Tag Archives: Urban Life

Elvis Presley, Johnny Cash music publisher’s estates look to sell prominent Phoenix land

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.

arizona, commerical,real,estate,elvis presley,president richard nixon,

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.

Tuft & Needle Buys Historic Paper Heart Building on Grand Avenue

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.

historic,phoenix,homes,real,estate,buy,sellReal 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.

10 Housing Markets to Envy in 2017

DAILY REAL ESTATE NEWS | THURSDAY, DECEMBER 01, 2016

Housing Forecast Chart for 2017The 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®’s 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. PhoenixMesaScottsdale, 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 GreensboroHigh Point, N.C.; Akron, Ohio; and BaltimoreColumbiaTowson, Md., experiencing the largest gains.  Likewise, 46 markets are expected to see a slowdown in price growth of 1 percent or more with LakelandWinter Haven, Fla., DurhamChapel 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; ProvoOrem, Utah; Seattle. and OxnardThousand OaksVentura, Calif.)

Are You Ready For A Big First Friday, 100 Years in Phoenix, and Final Four Fun October First Friday?!

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. Rides and more info can always be found on Artlink’s website.

Chaos Theory 17

Legend City Studios is proud to present the 17th 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

 7th St/Coronado, Artists, Arts, Arts & Culture, Downtown District, First Fridays, Grand Ave, Roosevelt

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 16th 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. 6th 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 3rd st. and Roosevelt

REPORT: Phoenix Ranked Second-Best Metro Area For Homeowners

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.

phoenix,az,market report,real estate,historic,bestPortland, 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.”

Strong home-price appreciation over the past five years is a common thread in Phoenix, Atlanta and Las Vegas. The Twin Cities’ best housing attributes are strong home-price appreciation and a dearth of foreclosures.

Hartford, Connecticut ranks last because of high carrying costs: It has above-average property tax, energy, homeowners’ insurance and maintenance fees. The New York City metro area is second-worst due to high property taxes, minimal home-price appreciation and expensive maintenance costs. Only Los Angeles (fourth-worst) prevented a northeastern sweep of the bottom five (Providence is third-worst and Buffalo is fifth from the rear), according to the report.

“Major cities in the middle of the country did really well in this ranking,” Bell said in a press release. “Out of the top 15 metro areas, only one is within 250 miles of an ocean. Homeowners in America’s largest coastal cities face a number of challenges, ranging from sky-high mortgage payments gobbling up an outsized portion of homeowners’ incomes to high property insurance rates, especially in hurricane-prone areas, and our ranking reflects that.

It’s a terrific time to buy or sell a home in the Phoenix Metro area.

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Mortgage Rates Hover Near All-Time Low

HISTORICPHOENIXDISTRICTS.COM DAILY REAL ESTATE NEWS | FRIDAY, JULY 01, 2016

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. 

Source: Freddie Mac

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It’s never been a better time to buy a home. Money is inexpensive but that doesn’t mean you should spend a lot, unless you’re wealthy, of course. Call Laura B. for a free consultation on buying a home in any one of the Historic Phoenix Districts, historic adjacent, Uptown, Midtown, Downtown, Scottsdale, Biltmore, Paradise Valley, Arcadia or Surrounding suburbs.

Phoenix Approves Sale of Historic Downtown Building

The city of Phoenix will sell a 101-year-old historic downtown building to a developer for $2.28 million.

Jun 23, 2016

Barrister Building,downtown Phoenix.historic

Barrister Building in downtown Phoenix sale approved and will be renovated

The Arizona Republic reports that the city-owned Barrister Building, which sits on the corner of Jefferson Street and Central Avenue, will be sold to Crescent Bay Development Services LLC. The developer plans to renovate the century-old building, which the city bought in 1990.

Development plans include at least 88 condos in the existing six-story building as well as two new buildings.

This is the latest effort to renovate and preserve the historic building, which originally opened in 1915, and at one time was the tallest building in the state. The city had approved another project plan two years ago but it eventually fell through.

The building was long home to the Jefferson Hotel, featured in Alfred Hitchcock’s 1960 movie “Psycho.”

“We’re really excited about the project,” said Geoff Beer, a principal with Scottsdale-based Crescent Bay.

Beer said plans calls for construction of two new six-story buildings to go along with the six-story, 100-year-old Barrister building. The Jefferson Hotel/Barrister building was built in 1915.

Beer expects condos to be priced between $250,000 and $650,000 with an average unit size of 1,170 square feet. He said Crescent’s bid calls for buying the city-owned building for $2.28 million. It will also include some ground level retail and restaurant space.

Phoenix could reimburse Crescent Bay up to $1.9 million for infrastructure and preservation improvements, according to the Republic.

Lou Malnati’s Pizzeria in Phoenix Opening May 16th

Dominic Armato, The Republic | azcentral.com 12 p.m. MST May 11, 2016

Get a first look before the new location opens Monday

On Monday, Lou Malnati’s Pizzeria, one of the most famous purveyors of deep-dish pizza, will open up shop at Uptown Plaza, at Camelback Road and Central Avenue in Phoenix.

lou malnatis,pizza,phoenix,camelback,uptownI’m not sure I can defend it, but I sure do love it.

Deep-dish pizza lives at the intersection of brash decadence and pure gluttony.

Take the simple elegance of a Neapolitan pizza, Americanize it and jam it in a pan, then bury it under a pile of cheese and chunky tomato sauce and you have Chicago’s most famous contribution to the world pizza pantheon. Though short on sophistication, it’s a dish that’s long on pure joy.

And on Monday, May 16, Lou Malnati’s Pizzeria, one of the most famous purveyors of deep-dish pizza, will start serving it in Phoenix, at Camelback Road and Central Avenue.

This is one of Chicago’s titans of deep dish, and the chain’s new restaurant at Uptown Plaza will be the 46th branch, but the first outside the greater Chicagoland area.

Though Pizzeria Uno is the first choice of tourists visiting Chicago, Lou Malnati’s always seemed to me the more widely respected establishment among locals, opened by and named for the son of Rudy Malnati Sr., former pizza chef at Uno. The Malnatis are among the first families of Chicago deep-dish pizza, and their claim to its creation is as credible as any other.

Why Phoenix? 

uptown plaza,midcentury,pizza,malnatis“We ship a lot of pizza to Phoenix,” says Mark Agnew, the president of Lou Malnati’s, who started working at the restaurant when he was 15. “We wanted a market where we felt like people know who we were.”

Malnati’s isn’t merely spreading its seed to the wind with a franchising agreement, as Pizzeria Uno did in the 1990’s with disastrous culinary consequences.

Rather, they’re keeping the business in the family, taking care to ensure the pizza at this Malnati’s is a fair representation of the pizza they serve back home.

  • All of the ingredients used at the Phoenix Malnati’s will be the same as those used in Chicago.
  • Five members of the Malnati’s management team have relocated to Phoenix.
  • Nearly half the staff has trained at the restaurants back East.

Perhaps most importantly, Malnati’s has chosen the fertile soil of a city awash with Chicago expats to plant its first remote location, hoping to draw the kind of ebullient crowds that welcomed Portillo’s to the Valley in 2013.

Early Malnati’s memories

For the record, my feelings about Portillo’s are somewhat reserved. Though a venerable Chicago institution, I think Portillo’s product is less superlative than it is consistently solid. But I have no such reservations when it comes to Malnati’s.

It wasn’t always this way. Growing up in Chicago, we were a Gino’s East family, routinely feasting on miraculous pies served from deep within the bowels of its original location, a graffiti-covered dungeon of a building just off Chicago’s Magnificent Mile. When we pulled up one day to discover the building razed and Gino’s relocated to the former home of a Planet Hollywood, we jumped ship and consoled ourselves in the embrace of a pizza that — if I’m being honest with myself — was probably a little better.

That was Lou Malnati’s deep dish. We never looked back.

A different look

The look of the Phoenix Malnati’s may surprise fans of some of the older locations.malnatis pizza,new,phoenix,uptown,restaurantsuptown plaza,phoenix,midcentury,pizza

“We try to be a local pizzeria,” Agnew explains. “Each of our restaurants looks different, and we try to fit in.”

That means embracing the Mid-century Modern style of Uptown Plaza’s renovation, complete with neon lights, aquamarine tiling, Fiestaware plates and Googie design. It also means welcoming local charities during an invitation-only soft opening to raise money for Chrysalis’ domestic violence shelters, Alice Cooper’s Solid Rock teen center and Phoenix Children’s Hospital.

The bright colors and wild look of the dining room are a far cry from the original Lou Malnati’s, which opened in Lincolnwood, Ill., in 1971. Folks new to Malnati’s won’t know the difference, but to trigger the nostalgia synapses of old-time Chicagoans, the food will need to carry the day.

What’s deep dish? 

We’re talking about a pizza that Jon Stewart famously denigrated as a “casserole.” Though it was meant as an insult, even as a fan of deep dish, it’s a characterization that I have a hard time refuting. We are, after all, talking about your choice of toppings mixed with an abundance of melted cheese and covered with a thick layer of bright, chunky tomato sauce, all stuffed into a dense, crunchy crust that’s buttery and — for reasons unknown — almost always undersalted.

In a national scene now dominated by Chris Bianco’s artfully crafted legacy, deep dish can seem like a dense, clumsy oaf of a pizza whose most compelling feature is its unashamed sense of abandon. But its coarse appearance belies the subtlety within. When it’s on, there is a beguiling, gooey charm in a slice of deep dish. Malnati’s, in particular, challenges the notion that a single slice can feed a family of six. It sure isn’t light, but two or three slices can slide right down a lot quicker than you might think.

In just a few days, families will begin lining up for a taste of Lou Malnati’s deep dish. Here’s hoping the famed pizza lives up to their expectations.

Details: Uptown Plaza, 100 E. Camelback Road, Phoenix. loumalnatis.com.

Mansion by Former Frank Lloyd Wright apprentice is on the market

This Phoenix mansion designed by former Frank Lloyd Wright apprentice is on the market for $8.75 million

May 6, 2016, 8:15am MST

A Phoenix mansion designed by Vernon Swaback, one of the last living former apprentices to famed architect Frank Lloyd Wright, is for sale. View pictures.

And the 13,365-square-foot home can be yours for a cool $8.75 million, one of the priciest homes for sale in the city of Phoenix, according to Realtor.com.

The property at 15 Biltmore Estates Drive sits on about 1.67 acres and includes seven bedrooms and 10 bathrooms. The home abuts the Adobe Golf Course in the Biltmore neighborhood and features resort-like grounds, custom-made limestone columns and surfaces as well as Brazilian hand-scraped cherry wood floors, an expansive master suite, bar, pool and whole slew of other high-end amenities and features.

The property previously was on the market with a price higher than $9 million, but it was de-listed roughly a year ago before going back up for sale earlier this year.