Monthly Archives: July 2018

New Metro Phoenix Condo Sales Soar, Will Prices Keep Climbing?

Is the Phoenix Metro Condo Boom Back?

July 31st, 2018

ashland,place,district,regency,house,neighborhood,historic,midtown,phoenix,az,historic,regency,house,district,downtown,agent,real estate,condos,luxury,condos,for sale,neighborhoodA stabilizing housing market and population gains will help Arizona’s economy expand faster than the nation’s again this year, though the gap will narrow, according to a forecast released April, 2018. Condo sales in Phoenix, AZ booming as a result.

These are the key findings:

Another year of solid growth: Arizona’s economy, which expanded 2.6 percent in each of the past two years, is poised to grow 2.7 percent this year, according to the forecast by BMO Capital Markets.

Wages are a big part of it: Personal income in Arizona has historically lagged, but the state seems to be catching up a bit. Wage growth in Arizona, up 7.4 percent over the past four quarters, is running at one of the fastest paces in the nation, according to the report.

historic,real,estate,high rise,luxury,phoenix,agent,regency house,central,ave,phoenix,azThen there’s housing: Two of Arizona’s largest employment sectors, real estate and government, have exerted a drag on the state’s economy. However, heady population gains and a low foreclosure rate bode well for real estate.

The Arizona housing market is still battling the effects of the 2008 housing crisis but could finally be normalizing after a prolonged recovery,” wrote economists Michael Gregory and Priscilla Thiagamoorthy of BMO Capital Markets in Toronto.

downtown,phoenix,az,historic,district,high rise,condo,real,estate,agent,luxury,central,avenue,pool,cabanaExpanding population helps: Housing and other sectors of the Arizona economy have been aided by an influx of residents for the state.

“If population continues to grow and labor market conditions tighten, the state may have a greater need for housing supply,” and condos are becoming extremely attractive, according to the report.

Arizona’s population recently passed 7 million, with the state adding about 80,000 more net migrants last year.

Another recent report, from the International Franchise Association, identified Arizona as a top-five state for franchising activity this year, an indication that small businesses could do better  partly due to population growth.

U.S. picture improving: Arizona’s gains come against the backdrop of a strengthening U.S. economy.

The nation’s economy grew 1.5 percent and 2.3 percent in 2016 and 2017, respectively. BMO expects that will improve to 2.6 percent this year.

“The dominant (national) theme is improving manufacturing prospects prodded by increasing business investment stoked, generally, by late-cycle capacity constraints and tax cuts,” wrote Gregory and Thiagamoorthy. “Factories are also benefiting from expanding exports, reflecting stronger global growth and a weaker U.S. dollar.”

If the condo lifestyle is something you’re considering, or, if it’s all you can afford now, please give me a call for  free, no obligation consultation. I specialize and LOVE working with first-time homebuyers and am am FIRM believer that THERE IS NO SUCH THING AS A STUPID QUESTION. I’ll take all the time with you that you need! 

Newly Discovered 1952 Haver House Hits Market in Phoenix

Newly Discovered Historic Phoenix Haver House Hits Market for $450,000, Already Under Contract

July 20, 2018

ralph haver,home,phoenix,historic,haver home,real,estate,agent,historicphoenix,central phoenix,agent,biltmore,haverMid-Century Modern home designed by the noted architect Ralph Haver just landed on the market in central Phoenix for $450,000.

The fully remodeled home was confirmed as a Haver this year.

The sprawling desert metro was Haver’s playground from the 1940s into the ’80s. Over the decades, entire “Haverhoods” in Phoenix, as well as commercial buildings, were designed and built with his signature aesthetic: an open floor plan, exposed beams, vaulted ceilings, and a marriage of indoor spaces and the outdoors.

This home is in Beverly Park, a neighborhood that has long been recognized as a Haverhood.

Along with the home’s prestigious pedigree, it has also been completely remodeled, including the addition of a 436-square-foot owner’s suite in 2016.

It has a total of four bedrooms, three bathrooms, and 1,600 square feet, and all the infrastructure has been updated, including plumbing and electrical. The interiors include newly remodeled bathrooms and kitchen and a distinctly modern minimalist approach, in keeping with the spirit of the home’s design. All the exposed block walls have been coated in Haver masonry wash.

The home is situated only minutes from some of the area’s hippest bars, restaurants, and local attractions, including another Mid-Century Modern architectural gem, the Arizona Biltmore, designed by Frank Lloyd Wright in collaboration with his student Albert Chase McArthur.

5540 N 19TH Street, Phoenix, AZ 85016

Subdivision: Beverly Park
4 Beds, 3 Baths

Square Feet: 1,668
Year Built: 1952
No pool
7,087 sq ft
Aprrox Lot Size Range: 1-7,500

Whether you’re buying or selling a home in Central or Downtown Phoenix, or just have some questions about anything at all in or about any one of the historic districts in Phoenix, I’d be very happy to help you! Just call or email me anytime. THERE IS NO SUCH THING AS A STUPID QUESTION!