Daily News from the desk of Nicholas L Miner, CCIM – August 6, 2009

Here are the news stories you might find interesting today:

Visions in works for huge development

Recession taking toll on dentists Valley-wide

More CRE Investment Projected for Remainder of Year
Foreign real estate investors project their investments for the rest of 2009 will substantially out-strip investments completed year-to-date, while equity investors expect they will place seven times more than their current year-to-date investments, according to the results of a recent survey released by the Association of Foreign Investors in Real Estate.

MARKET SNAPSHOT: Phoenix Will Rebound Once Employment and Population Growth Occur
Phoenix – With rising unemployment – projected to reach 10.25 percent in 2010 – and greatly reduced home prices, Phoenix’s apartment market fundamentals have deteriorated significantly.

Apartment Vacancies Continue Higher; South Leads the Way

National multifamily vacancy rates in the second quarter 2009 was 10.6%, according to the Department of Commerce’s Census Bureau. The Census Bureau said the rental vacancy rate was higher than the second quarter 2008 rate (10%) and higher than the rate…

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MBA: Mortgage applications rise as interest rates fall

A decrease in interest rates boosted mortgage applications during the week ended July 31.

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Private businesses cut 371,000 jobs in July, far fewer than in June

The private sector in the United States shrank by 371,000 jobs in July, according to a report by payroll firm ADP.

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Phoenix companies get $99.8 million in stimulus money for electric vehicle network

Electric Transportation Engineering Corp. and ECOtality Inc. will be getting a $99.8 million stimulus grant and partnering with Nissan Motor Co. Ltd. to roll out an electric vehicle pilot program in Arizona and other U.S. cities.

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EV charger manufacturing facility could add 750 jobs in Phoenix

When electric vehicle charging stations start cropping up around the Phoenix area, about 750 new workers will be developing a network that could one day span the country.

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Phoenix NAP brings in partner for data center

Phoenix NAP will bring in partner and tenant EC Suite to its planned data center.

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Planned Fiesta complex not what Mesa wanted

A plan to build a multi-family, senior apartment community instead of a high-end condominium/hotel/retail complex near Fiesta Mall isn’t exactly what Mesa City Councilman Dennis Kavanaugh envisioned to help revitalize that area in his district.

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