Getting ‘the look’ [and ‘the Seville’] – 2 property retail portfolio sells for $72.5M. “The Scottsdale Seville Shopping Center sold for $34,000,000… [At the NEC of Scottsdale and Indian Bend, the] center is… across the street from the upcoming $2 Billion Ritz-Carlton Resort. The La Mirada Shopping Center, sold for $38,500,000… is… at the NEC of Pima and Pinnacle Peak…” Buyer/seller info for the Seville and La Mirada (which in Spanish means “The Look”), at AZRE.http://bit.ly/2e0NiBT
Pollack: Phoenix, Tucson single-family resales doing well. U.S.: Employment & Unemployment, Credit, New Orders & Manufacturing Index, Auto Sales. AZ: The Cromford Report – Total Listings/Sales/Median Prices – Greater Phoenix/Tucson & Maricopa County. In this week’s edition of The Monday Morning Quarterback. http://bit.ly/2e0E8jn
West Valley and Mesa freeway projects competing for funding. “State Route 30 [‘a $1.6 billion project’] would… divert… traffic from [I-10] for… 13 miles through Goodyear, Avondale and west Phoenix. State Route 24 [the $286 million Gateway Freeway] in Mesa would… eas[e]… the drive between the city and the San Tan Valley… where several master-planned housing communities are located.” AZCentral reports that “both [projects]] could… happen [by 2025], but… one will get priority status to go first.” http://bit.ly/2d7Lq4f
BUBBLE RAP – Home prices heat up: Crisis and opportunity. CNBC’s Diana Olick talks “UBS’ recently released ‘Global Real Estate Bubble Index,’” reporting that a “majority of U.S. markets may not be in so-called bubble territory, but homeownership is becoming increasingly difficult” due to “a growing affordability crisis.’” And the “opportunity”? The “rising home values are benefiting homeowners who… stay put” and take advantage of “tappable equity.”http://bit.ly/2e8L6I3
Worried about housing? You’re not alone. “Rising mortgage rates, overheating home prices, nothing for sale, pre-election jitters — the list of reasons to lose confidence in the housing market is growing. In fact, the share of consumers who think now is a good time to buy a home fell 5 percentage points in… a monthly housing sentiment survey… by Fannie Mae.” CNBC’s Diana Olick looks at how the “‘decline in the HPSI… adds a note of caution to [Fannie Mae’s] moderately positive housing outlook…’” http://bit.ly/2e8M3QM
HOME/SHOPPING – Dying suburbia malls become housing mecca.“Nearly 300 former malls [around the country] have — or are in the process of becoming — mixed-use developments, and 50 or so are adding in housing…” REALTORMag looks at how ““dead malls and… dead parking lots are the new cheap land.” http://bit.ly/2e0NZLw
Cameron Carter’s $5M Deals of the Day – http://bit.ly/2d7PqS6
Dealmaker BONUS: Arizona house among realtor.com’s ‘Doomsdday Digs.’“A castle, a dome [in Yucca, AZ], and an actual decommissioned missile silo” are among the “seven self-described prepper properties” that Realtor.com “uncovered.” See them here: http://bit.ly/2dEgY5t
The World’s Greatest Polo Party Is Only A Month Away! – http://bit.ly/2dvLKfO |