2016: The year the Phoenix economy began to pivot. In this thumbnail “retrospective of 2016,” Phoenix Business Journal’s Eric Jay Toll recognizes the Greater Phoenix Economic Council and the Arizona Commerce Authority and their respective approaches as being key to “Arizona’s recovery and trajectory into positive ground.” http://bit.ly/2hnF1ol
Paradise Valley welcomes first 3-story residential building. “[Mountain Shadows Resort Condominiums] will be located at 5455 E. Lincoln Dr…. [O]wners will have access to… meal delivery… housekeeping… valet and concierge… fitness facility… and views of Camelback.” And, based on the impressive rendering of this Westroc Hospitality and Woodbine project, residents can also (apparently) expect quite a bit of early morning, poolside socializing. Check it out at AZRE and note sunlit Camelback Mountain, and then judge for yourselves if it doesn’t evoke dawn’s early light. (Also get pricing and floor-plan info, which is way less disorienting.) http://bit.ly/2h6V3FD
Sections of Surprise downtown parcel coming into focus. “Mattamy at Surprise Center has a proposed 420 single-family residential lots to be built in five phases in a private, gated subdivision…. A park and recreation center with a swimming pool are mentioned… as are Mediterranean style touches…. [Tonight], the Surprise City Council will discuss the matter…” But why wait ‘til tonight, when you can read more about it now? In YourWestValley. http://bit.ly/2hWwvgy
Pollack: Trump policies likely to result in growth. The Monday Morning Quarterback tackles “[t]he long awaited and anticipated increase in interest rates” and looks at whether Trump-enomics will play into any future spikes. Plus… U.S.: Retail Sales, Inventories-to-Sales Ratio, Industrial Production, Capacity Utilization, Consumer Price Index & Inflation, Builder Confidence. AZ: Employment Growth & Unemployment – Greater Phoenix & Tucson. http://bit.ly/2gYSZMh
View underwater homeowners by state. “The five states with the most seriously underwater homeowners,… were: Florida (911,288), California (535,501), Illinois (517,703), Ohio (437,706), and Michigan (269,667).” Get a full, state-by-state, ‘heat map” breakdown at REALTORMag. http://bit.ly/2hEqmrK
CoreLogic predicts housing market growth in 2017. A housing-market future-cast from CoreLogic’s VP Frank Nothaft, in HousingWire. The chief economist makes predictions for five main areas: mortgage rates, vacancy rates, home appreciation, incentives to refinance, and credit risk. Also included is a link to “what other economist say is in store for next year.” http://bit.ly/2h8K5kj
Mortgage rates increase for Monday. “The average rates on 30-year fixed and 15-year fixed… both rose…. 5/1 ARMs also rose…. At the current average [30-year fixed] rate, you’ll pay principal and interest of $487.27 for every $100,000 you borrow. That’s up $8.70 from what it would have been last week.” Click to Bankrate to see all the latest mortgage figures and trends, including a look at “where… experts expect rates to go from here.” http://bit.ly/2hQjrd1
Cameron’s $5M + deals of the day – http://bit.ly/2h6L42X
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