Jan 13, 2017

Land is for sale at the southwest corner of Indian School Road and Central Avenue in midtown Phoenix neighboring Willo Historic District, Encanto-Palmcroft Historic District, FQ Story, Alvarado and Ashland Place districts.

That is one of the busiest intersections in the region and is also on the Metro light rail systems. The land is owned by real estate entities managed by trusts of the Aberbach family.

Richard Nixon and Elvis Presley

Julian J. Aberbach, who died in 2004, was the music publisher for Elvis Presley. Music publishers do deals related to song writing and royalties when compositions are used.

Public records and real estate databases show land at the Indian School/Central land is owned by Aberbach Investments LLC and Vembec LLC.

Those entities are managed by estates for Julian J. Aberbach and his family.

Greg Vogel’s Land Advisors Organization is marketing the land.

The corner was previously home to an AM/PM gas station which is no longer there, parking lots and a Yoshi’s restaurant.

Vogel said the land for sale totals approximately 3 acres with an asking price of $50 per square foot.

Vogel sees the Indian School/Central land as a good spot for a new apartment development.

Julian Aberbach and his late brother Joachim Jean Aberbach were in the music publishing business and forged deals with Elvis Presley, Ray Charles and Johnny Cash.

Julian Aberbach died in 2004 at age 95.

The New York Times outlined in his obituary the business ties to Presley whom he first forged a deal with in 1955. That included telling Presley to hire songwriters to provide him more music.

“I gave Elvis a check for $2,500, an advance against the royalties of his stock ownership,’’ Aberbach said in a 2002 interview with Billboard magazine according to the Times obit. “And he promptly went to the Cadillac dealer and got a pink one.”

Elvis first appeared on the “Ed Sullivan Show” in 1956.

Land Advisors is a leading real estate firm in the state and region. Vogel’s group forged the deal that is bringing Lennar-developed apartments to the northwest corner of McDowell Road and Central Avenue.

by Mike Sunnucks Senior Reporter Phoenix Business Journal

Mattress retail startup and Phoenix cheerleaders Tuft & Needle have purchased an historic and iconic building on Grand Avenue.

Owners JT Marino and Daehee Park bought a 6,000-square-foot building at 750 Grand Avenue, most recently known as the Paper Heart, a performance space, music venue, gallery, coffee shop and bar.

The building opened in the 1960s as a Quebedeaux Chevrolet, and was designed by Victor Gruen, the Austrian architect known as “the father of the American shopping mall.”

The Paper Heart was opened by Scott Sanders in 2000 and ran until the end of 2007. The space was one of the early participants of downtown Phoenix’s First Fridays art walk.

Steph Carrico and JRC, owners of the Trunk Space — a long-standing Grand Ave. music venue that has since moved— were involved in the Paper Heart as well.

Park and Marino heard about the space and its history from the Grand Avenue community, and decided to purchase it to preserve the building and the lower Grand Avenue corridor, according to representatives.

The T&N headquarters is across the street on Grand Avenue.

Marino and Park then established Grand Paper Heart, LLC in fall 2016 to purchase the building, which has a full cash value of $512,200, according to Maricopa County records.

T&N declined to disclose the purchase amount, and are not sure what they plan to do with the building.

“We just want to make sure while we’re investing in this area that the other buildings are preserved,” said company representatives.

Marino and Park were runners-up in the Phoenix Business Journal’s 2016 Businessperson of the Year.

Real estate around Grand Avenue is soaring and many believe it’s the next Roosevelt Row where all cool things happen as part of Garfield Historic District and Roosevelt Historic District. Districts near Grand Avenue like Woodland Historic District and Oakland Historic District are still hidden gems with values increasing more rapidly than other districts. These districts border the core of downtown Phoenix and are walking distance to the State Capitol and other government buildings.

If you’re interested in buying or selling a home in any of these districts or surrounding historic districts, call Laura Boyajian at (602) 400-0008, a Historic Phoenix Real Estate Specialist.

DAILY REAL ESTATE NEWS | THURSDAY, DECEMBER 01, 2016

The national housing market is largely predicted to moderate in 2017, but a handful of metros are expected to beat expectations. In fact, 10 markets are looking like hot-beds for growth in the new year with Phoenix, Arizona being number one.

Realtor.com®’ research team has flagged markets that will likely see average price gains of 5.8 percent and sales growth of 6.3 percent in 2017. Those gains would exceed next year’s anticipated national growth of 3.9 percent in home prices and 1.9 percent in home sales.

As such, real estate professionals in these 10 markets should expect a booming business in 2017. Realtor.com® notes these are the hottest housing markets to watch in the new year, based on price and sales gains:

1. Phoenix–Mesa–Scottsdale, Ariz.

2. Los Angeles-Long Beach-Anaheim, Calif.

3. Boston-Cambridge-Newton, Mass.-N.H.

4. Sacramento–Roseville–Arden-Arcade, Calif.

5. Riverside-San Bernardino-Ontario, Calif.

6. Jacksonville, Fla.

7. Orlando-Kissimmee-Sanford, Fla.

8. Raleigh, N.C.

9. Tucson, Ariz.

10. Portland-Vancouver-Hillsboro, Ore.-Wash.

Why are expectations so high for these 10 markets? Realtor.com®’s research team notes that strong local economies and population growth are helping to fuel sales. Also, the top 10 housing markets have other commonalities, such as relatively affordable rental prices, low unemployment, and large populations of millennials and baby boomers.

Top Housing Trends for 2017

Next year’s predicted slowing price and sales growth, increasing interest rates and changing buyer demographics are setting the stage for five key housing trends:

1. Millennials and boomers will dominate the market – Next year, the housing market will be in the middle of two massive demographic waves, millennials and baby boomers – that will power demand for at least the next 10 years. Although increasing interest rates have prompted realtor.com® to lower its prediction of millennial market share to 33 percent of the buyer pool; millennials and baby boomers will still comprise the majority of the market. Baby boomers are expected to make up 30 percent of buyers in 2017 and given they’re less dependent on financing, they are anticipated to be more successful when it comes to closing.
2. Midwestern cities will continue to be hotbeds for millennials – Midwestern cities are anticipated to continue to beat the national average in millennial purchase market share in 2017 with Madison, Wis.; Columbus, Ohio; Omaha, Neb.; Des Moines, Iowa; and Minneapolis, leading the pack. This year, average millennial market share in these markets is 42 percent, far higher than the U.S. average of 38 percent. With strong affordability in 15 of the 19 largest Midwestern markets, realtor.com^® expects this trend to continue in 2017 even as interest rates increase.
3. Slowing price appreciation – Nationally, home prices are forecast to slow to 3.9 percent growth year over year, from an estimated 4.9 percent in 2016. Of the top 100 largest metros in the country, 26 markets are expected to see price acceleration of 1 percent point or more with Greensboro–High Point, N.C.; Akron, Ohio; and Baltimore–Columbia–Towson, Md., experiencing the largest gains.  Likewise, 46 markets are expected to see a slowdown in price growth of 1 percent or more with Lakeland–Winter Haven, Fla., Durham–Chapel Hill, N.C.; and Jackson, Miss., undergoing the biggest shift to slower price appreciation.
4. Fewer homes on the market and fast moving markets – Inventory is currently down an average of 11 percent in the top 100 metros in the U.S. The conditions that are limiting home supply are not expected to change in 2017. Median age of inventory is currently 68 days in the top 100 metros, which is 14 percent – or 11 days – faster than U.S. overall.
5. Western cities will continue to lead the nation in prices and sales – Western metros in the U.S. are forecast to see a price increase of 5.8 percent and sales increase of 4.7 percent, much higher than the U.S. overall. These markets also dominate the ranking of the realtor.com® 2017 top housing markets, making up five of the top 10 markets on the list (Los Angeles, Sacramentoand Riverside, Calif., Tucson, Ariz., and Portland, Ore.) and 11 of the top 25 (Colorado Springs, Colo.; San Diego; Salt Lake City; Provo–Orem, Utah; Seattle. and Oxnard–Thousand Oaks–Ventura, Calif.)

That’s right – it’s October, it’s fall and it’s beautiful outside. With so many exhibits going on for First Friday, it might be difficult to decide which shows to see, so here are a few we think you will enjoy.

Chaos Theory 17

Legend City Studios is proud to present the 17^th installment of Chaos Theory, hosted by Randy Slack. This ever-popular group show will feature 80 local artists working in a variety of styles and medium, a well as music and light appetizers. Doors will be open from 6 p.m. to 2 a.m., located at 521 W. Van Buren. 

Soul Escape

This multi-faceted exhibit will feature works from several local artists such as Bill Hemphill, Joe Holdren and Scott Wood. Each specializes in a different form of creativity from painting, to furniture, to music and more! Taking place in the historic Ice House, it has been nearly a year since the last show was hosted in this location and Phoenix is happy to see its doors open once again.  Door from 6-10 p.m., located at 429 W. Jackson Street.

Viglietta & Voellmer

First Friday in Downtown Phoenix

Grand Art Haus is proud to present local artists Onna Voellmer and Michael Viglietta. 

This show will display two contemporary styles of work that range in media. This highly anticipated show will not only blend their styles, but allow for each piece to shine and breathe on its own.

If you haven’t made it out the Art Haus yet, this is your reason!  Open from 6-10 p.m. and located at 1501 Grand Ave near Woodland Historic District.

Warbird Press

Join local artists and print masters Jacob Meders and Chelsi Rossi for an exhibition of prints and print making. This show will reflect on the homogenization of indigenous people as well as the selective, alarmist qualities of the violence-addled news media. 

With political undertones, it won’t be a show for everyone, but I encourage you to attend. You just might feel something. Open from 6-10 p.m. and located at The Hive Gallery at 2222 N 16^th Street near Coronado Historic DIstrict.

CRASH

Colton Brock is a name that synonymous with local art. His contemporary street style captures the city sunsets skyward details of an ever pondering mind. His color choices are superbly brilliant and truly harness the essence of what it means to live in such a colorful world. 

Don’t miss this show.  Treeo will open its doors from 6-10 p.m. and is located at 906 N. 6^th Avenue near FQ Story Historic DIstrict.

Bonus: Cact-Us

Yours truly will have his first solo show at the MonOrchid for the month of October. The show will feature a variety of contemporary, pop-art style paintings of the Southwest that capture the idea of what it means to live, work and grow together here in Phoenix. I hope you will join for a colorful night of reflection. Doors will be open from 6-10 p.m. and is located at 3^rd St. and Roosevelt. 

Turnkey homes Phoenix

Do you know what the REAL definition, the LITERAL meaning of “TURN KEY?

Turnkey homes in Phoenix – Most people think it simply means that the home is ready for move-in and it’s so nicely remodeled that you don’t have to do anything but move in and enjoy!

Now, this is definitely true, but here’s the REAL definition, although similar, but more accurate.

It means, you put the key in the door, turn it, open the door and you’re home with nothing to do to the house but enjoy.

Further definition states: Turnkey refers to something that is ready for immediate use, generally used in the sale or supply of goods or services. The word is a reference to the fact that the client, upon receiving the house, just needs to turn the key in the lock and walk in, or, that the key just needs to be turned over to the buyer.

I just completed helping a turn-key client remodel for a 1937 Bungalow in the Camelback Corridor at 1131 E. Fern Drive South and it’s now on the market getting TONS of attention! She’s a sweetheart of a home in a fantastic historic neighborhood!

Contact me, Laura Boyajian at 602-400-0008 for more information or to schedule a showing.

Mike Sunnucks Senior Reporter | Phoenix Business Journal | Sep 19, 2016

An international architecture firm has leased and will renovate a historic mid-century building in Phoenix.

A rendering of the interior

Minneapolis-based Cuningham Group Architecture has leased the Farmers & Stockmens Bank Building at Washington and 50th streets near Papago Park.

The 6,000-square-foot building was built in 1951 by famed Los Angeles architect William Pereira.

He also designed the Transamerica Pyramid in San Francisco, Luke Air Force Base in Glendale, CBS Television City in Los Angeles, the Arizona State Prison in Florence and much of Los Angeles International Airport.

The Washington Street building has a historic designation from the city of Phoenix.

Cuningham Group currently has its Phoenix offices near First Avenue and McDowell Road north of downtown Phoenix.

The architecture firm plans on moving this fall.

“For a firm such as ours that deeply respects good design, it is an honor to make this landmark our home,” said Cuningham Group Principal Nabil Abou-Haidar. “There is a clean-lined simplicity to the building that remains attractive to this day. It is certainly an approach we bring forward in contemporary architecture for our clients, and in our other offices around the world.”

Cuningham’s Phoenix office has approximately 20 architects and designers.

The firm’s project portfolio includes work in South Korea, China as well as Disney’s California Adventure.

Cuningham Group is leasing the 1950s era bank building from owners Mike and Gary Smith. They own Phoenix-based Jokake Companies, which acquired the property and in partnership with the city of Phoenix in 2015.

They restored the building’s exterior.

“We are delighted we were able to save the historic property,” said Jill Clements, president of Jokake Real Estate Services. “There are not many historic buildings left in the Phoenix area. So when we were able to save this one, we were thrilled.

The Smiths are happy to be working with such a prestigious architectural firm as Cuningham Group and look forward to their long-term tenancy at the property.”

Call Laura Boyajian for all of your Historic Phoenix Homes Buying and Selling needs.

Bankrate.com Aug 31, 2016

The Phoenix metro area is the second-best in the nation for homeowners, according to a Bankrate.com report released Wednesday.

Portland, Phoenix, Atlanta, Las Vegas and Minneapolis/St. Paul round out the best metropolitan areas for homeowners, according to the report. Bankrate.com is a leading aggregator of financial rate information and this marks their first time releasing such a report.

The study reviewed eight factors: home affordability; price appreciation; property taxes; homeowners’ insurance, energy and maintenance costs; foreclosures and how rapidly rents rose over the past six years for which data are available.

Phoenix ranked high on the list for several reasons, including strong home-price appreciation, few foreclosures and inexpensive homeowners’ insurance, according to the report.

“Phoenix was one of the best cities in all the categories we looked at,” said Claes Bell, Bankrate.com analyst. “We were looking to see which cities were the best for attainability, sustainability, affordability and if there was a rewarding financial benefit to owning a home in these areas.”

The Phoenix area scores fifth lowest on the scale of rent hedging, which is a way of measuring rent increases compared with the home price appreciation. In Phoenix, house prices have also been rising faster than rents over the past five years, contributing to the Valley’s high ranking. The Phoenix metro area had the tenth highest energy cost among the 50 metro areas, a reflection of high air conditioning bills during the summer months, according to Bankrate.com.

Home values plunged during the housing bust, but now they are recovering, according to Bankrate.com, and the pace of home appreciation in Phoenix in the last five years is second fastest among the 50 largest metro areas.

The greater Phoenix area also has bounced back from the foreclosure crisis. For the last three years the city has had the second lowest foreclosure rate among top metro areas.

“Builders stopped building during the housing bubble and now demand beats out supply,” Bell said. “Phoenix is no different in that way from the rest of the country. What’s different is the property tax rate and the affordability of the home itself. In cities like New York and L.A., housing costs are half to three-quarters of a person’s annual income.”

August 18, 2016
by Courtney McCune

Welnick Marketplace & Liefgreen Seed Co Building

An inside look at Welnick Marketplace sheds insight as downtown Phoenix anxiously waits to find out what the future holds for the renovated Welnick Marketplace and Liefgreen Seed Co. building, PHXTV offers this look back at the history of the 1927 building and the process of restoring it to its former glory.

Big plans are underway for the historic buildings located at West Van Buren Street and North 4th Avenue, very close to Roosevelt Historic District. With the help of historic preservation funds and private investment, these historic buildings are being restored and renovated for public use.