Fixed-rate mortgages this week dropped to their lowest averages of the year, which analysts attribute to the fallout from last week’s “Brexit” vote.
The 30-year fixed-rate mortgage averaged 3.48 percent this week, only 17 basis points from its all-time record low of 3.31 percent in November 2012, Freddie Mac reports.
“In the wake of the Brexit vote, the yield on the 10-year U.S. Treasury bond plummeted 24 basis points,” says Sean Becketti, Freddie Mac’s chief economist. “This extremely low mortgage rate should support solid home sales and refinancing volume this summer.”
Freddie Mac reports the following national averages for the week ending June 30:
30-year fixed-rate mortgages: averaged 3.48 percent, with an average 0.5 point, falling from last week’s 3.56 percent average. Last year at this time, 30-year rates averaged 4.08 percent.
15-year fixed-rate mortgages: averaged 2.78 percent, with an average 0.4 point, dropping from last week’s 2.83 percent average. Last year at this time, 15-year rates averaged 3.24 percent.
5-year hybrid adjustable-rate mortgages: averaged 2.70 percent, with an average 0.5 point, falling from last week’s 2.74 percent average. A year ago, 5-year ARMs averaged 2.99 percent.
When ranking Arizona’s top 50 public high schools based on 2014 SAT test scores, the majority in the top 10 are charter schools.
So we crunched the numbers again to look only at traditional, non-charter public high schools to see which are the best scoring school districts in the metro Phoenix area.
It’s no surprise that public school districts in metro Phoenix tend to perform better in the outlying areas, especially in the East Valley, such as in Chandler and Gilbert. But it was surprising to see how close some of the other school districts are when comparing their average 2014 SAT scores.
SAT test scores are a good measure of college readiness, according to the College Board, which administers the test nationwide.
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Camelback Mountain is prominently seen from many homes in the Historic Arcadia Neighborhoods
I personally lived in Arcadia starting in 1989 as the first house I purchased was in this eclectic neighborhood. I had a stunning view of Camelback Mountain in my back yard like so many homes in Arcadia do. In fact, you’d be hard pressed to find a home that doesn’t have a view of Camelback Mountain, at least to some degree. I can attest to all the wonderful attributes Arcadia has to offer but don’t take my word for it; get in your car and go cruise the area. You’ll fall in love with it.
Arcadia is bounded by 44th Street to 68th Streets and from Indian School Road to Camelback Mountain. Immediate surrounding areas have more recently been referenced as Lower Arcadia or the Arcadia area but the true Arcadia corridor begins at the corner of 44th Street and Indian School Road going north and east from there. Contrary to many people trying to ride on the “Arcadia” name, there is indeed a true, defined Arcadia Corridor.
Arcadia neighborhood is not officially a historic district and its eastern edge is in the City of Scottsdale but Arcadia has more than earned its huge place in Phoenix history.
Arcadia is one of the most desirable and priciest addresses in Phoenix. The homes range from small ranch houses under 1,000 Square feet to stunning luxury estates that sit on five acres with a lot of in-between. You’ll find a wide variety of architectural styles from sprawling 4 to 5-bedroom ranches built in the postwar era to Revivals and Pueblo-style homes dating to the late 1920’s and early 1930’s
The neighborhood is surrounded by original luxury guest resorts along Camelback Road like the Royal Palms and is walking distance to many trending restaurants are bars such as The Vig, LaGrande Orange Grocery and Pizzeria, Postino’s Wine Cafe, Zipps, The Arcadia Tavern, the famous Pete’s Fish and Chips and so much more! Eating and drinking your way around Arcadia is fun and can take some time.
Many people now refer to Arcadia as Midtown as it’s in the middle of everything superb and its overall location is in the center of it all. Sky Harbor Airport is just a hop and a skip away as is Biltmore Fashion Park, Fashion Square in Scottsdale and Paradise Valley along with a plethora of fantastic golf courses! Downtown and Central Phoenix is just a very short jaunt as is I-10, the Loop 202, the 51 and the 143.
Arcadia Park, G.R. Herberger Park, Camelback Mountain (and its hiking trails) along with easy access to the canal gives many options for hiking, jogging, biking and walking.
Arcadia is also known for its top tier public schools (some of the best in the state) such as Hopi Elementary School, Ingleside Middle School and Arcadia High School in the Scottsdale Unified School District making it an extremely family friendly community. There are also private schools in the area.
This is the type of neighborhood where the neighbors know each other, walk their dogs and are out with their children enjoying the tranquility this wonderful neighbor offers!
Arcadia homes have character, are well-kept and have high property values as the neighborhood is adjacent to the upscale suburbs of Paradise Valley, the Biltmore area, Scottsdale and North Central Phoenix. Most lawn have lush, green lawns, custom landscaping, palm trees and citrus trees galore!
Built on former citrus groves, Arcadia is known for well-irrigated, mature landscaping. Several yards prominently feature orange, lemon and grapefruit trees as reminders of the area’s past. The area used to be occupied by citrus farmers from 1919 to the mid-1950’s. In the mid-1950’s, the rest of Phoenix caught up with the farms and the area suburbanized with characteristic ranch homes on large lots. Arcadia High School serves and derives its name from the neighborhood.
The film, Everything Must Go, takes place in Arcadia.
In 2002, CNNMoney voted Arcadia as one of the “Best Places To Live” stating:
In stark contrast to Ahwatukee’s desert foliage are the lush green lawns of Arcadia, a neighborhood that sits on the Phoenix and Scottsdale city line. Arcadia is a former orange grove with its own irrigation system, and rows of citrus trees line its blocks of quaint homes built in the 1950’s and 1960’s on large lots.
Because Arcadia is so highly regarded for its greenery and high-performance schools, which are in the Scottsdale system, prices are on the high end: Starter homes begin at $300,000. Homeowners tend to do a lot of remodeling, adding much diversity to the once similar-looking homes; it’s not uncommon to see a country cottage adjacent to a Spanish hacienda. Residents brag about being close to Scottsdale’s high-end shopping, a world-class resort, arts centers and good restaurants, as well as downtown Phoenix.
I couldn’t agree more. After all, living in Arcadia for so many years, I’m hooked.
The City of Phoenix defines Downtown as the area between 7th Street and 7th Avenue, from McDowell Road on the north to Buckeye Road on the south. However, the majority of downtown development is concentrated in the smaller area surrounding the intersection of Washington St. and Central Avenue. Downtown Phoenix is one of a the few major business districts in the city and is the central business district of the City of Phoenix, Arizona.
It’s located in the heart of the Phoenix metropolitan area or ‘Valley of the Sun’ with a large variety of designated historic districts housing some classic, vintage homes attracting people from all walks of life.
Phoenix, being the county seat of Maricopa County and the capital of Arizona, serves as the center of politics, justice and government on the local, state and federal levels. The area is a major center of employment for the region, with many financial, legal, and other national and international corporations housed in a variety of skyscrapers. Major arts and cultural institutions also call the area home. Downtown Phoenix is a center of major league sports activities, live concert events, and is an equally prominent center of banking and finance in Arizona. Regional headquarters for several major banks, including JP Morgan Chase, Wells Fargo, US Bank, Bank of America, Compass Bank and MidFirst Bank are all located within or close proximity to the area.
A Little History of Downtown Phoenix
In 1870, a meeting was held to select a town site for the influx of pioneers coming to the recently recognized town of Phoenix. 320 acres were purchased for $50 raised by popular subscription. This original site, the whole of the town of Phoenix in that day, encompasses what would presently be the Downtown Core, bordered by Van Buren Street south to Jackson Street, and Seventh Street to Seventh Avenue.
With the first survey of the new town, streets were laid out in a grid, with Washington Street as the main east-west thoroughfare. The north-south streets originally bore Native American tribal names, but were changed to more easily remembered numbers, with everything east of Center Street (later Central Avenue) named as streets and everything west as avenues. The town continued to grow, and was eventually incorporated as a city on February 28, 1881 centered around downtown.
Throughout the 1880’s the newly incorporated city made many strides toward modernization with the construction of one of the first electric plants in the West as well as the opening of the horse-drawn streetcar line. The Phoenix Street Railway system was eventually electrified and expanded to several different lines that connected Downtown Phoenix to other neighborhoods and cities in the Valley. Independence Day of 1887 heralded the arrival first Southern Pacific train. This opened up the economy of the young city, as goods now flowed in and out by train as opposed to wagon. As Phoenix became the center of commerce in the territory, the capital was moved to Phoenix, with temporary offices being set up in Downtown.
The city of Phoenix’s story begins as people from those settlements expanded south, in conjunction with the establishment of a military outpost to the east of current day Phoenix.
The town of Phoenix was settled in 1867, and incorporated in 1881 as the City of Phoenix. Phoenix served as an agricultural area that depended on large-scale irrigation projects. Until World War II, the economy was based on the “Five C’s”: cotton, citrus and cattle, climate and copper. The city provided retail, wholesale, banking, and governmental services for central Arizona, and was gaining a national reputation among winter tourists. The post-World War Two years saw the city beginning to grow more rapidly, as many men who had trained in the military installations in the valley, returned, bringing their families. The population growth was further stimulated in the 1950’s, in part because of the availability of air conditioning, which made the very hot dry summer heat tolerable, as well as an influx of industry, led by high tech companies. The population growth rate of the Phoenix metro area has been nearly 4% per year for the past 40 years. That growth rate slowed during the Great Recession but the U.S. Census Bureau predicted it would resume as the nation’s economy recovered, and it already has begun to do so. While currently ranked 6th in population, it is predicted that Phoenix will rank 4th by 2020. Currently it the 6th most populous city in the United States.
The number of high-rises, mid-rises and low-rises being built, restored and renovated have been absolutely BOOMING in Central Phoenix! These buildings are old mixed in with new and provide amenities galore. Downtown Phoenix is the new home of loft traditions where space and creativity have been merging into stylistic, personalized urban expression. Many industrial buildings have been converted into desirable, luxurious, lofts or condominiums for your taking. If a single-family home is not for you but simple living is, (no yard responsibilities, etc.), then you’ve come to the right place. Or maybe you’re an artist looking to live where you work. I have ideas for you.
Here, you will find real-time, live listings of all Downtown, Central and North Phoenix condos for sale, Urban Lofts for sale, Condos in High-Rises for sale, and pretty much any dwelling type that is not a single-family home. Whether you wish to buy, sell, renovate or design a loft or condominium in Phoenix, HistoricPhoenixDistricts.com and Downtown Life has the property and solution for you.
Downtown and Central Phoenix is fun urban living. It is a series of distinct urban and historical phoenix neighborhoods where neighbors know each other and are constantly welcoming new neighbors as the downtown area continues its growth.
You can walk for coffee, breakfast, lunch, dinner, drinks and entertainment including the First Friday Art Walk, museums, sporting events, shopping, parks and more. It is a place populated by people seeking a way of life that doesn’t require hours of commuting each day. Many people enjoy driving any one of the many Historic Phoenix Districts just to view the architectural designs of the beautiful homes that encompass Phoenix Historic neighborhoods.
While downtown Phoenix grows, you can and experience urban living at its best. No matter what your taste there are homes that will make you happy. Live in an area full of cultural venues and experience the convenience a downtown residence can provide whether in a modern or historic condominium, historic loft, or a townhome. Come be part of downtown life.