last year, about two-thirds of them for residential projects.

Most violations are the result of confusion about the requirements, which are in place to protect public health and safety, Glancy said. The city does not have enough personnel to check all projects but will follow up on complaints.

The cases that go to court are the most serious violations, Glancy said. In one case, a wedding facility went into operation without the needed permits, even though the owner had been alerted. That case is still in the works.

by Michael Clancy - Feb. 23, 2012 10:00 PM The Republic | azcentral.com




Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased by several hundred between 2010 and 2011, but far more cases were resolved before the city took them to court.

According to the Phoenix Planning and Development Department, the number of complaints rose to 1,446 from 1,135 between 2010 and 2011. The number of court cases dropped from 54 to six.

About half the increase in complaints can be attributed to a home appraiser who noted differences between homes he inspected and public records, said Mo Glancy, the department's deputy director.

Many of the rest are the result of "house flippers," investors who buy and remodel foreclosed homes without the necessary permits, he said.

About two-thirds of the violations were resolved in both years, simply by notifying the project owner who followed through with the required permits, Glancy said. Most of the others could not be verified, did not involve an active project or were the result of neighbor or family disputes, he said.

Glancy said responsibility for permit enforcement switched from the Neighborhood Services Department to the Planning and Development Department in August 2010, accounting for the drop in court cases.

"It is hard to get a resolution through the court," Glancy said. "We have tried to make resolution easy" by working with homeowners and contractors.

Phoenix issued about 20,000 building permits last year, about two-thirds of them for residential projects.

Most violations are the result of confusion about the requirements, which are in place to protect public health and safety, Glancy said. The city does not have enough personnel to check all projects but will follow up on complaints.

The cases that go to court are the most serious violations, Glancy said. In one case, a wedding facility went into operation without the needed permits, even though the owner had been alerted. That case is still in the works.

by Michael Clancy - Feb. 23, 2012 10:00 PM The Republic | azcentral.com




Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased in 2011

Building-permit complaints in Phoenix increased by several hundred between 2010 and 2011, but far more cases were resolved before the city took them to court.

According to the Phoenix Planning and Development Department, the number of complaints rose to 1,446 from 1,135 between 2010 and 2011. The number of court cases dropped from 54 to six.

About half the increase in complaints can be attributed to a home appraiser who noted differences between homes he inspected and public records, said Mo Glancy, the department's deputy director.

Many of the rest are the result of "house flippers," investors who buy and remodel foreclosed homes without the necessary permits, he said.

About two-thirds of the violations were resolved in both years, simply by notifying the project owner who followed through with the required permits, Glancy said. Most of the others could not be verified, did not involve an active project or were the result of neighbor or family disputes, he said.

Glancy said responsibility for permit enforcement switched from the Neighborhood Services Department to the Planning and Development Department in August 2010, accounting for the drop in court cases.

"It is hard to get a resolution through the court," Glancy said. "We have tried to make resolution easy" by working with homeowners and contractors.

Phoenix issued about 20,000 building permits last year, about two-thirds of them for residential projects.

Most violations are the result of confusion about the requirements, which are in place to protect public health and safety, Glancy said. The city does not have enough personnel to check all projects but will follow up on complaints.

The cases that go to court are the most serious violations, Glancy said. In one case, a wedding facility went into operation without the needed permits, even though the owner had been alerted. That case is still in the works.

by Michael Clancy - Feb. 23, 2012 10:00 PM The Republic | azcentral.com




Building-permit complaints in Phoenix increased in 2011

Report: Upbeat findings for Arizona housing market

A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.
David Wallace/The Republic A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.



Metro Phoenix home prices are up. Fewer inexpensive homes are for sale, and the number of pending foreclosures is down.

The positive housing-market update comes from Arizona State University's newest real-estate report.

It's the first monthly housing analysis from Mike Orr, who was recently named director of the Center for Real Estate Theory and Practice for ASU's W.P. Carey School of Business.

"Single-family home prices overall in the Phoenix area have been moving up since they reached a low point in September," Orr said in his debut monthly housing report.

"Also, looking forward, I expect a declining trend in foreclosures."

Orr also publishes a daily online analysis of Phoenix-area housing indicators called the "Cromford Report."

The median price of all home sales, including new homes, reached $120,500 in January of this year, Orr reports. That compares with $113,166 a year earlier.

The average price per square foot of Valley houses has climbed 3 percent since last year.

There were approximately 8,000 new and used homes sold in January, up from 7,500 in January 2011.

Orr said investors have snatched up the oversupply of homes for sale under $300,000.

"Many people think there's a glut of homes the banks are hiding somewhere, and that may be the case in other markets, but not here in the Phoenix area," he said.

"We've gone through so many foreclosures that the system has been working itself out for about five years."

In January, there were 2,450 single-family foreclosures in both Maricopa and Pinal counties, compared with 4,200 during January 2011, according to the ASU report.

The supply of homes listed for sale in metro Phoenix is down 42 percent from a year earlier.

by Catherine Reagor - Feb. 23, 2012 06:35 PM The Arizona Republic | azcentral.com




Report: Upbeat findings for Arizona housing market

Report: Upbeat findings for Arizona housing market

A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.
David Wallace/The Republic A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.



Metro Phoenix home prices are up. Fewer inexpensive homes are for sale, and the number of pending foreclosures is down.

The positive housing-market update comes from Arizona State University's newest real-estate report.

It's the first monthly housing analysis from Mike Orr, who was recently named director of the Center for Real Estate Theory and Practice for ASU's W.P. Carey School of Business.

"Single-family home prices overall in the Phoenix area have been moving up since they reached a low point in September," Orr said in his debut monthly housing report.

"Also, looking forward, I expect a declining trend in foreclosures."

Orr also publishes a daily online analysis of Phoenix-area housing indicators called the "Cromford Report."

The median price of all home sales, including new homes, reached $120,500 in January of this year, Orr reports. That compares with $113,166 a year earlier.

The average price per square foot of Valley houses has climbed 3 percent since last year.

There were approximately 8,000 new and used homes sold in January, up from 7,500 in January 2011.

Orr said investors have snatched up the oversupply of homes for sale under $300,000.

"Many people think there's a glut of homes the banks are hiding somewhere, and that may be the case in other markets, but not here in the Phoenix area," he said.

"We've gone through so many foreclosures that the system has been working itself out for about five years."

In January, there were 2,450 single-family foreclosures in both Maricopa and Pinal counties, compared with 4,200 during January 2011, according to the ASU report.

The supply of homes listed for sale in metro Phoenix is down 42 percent from a year earlier.

by Catherine Reagor - Feb. 23, 2012 06:35 PM The Arizona Republic | azcentral.com





Report: Upbeat findings for Arizona housing market

Report: Upbeat findings for Arizona housing market

A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.
David Wallace/The Republic A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.



Metro Phoenix home prices are up. Fewer inexpensive homes are for sale, and the number of pending foreclosures is down.

The positive housing-market update comes from Arizona State University's newest real-estate report.

It's the first monthly housing analysis from Mike Orr, who was recently named director of the Center for Real Estate Theory and Practice for ASU's W.P. Carey School of Business.

"Single-family home prices overall in the Phoenix area have been moving up since they reached a low point in September," Orr said in his debut monthly housing report.

"Also, looking forward, I expect a declining trend in foreclosures."

Orr also publishes a daily online analysis of Phoenix-area housing indicators called the "Cromford Report."

The median price of all home sales, including new homes, reached $120,500 in January of this year, Orr reports. That compares with $113,166 a year earlier.

The average price per square foot of Valley houses has climbed 3 percent since last year.

There were approximately 8,000 new and used homes sold in January, up from 7,500 in January 2011.

Orr said investors have snatched up the oversupply of homes for sale under $300,000.

"Many people think there's a glut of homes the banks are hiding somewhere, and that may be the case in other markets, but not here in the Phoenix area," he said.

"We've gone through so many foreclosures that the system has been working itself out for about five years."

In January, there were 2,450 single-family foreclosures in both Maricopa and Pinal counties, compared with 4,200 during January 2011, according to the ASU report.

The supply of homes listed for sale in metro Phoenix is down 42 percent from a year earlier.

by Catherine Reagor - Feb. 23, 2012 06:35 PM The Arizona Republic | azcentral.com





Report: Upbeat findings for Arizona housing market

Report: Upbeat findings for Arizona housing market

A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.
David Wallace/The Republic A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.



Metro Phoenix home prices are up. Fewer inexpensive homes are for sale, and the number of pending foreclosures is down.

The positive housing-market update comes from Arizona State University's newest real-estate report.

It's the first monthly housing analysis from Mike Orr, who was recently named director of the Center for Real Estate Theory and Practice for ASU's W.P. Carey School of Business.

"Single-family home prices overall in the Phoenix area have been moving up since they reached a low point in September," Orr said in his debut monthly housing report.

"Also, looking forward, I expect a declining trend in foreclosures."

Orr also publishes a daily online analysis of Phoenix-area housing indicators called the "Cromford Report."

The median price of all home sales, including new homes, reached $120,500 in January of this year, Orr reports. That compares with $113,166 a year earlier.

The average price per square foot of Valley houses has climbed 3 percent since last year.

There were approximately 8,000 new and used homes sold in January, up from 7,500 in January 2011.

Orr said investors have snatched up the oversupply of homes for sale under $300,000.

"Many people think there's a glut of homes the banks are hiding somewhere, and that may be the case in other markets, but not here in the Phoenix area," he said.

"We've gone through so many foreclosures that the system has been working itself out for about five years."

In January, there were 2,450 single-family foreclosures in both Maricopa and Pinal counties, compared with 4,200 during January 2011, according to the ASU report.

The supply of homes listed for sale in metro Phoenix is down 42 percent from a year earlier.

by Catherine Reagor - Feb. 23, 2012 06:35 PM The Arizona Republic | azcentral.com





Report: Upbeat findings for Arizona housing market

Report: Upbeat findings for Arizona housing market

A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.
David Wallace/The Republic A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.



Metro Phoenix home prices are up. Fewer inexpensive homes are for sale, and the number of pending foreclosures is down.

The positive housing-market update comes from Arizona State University's newest real-estate report.

It's the first monthly housing analysis from Mike Orr, who was recently named director of the Center for Real Estate Theory and Practice for ASU's W.P. Carey School of Business.

"Single-family home prices overall in the Phoenix area have been moving up since they reached a low point in September," Orr said in his debut monthly housing report.

"Also, looking forward, I expect a declining trend in foreclosures."

Orr also publishes a daily online analysis of Phoenix-area housing indicators called the "Cromford Report."

The median price of all home sales, including new homes, reached $120,500 in January of this year, Orr reports. That compares with $113,166 a year earlier.

The average price per square foot of Valley houses has climbed 3 percent since last year.

There were approximately 8,000 new and used homes sold in January, up from 7,500 in January 2011.

Orr said investors have snatched up the oversupply of homes for sale under $300,000.

"Many people think there's a glut of homes the banks are hiding somewhere, and that may be the case in other markets, but not here in the Phoenix area," he said.

"We've gone through so many foreclosures that the system has been working itself out for about five years."

In January, there were 2,450 single-family foreclosures in both Maricopa and Pinal counties, compared with 4,200 during January 2011, according to the ASU report.

The supply of homes listed for sale in metro Phoenix is down 42 percent from a year earlier.

by Catherine Reagor - Feb. 23, 2012 06:35 PM The Arizona Republic | azcentral.com





Report: Upbeat findings for Arizona housing market

Report: Upbeat findings for Arizona housing market

A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.
David Wallace/The Republic A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.



Metro Phoenix home prices are up. Fewer inexpensive homes are for sale, and the number of pending foreclosures is down.

The positive housing-market update comes from Arizona State University's newest real-estate report.

It's the first monthly housing analysis from Mike Orr, who was recently named director of the Center for Real Estate Theory and Practice for ASU's W.P. Carey School of Business.

"Single-family home prices overall in the Phoenix area have been moving up since they reached a low point in September," Orr said in his debut monthly housing report.

"Also, looking forward, I expect a declining trend in foreclosures."

Orr also publishes a daily online analysis of Phoenix-area housing indicators called the "Cromford Report."

The median price of all home sales, including new homes, reached $120,500 in January of this year, Orr reports. That compares with $113,166 a year earlier.

The average price per square foot of Valley houses has climbed 3 percent since last year.

There were approximately 8,000 new and used homes sold in January, up from 7,500 in January 2011.

Orr said investors have snatched up the oversupply of homes for sale under $300,000.

"Many people think there's a glut of homes the banks are hiding somewhere, and that may be the case in other markets, but not here in the Phoenix area," he said.

"We've gone through so many foreclosures that the system has been working itself out for about five years."

In January, there were 2,450 single-family foreclosures in both Maricopa and Pinal counties, compared with 4,200 during January 2011, according to the ASU report.

The supply of homes listed for sale in metro Phoenix is down 42 percent from a year earlier.

by Catherine Reagor - Feb. 23, 2012 06:35 PM The Arizona Republic | azcentral.com





Report: Upbeat findings for Arizona housing market

Report: Upbeat findings for Arizona housing market

A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.
David Wallace/The Republic A sign last month advertises another Valley home sold, this one in Gilbert. A new ASU report suggests that home prices overall in the Phoenix area have been on the rise since September.



Metro Phoenix home prices are up. Fewer inexpensive homes are for sale, and the number of pending foreclosures is down.

The positive housing-market update comes from Arizona State University's newest real-estate report.

It's the first monthly housing analysis from Mike Orr, who was recently named director of the Center for Real Estate Theory and Practice for ASU's W.P. Carey School of Business.

"Single-family home prices overall in the Phoenix area have been moving up since they reached a low point in September," Orr said in his debut monthly housing report.

"Also, looking forward, I expect a declining trend in foreclosures."

Orr also publishes a daily online analysis of Phoenix-area housing indicators called the "Cromford Report."

The median price of all home sales, including new homes, reached $120,500 in January of this year, Orr reports. That compares with $113,166 a year earlier.

The average price per square foot of Valley houses has climbed 3 percent since last year.

There were approximately 8,000 new and used homes sold in January, up from 7,500 in January 2011.

Orr said investors have snatched up the oversupply of homes for sale under $300,000.

"Many people think there's a glut of homes the banks are hiding somewhere, and that may be the case in other markets, but not here in the Phoenix area," he said.

"We've gone through so many foreclosures that the system has been working itself out for about five years."

In January, there were 2,450 single-family foreclosures in both Maricopa and Pinal counties, compared with 4,200 during January 2011, according to the ASU report.

The supply of homes listed for sale in metro Phoenix is down 42 percent from a year earlier.

by Catherine Reagor - Feb. 23, 2012 06:35 PM The Arizona Republic | azcentral.com





Report: Upbeat findings for Arizona housing market

Friday, February 24, 2012

Arizona bills target home-affidavit law

Leif Swanson expected an explosion of anger when homeowners received property-valuation notices this year.

But what he and many others feared turned out to be a dud.

The issue wasn't home values -- always a touchy subject -- but a requirement for an affidavit declaring the property is the owner's primary residence. Failure to return the affidavit could result in property taxes going up as much as $600 a year.

Swanson, a Realtor, said he was aware of the pending change and planned to notify his clients of it in his February newsletter. He, like others in the real-estate industry, worried homeowners would not scrutinize the annual statements and either toss them in a file or throw them away, risking a hit on their property taxes.

But when Swanson got his own valuation notice, there was no affidavit.

That's because the county assessors, who send out the valuation notices, didn't follow through on the affidavit, a provision of the Legislature's "jobs bill" that passed last year.

"The cost of doing it would have been considerable," Maricopa County Assessor Keith Russell said.

Besides, lawmakers had already signaled they intended to repeal the requirement because it was burdensome, Russell said, so it made little sense to whipsaw homeowners with a new requirement, only to walk it back. The result has been confusion in the real-estate ranks, said Tom Farley, CEO of the Arizona Association of Realtors. Those with long memories remember the debate at the Capitol in early 2011, when Farley warned that the affidavit could be easily overlooked and lead to unintended tax hikes.

That's because homeowners who actually live in their homes, as opposed to renting them out, automatically qualify for a rebate of up to $600 a year. Under last year's legislation, if a property owner didn't return the affidavit, he or she would lose the rebate.

"Our advice to homeowners right now is to sit tight," Farley said. "We're hoping this provision from last year's law will be repealed and a more targeted notice will be put in its place."

Lawmakers are speeding through two bills to do just that. One, Senate Bill 1217, has already passed the Senate and is awaiting a vote of the full House. The House version, House Bill 2486, which essentially does the same thing, is now in the Senate for action.

Rep. Debbie Lesko, R-Glendale, proposed the affidavit as a way to ferret out people who claim multiple properties as their primary residence and wrongly get a tax break.

It was rolled into the jobs bill to offset the money the state would lose from property-tax cuts for business and agriculture. Lawmakers figured the state would save $39 million a year by not granting the rebate to rental properties.

by Mary Jo Pitzl - Feb. 22, 2012 10:21 PM The Republic | azcentral.com




Arizona bills target home-affidavit law

Arizona bills target home-affidavit law

Leif Swanson expected an explosion of anger when homeowners received property-valuation notices this year.

But what he and many others feared turned out to be a dud.

The issue wasn't home values -- always a touchy subject -- but a requirement for an affidavit declaring the property is the owner's primary residence. Failure to return the affidavit could result in property taxes going up as much as $600 a year.

Swanson, a Realtor, said he was aware of the pending change and planned to notify his clients of it in his February newsletter. He, like others in the real-estate industry, worried homeowners would not scrutinize the annual statements and either toss them in a file or throw them away, risking a hit on their property taxes.

But when Swanson got his own valuation notice, there was no affidavit.

That's because the county assessors, who send out the valuation notices, didn't follow through on the affidavit, a provision of the Legislature's "jobs bill" that passed last year.

"The cost of doing it would have been considerable," Maricopa County Assessor Keith Russell said.

Besides, lawmakers had already signaled they intended to repeal the requirement because it was burdensome, Russell said, so it made little sense to whipsaw homeowners with a new requirement, only to walk it back. The result has been confusion in the real-estate ranks, said Tom Farley, CEO of the Arizona Association of Realtors. Those with long memories remember the debate at the Capitol in early 2011, when Farley warned that the affidavit could be easily overlooked and lead to unintended tax hikes.

That's because homeowners who actually live in their homes, as opposed to renting them out, automatically qualify for a rebate of up to $600 a year. Under last year's legislation, if a property owner didn't return the affidavit, he or she would lose the rebate.

"Our advice to homeowners right now is to sit tight," Farley said. "We're hoping this provision from last year's law will be repealed and a more targeted notice will be put in its place."

Lawmakers are speeding through two bills to do just that. One, Senate Bill 1217, has already passed the Senate and is awaiting a vote of the full House. The House version, House Bill 2486, which essentially does the same thing, is now in the Senate for action.

Rep. Debbie Lesko, R-Glendale, proposed the affidavit as a way to ferret out people who claim multiple properties as their primary residence and wrongly get a tax break.

It was rolled into the jobs bill to offset the money the state would lose from property-tax cuts for business and agriculture. Lawmakers figured the state would save $39 million a year by not granting the rebate to rental properties.

by Mary Jo Pitzl - Feb. 22, 2012 10:21 PM The Republic | azcentral.com




Arizona bills target home-affidavit law

Arizona bills target home-affidavit law

Leif Swanson expected an explosion of anger when homeowners received property-valuation notices this year.

But what he and many others feared turned out to be a dud.

The issue wasn't home values -- always a touchy subject -- but a requirement for an affidavit declaring the property is the owner's primary residence. Failure to return the affidavit could result in property taxes going up as much as $600 a year.

Swanson, a Realtor, said he was aware of the pending change and planned to notify his clients of it in his February newsletter. He, like others in the real-estate industry, worried homeowners would not scrutinize the annual statements and either toss them in a file or throw them away, risking a hit on their property taxes.

But when Swanson got his own valuation notice, there was no affidavit.

That's because the county assessors, who send out the valuation notices, didn't follow through on the affidavit, a provision of the Legislature's "jobs bill" that passed last year.

"The cost of doing it would have been considerable," Maricopa County Assessor Keith Russell said.

Besides, lawmakers had already signaled they intended to repeal the requirement because it was burdensome, Russell said, so it made little sense to whipsaw homeowners with a new requirement, only to walk it back. The result has been confusion in the real-estate ranks, said Tom Farley, CEO of the Arizona Association of Realtors. Those with long memories remember the debate at the Capitol in early 2011, when Farley warned that the affidavit could be easily overlooked and lead to unintended tax hikes.

That's because homeowners who actually live in their homes, as opposed to renting them out, automatically qualify for a rebate of up to $600 a year. Under last year's legislation, if a property owner didn't return the affidavit, he or she would lose the rebate.

"Our advice to homeowners right now is to sit tight," Farley said. "We're hoping this provision from last year's law will be repealed and a more targeted notice will be put in its place."

Lawmakers are speeding through two bills to do just that. One, Senate Bill 1217, has already passed the Senate and is awaiting a vote of the full House. The House version, House Bill 2486, which essentially does the same thing, is now in the Senate for action.

Rep. Debbie Lesko, R-Glendale, proposed the affidavit as a way to ferret out people who claim multiple properties as their primary residence and wrongly get a tax break.

It was rolled into the jobs bill to offset the money the state would lose from property-tax cuts for business and agriculture. Lawmakers figured the state would save $39 million a year by not granting the rebate to rental properties.

by Mary Jo Pitzl - Feb. 22, 2012 10:21 PM The Republic | azcentral.com




Arizona bills target home-affidavit law

Arizona bills target home-affidavit law

Leif Swanson expected an explosion of anger when homeowners received property-valuation notices this year.

But what he and many others feared turned out to be a dud.

The issue wasn't home values -- always a touchy subject -- but a requirement for an affidavit declaring the property is the owner's primary residence. Failure to return the affidavit could result in property taxes going up as much as $600 a year.

Swanson, a Realtor, said he was aware of the pending change and planned to notify his clients of it in his February newsletter. He, like others in the real-estate industry, worried homeowners would not scrutinize the annual statements and either toss them in a file or throw them away, risking a hit on their property taxes.

But when Swanson got his own valuation notice, there was no affidavit.

That's because the county assessors, who send out the valuation notices, didn't follow through on the affidavit, a provision of the Legislature's "jobs bill" that passed last year.

"The cost of doing it would have been considerable," Maricopa County Assessor Keith Russell said.

Besides, lawmakers had already signaled they intended to repeal the requirement because it was burdensome, Russell said, so it made little sense to whipsaw homeowners with a new requirement, only to walk it back. The result has been confusion in the real-estate ranks, said Tom Farley, CEO of the Arizona Association of Realtors. Those with long memories remember the debate at the Capitol in early 2011, when Farley warned that the affidavit could be easily overlooked and lead to unintended tax hikes.

That's because homeowners who actually live in their homes, as opposed to renting them out, automatically qualify for a rebate of up to $600 a year. Under last year's legislation, if a property owner didn't return the affidavit, he or she would lose the rebate.

"Our advice to homeowners right now is to sit tight," Farley said. "We're hoping this provision from last year's law will be repealed and a more targeted notice will be put in its place."

Lawmakers are speeding through two bills to do just that. One, Senate Bill 1217, has already passed the Senate and is awaiting a vote of the full House. The House version, House Bill 2486, which essentially does the same thing, is now in the Senate for action.

Rep. Debbie Lesko, R-Glendale, proposed the affidavit as a way to ferret out people who claim multiple properties as their primary residence and wrongly get a tax break.

It was rolled into the jobs bill to offset the money the state would lose from property-tax cuts for business and agriculture. Lawmakers figured the state would save $39 million a year by not granting the rebate to rental properties.

by Mary Jo Pitzl - Feb. 22, 2012 10:21 PM The Republic | azcentral.com




Arizona bills target home-affidavit law

Arizona bills target home-affidavit law

Leif Swanson expected an explosion of anger when homeowners received property-valuation notices this year.

But what he and many others feared turned out to be a dud.

The issue wasn't home values -- always a touchy subject -- but a requirement for an affidavit declaring the property is the owner's primary residence. Failure to return the affidavit could result in property taxes going up as much as $600 a year.

Swanson, a Realtor, said he was aware of the pending change and planned to notify his clients of it in his February newsletter. He, like others in the real-estate industry, worried homeowners would not scrutinize the annual statements and either toss them in a file or throw them away, risking a hit on their property taxes.

But when Swanson got his own valuation notice, there was no affidavit.

That's because the county assessors, who send out the valuation notices, didn't follow through on the affidavit, a provision of the Legislature's "jobs bill" that passed last year.

"The cost of doing it would have been considerable," Maricopa County Assessor Keith Russell said.

Besides, lawmakers had already signaled they intended to repeal the requirement because it was burdensome, Russell said, so it made little sense to whipsaw homeowners with a new requirement, only to walk it back. The result has been confusion in the real-estate ranks, said Tom Farley, CEO of the Arizona Association of Realtors. Those with long memories remember the debate at the Capitol in early 2011, when Farley warned that the affidavit could be easily overlooked and lead to unintended tax hikes.

That's because homeowners who actually live in their homes, as opposed to renting them out, automatically qualify for a rebate of up to $600 a year. Under last year's legislation, if a property owner didn't return the affidavit, he or she would lose the rebate.

"Our advice to homeowners right now is to sit tight," Farley said. "We're hoping this provision from last year's law will be repealed and a more targeted notice will be put in its place."

Lawmakers are speeding through two bills to do just that. One, Senate Bill 1217, has already passed the Senate and is awaiting a vote of the full House. The House version, House Bill 2486, which essentially does the same thing, is now in the Senate for action.

Rep. Debbie Lesko, R-Glendale, proposed the affidavit as a way to ferret out people who claim multiple properties as their primary residence and wrongly get a tax break.

It was rolled into the jobs bill to offset the money the state would lose from property-tax cuts for business and agriculture. Lawmakers figured the state would save $39 million a year by not granting the rebate to rental properties.

by Mary Jo Pitzl - Feb. 22, 2012 10:21 PM The Republic | azcentral.com




Arizona bills target home-affidavit law

Arizona bills target home-affidavit law

Leif Swanson expected an explosion of anger when homeowners received property-valuation notices this year.

But what he and many others feared turned out to be a dud.

The issue wasn't home values -- always a touchy subject -- but a requirement for an affidavit declaring the property is the owner's primary residence. Failure to return the affidavit could result in property taxes going up as much as $600 a year.

Swanson, a Realtor, said he was aware of the pending change and planned to notify his clients of it in his February newsletter. He, like others in the real-estate industry, worried homeowners would not scrutinize the annual statements and either toss them in a file or throw them away, risking a hit on their property taxes.

But when Swanson got his own valuation notice, there was no affidavit.

That's because the county assessors, who send out the valuation notices, didn't follow through on the affidavit, a provision of the Legislature's "jobs bill" that passed last year.

"The cost of doing it would have been considerable," Maricopa County Assessor Keith Russell said.

Besides, lawmakers had already signaled they intended to repeal the requirement because it was burdensome, Russell said, so it made little sense to whipsaw homeowners with a new requirement, only to walk it back. The result has been confusion in the real-estate ranks, said Tom Farley, CEO of the Arizona Association of Realtors. Those with long memories remember the debate at the Capitol in early 2011, when Farley warned that the affidavit could be easily overlooked and lead to unintended tax hikes.

That's because homeowners who actually live in their homes, as opposed to renting them out, automatically qualify for a rebate of up to $600 a year. Under last year's legislation, if a property owner didn't return the affidavit, he or she would lose the rebate.

"Our advice to homeowners right now is to sit tight," Farley said. "We're hoping this provision from last year's law will be repealed and a more targeted notice will be put in its place."

Lawmakers are speeding through two bills to do just that. One, Senate Bill 1217, has already passed the Senate and is awaiting a vote of the full House. The House version, House Bill 2486, which essentially does the same thing, is now in the Senate for action.

Rep. Debbie Lesko, R-Glendale, proposed the affidavit as a way to ferret out people who claim multiple properties as their primary residence and wrongly get a tax break.

It was rolled into the jobs bill to offset the money the state would lose from property-tax cuts for business and agriculture. Lawmakers figured the state would save $39 million a year by not granting the rebate to rental properties.

by Mary Jo Pitzl - Feb. 22, 2012 10:21 PM The Republic | azcentral.com




Arizona bills target home-affidavit law

Arizona bills target home-affidavit law

Leif Swanson expected an explosion of anger when homeowners received property-valuation notices this year.

But what he and many others feared turned out to be a dud.

The issue wasn't home values -- always a touchy subject -- but a requirement for an affidavit declaring the property is the owner's primary residence. Failure to return the affidavit could result in property taxes going up as much as $600 a year.

Swanson, a Realtor, said he was aware of the pending change and planned to notify his clients of it in his February newsletter. He, like others in the real-estate industry, worried homeowners would not scrutinize the annual statements and either toss them in a file or throw them away, risking a hit on their property taxes.

But when Swanson got his own valuation notice, there was no affidavit.

That's because the county assessors, who send out the valuation notices, didn't follow through on the affidavit, a provision of the Legislature's "jobs bill" that passed last year.

"The cost of doing it would have been considerable," Maricopa County Assessor Keith Russell said.

Besides, lawmakers had already signaled they intended to repeal the requirement because it was burdensome, Russell said, so it made little sense to whipsaw homeowners with a new requirement, only to walk it back. The result has been confusion in the real-estate ranks, said Tom Farley, CEO of the Arizona Association of Realtors. Those with long memories remember the debate at the Capitol in early 2011, when Farley warned that the affidavit could be easily overlooked and lead to unintended tax hikes.

That's because homeowners who actually live in their homes, as opposed to renting them out, automatically qualify for a rebate of up to $600 a year. Under last year's legislation, if a property owner didn't return the affidavit, he or she would lose the rebate.

"Our advice to homeowners right now is to sit tight," Farley said. "We're hoping this provision from last year's law will be repealed and a more targeted notice will be put in its place."

Lawmakers are speeding through two bills to do just that. One, Senate Bill 1217, has already passed the Senate and is awaiting a vote of the full House. The House version, House Bill 2486, which essentially does the same thing, is now in the Senate for action.

Rep. Debbie Lesko, R-Glendale, proposed the affidavit as a way to ferret out people who claim multiple properties as their primary residence and wrongly get a tax break.

It was rolled into the jobs bill to offset the money the state would lose from property-tax cuts for business and agriculture. Lawmakers figured the state would save $39 million a year by not granting the rebate to rental properties.

by Mary Jo Pitzl - Feb. 22, 2012 10:21 PM The Republic | azcentral.com



Arizona bills target home-affidavit law

Investors have eye on McDowell Corridor - USATODAY.com

Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street.

It was standing-room only at a recent meeting of the Scottsdale City Council Subcommittee on Economic Development, where project representatives gave updates on their plans to kick-start revitalization on McDowell.

Residents learned that there already is new investment in the area and that more is on the way. In all, the corridor has attracted about $138million in private investment money in the past two years, said Jim Mullin, the city's economic-vitality director.

Those investments include apartment projects by Mark-Taylor and Chason Development, Chapman Ford's continued expansion, Fry's upcoming renovation, Comerica Bank, Chase Bank's expansion, Certified Benz & Beemer, and Paul's Ace Hardware renovation.

"There are two properties in escrow that, when announced, will bring the total to $150million, all since the city's Economic Development Department reorganization in November 2010," Mullin said.

That total doesn't include two major projects planned at SkySong, the Arizona State University Scottsdale Innovation Center.

And rising above it all could be an elevated trail in the center of McDowell that would go from the Indian Bend Wash just east of Miller Road to 64th Street at Papago Park and could include a 3,000- to 4,000-seat amphitheater at Papago Park. The proposal could be considered by voters in a bond proposal next year.

Current and future investments are aimed at bringing the McDowell Corridor "back to where it wants to be," Mullin said.

Mayor Jim Lane said there are no subsidies from the city in any of the projects involving that $138million investment.

New dealership

In 2008, Penske Automotive Group Inc. closed its Scottsdale Jaguar and Scottsdale Land Rover dealership at 6725 E. McDowell. Last November, Certified Benz & Beemer purchased the property from Penske and moved its pre-owned luxury-auto business from Mesa to McDowell.

"We started out in Mesa back in 2006, and we had 30 cars and 10 employees," manager Normand Neal said.

"Today, we have about 200 cars and over 40 employees, and we're estimating our annual sales this year to be about $45million."
A Scottsdale address better suits the business because of its focus on luxury autos, he said.


New residential

Chason Development, an upstate New York apartment developer, has purchased from Pitre Properties Ltd. a 5-acre site at the northwestern corner of McDowell and 68th Street. What was once an auto dealership will be transformed into a high-end apartment complex.

Zoning attorney John Berry said Chason plans to invest $25million in the project, which will include 220 units in one-, two- and three-story buildings, and reuse the existing parking garage.

The units along McDowell will feature stoops, or porches, with steps to bring the "activity out front."

"This is something we haven't seen in Scottsdale yet," Berry said.

The project would provide access to the nearby canal and could include landscaping the canal, he said.

In the meantime, Mark-Taylor expects to begin demolition next month to make way for its 536-unit luxury-apartment complex on 27 acres at the southeastern corner of 74th Street and McDowell.
The project represents a $75 million investment, and rents will average about $1,200 a month, said Scott Taylor, Mark-Taylor's president.
The project already has spurred commercial redevelopment in the area.

Fry's spokeswoman JoEllen Lynn said the Fry's store on McDowell west of Hayden Road will be remodeled and expanded in anticipation of the increased population in the area.

Work should begin in June with completion slated for January.

SkySong

Employment at SkySong has reached more than 1,000, and it has generated more than $397million in economic impact for the city since its inception, according to a new report from the Greater Phoenix Economic Council.

The complex, at the southeastern corner of Scottsdale Road and McDowell, now includes more than 70 companies and has reached 97 percent occupancy.

The foundation expects to have a third office building and a 325-unit apartment complex under construction at SkySong in the coming months.

Construction permits should be obtained within 90 days for the apartments, said Don Couvillion, vice president of real estate for the ASU Foundation.

Pre-leasing has begun for the third office building, SkySong III, he said.

By Edward Gately, The Republic|azcentral.com Feb 23, 2012


Investors have eye on McDowell Corridor - USATODAY.com

Investors have eye on McDowell Corridor - USATODAY.com

Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street.

It was standing-room only at a recent meeting of the Scottsdale City Council Subcommittee on Economic Development, where project representatives gave updates on their plans to kick-start revitalization on McDowell.

Residents learned that there already is new investment in the area and that more is on the way. In all, the corridor has attracted about $138million in private investment money in the past two years, said Jim Mullin, the city's economic-vitality director.

Those investments include apartment projects by Mark-Taylor and Chason Development, Chapman Ford's continued expansion, Fry's upcoming renovation, Comerica Bank, Chase Bank's expansion, Certified Benz & Beemer, and Paul's Ace Hardware renovation.

"There are two properties in escrow that, when announced, will bring the total to $150million, all since the city's Economic Development Department reorganization in November 2010," Mullin said.

That total doesn't include two major projects planned at SkySong, the Arizona State University Scottsdale Innovation Center.

And rising above it all could be an elevated trail in the center of McDowell that would go from the Indian Bend Wash just east of Miller Road to 64th Street at Papago Park and could include a 3,000- to 4,000-seat amphitheater at Papago Park. The proposal could be considered by voters in a bond proposal next year.

Current and future investments are aimed at bringing the McDowell Corridor "back to where it wants to be," Mullin said.

Mayor Jim Lane said there are no subsidies from the city in any of the projects involving that $138million investment.

New dealership

In 2008, Penske Automotive Group Inc. closed its Scottsdale Jaguar and Scottsdale Land Rover dealership at 6725 E. McDowell. Last November, Certified Benz & Beemer purchased the property from Penske and moved its pre-owned luxury-auto business from Mesa to McDowell.

"We started out in Mesa back in 2006, and we had 30 cars and 10 employees," manager Normand Neal said.

"Today, we have about 200 cars and over 40 employees, and we're estimating our annual sales this year to be about $45million."
A Scottsdale address better suits the business because of its focus on luxury autos, he said.


New residential

Chason Development, an upstate New York apartment developer, has purchased from Pitre Properties Ltd. a 5-acre site at the northwestern corner of McDowell and 68th Street. What was once an auto dealership will be transformed into a high-end apartment complex.

Zoning attorney John Berry said Chason plans to invest $25million in the project, which will include 220 units in one-, two- and three-story buildings, and reuse the existing parking garage.

The units along McDowell will feature stoops, or porches, with steps to bring the "activity out front."

"This is something we haven't seen in Scottsdale yet," Berry said.

The project would provide access to the nearby canal and could include landscaping the canal, he said.

In the meantime, Mark-Taylor expects to begin demolition next month to make way for its 536-unit luxury-apartment complex on 27 acres at the southeastern corner of 74th Street and McDowell.
The project represents a $75 million investment, and rents will average about $1,200 a month, said Scott Taylor, Mark-Taylor's president.
The project already has spurred commercial redevelopment in the area.

Fry's spokeswoman JoEllen Lynn said the Fry's store on McDowell west of Hayden Road will be remodeled and expanded in anticipation of the increased population in the area.

Work should begin in June with completion slated for January.

SkySong

Employment at SkySong has reached more than 1,000, and it has generated more than $397million in economic impact for the city since its inception, according to a new report from the Greater Phoenix Economic Council.

The complex, at the southeastern corner of Scottsdale Road and McDowell, now includes more than 70 companies and has reached 97 percent occupancy.

The foundation expects to have a third office building and a 325-unit apartment complex under construction at SkySong in the coming months.

Construction permits should be obtained within 90 days for the apartments, said Don Couvillion, vice president of real estate for the ASU Foundation.

Pre-leasing has begun for the third office building, SkySong III, he said.

By Edward Gately, The Republic|azcentral.com Feb 23, 2012


Investors have eye on McDowell Corridor - USATODAY.com

Investors have eye on McDowell Corridor - USATODAY.com

Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street.

It was standing-room only at a recent meeting of the Scottsdale City Council Subcommittee on Economic Development, where project representatives gave updates on their plans to kick-start revitalization on McDowell.

Residents learned that there already is new investment in the area and that more is on the way. In all, the corridor has attracted about $138million in private investment money in the past two years, said Jim Mullin, the city's economic-vitality director.

Those investments include apartment projects by Mark-Taylor and Chason Development, Chapman Ford's continued expansion, Fry's upcoming renovation, Comerica Bank, Chase Bank's expansion, Certified Benz & Beemer, and Paul's Ace Hardware renovation.

"There are two properties in escrow that, when announced, will bring the total to $150million, all since the city's Economic Development Department reorganization in November 2010," Mullin said.

That total doesn't include two major projects planned at SkySong, the Arizona State University Scottsdale Innovation Center.

And rising above it all could be an elevated trail in the center of McDowell that would go from the Indian Bend Wash just east of Miller Road to 64th Street at Papago Park and could include a 3,000- to 4,000-seat amphitheater at Papago Park. The proposal could be considered by voters in a bond proposal next year.

Current and future investments are aimed at bringing the McDowell Corridor "back to where it wants to be," Mullin said.

Mayor Jim Lane said there are no subsidies from the city in any of the projects involving that $138million investment.

New dealership

In 2008, Penske Automotive Group Inc. closed its Scottsdale Jaguar and Scottsdale Land Rover dealership at 6725 E. McDowell. Last November, Certified Benz & Beemer purchased the property from Penske and moved its pre-owned luxury-auto business from Mesa to McDowell.

"We started out in Mesa back in 2006, and we had 30 cars and 10 employees," manager Normand Neal said.

"Today, we have about 200 cars and over 40 employees, and we're estimating our annual sales this year to be about $45million."
A Scottsdale address better suits the business because of its focus on luxury autos, he said.


New residential

Chason Development, an upstate New York apartment developer, has purchased from Pitre Properties Ltd. a 5-acre site at the northwestern corner of McDowell and 68th Street. What was once an auto dealership will be transformed into a high-end apartment complex.

Zoning attorney John Berry said Chason plans to invest $25million in the project, which will include 220 units in one-, two- and three-story buildings, and reuse the existing parking garage.

The units along McDowell will feature stoops, or porches, with steps to bring the "activity out front."

"This is something we haven't seen in Scottsdale yet," Berry said.

The project would provide access to the nearby canal and could include landscaping the canal, he said.

In the meantime, Mark-Taylor expects to begin demolition next month to make way for its 536-unit luxury-apartment complex on 27 acres at the southeastern corner of 74th Street and McDowell.
The project represents a $75 million investment, and rents will average about $1,200 a month, said Scott Taylor, Mark-Taylor's president.
The project already has spurred commercial redevelopment in the area.

Fry's spokeswoman JoEllen Lynn said the Fry's store on McDowell west of Hayden Road will be remodeled and expanded in anticipation of the increased population in the area.

Work should begin in June with completion slated for January.

SkySong

Employment at SkySong has reached more than 1,000, and it has generated more than $397million in economic impact for the city since its inception, according to a new report from the Greater Phoenix Economic Council.

The complex, at the southeastern corner of Scottsdale Road and McDowell, now includes more than 70 companies and has reached 97 percent occupancy.

The foundation expects to have a third office building and a 325-unit apartment complex under construction at SkySong in the coming months.

Construction permits should be obtained within 90 days for the apartments, said Don Couvillion, vice president of real estate for the ASU Foundation.

Pre-leasing has begun for the third office building, SkySong III, he said.

By Edward Gately, The Republic|azcentral.com Feb 23, 2012


Investors have eye on McDowell Corridor - USATODAY.com

Investors have eye on McDowell Corridor - USATODAY.com

Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street.

It was standing-room only at a recent meeting of the Scottsdale City Council Subcommittee on Economic Development, where project representatives gave updates on their plans to kick-start revitalization on McDowell.

Residents learned that there already is new investment in the area and that more is on the way. In all, the corridor has attracted about $138million in private investment money in the past two years, said Jim Mullin, the city's economic-vitality director.

Those investments include apartment projects by Mark-Taylor and Chason Development, Chapman Ford's continued expansion, Fry's upcoming renovation, Comerica Bank, Chase Bank's expansion, Certified Benz & Beemer, and Paul's Ace Hardware renovation.

"There are two properties in escrow that, when announced, will bring the total to $150million, all since the city's Economic Development Department reorganization in November 2010," Mullin said.

That total doesn't include two major projects planned at SkySong, the Arizona State University Scottsdale Innovation Center.

And rising above it all could be an elevated trail in the center of McDowell that would go from the Indian Bend Wash just east of Miller Road to 64th Street at Papago Park and could include a 3,000- to 4,000-seat amphitheater at Papago Park. The proposal could be considered by voters in a bond proposal next year.

Current and future investments are aimed at bringing the McDowell Corridor "back to where it wants to be," Mullin said.

Mayor Jim Lane said there are no subsidies from the city in any of the projects involving that $138million investment.

New dealership

In 2008, Penske Automotive Group Inc. closed its Scottsdale Jaguar and Scottsdale Land Rover dealership at 6725 E. McDowell. Last November, Certified Benz & Beemer purchased the property from Penske and moved its pre-owned luxury-auto business from Mesa to McDowell.

"We started out in Mesa back in 2006, and we had 30 cars and 10 employees," manager Normand Neal said.

"Today, we have about 200 cars and over 40 employees, and we're estimating our annual sales this year to be about $45million."
A Scottsdale address better suits the business because of its focus on luxury autos, he said.


New residential

Chason Development, an upstate New York apartment developer, has purchased from Pitre Properties Ltd. a 5-acre site at the northwestern corner of McDowell and 68th Street. What was once an auto dealership will be transformed into a high-end apartment complex.

Zoning attorney John Berry said Chason plans to invest $25million in the project, which will include 220 units in one-, two- and three-story buildings, and reuse the existing parking garage.

The units along McDowell will feature stoops, or porches, with steps to bring the "activity out front."

"This is something we haven't seen in Scottsdale yet," Berry said.

The project would provide access to the nearby canal and could include landscaping the canal, he said.

In the meantime, Mark-Taylor expects to begin demolition next month to make way for its 536-unit luxury-apartment complex on 27 acres at the southeastern corner of 74th Street and McDowell.
The project represents a $75 million investment, and rents will average about $1,200 a month, said Scott Taylor, Mark-Taylor's president.
The project already has spurred commercial redevelopment in the area.

Fry's spokeswoman JoEllen Lynn said the Fry's store on McDowell west of Hayden Road will be remodeled and expanded in anticipation of the increased population in the area.

Work should begin in June with completion slated for January.

SkySong

Employment at SkySong has reached more than 1,000, and it has generated more than $397million in economic impact for the city since its inception, according to a new report from the Greater Phoenix Economic Council.

The complex, at the southeastern corner of Scottsdale Road and McDowell, now includes more than 70 companies and has reached 97 percent occupancy.

The foundation expects to have a third office building and a 325-unit apartment complex under construction at SkySong in the coming months.

Construction permits should be obtained within 90 days for the apartments, said Don Couvillion, vice president of real estate for the ASU Foundation.

Pre-leasing has begun for the third office building, SkySong III, he said.

By Edward Gately, The Republic|azcentral.com Feb 23, 2012


Investors have eye on McDowell Corridor - USATODAY.com

Investors have eye on McDowell Corridor - USATODAY.com

Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street.

It was standing-room only at a recent meeting of the Scottsdale City Council Subcommittee on Economic Development, where project representatives gave updates on their plans to kick-start revitalization on McDowell.

Residents learned that there already is new investment in the area and that more is on the way. In all, the corridor has attracted about $138million in private investment money in the past two years, said Jim Mullin, the city's economic-vitality director.

Those investments include apartment projects by Mark-Taylor and Chason Development, Chapman Ford's continued expansion, Fry's upcoming renovation, Comerica Bank, Chase Bank's expansion, Certified Benz & Beemer, and Paul's Ace Hardware renovation.

"There are two properties in escrow that, when announced, will bring the total to $150million, all since the city's Economic Development Department reorganization in November 2010," Mullin said.

That total doesn't include two major projects planned at SkySong, the Arizona State University Scottsdale Innovation Center.

And rising above it all could be an elevated trail in the center of McDowell that would go from the Indian Bend Wash just east of Miller Road to 64th Street at Papago Park and could include a 3,000- to 4,000-seat amphitheater at Papago Park. The proposal could be considered by voters in a bond proposal next year.

Current and future investments are aimed at bringing the McDowell Corridor "back to where it wants to be," Mullin said.

Mayor Jim Lane said there are no subsidies from the city in any of the projects involving that $138million investment.

New dealership

In 2008, Penske Automotive Group Inc. closed its Scottsdale Jaguar and Scottsdale Land Rover dealership at 6725 E. McDowell. Last November, Certified Benz & Beemer purchased the property from Penske and moved its pre-owned luxury-auto business from Mesa to McDowell.

"We started out in Mesa back in 2006, and we had 30 cars and 10 employees," manager Normand Neal said.

"Today, we have about 200 cars and over 40 employees, and we're estimating our annual sales this year to be about $45million."
A Scottsdale address better suits the business because of its focus on luxury autos, he said.


New residential

Chason Development, an upstate New York apartment developer, has purchased from Pitre Properties Ltd. a 5-acre site at the northwestern corner of McDowell and 68th Street. What was once an auto dealership will be transformed into a high-end apartment complex.

Zoning attorney John Berry said Chason plans to invest $25million in the project, which will include 220 units in one-, two- and three-story buildings, and reuse the existing parking garage.

The units along McDowell will feature stoops, or porches, with steps to bring the "activity out front."

"This is something we haven't seen in Scottsdale yet," Berry said.

The project would provide access to the nearby canal and could include landscaping the canal, he said.

In the meantime, Mark-Taylor expects to begin demolition next month to make way for its 536-unit luxury-apartment complex on 27 acres at the southeastern corner of 74th Street and McDowell.
The project represents a $75 million investment, and rents will average about $1,200 a month, said Scott Taylor, Mark-Taylor's president.
The project already has spurred commercial redevelopment in the area.

Fry's spokeswoman JoEllen Lynn said the Fry's store on McDowell west of Hayden Road will be remodeled and expanded in anticipation of the increased population in the area.

Work should begin in June with completion slated for January.

SkySong

Employment at SkySong has reached more than 1,000, and it has generated more than $397million in economic impact for the city since its inception, according to a new report from the Greater Phoenix Economic Council.

The complex, at the southeastern corner of Scottsdale Road and McDowell, now includes more than 70 companies and has reached 97 percent occupancy.

The foundation expects to have a third office building and a 325-unit apartment complex under construction at SkySong in the coming months.

Construction permits should be obtained within 90 days for the apartments, said Don Couvillion, vice president of real estate for the ASU Foundation.

Pre-leasing has begun for the third office building, SkySong III, he said.

By Edward Gately, The Republic|azcentral.com Feb 23, 2012


Investors have eye on McDowell Corridor - USATODAY.com

Investors have eye on McDowell Corridor - USATODAY.com

Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street.

It was standing-room only at a recent meeting of the Scottsdale City Council Subcommittee on Economic Development, where project representatives gave updates on their plans to kick-start revitalization on McDowell.

Residents learned that there already is new investment in the area and that more is on the way. In all, the corridor has attracted about $138million in private investment money in the past two years, said Jim Mullin, the city's economic-vitality director.

Those investments include apartment projects by Mark-Taylor and Chason Development, Chapman Ford's continued expansion, Fry's upcoming renovation, Comerica Bank, Chase Bank's expansion, Certified Benz & Beemer, and Paul's Ace Hardware renovation.

"There are two properties in escrow that, when announced, will bring the total to $150million, all since the city's Economic Development Department reorganization in November 2010," Mullin said.

That total doesn't include two major projects planned at SkySong, the Arizona State University Scottsdale Innovation Center.

And rising above it all could be an elevated trail in the center of McDowell that would go from the Indian Bend Wash just east of Miller Road to 64th Street at Papago Park and could include a 3,000- to 4,000-seat amphitheater at Papago Park. The proposal could be considered by voters in a bond proposal next year.

Current and future investments are aimed at bringing the McDowell Corridor "back to where it wants to be," Mullin said.

Mayor Jim Lane said there are no subsidies from the city in any of the projects involving that $138million investment.

New dealership

In 2008, Penske Automotive Group Inc. closed its Scottsdale Jaguar and Scottsdale Land Rover dealership at 6725 E. McDowell. Last November, Certified Benz & Beemer purchased the property from Penske and moved its pre-owned luxury-auto business from Mesa to McDowell.

"We started out in Mesa back in 2006, and we had 30 cars and 10 employees," manager Normand Neal said.

"Today, we have about 200 cars and over 40 employees, and we're estimating our annual sales this year to be about $45million."
A Scottsdale address better suits the business because of its focus on luxury autos, he said.


New residential

Chason Development, an upstate New York apartment developer, has purchased from Pitre Properties Ltd. a 5-acre site at the northwestern corner of McDowell and 68th Street. What was once an auto dealership will be transformed into a high-end apartment complex.

Zoning attorney John Berry said Chason plans to invest $25million in the project, which will include 220 units in one-, two- and three-story buildings, and reuse the existing parking garage.

The units along McDowell will feature stoops, or porches, with steps to bring the "activity out front."

"This is something we haven't seen in Scottsdale yet," Berry said.

The project would provide access to the nearby canal and could include landscaping the canal, he said.

In the meantime, Mark-Taylor expects to begin demolition next month to make way for its 536-unit luxury-apartment complex on 27 acres at the southeastern corner of 74th Street and McDowell.
The project represents a $75 million investment, and rents will average about $1,200 a month, said Scott Taylor, Mark-Taylor's president.
The project already has spurred commercial redevelopment in the area.

Fry's spokeswoman JoEllen Lynn said the Fry's store on McDowell west of Hayden Road will be remodeled and expanded in anticipation of the increased population in the area.

Work should begin in June with completion slated for January.

SkySong

Employment at SkySong has reached more than 1,000, and it has generated more than $397million in economic impact for the city since its inception, according to a new report from the Greater Phoenix Economic Council.

The complex, at the southeastern corner of Scottsdale Road and McDowell, now includes more than 70 companies and has reached 97 percent occupancy.

The foundation expects to have a third office building and a 325-unit apartment complex under construction at SkySong in the coming months.

Construction permits should be obtained within 90 days for the apartments, said Don Couvillion, vice president of real estate for the ASU Foundation.

Pre-leasing has begun for the third office building, SkySong III, he said.

By Edward Gately, The Republic|azcentral.com Feb 23, 2012


Investors have eye on McDowell Corridor - USATODAY.com

Investors have eye on McDowell Corridor - USATODAY.com

Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street.

It was standing-room only at a recent meeting of the Scottsdale City Council Subcommittee on Economic Development, where project representatives gave updates on their plans to kick-start revitalization on McDowell.

Residents learned that there already is new investment in the area and that more is on the way. In all, the corridor has attracted about $138million in private investment money in the past two years, said Jim Mullin, the city's economic-vitality director.

Those investments include apartment projects by Mark-Taylor and Chason Development, Chapman Ford's continued expansion, Fry's upcoming renovation, Comerica Bank, Chase Bank's expansion, Certified Benz & Beemer, and Paul's Ace Hardware renovation.

"There are two properties in escrow that, when announced, will bring the total to $150million, all since the city's Economic Development Department reorganization in November 2010," Mullin said.

That total doesn't include two major projects planned at SkySong, the Arizona State University Scottsdale Innovation Center.

And rising above it all could be an elevated trail in the center of McDowell that would go from the Indian Bend Wash just east of Miller Road to 64th Street at Papago Park and could include a 3,000- to 4,000-seat amphitheater at Papago Park. The proposal could be considered by voters in a bond proposal next year.

Current and future investments are aimed at bringing the McDowell Corridor "back to where it wants to be," Mullin said.

Mayor Jim Lane said there are no subsidies from the city in any of the projects involving that $138million investment.

New dealership

In 2008, Penske Automotive Group Inc. closed its Scottsdale Jaguar and Scottsdale Land Rover dealership at 6725 E. McDowell. Last November, Certified Benz & Beemer purchased the property from Penske and moved its pre-owned luxury-auto business from Mesa to McDowell.

"We started out in Mesa back in 2006, and we had 30 cars and 10 employees," manager Normand Neal said.

"Today, we have about 200 cars and over 40 employees, and we're estimating our annual sales this year to be about $45million."
A Scottsdale address better suits the business because of its focus on luxury autos, he said.


New residential

Chason Development, an upstate New York apartment developer, has purchased from Pitre Properties Ltd. a 5-acre site at the northwestern corner of McDowell and 68th Street. What was once an auto dealership will be transformed into a high-end apartment complex.

Zoning attorney John Berry said Chason plans to invest $25million in the project, which will include 220 units in one-, two- and three-story buildings, and reuse the existing parking garage.

The units along McDowell will feature stoops, or porches, with steps to bring the "activity out front."

"This is something we haven't seen in Scottsdale yet," Berry said.

The project would provide access to the nearby canal and could include landscaping the canal, he said.

In the meantime, Mark-Taylor expects to begin demolition next month to make way for its 536-unit luxury-apartment complex on 27 acres at the southeastern corner of 74th Street and McDowell.
The project represents a $75 million investment, and rents will average about $1,200 a month, said Scott Taylor, Mark-Taylor's president.
The project already has spurred commercial redevelopment in the area.

Fry's spokeswoman JoEllen Lynn said the Fry's store on McDowell west of Hayden Road will be remodeled and expanded in anticipation of the increased population in the area.

Work should begin in June with completion slated for January.

SkySong

Employment at SkySong has reached more than 1,000, and it has generated more than $397million in economic impact for the city since its inception, according to a new report from the Greater Phoenix Economic Council.

The complex, at the southeastern corner of Scottsdale Road and McDowell, now includes more than 70 companies and has reached 97 percent occupancy.

The foundation expects to have a third office building and a 325-unit apartment complex under construction at SkySong in the coming months.

Construction permits should be obtained within 90 days for the apartments, said Don Couvillion, vice president of real estate for the ASU Foundation.

Pre-leasing has begun for the third office building, SkySong III, he said.

By Edward Gately, The Republic|azcentral.com Feb 23, 2012


Investors have eye on McDowell Corridor - USATODAY.com

Rising sales point to a stronger year for housing

WASHINGTON - The housing market is flashing signs of health ahead of the spring-buying season.

Sales of previously occupied homes are at their highest level since May 2010. More first-time buyers are making purchases. And the supply of homes fell last month to its lowest point in nearly seven years, which could push home prices higher.

Sales have now risen nearly 13 percent over the past six months. While they are still well below the 6 million that economists equate with a healthy market, the gains have coincided with other changes in the market that suggest more sales are coming.

"The trend is clearly upward," said Ian Shepherdson, chief U.S. economist at High Frequency Economics.

The National Association of Realtors said Wednesday that re-sales increased 4.3 percent last month to a seasonally adjusted annual rate of 4.57 million.

Single-family home sales rose 3.8 percent. And the number of first-time buyers, who are critical to a housing recovery, increased slightly to make up 33 percent of all sales. That's still below 40 percent, which tends to signal a healthy market.

One concern is that the market is still saturated with homes at risk of foreclosure, which lower broader home prices. Those increased to make up 35 percent of sales.

But the supply of homes on the market has plunged to 2.3 million, the lowest since March 2005. At last month's sales pace, it would take more than six months to clear those homes, consistent with a healthy housing market. Fewer homes on the market could help boost prices over time.

Most economists said the January report was encouraging, especially when viewed with other recent positive housing data.

Mortgage rates have never been lower. Homebuilders are slightly more hopeful because more people are saying they might be open to buying this year -- and they responded in January to that interest by requesting more permits to construct single-family homes.

"The rise in existing-home sales in recent months adds to the indication from housing starts, building permits and homebuilder sentiment that the sector has improved modestly since the middle of 2011," said John Ryding, an economist at RDQ economics.

Much of the optimism has come because hiring has picked up. More jobs are critical to a housing rebound. In January, employers added 243,000 net jobs -- the most in nine months -- and the unemployment rate fell to 8.3 percent, the lowest level in nearly three years.

Analysts caution that the damage from the housing bust is deep and the industry is years away from fully recovering. Since the bubble burst, sales have slumped under the weight of foreclosures, tighter credit and falling prices.

Many deals are also collapsing before they close. One-third of Realtors say they've seen at least one contract scuttled over the past four months. That's up from 18 percent in September.

Realtors say deals are collapsing for several reasons: Banks have declined mortgage applications. Home inspectors have found problems. Appraisals have come in lower than the bid. Or a buyer suffered a financial setback before the closing.

Sales rose across the country in January. They rose on a seasonal basis by nearly 9 percent in the West, 3.5 percent in the South, 3.4 percent in the Northeast and 1 percent in the Midwest.

by Derek Kravitz - Feb. 22, 2012 06:15 PM Associated Press



Rising sales point to a stronger year for housing

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