Monday, July 18, 2016

Scottsdale pays $4M for desert home, lets seller stay rent-free for life

Scottsdale taxpayers will soon be the owners of a secluded home surrounded by the city's expansive McDowell Sonoran Preserve, but only one resident will have the ability to live there.

The Scottsdale City Council on July 5 unanimously approved a $4 million purchase of the five-acre property — more than $1.4 million above the city's appraised value — including a provision in the contract allowing the seller to remain there for the rest of his life.

Read more... http://www.azcentral.com/story/news/local/scottsdale/2016/07/18/scottsdale-pays-4m-desert-home-lets-seller-stay-rent-free-life/86981714/

Sunday, July 10, 2016

Land, land everywhere in Phoenix but not a lot to build on

Metro Phoenix is running out of land — land ready for new homes, that is.

There are, of course, thousands and thousands of acres of vacant land in metro Phoenix. But as new-home sales continue to rebound in the Valley, the supply of lots prepped and ready for houses is shrinking to the lowest level in many years.

Read more... http://www.azcentral.com/story/money/real-estate/catherine-reagor/2016/07/07/land-land-everywhere-phoenix-but-not-lot-build/86773988/

13 empty big-box store buildings in metro Phoenix

For the past three years, new and recovering retailers — and developers willing to take risks on adaptive-reuse projects — have slowly filled some of the Phoenix area's scores of vacant big-box store buildings.

The bad news? Tricky spaces still outnumber willing tenants by far, according to local real-estate firms, and the popularity of online shopping continues to drive physical retailers out of town.

Read more... http://www.azcentral.com/story/news/local/phoenix/2016/06/20/13-empty-big-box-store-buildings-metro-phoenix/85698836/

Monday, July 4, 2016

Brexit could be boon for Arizona homebuyers, owners

Britain's vote to exit from the European Union  hurt U.S. stock markets temporarily, but it could help homebuyers.

Both stock prices and U.S. interest rates started falling June 24, the day after Brexit.

Read more... http://www.azcentral.com/story/money/real-estate/catherine-reagor/2016/07/02/brexit-could-boon-arizona-homebuyers-owners/86533062/

Arizona companies capitalize on low-interest-rate wave

Like homeowners seeking to refinance a mortgage, several of Arizona's largest companies have made moves lately to capitalize on attractive interest rates. And with the Brexit vote possibly ushering in a stretch of even lower rates, corporate financial officers could be staying plenty busy.

Read more... http://www.azcentral.com/story/money/business/consumers/2016/06/30/arizona-companies-capitalize-low-interest-rate-wave/86450770/

Real Estate News