Daily News from the desk of Nicholas L Miner, CCIM – April 30, 2009

Daily News from the desk of Nicholas L Miner, CCIM

Here are the news stories you might find interesting today:

Falcon Field Park’s future in question

Work restricting traffic along stretch of Bell

Jobless rates rise in all US metro areas

Housing market may be changing course

There may be light at the end of the tunnel when it comes to existing home prices despite another record decline in the latest Arizona State University-Repeat Sales Index.

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Long lines for Pro’s Ranch Market in Mesa

Speeches and Mariachi music flavored the opening of the Pro’s Ranch Market Wednesday in Mesa, with long lines forming outside the Hispanic grocery and cars overflowing onto neighborhood side streets.

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NALS Steps Up Activity With 308-Unit Buy

GLENDALE, AZ-The Scottsdale investor pays $23.3 million for Sage Stone at Arrowhead, and wants more class A product.

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Phoenix, Detroit post worst job losses among large markets

Phoenix has lost more jobs over the past year than Detroit, according to new federal job statistics.

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SkySong celebrates first year of business

SkySong, the mixed-use development designed by Arizona State University, is celebrating its one-year anniversary Wednesday amid more businesses that have opted into the center.

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Two Valley projects among top-selling master-planned communities

Two communities developed in the Phoenix metro area were among the best selling master-planned communities in the country in 2008. National real estate consulting and research firm RCLCO released their findings Wednesday of the top 10 selling communities.

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ADOT gets first stimulus money

The Arizona Department of Transportation is one of the first state agencies to begin awarding contracts as a result of the American Recovery and Reinvestment Act of 2009.

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Mich., Ariz. Banker Looks To Divest

Capitol Bancorp Ltd. in Lansing, MI, and Phoenix, AZ, has hired Keefe, Bruyette & Woods as a financial advisor to evaluate divestiture opportunities.

Capitol Bancorp is a $5.8 billion national community banking company, with a network of 17 separately chartered banks in as many states. It is the holder of the most individual bank charters in the country.

The parent company listed control of some $228 million in nonperforming real estate assets at year-end, of which 21% ($48 million) was commercial real estate.

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