Metro Phoenix’s homebuilding recovery didn’t stall in August like it has at least a few times times since the crash – another strong indicator the recovery is finally on. New home permits shot up 78 percent in August from the same month a year ago. That’s a staggering jump in new home construction. Now, before anyone starts worrying about another building boom led by speculators similar to 2005-06’s debacle… Read more »
Property management company P.B. Bell recently announced that a new apartment community called the View at Cascade is expected to open sometime in October. The 187-unit apartment complex is located just below Loop 101 in north Scottsdale and will offer one- and two-bedroom apartments. The apartment complex’s website lays out the various amenities, including 9-foot ceilings, quartz countertops and walk-in closets… Read more »
The Fed’s recent decision not to raise interest rates was a relief for many in the market, while others thought that a raise in rates was necessary.However, according to Chris Macke, managing director of research and strategy at American Realty Advisors, if and when the Fed does raise rates, it will have a nominal impact on the real estate market… Read more »
San Diego-based Douglas Allred Co. is looking at expanding its development footprint on Price Road in Chandler by 2 million square feet. Allred already has a 650,000-square-foot, six-building complex at Price and Willis Roads called Park Place. Infusionsoft is among the tenants at the $215 million Park Place development. The development firm is building a seventh building and will soon put forth more plans with the city of Chandler…Read more »
I’m sure you’ve heard it before: This time is different. No, really, this time is different—at least in the apartment market. And by different, I mean there’s a seemingly infinite and insatiable pool of demand for rental units, because Generation Y is huge, with millions of them living at home just salivating at the prospect of moving out. And they have a preference for renting versus owning… Read more »