Arizona Real Estate Informer

Realty Executives chief named among industry's most influential

Realty Executives CEO Rich Rector "stepped into some big shoes and expanded his residential franchise into a truly international company," according to Realtor Magazine, which named the Arizona resident among the industry's "25 Most Influential Thought Leaders."   More...

Rates on 30-year mortgages rise for 3rd straight week

WASHINGTON - Rates on 30-year mortgages rose for a third straight week as investors viewed improving economic reports as a sign that the Federal Reserve will not quickly cut interest rates.
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New home sales slide

The Valley’s new home market continued to sag in November, as building permits and sales slumped. Builders took out 1,985 permits for homes last month, down 55 percent from the same period a year before, according to the latest Phoenix Housing Market Letter released Thursday by real estate analyst RL Brown.  More...

Forbes Sneak Peek 2007

Forbes editors and writers take a look ahead at real estate in 2007. Click on the authors to read what they think will be the big trend, hear their unconventional wisdom, be cautioned against misplaced assumptions, check the watch list and get a bold prediction.   More...

Homeowners Cut Prices, Drawing Some Buyers Back

The sales rate for previously owned homes rose in November for the second straight month, an industry group said yesterday, as homeowners eager to unload their properties in a crowded market cut their prices.   More...

To Buy or to Rent?

THE Napa Valley ranch house, built in the 1970s, wasn’t much of a looker. And with a price tag of nearly $1.4 million, it wasn’t cheap either. But its location on Highway 29, the main drag through wine country, on an acre of land in the undeniably quaint town of St. Helena caught the attention of Jocelyn Singh. She had spent the last 12 years driving north from her home in Modesto, Calif., to stay in rental homes and increasingly expensive hotels during her regular wine country retreats.  More...

New Owner Starts Overhaul of $25M Office Buy

PHOENIX-A Hawaii buyer will upgrade its most recent acquisition, the 138,500-sf Concorde Commerce Center --immediately. The new owner is still working out the full cost of the overhaul for the class B building, which it bought for $24.7 million from Opus Real Estate Arizona LLC.  More...

'We've entered a more sustainable period of home sales now...

'We've entered a more sustainable period of home sales now and we expect greater support for prices over time as inventory levels are eventually drawn down.'   More...

Developer pays $265M for GM site

A Scottsdale developer known for high-end housing projects is paying $265 million for the biggest piece of the vast General Motors' proving grounds in east Mesa.

The deal, long-rumored, closed Thursday. It's one of the biggest land deals in the state this year though it doesn't eclipse the approximately $320 million a consortium of buyers paid in a couple of different transactions for more than 9,000 acres in Mobile, a small community in Pinal County.  More...

Surprise won't amend General Plan

Surprise City Council appears to have forfeited its opportunity to amend the General Plan in 2006.

The document, usually updated annually, guides future development in Surprise as well as in a 309-square-mile planning area to the city's north and northwest.  More...