That’s the question we took to several local housing and title company professionals. Here are their responses:
Carol Grumley, VP Beazer Homes “The short answer is growth in personal income.”
Jeff Blanford, Blanford Homes “Our number one priority should be focused on improving our image and reputation outside of Arizona. Our reputation is sadly not very strong.
“We need to distance ourselves from the events and unnamed political figures that have caused embarrassment to our state and embellish our positives: climate, friendly business attitude and opportunities that exist in Arizona. We do need to make our state more business friendly and open the welcome mat to businesses looking to move to our state and help our existing business’s grow as well.
“Lastly, improving our education system and reputation is a requirement in
growing our economy.”
Frank Busch, president and chief executive officer, Thomas Title & Escrow “My top ‘story’ is that this market continues to be very bumpy. We are about a month away from a very important election (state and federal), and Arizona real estate will not start picking up steam until we have job growth.
“We won’t have job growth until employers can see reasons to invest here substantially compared to other locales (California, Texas, Colorado, etc.). Some new leadership (i.e. the governor) will be an important part in this.
“To give you an example, we are going to be investing heavily in Texas next year, whereas we look at Arizona as the place where we will be status quo for the most part. I talk to CEOs every day who express similar sentiments. I’m hoping that new leadership will bring a new approach to economic development policies here in Arizona.”
Meanwhile, Chuck Matthews, WGM Associates, a Scottsdale-based title company,
told GlobeSt.com the mortgage industry faces challenges.
“New regulations and rules are still being developed by the regulatory bodies . . . After four years, experts estimate that just over half of the required regulations under Dodd-Frank have been put forth.
“Major milestones loom in August 2015 with new requirements for integrated mortgage disclosures. Organizations . . . have and continue to advocate additional transparency in the rule making process and for greater guidance in the implementation of the resulting regulations.
“Adjusting to the new regulatory landscape is not a simple task. Title agencies are utilizing outside advisors to counsel and implement these changes.”