News Archive

Phoenix home prices up in new Case-Shiller index | 6/26/2012

Phoenix home prices increased 2.5 percent in April from March, according to the latest Standard & Poors/Case-Shiller Home Price Index out this morning. The Phoenix rise is the best among major U.S. ma ... more

Greenberg Traurig, Quarles to pay $88M to settle Mortgages Ltd. lawsuits | 6/26/2012

The Greenberg Traurig LLP and Quarles & Brady LLP law firms have agreed to pay $87.5 million to settle investor lawsuits over their legal counsel in the Mortgages Ltd. commercial lending debacle. ... more

Arizona 19th for economic growth | 6/25/2012

Arizona's gross state product grew by 1.54 percent from 2010 to 2011, ranking the state 19th in the nation for economic growth. The latest figures from the U.S. Bureau of Economic Analysis (BEA) i ... more

Pulte buys lots, eyes new locations | 6/22/2012

Pulte Homes said it has purchased or is in escrow on 332 lots in three East Valley locations with plans to begin opening new communities later this year if current buyer demand holds up. The most- ... more

Rate on 30-year mortgage falls to record 3.66 pct | 6/21/2012

The average U.S. rate on a 30-year fixed mortgage fell this week to a record low for the seventh time in eight weeks. Cheap mortgages have helped drive a modest recovery in the weak housing market thi ... more

Summit calls for economic infrastructure | 6/20/2012

If Arizona is to successfully lure companies, it would benefit by changing its stance that development must pay for itself, Chandler's economic-development director contends. Chris Mackay delivere ... more

Home Prices in the West Are Rebounding as Inventory Shrinks | 6/20/2012

Prices for existing homes here and in surrounding areas climbed by 25 percent during the 12-month period that ended in April, pointing to a decisive shift in the market realities of a place where fo ... more

Home-builder confidence in West, U.S. rising but still low | 6/19/2012

Home-builder confidence across the country has reached its highest level since May 2007, according to the National Association of Home Builders/Wells Fargo Housing Market Index. The national rat ... more

Arizona’s Homebuilding Revival Sparks Bidding Wars for Workers | 6/19/2012

While D.J. Hughes hunts for carpenters to join his team at a Phoenix-area house-framing company, competitors are tracking down his workers at building sites and offering them more money. “Everybod ... more

LA builder joins team for Mesa's Eastmark | 6/19/2012

Bernards, a commercial builder based in Los Angeles, has been named one of several general contractors for Eastmark, a massive, planned mixed-use development in Mesa. Mike Rock, vice president of ... more

Arizona builders see trend of larger houses | 6/18/2012

Builders are making bigger homes in the U.S. as the housing market rebounds, according to a new study of building data. It's a trend some local builders say is occurring in Arizona. The typical si ... more

Arizona ranks third for construction Job growth in May | 6/18/2012

The latest Bureau of Labor Statistics data shows the nation’s construction workforce continued dwindling in May, yet Arizona was among the minority of states that boasted year-over-year gains in the ... more

Gateway airport plans $1.4B terminal with 60 gates | 6/18/2012

The booming Phoenix-Mesa Gateway Airport has unveiled a $1.4 billion plan for a new passenger terminal that could open as soon as 5 years from now and eventually expand to 60 gates. The airport is ... more

US builder confidence ticks up to 5-year high | 6/18/2012

Confidence among U.S. builders ticked up this month to a five-year high, an indication that the housing market is slowly improving. The National Association of Home Builders/Wells Fargo builder se ... more

Mesa developer's new tactic: Build jobs, then homes | 6/18/2012

It will be another year before houses go up on one of the last large pieces of residential land in Mesa, even though the developer bought it six years ago. The former General Motors Co. proving gr ... more

Data-center developers flock to metro Phoenix | 6/18/2012

Metro Phoenix has become one of the top-10 markets for developers of data centers, where companies large and small house their equipment for connecting digitally to customers, employees and suppliers. ... more

West Valley home market as hot as the weather | 6/18/2012

Javier Vidana is only 19. But with his investor father's cash, he was ready to make an offer on a three-bedroom, 21/2 bath home in Peoria on Thursday. "I love it already," said Vidana, who rents a ... more

Hard money moves into Phoenix housing market | 6/15/2012

Dusting themselves off from the Mortgages Ltd. debacle several years ago, hard-money lenders seem to be making a comeback in the local real estate market. This time around, instead of remaining tr ... more

Queen Creek farm gets development plan | 6/14/2012

William Lyon Homes plans to transform a former Queen Creek church farm, owned and operated by the Church of Jesus Christ of Latter-day Saints, into an 879-acre master-planned community. The planne ... more

Developer's vision of downtown Scottsdale coming into focus | 6/14/2012

Love it or hate it, developer Shawn Yari is gradually reaching his goal of transforming downtown Scottsdale's entertainment district to match his long-term vision. That vision involves ridding the ... more

Small businesses in housing industry see recovery | 6/13/2012

The small businesses that drive the housing market are reporting signs that the industry may be experiencing a real comeback. At the beginning of the spring selling season, real estate agents and ... more

ASU expert predicts decline of cookie-cutter housing as market recovers | 6/13/2012

The cookie-cutter homes that dominated the Valley landscape for decades won’t be as common in the future as the real estate market climbs out of the recession and builds new kinds of housing. The ... more

Sun Corridor getting some attention as economy improves | 6/12/2012

The Sun Corridor, a potential megapolitan area running from Prescott through Phoenix and Tucson to the Mexico border, is getting some attention. In Friday's paper, the Phoenix Business Journal w ... more

NAHB to Apply Full-Court Press on Presidential Candidates | 6/12/2012

On July 11, the NAHB will be staging a “Rally for Homeownership” in Tampa, Fla., one of seven such rallies the trade group will hold in markets that are considered critical to the election of the next ... more

Bernards signs on to develop part of new Eastmark community in Mesa | 6/11/2012

Bernards, a builder with five offices in the Southwest, has been named one of several general contractors for the master-planned community Eastmark in Mesa. The Phoenix office of Bernards will oversee ... more

Phoenix the No. 2 US moving destination, association says | 6/11/2012

Phoenix is among the most popular moving destinations in the U.S., according to the American Moving and Storage Association. Yahoo Real Estate reports Phoenix ranked No. 2 on the association’s lis ... more

New housing report show home sales are picking up | 6/9/2012

The latest housing data from a local title agency may ease any lingering speculation that Phoenix’s rebounding home values could face setbacks from a slew of foreclosures that banks are waiting to dum ... more

Developers plan downtown Phoenix office building | 6/8/2012

Developers have pondered a big hotel, condos, apartments and even an urban-style Target store for the parking lot nestled in between Collier Center and CityScape in downtown Phoenix. Now, the owne ... more

Phoenix developers make new push for tax breaks | 6/8/2012

Barron Collier Co. and Ryan Cos. are expected to go after government property excise lease taxes, or GPLETs, and other financial assistance from the city of Phoenix for their proposed development plan ... more

Westcor turns back state land for Palisene | 6/7/2012

A regional-mall site intended for Westcor's Palisene project is going back to the Arizona State Land Department. Westcor and the Land Department reached an agreement last week to end Westcor's 99- ... more

Home construction picks up with new developer at Yavapai Hills | 6/6/2012

An improving real estate market sparked plans by a group of businesspeople to take over development at Yavapai Hills with plans to complete the subdivision in 15 years. Yavapai Hills Developers LLC ... more

Some Pinal home buyers being forced out of the market | 6/6/2012

Prices for single-family homes in Pinal and Maricopa counties continue to rise, according to April figures compiled by the Center for Real Estate Theory and Practice at the W.P. Carey School of Busine ... more

Hovnanian returns to profit in 2Q | 6/6/2012

Hovnanian Enterprises Inc. returned to a profit in its fiscal second quarter as the homebuilder recorded a large gain on debt extinguishment and charges declined. The company also saw home deliveries ... more

Mesa awaits fallout of resort Gaylord's reorganization | 6/6/2012

What many Mesa residents had long feared now seems inevitable: A world-class resort and conference center on the north end of the former General Motors Desert Proving Ground probably never will be ... more

Developer Rick Burton files $310 mil bankruptcy | 6/5/2012

A developer who helped build a corporate-jet center and tried to build a resort complex in Glendale has filed an enormous personal bankruptcy in Las Vegas. Rick Burton owes more than $310 million ... more

Investors Snap Up Abandoned Phoenix Development | 6/5/2012

Three years ago Lennar was within a few months of sending out the bulldozers to carve roads and home sites in the desert west of Phoenix when it decided to walk away from Elianto, a 2,389-acre chunk o ... more

Bruckal Group buys Tempe lofts for $6.7 million | 6/4/2012

Bruckal Group. purchased the Farmer Lofts, an 18-condo property located in downtown Tempe, for $6.65 million. The property was previously owned by Avatar Development Group LLC. Bruckal partnered w ... more

Homebuilder Ed Robson looks back, ahead | 6/2/2012

It has been 40 years since homebuilder Ed Robson invested in a patch of farmland south of Chandler and, with knowledge he had obtained as director of corporate sales for legendary Sun City developer D ... more

What Are The Next Real Estate Boomtowns In America? | 6/1/2012

Real estate markets may be showing setbacks on their road to recovery, but they're still mostly on the mend from a year ago. A number are even emerging as boomlets — some back from the brink. Here ... more

Mountain Shadows redevelopment plan might boost home values | 6/1/2012

When Mountain Shadows Resort closed in 2004, Vernon Parker joked that his son in elementary school would be in college before the Paradise Valley property was redeveloped. His son graduated from B ... more

Mesa Mayor assures new Chicago Cubs stadium will be fine | 6/1/2012

People who are criticizing plans for the Chicago Cubs' new Mesa stadium may be jumping the gun, Mayor Scott Smith said this week. Long-awaited drawings of the facility were released last month, sh ... more

Marriott buys Gaylord hotel brand for $210M | 5/31/2012

Gaylord Entertainment Co. (NYSE: GET) is selling its hotel brand and management rights to its four resorts to Marriott International (NYSE: MAR) for $210 million in cash. Gaylord is slated to deve ... more

Phoenix-area housing prices on the rise | 5/31/2012

More metro Phoenix homeowners may soon be able to sell for a profit, albeit a small one, as home prices in the region continue to rise. Arizona State University's latest real-estate report shows t ... more

Phoenix near top for international migration | 5/31/2012

The Phoenix-Mesa-Glendale metro area ranked 13th in the nation for highest net migration between July 2010 and July 2011, based on U.S. Census Bureau estimates. During that period, the Phoenix a ... more

Is the Phoenix foreclosure crisis over? | 5/30/2012

About 2.8 percent of all homes with a mortgage in the Phoenix area had a foreclosure filing in April, according to a new report from CoreLogic . Phoenix Business Journal reporter Kristena Hansen ... more

Local, national housing experts disagree on Phoenix market | 5/30/2012

Jennifer A. JohnsonReporter- Phoenix Business JournalEmail There have been mixed predictions on whether the metropolitan Phoenix real estate market is poised for a recovery or an even deeper market s ... more

Phoenix sees large drop in foreclosure filings | 5/30/2012

Phoenix saw a larger annual drop in foreclosure filings in April than any other major metropolitan area in the nation, according to a CoreLogic report released Wednesday. About 2.8 percent of al ... more

Metro breaks ground on downtown Mesa rail extension | 5/30/2012

Metro broke ground Wednesday on a $200 million light rail extension into downtown Mesa as the project’s backers predicted it will transform the emerging area into a thriving urban core. Mesa Mayo ... more

U.S. Housing Market Finally Seen Reaching a Turning Point | 5/30/2012

I put a bid in on a home over the Memorial Day weekend and, judging by the recent housing indicators, it appears I was part of a growing crowd of potential homebuyers poised to jump into the marke ... more

Phoenix 9th in natural population growth | 5/30/2012

There were 59,738 births in the Phoenix metro area between July 1, 2010, and July 1, 2011, and there were 26,891 deaths, which puts the city's natural population growth at 90 people per day, according ... more

New hospital planned for Glendale | 5/30/2012

The parent organization of St. Joseph's Hospital and Medical Center on Wednesday announced plans to expand in the West Valley with a 24-bed hospital in Glendale. Dignity Health said it has purchas ... more

New hospital planned for Glendale | 5/30/2012

The parent organization of St. Joseph's Hospital and Medical Center on Wednesday announced plans to expand in the West Valley with a 24-bed hospital in Glendale. Dignity Health said it has purchas ... more

Feds open comment on 500-mile New Mexico-Arizona power line | 5/30/2012

Federal officials have unveiled draft plans for a proposed $1.5 billion power line linking central New Mexico with southeast Arizona across at least 460 miles of federal, state, local and privately ow ... more

Home prices rise in most major cities | 5/29/2012

Home prices rose in March from February in most major U.S. cities for the first time in seven months. The increase is the latest evidence of a slow recovery taking shape in the troubled housing market ... more

Silverleaf developer perseveres after recession of '08 | 5/29/2012

Two coyotes are sunning themselves on the Silverleaf Club golf course on a recent morning as DMB President Charley Freericks looks on from inside the clubhouse. Breakfast guests are admiring the a ... more

Phoenix-area home prices posting fastest rise in U.S. | 5/29/2012

Metro Phoenix home prices are rising faster than anywhere else in the country, according to the latest national data. The Case-Shiller Home Price Index shows the average existing home price in the ... more

Phoenix housing market still digging out of deep hole | 5/29/2012

The good news is that Phoenix home prices were up 6.1 percent in March compared with March 2011, according to the new S&P/Case-Shiller Home Price Index. The bad news is that Phoenix prices are sti ... more

Phoenix cracks top 10 for population growth | 5/29/2012

It was a rough few years, but Phoenix is back in among the fastest growing metro areas in the U.S. At least for last year. Phoenix ranked No. 10 on a list recently released by the U.S. Census ... more

Phoenix home foreclosure rate continues to decline | 5/29/2012

The number of foreclosures throughout the Phoenix area and across Arizona continue to taper off this year and sit below the national average, according to the latest data released Tuesday by CoreLogic ... more

Arizona-New Mexico SunZia power line gets environmental report | 5/29/2012

A power line that would stretch between Arizona and New Mexico that has been pitched as a possible connection for the region’s solar and wind industry has received its draft environmental report. ... more

Phoenix home prices up 6 percent | 5/29/2012

New S&P/Case-Shiller home prices are out this morning and they show Phoenix with the best gains nationally for March. The home price index shows Phoenix with a 6.1 percent gain in March compared to Ma ... more

Gilbert Chamber campaign seeks to lure executives to town | 5/29/2012

The Gilbert Chamber of Commerce is working with town officials and land developers to corral support and funding for an "executive housing initiative," which promotes Gilbert's high-end communities to ... more

New Elevation Chandler hearing pursued | 5/29/2012

The Elevation Chandler legal case isn't over after all. The million-dollar bidder who lost the case says he's hiring new lawyers to ask the Arizona Supreme Court to reconsider its decision. He als ... more

New Elevation Chandler hearing pursued | 5/29/2012

The Elevation Chandler legal case isn't over after all. The million-dollar bidder who lost the case says he's hiring new lawyers to ask the Arizona Supreme Court to reconsider its decision. He als ... more

Big profits for home-flippers signal Phoenix-area rebound | 5/25/2012

In another sign that metro Phoenix's housing market is slowly recovering, hundreds of homes across the region sold by banks after foreclosure or through short sales are being flipped by investors for ... more

EXEC forms assisted-living firm | 5/25/2012

A former apartment-management executive has formed a new company based in Tempe to purchase, renovate and manage financially distressed assisted-living communities in the Phoenix area. Kristopher ... more

DMB breaks ground at Mesa's Eastmark, but Gaylord still gun-shy | 5/25/2012

DMB Associates has broken ground on the first phase of home construction for its economy-hampered redevelopment of the former GM Proving Grounds in Mesa, but Gaylord Entertainment Inc. still is not pu ... more

Texas builder partners with investment firm to expand to Phoenix | 5/25/2012

Phoenix-area home builders soon may see some new competition if a Texas-based company follows through with plans to expand here to take advantage of the Valley’s rebounding housing market. Moving ... more

Phoenix-Vegas I-11 connection sought to boost business | 5/25/2012

Real estate developers are supporting a proposed highway link between Phoenix and Las Vegas, hoping it will foster long-term West Valley population and employment growth and increase Arizona trade and ... more

Scottsdale gives green light to 11-story condo tower | 5/24/2012

The Scottsdale City Council has approved construction of an 11-story, 288-unit condominium project west of Scottsdale Fashion Square. The project is part of Optima Sonoran Village, at the southeastern ... more

17 MSA's Added to NAHB Housing Improvement List in May | 5/24/2012

The National Association of Home Builders added 17 cities to its Improving Markets Index in May, including Phoenix. The NAHB list shows Metropolitan Statistical Areas that have shown improvement from ... more

Thirty-year mortgage rate falls to record 3.78% | 5/24/2012

The average U.S. rate for the 30-year fixed mortgage fell to a record low for a fourth straight week. Cheap mortgages have helped boost home sales modestly this year. Mortgage buyer Freddie Mac sa ... more

New-Home Sales Amplify Optimism About Housing | 5/23/2012

Sales of newly built homes continued to pick up momentum, another sign that the long-beleaguered housing market is in recovery mode. New-home sales for April rose 3.3% from March and were up 9.9% f ... more

Phoenix home prices post gains in March | 5/23/2012

Recent reports that the Phoenix housing market is finally showing signs of a rebound were bolstered Wednesday with the release of the FNC Residential Price Index’s latest home value figures. Phoen ... more

Paulson-Led Group to Sell Hotels to End Their Bankruptcy | 5/23/2012

A group led by Paulson & Co. plans to sell the Arizona Biltmore resort and the Claremont Hotel Club & Spa in Berkeley, California, as part of an effort to bring the properties and two other hotels out ... more

West Valley's ready access attracts projects | 5/22/2012

When executives with Tanger Factory Outlet Centers Inc. were scouting the Phoenix metro area last fall, they found their target site in Glendale's Westgate City Center. It had a lot going for it. ... more

Central Arizona College unveils five-building for San Tan Campus | 5/22/2012

In an area of more than 80,000 people living in a mostly unincorporated area known as the San Tan Valley, Central Arizona College is fast-becoming a major catalyst in building community. That effor ... more

Real Estate Improvements Based On Arizona Housing Recovery | 5/21/2012

After years of foreclosures, undersold homes and halted construction, Arizona can finally see the light at the end of the tunnel. In a recent report by Fox News, Arizona has gone from being one of the ... more

Signs of revitalization at Desert Ridge | 5/20/2012

Two projects at Desert Ridge may signal that the troubled northeast Phoenix community is on the rebound after it was hit hard by the economic downturn. The last phase of Fireside at Desert Ridge i ... more

Start the Engines… for Eastmark | 5/18/2012

On Friday, May 18th, DMB Associates, along with community and government partners, economic development leaders and colleagues, broke ground for its newest community, Eastmark. Many prominent East Val ... more

Gracepoint Builders Partners with IHP Capital Partners | 5/17/2012

Gracepoint Builders (Gracepoint Homes), a leading custom production builder in the Houston area, today announced that Gracepoint Builders and IHP have formed a partnership to create Gracepoint Holding ... more

Mortgage rates fall to another record low | 5/17/2012

Average rates for 30-year and 15-year fixed mortgages fell to record lows for a third straight week. The steady decline has made home-buying and refinancing more affordable than ever for those who ... more

Phoenix among national leaders in job growth | 5/17/2012

The Phoenix area added more than 40,000 news jobs between March of 2011 and the same month this year, ranking it among the biggest job gainers in the country. New research from On Numbers shows Ph ... more

Housing more affordable than ever before | 5/16/2012

The National Association of Realtors says its measure of housing affordability reached an all-time high last quarter, as prices, mortgage rates and family incomes converged. At the same time, bidd ... more

CyrusOne data center breaks ground in Chandler | 5/16/2012

Houston-based CyrusOne LLC broke ground Wednesday on a 1 million-square-foot data center in Chandler intended to serve the information-technology needs of large companies on the West Coast. When ... more

Drop in homes for sale is strengthening prices in many spots | 5/16/2012

The nation has fewer homes for sale, and that's helping prices in markets where low supplies are meeting strong demand. The U.S. had 2.37 million existing homes for sale at the end of March. That ... more

Gilbert medical center planning big expansion project | 5/16/2012

Banner Health is preparing for a major expansion at Banner Gateway Medical Center in Gilbert, including a new seven-story patient tower and the second phase of Banner MD Anderson Cancer Center, accord ... more

Needy States Use Housing Aid Cash to Plug Budgets | 5/15/2012

Hundreds of millions of dollars meant to provide a little relief to the nation’s struggling homeowners is being diverted to plug state budget gaps. In a budget proposed this week, California joine ... more

Phoenix housing market still bruised, but recovering | 5/15/2012

The Phoenix-area housing market still has plenty of bruises from its recent knockdowns, but some of those wounds may be starting to heal. Foreclosure sales, short sales and real estate investors s ... more

Brewer vetoes bill calling for return of federal lands to Arizona | 5/15/2012

Gov. Jan Brewer vetoed a bill that would have called on the federal government to return all of its lands in Arizona to the state within the next few years. The Washington Post reports Brewer veto ... more

Phoenix, other markets lack home sellers | 5/15/2012

Phoenix and other markets around the U.S. are seeing home price increases as a lack of properties on the market is prompting bidding wars. Bloomberg reports that brokers in various cities, includi ... more

Investment group buys Buckeye parcel for $7.4 million | 5/15/2012

An investment group has purchased 2,389 acres of bank-owned land at the northeast corner of Sun Valley Parkway and Thomas Road in Buckeye for about $7.4 million, or $3,098 per acre, a broker involved ... more

Housing, economy experts maintain positive outlook | 5/15/2012

Arizona has regained one-quarter of the jobs lost during the economic crisis and the job market is on track to fully recover in 2015, experts said Tuesday. Housing and economy experts from Arizona ... more

PV Mountain Shadows resort owner defaults on loan | 5/15/2012

The owner of the Mountain Shadows resort in Paradise Valley has defaulted on his loan but says the long-shuttered property's redevelopment will move forward. A trustee's sale for the resort has be ... more

Builder Confidence Moves Up in May | 5/15/2012

Builder confidence was up in May, according to the National Association of Home Builders/Wells Fargo Housing Market Index, which gained five points for the month, bringing the index to a reading of 29 ... more

Gila River tribe may hold vote on South Mountain Freeway effort | 5/14/2012

A dozen landowners on the Gila River Reservation have gathered more than 1,200 signatures from residents who support a new effort to put the South Mountain Freeway on tribal land. The signatures w ... more

Old Motorola radar tower demolished in Tempe as office park takes shape | 5/14/2012

A Motorola radar tower at Elliott Road and the Loop 101 in Tempe was demolished May 12, clearing room for the planned Discovery Business Campus. Wentworth Property Company and partner Northwood In ... more

Lennar Homes building 83 new homes in El Mirage | 5/14/2012

Lennar Homes says it will build 83 new single family homes in El Mirage this summer. Lennar’s Discovery at Montecito Estates is located at Thompson Ranch and El Mirage roads in the West Valley. ... more

Arizona leading nation in housing recovery | 5/13/2012

It's a positive sign for the Arizona economy. The real estate website says Arizona and Nevada are leading the nation's housing market with 4 percent growth. The site also says A ... more

Phoenix's East Valley hot spot for apartments | 5/11/2012

Rob Lyles and Michael Lieb sit at opposite ends of the residential real estate spectrum, but both see increasing rays of sunshine for apartment redevelopment projects in a real estate market that othe ... more

Commuter rail should be fast-tracked in Arizona | 5/11/2012

As someone who drives almost 45 miles round trip from the West Valley into downtown Phoenix every day for work, I was all ears when I heard an National Public Radio report yesterday about yet another ... more

New Scottsdale homes go Dutch | 5/11/2012

K. Hovnanian Homes is partnering with Dutch architect Piet Boon on a new high-end, modernistic housing development in North Scottsdale. The Line K at Pinnacle Peak development offers contemporar ... more

Curis Resources gets $40M loan for Pinal County copper mine | 5/11/2012

Curis Resources Ltd. says it has finalized a $40 million loan for its contentious underground copper mining project in Pinal County. Vancouver-based Curis said it has executed the loan deal with R ... more

BUILDER 100’s Top Private Companies Get Stronger in 2011 | 5/11/2012

After spending 2010 stuck in neutral, the industry’s largest private home builders were finally able to shift into gear in 2011. While all of the top 10 publics saw closings drop and almost all saw re ... more

BUILDER 100’s Top 10 Held Ranks, Lost Share | 5/10/2012

The nation’s 10 largest home builders stayed in formation in 2011, leaving D.R. Horton crowned king of closings, with a total of 17,176. While PulteGroup was kept at No. 2, nearly 2,000 closings behin ... more

Arizona land endowment trust puts $1.4 billion out for bid | 5/10/2012

Arizona state Treasurer Doug Ducey issued an RFP for a total of about $1.4 billion to be passively managed in eight new asset classes for the $3.6 billion Arizona Permanent Land Endowment Trust Fund, ... more

Water-farm funds to go to lure businesses | 5/10/2012

Mesa's leaders thought they were planting the seeds of a secure future in 1985 when they paid about $30 million for 11,000-plus acres of Pinal County farmland. Indeed, they were. But it didn't tur ... more

Bring Back Housing By Bringing Back Tax Shelters | 5/9/2012

Turning around real estate remains one of the biggest problems in fixing America’s economy. Investment sage Warren Buffett recently said now is a good time for investment pools to buy thousands of res ... more

Gaylord seen as a possible takeover target | 5/9/2012

Gaylord Entertainment Co. — the Nashville-based company that has proposed a $1 billion project in Mesa — is seen by several analysts as a possible target for a takeover or sale, according to a news re ... more

Arizona's mortgage improvement fastest in U.S. | 5/9/2012

Delayed mortgage payments are decreasing faster in Arizona than in any other state, indicates a new report. Arizona delinquencies on past-due home loans fell by one-fourth over the 12 months endi ... more

Gila River tribe picks Perini to build new hotel, casino at Vee Quiva | 5/9/2012

The Gila River Indian Community has picked Perini Building Company Inc. to develop and construct a new casino and resort hotel at the tribe’s Vee Quiva Casino in Laveen. The Gila River tribal counc ... more

Arizona construction gets a boost, ranks fifth in U.S. | 5/9/2012

Arizona ranked fifth among U.S. states for construction spending on commercial real-estate projects in 2011, according to a report issued this week. That’s a big jump from its No. 14 position the p ... more

Beach Club complex in downtown Scottsdale adds tenants | 5/9/2012

The tenant lineup at a beach club-anchored complex in downtown Scottsdale's entertainment district is quickly taking shape with the addition of a neighborhood sports bar and a modern Western saloon. ... more

Marana considering 2012 annexations, plans to clear islands | 5/9/2012

The Town of Marana continues to combat the poor economy, first by showing a 2 percent growth in its projected 2012-2013 fiscal year budget, and now by planning future annexations of a county island ... more

Property near mall finally has owner | 5/9/2012

The Arizona Supreme Court has decided that investors in a California-based company own the high-profile, 10.5-acre parcel Elevation Chandler near Loops 101 and 202. For three years, Point Center F ... more

Phoenix eases process for building permits | 5/9/2012

Efforts by businesses to get building permits will be easier now that the Phoenix City Council has approved a six-month pilot program aimed at "reducing red tape, permit-turnaround times and business ... more

Gila River tribe picks Perini to build new hotel, casino at Vee Quiva | 5/8/2012

The Gila River Indian Community has picked Perini Building Company Inc. to develop and construct a new $135 million casino and resort hotel at the tribe’s Vee Quiva Casino in Laveen. The Gila Ri ... more

.Arizona shows big jump in 2011 construction | 5/8/2012

Arizona ranked fifth among U.S. states for construction spending on commercial real-estate projects in 2011, a huge advance from its No. 14 position the previous year, according to a report issued t ... more

Builder Is Constructing REIT for Home Rentals | 5/8/2012

Investors can buy stakes in malls, apartment towers, timber forests and even cellphone towers through real-estate investment trusts. Now, add to the list: single-family homes transformed into rental p ... more

Phoenix home prices in March up 7.7% from a year ago | 5/8/2012

Home prices in the Phoenix area increased by 7.7 percent from March 2011 to March 2012, according to a survey by CoreLogic, a California-based data and research firm. Take the distressed sales out, ... more

Arizona No. 5 for commercial real estate development | 5/8/2012

Arizona ranked fifth in the U.S. last year in the development and construction of office, industrial and retail space, according to a report issued by NAIOP Research Foundation. The research showed ... more

Downtown Tempe to get 11-story hotel | 5/8/2012

A flurry of development and new business openings in downtown Tempe in recent months soon will continue with the construction of an 11-story hotel. The East Valley Tribune reports ( ... more

Confidence in Economy and Home Values Increasing | 5/7/2012

Both the expectation for home prices and the percentage of those who think the U.S. economy is on the right path reached record highs in Fannie Mae’s April 2012 National Housing Survey. Americans ... more

Bank of America Starts Mortgage Reduction Effort | 5/7/2012

Bank of America has started sending letters to thousands of homeowners in the United States, offering to forgive a portion of the principal balance on their mortgages by an average of $150,000 each. ... more

Infrastructure bill an example of working together | 5/7/2012

Senate Bill 1442 has generally flown below the radar this legislative session, but it's an important change that could make it easier for cities to make costly public infrastructure improvements. ... more

Improving Markets Index Ticks Down to 100 | 5/7/2012

The list of markets that qualify as "improving" according to the National Association of Home Builders/First American Improving Markets Index ticked down in May, moving to a total of 100 markets from ... more

Top Professional Builder’s Housing Giants Rankings | 5/6/2012

With more than $3.9 billion in total residential revenue and 15,275 closings in 2011, PulteGroup tops Professional Builder’s annual Housing Giants ranking of the nation’s largest home-building compani ... more

Gilbert to bid farewell to last big piece of farmland | 5/4/2012

Gilbert's Morrison family this week announced the impending development of the town's last full square mile of farmland, which will soon be replaced by hundreds of homes in the new Elliot Groves subdi ... more

Gila River tribe opposing Florence copper mine | 5/4/2012

The Gila River Indian Community has come out against the $500 million Florence Copper Project proposed by a Canadian company in Pinal County. The Gila River tribe has written Arizona Gov. Jan Brewe ... more

Tempe lands Residence Inn, to open in 2014 | 5/4/2012

A new hotel is slated for development in dowtown Tempe with an opening expected late next year or in early 2014. Construction is expected to start soon on a 173-room hotel Residence Inn by Marriott ... more

ADOT studies 6 rail routes for Tucson-to-Phoenix line | 5/4/2012

Six conceptual routes for a rail line connecting Tucson and Phoenix are under consideration by the Arizona Department of Transportation. ADOT's $6.3 million Passenger Rail Corridor Study has been u ... more

Solis hotel, condo site in downtown goes for $30 million | 5/4/2012

An 11-acre redevelopment site for a planned hotel and condominiums in downtown Scottsdale was sold last week at a trustee sale for $30 million. AZ-Waters Edge LLC submitted the only bid and will ... more

Commodity prices spark Arizona farmland values | 5/4/2012

One of the best examples of the economic recovery underway in Arizona agriculture since the onset of the Great Recession is increasing farmland values in Pinal County, located in the state’s south cen ... more

Investors returning to Phoenix housing market, driving prices up | 5/4/2012

Real estate investors and short-term flippers are back in town — for better or worse — and once again they’re dominating the housing market for sales of less than $250,000. Investors are buying tho ... more

Beazer Forms Partnership to Buy Rental Homes | 5/3/2012

At a time when home builders are struggling to compete with the bargain basement prices of distressed properties and more families are turning to rentals as credit stays tight, Beazer Homes USA seems ... more

Arizona among 7 states to add 100,000 private sector jobs in past decade | 5/3/2012

Arizona is one of seven states to add at least 100,000 private sector jobs in the past decade, according to a new On Numbers analysis of U.S. Bureau of Labor Statistics info. Arizona had more than ... more

Mesa to sell Pinal County farmland for $135 million | 5/3/2012

Mesa plans to sell a vast swath of farmland it owns in Pinal County so it can plow $135 million into economic development initiatives that include the downtown and a Chicago Cubs complex. The sal ... more

Buying a home won't get much cheaper | 5/3/2012

Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing ma ... more

Gilbert home construction outpaces other cities in Valley | 5/2/2012

Home construction in Gilbert continues to outpace every other Valley municipality, and the town is on track for its most robust year in new-home permits since 2006. Several new and existing subdi ... more

Creating vibrant core in Mesa depends on right project mix | 5/2/2012

Mesa has approved preliminary plans for a five-story apartment complex geared toward low-income seniors. It's a high-quality project that would be perfect for several empty parcels on the edges of d ... more

Arizona plan to help $500M Florence copper mine gets axed | 5/2/2012

A proposal floated for the Arizona budget would have made it easier for a $500 million Canadian copper mining project to get off the ground in Florence, allowing the project to bypass local opposition ... more

Some Housing Markets Rebound, But Bargains Scarce | 5/1/2012

The real estate market has turned around in some parts of the U.S., but many buyers aren't seeing true bargains anymore. Investors are driving up prices, and inventory is low, especially for homes pri ... more

Renters More Optimistic About Buying | 5/1/2012

They may have watched the value of their parents’ homes soar then crash. And, chances are, they know someone who is losing their home to foreclosure. Still, the hope of homeownership is alive among pe ... more

Arizona a very volatile market | 4/30/2012

Last Friday, I wrote a print edition story about Arizona home builders seeing signs of a long hoped-for recovery in the midst of shrinking housing inventory and an uptick in buyer demand. I talked ... more

Homebuyers bidding on Phoenix homes without seeing them | 4/30/2012

Buyers interested in cashing in on low prices for Phoenix homes are putting in bids sight unseen on properties. KTVK Channel 3 reports that real estate agents say buyers are putting in multiple bid ... more

Housing issues provide greatest motivator for relocation in U.S. | 4/27/2012

Recent analysis of census data by John Burns Real Estate Consulting reveals that the majority of Americans move for reasons directly related to housing, as opposed to jobs, family or any other factor, ... more

Phoenix is Rising | 4/27/2012

The Phoenix housing market is on fire, driven by strong economic growth, once in a generation affordability levels, and a surge in investment activity that far surpasses the levels during the housing ... more

Phoenix tops Zillow list | 4/27/2012

Phoenix topped real-estate portal and online valuation service Zillow's list of metro areas expected to achieve growth in home values in 2013 in a report issued Tuesday. According to Zillow, the ... more

Apartments planned on ex-car lot | 4/27/2012

A New York developer submitted plans last week to build apartments on the former Pitre Buick car lot northwest of 68th Street and McDowell Road. Chason Development Inc. is seeking rezoning to all ... more

Foreclosure rate drops in Phoenix | 4/26/2012

Foreclosure rates in the Phoenix area decreased in February compared with the same month last year, according to new data from CoreLogic. The rate of Phoenix-Mesa-Glendale-area foreclosures among o ... more

Home sales up, mortgage rates dip | 4/26/2012

The number of Americans who signed contracts to buy U.S. homes rose in March, the latest sign the battered housing market is slowly improving. And a separate report Thursday said the average rate ... more

Home prices in Phoenix area up 20 percent in past 12 months | 4/26/2012

Home prices are surging in metro Phoenix, climbing 8 percent in March alone and 20 percent in the past 12 months. The median price of a house in the region climbed to $134,900, according to a new r ... more

Arizona Senate passes bill demanding return of federal lands | 4/25/2012

The Arizona state Senate, on a 19-9 vote, gave final legislative approval on Wednesday to a measure calling for federal agencies to relinquish roughly 48,000 square miles (124,000 sq km) of acreage th ... more

Arizona lawmakers want land back from the feds | 4/25/2012

The Arizona Senate has passed a bill that demands more than 48,000 square miles of land is returned from the federal government to Arizona. Reuters reports that Arizona is following Utah with this ... more

Phoenix home values to outpace the nation in 2012 | 4/25/2012

Phoenix home values will have the largest national gains in 2012, according to a recent forecast by Zillow Inc., a Seattle-based real estate tracker. Released Wednesday, Zillow’s report for the fir ... more

UP railroad double track work continues, switch yard on hold | 4/25/2012

Work on Union Pacific Railroad’s double track effort through Arizona from El Paso to Los Angeles is continuing, with most of the track being laid in Pinal County. However, the railroad’s plans for a l ... more

Some Housing Markets Are Rising; Others, Not So Much. | 4/25/2012

A smattering of home-price indexes is painting a confusing picture of where housing markets are headed. One reason for the confusion is that there’s no such thing as a national housing market. That ... more

Phoenix home prices rise amid nationwide drops | 4/24/2012

Phoenix home prices have risen for the fifth straight month, despite continued declines in most major U.S. cities, according to the Standard & Poor's/Case-Shiller home-price index for February. The ... more

Residentially-zoned land near San Tan Valley sold | 4/24/2012

An investment group has purchased 556 acres of residentially zoned land for $3.1 million near San Tan Valley in Pinal County, about 50 miles southeast of downtown Phoenix. The land, about four mi ... more

D.R. Horton Aims for Market Domination | 4/24/2012

D.R. Horton is ready, willing, and able to take your market share. That strong message was repeated several times Monday as Donald Tomnitz, CEO of the biggest volume builder in the United States, t ... more

Home Prices Up, Down in February, Depending on Where You Look | 4/24/2012

Urban centers offer plenty of perks not found in less populated portions of the country, but improving home prices aren’t included in that list, according to the latest numbers from the S&P/Case-Shill ... more

Silverado Ranch parcel sells for $3M in Queen Creek | 4/23/2012

More than 550 acres of land in Queen Creek has been sold for $3.05 million. At one time the land was slated for an 1,800-home development called Silverado Ranch. Seventh Heaven Family Trust of Carl ... more

Arizona may seek return of federally held lands | 4/23/2012

The Arizona Legislature took a step in trying to reclaim lands owned by the federal government with a bill passed by the House of Representatives on Monday. Reuters reports the bill would seek to h ... more

Arizona solar plant gets $125M investment | 4/22/2012

Abengoa Solar has received $125 million for an equity stake in its Solana Generating Station near Gila Bend from Capital Riesgo Global, a subsidiary of Banco Santander. The money pushes the 280-meg ... more

Economic winds at West Valley's back | 4/22/2012

Economists have upgraded the West Valley's business prognosis from cautiously hopeful, the outlook a year ago, to downright optimistic. "We have the winds at our back after having a stiff wind in ... more

Condos get red light from planning commission | 4/21/2012

A two-story complex of condos that would abut Gold Canyon Golf Course was given a recommendation of denial by the Pinal County Planning and Zoning Commission on Thursday. In a 7-1 vote (Chairman Ph ... more

Phoenix Realtors seeing bidding wars as foreclosures get snatched up | 4/20/2012

A “for sale” sign goes up, and within 24 hours multiple offers are made on the house — some above the asking price, and often all-cash. That’s how Sheri McBroom of Re/Max Professionals describes th ... more

Tom Lewis of T.W. Lewis | 4/20/2012

Tom Lewis entered the home-building profession right after graduate school. After jobs in Pennsylvania, Ohio and Virginia, he came to Phoenix in 1979 to work for UDC Homes. He stayed with UDC for s ... more

Top reasons Americans relocate | 4/20/2012

When I was a young man, I moved often. Then I found a good job, got married, and children quickly followed. I stopped moving. That job is long gone, the kids are grown up and living elsewhere, but I'm ... more

Scottsdale City Council clears way for beach club | 4/19/2012

The Scottsdale City Council this week cleared the way for development of a new beach club in the city's entertainment district. Two applications related to the proposal submitted by property owne ... more

William Lyon Homes Roars Out of Bankruptcy | 4/19/2012

Adding to the evidence that this year will offer a brisker spring sales season than the industry has seen in years, William Lyon Homes reported an explosion of sales orders in the first quarter. For t ... more

Alter Group to develop $36M distribution center in Phoenix | 4/18/2012

The Alter Group is developing a $36 million, 605,700-square foot warehouse and distribution center as a spec project at a site it owns in Phoenix. The project at the Buckeye Logistics Center at Buc ... more

City hall groundbreaking Saturday | 4/18/2012

The city of Maricopa will hold a groundbreaking for its permanent City Complex 10 to 11 a.m. Saturday. The first phase of this complex includes construction of the 45,000-square-foot Maricopa City ... more

Deco group gives aging apartments 'retro-modern' vibe | 4/17/2012

Scottsdale-based Deco Communities is investing in the Phoenix-area apartment market by purchasing communities up to a half-century old and giving them a "retro-modern" makeover. Deco, led by form ... more

Phoenix and Tempe expected to lead commercial real estate rebound | 4/16/2012

There are continued indications that when the commercial real estate market awakens from its recession-induced slumber that downtown Phoenix and Tempe’s Mill Avenue will sound the wake-up call. A f ... more

Sonoran Acres revived near Surprise | 4/16/2012

In April 2009, Scottsdale-based homebuilder Michael Ripson opened and then quickly shut down a subdivision project called Sonoran Acres. Ripson, who founded Ripson Homes in 2001, said no buyers m ... more

Curis receives $40 million loan to start Florence mine project | 4/13/2012

Curis Resources Inc. officials last week announced the company has reached a final agreement on key terms of a $40 million loan to advance the first phase of its copper mining project near Florence. ... more

New DMB head rosy on housing | 4/13/2012

DMB Associates promoted Charley Freericks to president this week. Here are some of the Arizona real-estate veteran's opinions on the housing market and DMB's future. Question: How would you descr ... more

Homebuilders busy again in corners of metro Phoenix | 4/13/2012

Homebuilding, metro Phoenix's biggest industry before the housing crash, is on the rise again. Unlike in the past, this burst in the region's homebuilding isn't being driven by buyers going farther ... more

A Long-Term Look for Eastmark | 4/9/2012

Listening to the land and understanding a regional context for a major new community can be a daunting task. The vision and the legacy of a new large-scale community will impact a region for decades i ... more

Arizona population growth could rebound | 4/9/2012

Arizona’s brisk population growth during the past decade was derailed by the Great Recession but could continue again within the next few years. The Yuma Sun reported that while the state’s populat ... more

Developer seeking state land for 2 Scottsdale auto lots | 4/6/2012

A developer hopes to acquire more than 29 acres of state trust land for two car dealerships on Scottsdale Road just south of Loop 101. Diversified Partners of Scottsdale submitted preliminary pla ... more

‘No build’ option personal for GRIC members | 4/6/2012

Those fighting for a “no build” option for the Loop 202 are doing so for very personal reasons. Lori Riddle, a Gila River Indian Community (GRIC) member and member of Gila River Alliance for a Cle ... more

Huge warehouse planned in Avondale | 4/5/2012

A large real-estate developer and investment manager are teaming up to build a sprawling, 1 million-square-foot speculative warehouse complex in the West Valley. The Dallas-based Trammell Crow Co ... more

Bullard Avenue investment zone pursued in Goodyear | 4/4/2012

Goodyear is eyeing the transformation of sleepy Bullard Avenue to create a high-paying jobs and manufacturing corridor along a road that is now lined mainly with farm and untended fields. The cor ... more

3rd high-rise to join Lakeside development | 4/4/2012

Ryan Cos. U.S. Inc. announced last month that it will build a 10-story office tower on the southern shore of Tempe Town Lake next to two existing office high-rises that house major financial and tec ... more

Phoenix-area office market shows life with new projects | 4/4/2012

Although the metro Phoenix office market continues to struggle, it performed well enough during the first quarter to prompt a handful of office developers to announce plans for new projects, commerc ... more

Arizona Public Service Co. gets go-ahead to build Yuma solar plant | 4/4/2012

Arizona Public Service Co. and the Arizona State Land Department have reached an agreement to build a 35-megawatt solar power plant near Yuma. Under the terms of the deal, APS will pay $10 million ... more

New SR24 freeway directly connects east Mesa, Gateway Airport, to Valley | 4/3/2012

A lonely expanse of creosote will become a frenzy of construction activity on Monday as crews will start building a new freeway that’s expected to spur development in east Mesa. The state Route 24 ... more

Phoenix Premium Outlets lands Saks Fifth Avenue as anchor tenant | 4/3/2012

The Phoenix Premium Outlets now under construction on the Gila River Indian Community will be anchored by a Saks Fifth Avenue OFF 5th store, executives said Tuesday. A Simon Property Group project, ... more

APS, Arizona State Land Department agree on solar project | 4/3/2012

Arizona Public Service Co. and the Arizona State Land Department have reached an agreement on a 35-megawatt solar power plant to be built near Yuma. The move, which would have APS lease the land fo ... more

NE Mesa apartments proposal moves ahead | 4/3/2012

An earth-friendly northeast Mesa apartment complex appears headed for City Council approval after the developers agreed to make more space for cars. The council voted unanimously Monday to introd ... more

APS to use state land for solar | 4/3/2012

The Arizona State Land Department will earn $10 million during a 35-year lease for its first solar power plant, a Yuma project that will power Arizona Public Service Co. The department and the ut ... more

Arizona housing on the mend: Why it's time to sell or buy | 4/2/2012

Outside the Superior Courthouse in Phoenix, a crowd grows around a white pop up tent with bold green lettering. Every Tuesday morning at 9:00 a.m. passes out numbered paddles in an attempt ... more

Phoenix-area home prices headed upward | 3/31/2012

Home prices are climbing in metro Phoenix faster than they have since the housing boom. Some parts of the region experienced home-value increases of 5 to 10 percent a month this year because of a ... more

Southeast Valley housing market shows signs of hope | 3/30/2012

The bad news: housing prices as a whole in 2011 declined in 25 of the 29 communities in Maricopa County, and in the Southeast Valley, Mesa, Chandler and Gilbert are among those 25. The good news: ... more

Downtown Scottsdale beach club plan advances | 3/30/2012

Developer Shawn Yari moved one step closer this week toward developing his beach club in downtown Scottsdale's entertainment district. The Planning Commission voted Wednesday to recommend City Co ... more

Home supply dwindles | 3/30/2012

The housing market in Pinal and Maricopa counties still isn’t good, but it’s a good deal better than it was a year ago. That’s the conclusion of Michael J. Orr, director of the Center for Real Esta ... more

Arizona foreclosure picture brightens | 3/29/2012

The number of home foreclosures in Arizona is falling, but the state is still ranked in the top five for the highest number of foreclosures in the past year, according to CoreLogic. The national re ... more

Investment home sales jumped last year | 3/29/2012

A high-end subset of the housing market showed resilience last year, with sales of vacation and investment homes jumping to the highest level since 2005. The National Association of Realtors says i ... more

Phoenix economy among fastest-growing in U.S. | 3/28/2012

Most people would argue that the Phoenix economy is improving, but according to a new report from the Brookings Institution, that growth can be traced back longer than the start of this year. The i ... more

Phoenix market improving, housing supply shrinking | 3/28/2012

A new report from Arizona State University says the Phoenix-area housing market is continuing to improve from last year, with a shrinking supply of available homes. The report's author, Mike Orr, s ... more

Real Estate Report Says Phoenix Area Improving | 3/28/2012

A new report from Arizona State University says the Phoenix-area housing market is continuing to improve from last year, with a shrinking supply of available homes. Researchers from the W. P. Carey ... more

Construction begins on 90-store upscale outlet center | 3/27/2012

Simon Property Group Inc. – a corporation that has expanded in a few decades from a handful of shopping malls in Indianapolis to 230 retail centers across the globe – joined the Gila River Indian Comm ... more

Phoenix housing market shows strong rebound | 3/27/2012

Two reports, one national and one local, suggest a healthy rebound in the Phoenix housing market. According to a report authored by Michael Orr at the W.P. Carey School of Business at Arizona State ... more

Closing in on Recovery | 3/27/2012

The national housing data this past week from the Census and NAR was a bit of a wet blanket on what was thought to be an improving market. With the exception of price increases in both the new and ex ... more

Fewer Phoenix-area homes for sale- prices up | 3/27/2012

A surge in buyers and a drop in foreclosures have left a shortage of houses for sale in metro Phoenix, according to a newly released report on the state of the housing market. The shrinking inven ... more

Phoenix, Tucson among Top 50 U-Haul destination cities | 3/27/2012

Phoenix-based U-Haul International Inc. has released its annual list of the Top 50 destination cities in the nation, and both Phoenix and Tucson made the cut. The ranking reflects destinations for ... more

Phoenix, Tucson among Top 50 U-Haul destination cities | 3/27/2012

Phoenix-based U-Haul International Inc. has released its annual list of the Top 50 destination cities in the nation, and both Phoenix and Tucson made the cut. The ranking reflects destinations for ... more

300 acres of Mesa farmland sold | 3/26/2012

A San Diego-based limited partnership has purchased more than 300 acres of farmland at the southeast corner of Pecos and Ellsworth roads in Mesa, just south of Phoenix-Mesa Gateway Airport, a broker ... more

Apartments on tap at Morrison | 3/23/2012

Morrison Ranch will soon get its first apartment complex. The 228-unit apartment complex will be going up on a 14-acre parcel of land that Scottsdale-based P.B. Bell Companies bought from the Ari ... more

Shea Homes introduces full-size luxury duplexes at Vistancia | 3/23/2012

Duplexes are common forms of housing in the Midwest and on the East Coast, but they are rarely built in Phoenix. Shea Homes, however, is changing that with the rollout of Caletas at Blackstone, in the ... more

High rise building planned for Tempe Town Lake | 3/20/2012

Ryan Companies U.S. Inc. and Sunbelt Holdings announced today that they will build a new 10-story high rise office tower on the southern shore of Tempe Town Lake next to an existing office tower tha ... more

Tempe to expand Hayden Ferry Lakeside -- eventually | 3/20/2012

Today in the shadows of the Hayden Ferry Lakeside commercial development, Tempe officials articulated the city’s accomplishments since the recession nearly strangled the country’s economy. The verbal ... more

FDIC suing former Silver State Bank executives | 3/19/2012

Four former bankers from Silver State Bank were grossly negligent and approved Arizona and Nevada land loans in violation of the bank’s lending policies that ultimately caused the bank’s failure, acco ... more

Wind farms, energy plants trouble some Western US tribes | 3/19/2012

Some renewable energy projects in Western states, including wind farms, are running into opposition or concerns from American Indian tribes, who cite concerns about wind, solar and other energy plants ... more

Judge rules against Grand Canyon Skywalk developer | 3/19/2012

A Las Vegas developer must keep fighting in tribal court as he tries to retain his contractual rights to the Grand Canyon Skywalk, a federal judge ruled Monday. David Jin invested $30 million to ... more

Luxury apartment complex planned for Chandler | 3/19/2012

Butte Cos., which built the Landmark at Kierland luxury condos, is investing $35 million in a 10-acre mixed use project proposed in Chandler. The Scottsdale-based developer will build 222 luxury ap ... more

New Phoenix-area shopping centers taking shape | 3/17/2012

Two new major shopping venues will soon open in the Valley. This week, Glendale officials held an official groundbreaking for the new Tanger outlet mall near Westgate. The outlet center is set t ... more

Housing market at center of mortgage crisis is blooming again | 3/17/2012

Want a sign of economic hope? Look to a place where the housing collapse began: Phoenix, Arizona. "We're talking about (home) prices being 3 to 4% higher than last year, which most people don't bel ... more

'Worst Is Over' in Housing Crunch | 3/16/2012

The decline in home values and the lethargic housing market are coming to an end in Phoenix, and where Phoenix goes, the rest of Arizona will follow, says an Arizona State University real estate exper ... more

Phoenix’s Developer Turned Landlord | 3/16/2012

By the time the federal government announced its plan last month to begin selling REOs owned by Fannie Mae to investors to be converted into rentals, Phoenix-based The Empire Group of Cos. was already ... more

Cities With the Most New Construction | 3/16/2012

Thanks to the housing bubble, Phoenix garnered a reputation for dusty abandoned homes and half-built tracts of retail sprawl. Arizona’s biggest city suffered a 55% drop in home prices since the 2006 p ... more

Arizona No. 3 in foreclosures over past year, but rate drops | 3/15/2012

New CoreLogic data shows Arizona had the third most home foreclosures among states in the past 12 months. The number was 65,000 between January of 2011 and the same month this year -- the same as M ... more

Tempe is ready to build, but where are the developers? | 3/14/2012

The city of Tempe is actively pitching itself to developers. “If you’ve got the right project, we’ve got the land,” said Kris Baxter-Ging, community development marketing specialist. “We need more ... more

South Mountain Freeway effort- New vote needs 700 signatures | 3/13/2012

Backers of a new plan to move the South Mountain freeway extension out of Ahwatukee Foothills and onto Gila River Reservation land have about three weeks to collect 700 signatures for their cause. ... more

Farmland Prices Expected To Keep Rising | 3/13/2012

A survey indicating that farmland values are expected to continue increasing is more good news for landowners but could also signal caution for buyers. The survey was conducted Feb. 15 at the win ... more

Phoenix home foreclosure rate moving lower | 3/13/2012

CoreLogic reports that foreclosure activity in the Phoenix metro area dropped in December as compared with December 2010. The rate of foreclosures among outstanding mortgages was 2.91 percent in De ... more

Phoenix home sales increase as prices move higher | 3/13/2012

Home sales are up, inventory is down and prices are improving slightly in the Phoenix metro area. That’s the latest assessment from the Arizona Regional Multiple Listing Service. There were 7,249 h ... more

Rise in Phoenix Housing Shows Path for Other Cities | 3/12/2012

As home prices continue to drop in most cities, a nascent real-estate rebound here holds lessons for the rest of the country. This sprawling desert metropolis was one of the hardest hit housing mar ... more

Longtime Arizona Contractor Closes Its Doors | 3/12/2012

Schuck & Sons Construction, which over 46 years as a framing contractor has helped build more than 100,000 homes in Arizona, will spend the next three or four months winding down its operations after ... more

'Americana' village gains | 3/9/2012

Gilbert developer Joe Johnston made a splash at the town's Planning Commission meeting Wednesday with plans for a mixed-use village at Agritopia that likely would be unique to the Valley. The case, ... more

Reagor: Home prices, sales inch up | 3/9/2012

A look at the latest data for metro Phoenix's housing market shows home prices continue their slow recovery. The median price for an existing home in the region inched up to $122,500 in February ... more

Resort plans under review | 3/9/2012

A Tempe-based firm wants to bring a 220-acre residential resort to northeast Cave Creek. The project, called Enchanted Canyon Resort, includes single-family residential lots and a resort facility ... more

Sun Corridor projection: 9M population by 2040 | 3/9/2012

For generations, Arizonans have talked about the potential merger of Phoenix and Tucson into a single urban area. The expectation was that they would blend together seamlessly, much the way Phoenix an ... more

Arizona’s ‘megapolitan’ plan for Sun Corridor off to slow start | 3/9/2012

It’s been nearly four years since Arizona State University’s Morrison Institute for Public Policy published “Megapolitan — Arizona’s Sun Corridor,” a report predicting the eventual evolution of an eco ... more

Arizona lawmakers want control of federal land | 3/9/2012

Arizona legislators are moving a bill forward to give the state more control over the scores of acres here that are in the hands of U.S. government agencies. If the measure is passed, the state cou ... more

Phoenix-Mesa Gateway Airport-area home plan | 3/8/2012

Several thousand people will eventually live next door to Phoenix-Mesa Gateway Airport under a plan unveiled Thursday for the Mesa City Council. It's the second major housing development proposed ... more

Construction begins on downtown Phoenix multifamily project | 3/7/2012

Construction began Tuesday on a multifamily project near the downtown campus of Arizona State University. Scottsdale-based Concord Eastridge and its partner EdR are building the apartment project t ... more

Plans unveiled for big resort near Prescott | 3/5/2012

A Phoenix developer has unveiled plans for a large resort in Yavapai County by 2014. ABM Development Services President Gregory Arrington says the resort would be built near Poland Junction, between ... more

Fulton, 80, still building his legacy | 3/3/2012

The housing market may be sluggish, but homebuilding mogul, philanthropist and Arizona original Ira Fulton is still moving full steam ahead. At 80, the founder and chairman of Tempe-based Fulton Hom ... more

Downtown Phoenix to get more apartments | 3/3/2012

Crews are prepping a downtown Phoenix property to lay the foundation for 325 apartments that a Scottsdale-based developer anticipates will house a number of college students after it is finished in ... more

Homebuilders offering self-sufficient, sustainable homes | 3/3/2012

Homebuilders are trying to capitalize on public angst toward electric utilities by offering "net-zero, no-electric-bill homes" that promise to wipe out monthly bills, but the details are a little mo ... more

Homeowners win $13.6M in arbitration against Del Webb | 3/2/2012

An arbitration panel has awarded homeowners in the Sun City Grand community in Surprise $13.6 million as compensation for construction defects at homes built by Del Webb Communities Inc., a subsidiary ... more

APS seeks proposals for solar plant | 3/2/2012

Arizona Public Service Co. Arizona Public Service Co. Latest from The Business Journals Follow this company is seeking proposals to build a 14-megawatt solar photovoltaic power plant that will be p ... more

Scottsdale advances rezoning request for dude ranch | 3/1/2012

Plans for a north Scottsdale guest ranch made headway this week when the Scottsdale City Council signed off on rezoning and other requests, paving the way for the dude ranch that supporters said wil ... more

Northern Parkway construction under way in the West Valley | 3/1/2012

F-16s from Luke Air Force Base roared overhead and West Valley leaders dug their shovels into dirt this week as the Northern Parkway project, a decade in the making, is now under way. Phase 1 of th ... more

Arizona banks on trend to recovery | 2/29/2012

Arizona's banking industry shrank dramatically during 2011, but the survivors ended the year on a much healthier note. Some 48 percent of Arizona-based banks were unprofitable in last year's fourth ... more

American Solar, Keystone Homes partner on Rancho Madera installations | 2/29/2012

American Solar Electric American Solar Electric Latest from The Business Journals Follow this company and Keystone Homes Keystone Homes Latest from The Business Journals Keystone Homes plans to ... more

Arlington Valley Solar II gets financing for solar farm near Phoenix | 2/29/2012

A 127-megawatt solar farm west of Phoenix has received financing that will help construct the $550 million power plant. Arlington Valley Solar Energy II, to be built on 1,100 acres in an area that ... more

Signs of upturn in Phoenix's long-suffering housing market | 2/28/2012

The Phoenix housing market is showing signs of improvement, even generating bidding wars among buyers for lower-priced homes. The area was one of the hardest hit by the foreclosure crisis. Prices h ... more

First Solar plant delayed further | 2/28/2012

Facing a tough global market for solar power, Tempe-based First Solar Inc. said Tuesday that it lost $413 million in the fourth quarter and that it would further delay opening its factory in Mesa. ... more

5,700 apartment units planned for Scottsdale | 2/28/2012

A condominium-development bust in Scottsdale has given way to a boom of developers lining up to build 5,700 apartments in 18 projects citywide. Optima Sonoran Village is the first project to get it ... more

First Solar to delay Mesa facility operations | 2/28/2012

First Solar Inc. First Solar Inc. Latest from The Business Journals First Solar delays Mesa production plantFirst Solar reports large 4Q loss, loses million in 2011First Solar, Big Green Zero work ... more

High-profile Scottsdale site sold to Dallas apartment developer for $13.8M | 2/28/2012

Another property that was collateral for a Mortgages Ltd. Mortgages Ltd. Latest from The Business Journals Popular 44th & Camelback site in Phoenix facing foreclosureScottsdale site sold to Dallas ... more

Scottsdale Waterfront parcel sells for $13.5M, will be apartments | 2/27/2012

Property that had been slated for another condo tower at the Scottsdale Waterfront instead will become pricey apartments. Alliance Residential Alliance Residential Latest from The Business Journ ... more

SunCor Development files for bankruptcy | 2/27/2012

Pinnacle West Capital Corp. subsidiary and once-prominent local developer SunCor Development Co. has filed petitions in U.S. Bankruptcy Court as a final step toward dissolving the company and its re ... more

Vote signals end of Mesa's Riverview Golf Course | 2/27/2012

The end is closer than was once thought for one of Mesa's beloved recreational amenities. But even as the City Council seals its fate Monday night, another vote could signal new opportunities for ... more

Chandler district buying land for new schools | 2/27/2012

The Chandler Unified School District governing board recently approved the purchase of two plots of land to hold future schools. The first lot is 13 acres south of Ocotillo and west of Power Road i ... more

Phoenix may rezone state parcel | 2/25/2012

Phoenix is considering rezoning a state-owned parcel in preparation for development that is half a year away at the soonest. The 33.6 acres are on the southwestern corner of Princess Drive and Sc ... more

Outlet mall welcomed as a draw for Glendale Westgate | 2/24/2012

Merchants and shoppers this week welcomed the news that an outlet mall will open this fall within walking distance of Westgate City Center. Tanger Outlet Center Westgate will be built near Loop 1 ... more

DMB offers model for resiliency | 2/24/2012

Several developers and builders have had their turn to dominate metro Phoenix's housing market and growth economy since the last housing crash about two decades ago. Some of those companies are g ... more

Court hears Elevation Chandler case | 2/24/2012

Lawyers feuding over who owns Elevation Chandler argued their cases Wednesday before the Arizona Supreme Court. The five justices puzzled over the three trustee sales that were held for the 10.5- ... more

Farmland going for a premium | 2/23/2012

In the last five years, Lon Frahm has bought 4,000 acres of farmland, expanding the size of his wheat and corn operation to more than 30 square miles of western Kansas. He's done so as farmland pric ... more

Phoenix housing market showing signs of recovery | 2/23/2012

The housing market in the Phoenix metro area is showing signs of improvement, according to a study released today by the W.P. Carey School of Business at Arizona State University. “Single family ho ... more

South Mountain freeway fight goes in new initiative | 2/23/2012

Pro-development forces are taking the South Mountain Freeway fight to tribal landowners less than a month after the Gila River Indian Community rejected putting the freeway on community land. The ... more

Upbeat findings for Arizona housing market | 2/23/2012

Metro Phoenix home prices are up. Fewer inexpensive homes are for sale, and the number of pending foreclosures is down. The positive housing-market update comes from Arizona State University's newe ... more

Phoenix Mart project in Casa Grande: Ancillary advantages | 2/22/2012

The 1.5-million-square-foot Phoenix Mart showroom project proposed on the east side of Casa Grande won’t bring in a lot of city sales tax itself, but the levy from hotels, restaurants and other busine ... more

Investors eyeing McDowell corridor in Scottsdale | 2/22/2012

Metro Phoenix residents are eager to see new life along the nearly 3-mile stretch of McDowell Road from Loop 101 to 64th Street. It was standing-room only at a recent meeting of the Scottsdale Ci ... more

Building jobs on rebound | 2/22/2012

Construction employment is on the rise in Arizona and across the U.S., according to an economist who spoke Tuesday at a national construction-industry convention in Phoenix. In 2011, Arizona cons ... more

Developer's ties to Paradise Valley mayor hopeful eyed | 2/22/2012

More details are emerging about a decision by the developer of the Ritz-Carlton project in Paradise Valley to support Maria Syms in the town's upcoming mayoral election. Jerry Ayoub, CEO of Scott ... more

Construction begins on Tanger outlet mall in Glendale | 2/21/2012

Construction is now under way on a new Tanger outlet mall slated for Glendale. Set to open this fall, Tanger Outlet Center Westgate will be a 328,000-square-foot outlet mall with 85 stores. Names o ... more

Grubb & Ellis files bankruptcy, sells assets to BGC Partners | 2/21/2012

Commercial real estate advisory firm Grubb & Ellis Co. on Monday filed for Chapter 11 bankruptcy protection. Grubb & Ellis has agreed to sell almost all of its assets to BGC Partners Inc. (Nasdaq: ... more

Feds identify 237,100 acres in Arizona for renewable energy projects | 2/20/2012

The Bureau of Land Management has recommended 237,100 acres of public land in Arizona are suitable for renewable energy development, part of an effort to speed up the process for clean-energy companie ... more


Is the American dream of home ownership about to be rekindled after a bruising recession forced many potential homebuyers to remain renters? Jay Brinkmann, chief economist at the Mortgage Bankers Asso ... more

Bad news on Phoenix area home valuations, but next year may be better | 2/18/2012

Few Maricopa County homeowners will be surprised when they open their latest property valuations to learn that their homes are officially worth less than they were a year ago. It's the fifth straigh ... more

Arizona home development's course changes with downturn | 2/18/2012

On the western edge of metro Phoenix, nearly 2,000 homes surround a small downtown. Spanish- and Craftsman-style houses line the quiet side streets, their front porches facing out to greet visitors. ... more

Luxury units are planned for downtown Scottsdale | 2/17/2012

Scottsdale's latest downtown infill-incentive proposal calls for construction of a 420-unit luxury apartment complex northwest of Indian School Road and Goldwater Boulevard. Zaremba Residential C ... more

Owners may be compensated if cities change property use rules | 2/17/2012

Cities that change rules about how property can be used can be forced to compensate the owners, the Arizona Court of Appeals has ruled. In a unanimous ruling, the judges said the new restriction en ... more

Queen Creek looking to upgrade town center | 2/16/2012

Both small and large changes to the appearance of Queen Creek's town center are under way as the community takes advantage of new business investment and helps smaller commercial-property owners imp ... more

Tanger outlet mall set for Westgate site in Glendale | 2/16/2012

Glendale's beleaguered Westgate City Center should get a shot of consumer energy later this year, when Tanger Factory Outlet Centers Inc. opens a new outlet mall on the site. The project, called ... more

Homebuilder optimism rises for 5th straight month | 2/15/2012

U.S. homebuilders are gradually growing more optimistic about the depressed housing market and believe homes sales could pick up sharply when the spring buying season begins. The National Associati ... more

Homebuilder Confidence Rises to Highest Since 2007 | 2/15/2012

U.S. homebuilders are gradually growing more optimistic about the depressed housing market and believe homes sales could pick up sharply at the beginning of 2012. The National Association of Home B ... more

Shea Homes rolling out 'net zero' homes for active adults | 2/15/2012

Shea Homes Active Adult Communities locally and nationally will offer “net zero” homes as a standard feature starting this week. Net zero means that a home generates as much power as it consumes. Shea ... more

Builder Confidence Hits Four-Year High | 2/15/2012

The feeling inside the convention center at this year’s International Builders’ Show, held last week in Orlando, Fla., was noticeably more hopeful than what the show has seen for several years—a mix o ... more

Avatar Holdings Changes Its Name, Business Plan | 2/15/2012

Avatar Holdings had its name long before James Cameron dreamt of a movie about blue people on a far-away planet, and before there was an Internet where home buyers could search for new homes. But, ... more

Flurry of construction projects is good news for Valley | 2/14/2012

More than 4 million square feet of industrial-building space and at least 5,000 apartment units are under construction or in the planning stages in the Phoenix area, real-estate analysts said. Th ... more

Proposed tribal casino case goes to court | 2/14/2012

In April, Glendale leaders and others will ask a court to overturn a federal decision to grant reservation status to a 54-acre tract near the city that is owned by a southern Arizona tribe. The U ... more

AZ landowner capitalizes on solar development | 2/14/2012

The largest landowner in Arizona would have been in big trouble when the real estate bubble burst if it weren’t for solar. Vermaland is a family-owned business. When the Vermas moved to Arizona abo ... more

Home builders see reasons for optimism | 2/10/2012

Barb Jandric, the head of Minnesota's biggest real estate broker, hasn't seen the Minneapolis market boost sales without government aid in six years -- until a narrow gain in 2011. Ryland Chief Exec ... more

Design OK'd for Blue Sky | 2/10/2012

The Scottsdale City Council this week narrowly approved the design-review application for Blue Sky, a $135 million apartment complex of 13 stories to be built east of Scottsdale Fashion Square. L ... more

South Mountain Freeway battle may not end with tribal vote | 2/8/2012

Despite Gila River Reservation residents' resounding "no" vote Tuesday, the battle over where the South Mountain Freeway extension will land may not be over. The unofficial returns of Tuesday's v ... more

Home Building Outlook: Most Local Markets to Improve in 2012 | 2/8/2012

Although new-home building isn’t likely to go gangbusters in the next 12 months, the worst seems to be over, according to the Home Building Outlook, a new quarterly report from Hanley Wood Market Inte ... more

Foreclosure inventory in Phoenix declining | 2/8/2012

Foreclosure inventory in the Phoenix metro area is down compared with a year ago, according to data released Wednesday by CoreLogic. In the Valley the foreclosure inventory in December 2011 was dow ... more

Gila River Indian Tribe votes on South Mountain Freeway today | 2/6/2012

When the Gila River Indian Community votes Tuesday on whether to permit the South Mountain Freeway to be built across its land, it will end decades of uncertainty about a critical link in the Valley ... more

Gilbert's Morrison Ranch is top seller in state in 2011 | 2/6/2012

A master-planned community in east Gilbert sold more units last year than any other community of that type in Arizona, according to a national housing-market analysis firm. Morrison Ranch, a 2,00 ... more

Real-estate experts in Arizona are guarded but hopeful | 2/3/2012

No one at this year's Urban Land Institute conference predicted when metro Phoenix's housing market will rebound. The annual Arizona conference, where real-estate industry leaders convene and pre ... more

Gilbert panel OKs proposals for 4 sites, hundreds of new homes | 2/3/2012

Developers continue to see Gilbert as a prime location for new-home building as proposals for four more subdivisions went before the Planning Commission on Wednesday. The commission also reviewed ... more

MC Companies, Clark-Wayland form joint venture | 2/3/2012

Scottsdale-based MC Companies and Phoenix-based Clark-Wayland have merged to create a joint venture called MC Clark-Wayland. The venture will focus mainly on development and construction of new mul ... more

Fluor to build 125 MW solar facility near Palo Verde | 2/3/2012

Fluor Corp. Fluor Corp. Latest from The Business Journals Fluor wins M contract to service 4 Jacksonville military basesPike to work on clean line projectMore HOT lanes headed to I-95 for almost B ... more

Valley’s first speculative office building in 2 years rising in Chandler | 2/3/2012

The Valley's first speculative office building in more than two years is being constructed in Chandler, where vacancy rates have plummeted in spite of the shaky economic recovery. The building will ... more

Glendale brings back development to Bell Road corridor | 2/2/2012

Glendale is revitalizing an area of Bell Road that had been hit hard by the recession with 11 new businesses and an effort to eventually bring in more office occupants. The city has helped to find ... more

Top 10 turnaround towns | 2/1/2012

After five years of a brutal post-bubble price correction, Phoenix is rising from the dead. "We have jobs," said Tanya Marchiol of Team Investments, a local real estate investing firm. "Not a lot o ... more

Home prices dropped in November everywhere except Phoenix | 1/31/2012

Washington. U.S. home prices fell for a third straight month in nearly all cities tracked by a major index. The declines show that most homeowners are not reaping the benefits from some signs of an im ... more

Phoenix Mart working on ADOT OK | 1/31/2012

The Arizona Department of Transportation has had several questions about traffic associated with the proposed Phoenix Mart project on the east side of Interstate 10. The developers told the Casa Grand ... more

New Queen Creek community features luxury homes | 1/31/2012

Fulton Homes has opened a new community in Queen Creek called Victoria Estates and says it has sold four of the planned 45 lots. THE HOMES The single-level homes will be on lots of at least a ... more

Phoenix home foreclosures on the decline | 1/30/2012

Foreclosure rates in the Phoenix area are continuing to move lower, according to new data from CoreLogic , a national real estate research firm. Of existing mortgages, 3.07 percent were in foreclos ... more

Hopes high in W. Valley for 303 Work | 1/28/2012

Construction of a freeway interchange that will link an improved Loop 303 to Interstate 10 is the needed linchpin in what one day will be a commercial corridor similar to Loop 101, officials say. E ... more

Outlet mall on Gila River land concerns Chandler | 1/27/2012

Construction will start before summer on an upscale 90-store outlet mall south of Chandler on the Gila River Reservation. Developers made the announcement during a ceremonial lease-signing last w ... more

Scottsdale luxury apartment, retail project gets approval | 1/27/2012

An apartment complex and boutique shopping area at a high profile corner in Scottsdale are one step closer to reality. By a vote of 5-2, the Scottsdale City Council this week approved a plan for Al ... more

Housing Crisis to End in 2012 as Banks Loosen Credit Standards | 1/24/2012

Capital Economics expects the housing crisis to end this year, according to a report released Tuesday. One of the reasons: loosening credit. The analytics firm notes the average credit score r ... more

DMB Associates spins off Pacific Division into new company | 1/23/2012

DMB Associates Inc. .DMB Associates Inc. Latest from The Business Journals Proving Grounds player building water park with Dolly PartonHome building to start on former GM Proving GroundsDon Cardon ... more

Developer DMB to split operations | 1/23/2012

Prominent developer DMB Associates, based in Scottsdale, is spinning off part of its operations to create a Pacific division to handle its expanding interests in California, Nevada and Hawaii. DMB, ... more

Arizona inquiry finds no crime in $50 million Gilbert land deal | 1/23/2012

Attorney General Tom Horne's office has found no criminal activity after a 10-month investigation into Gilbert's $50.2 million purchase of future parkland without a qualified appraisal. The land ... more

Former JetBlue Financial Chief Joins Taylor Morrison | 1/23/2012

Taylor Morrison has hired former JetBlue Airways CFO Ed Barnes as its new finance chief, the company announced Monday. Barnes, 47, who starts work at the Phoenix-based Taylor Morrison next week, re ... more

Marana envisions transport 'gold mine' | 1/21/2012

A controversial planned rail yard that Picacho residents saw as an eyesore is being eyed by Marana politicians as a thing of economic-development beauty. "We think it's an absolute gold mine, for ... more

State's High Court to hear property feud | 1/20/2012

The Arizona Supreme Court will hear the feud over who owns Elevation Chandler. The justices will hear oral arguments at 9:30 a.m. Feb. 22 regarding ownership of the property. Construction of a ... more

More than 220 acres of land sold in Casa Grande | 1/20/2012

Land that was part of the proposed 2,000-acre Coyote Springs master plan in Casa Grande was sold in two transactions this week. The largest deal involved nearly 189 acres of land along the south si ... more

Phoenix Housing Rises as Canada Buyers Seek 55% Desert Discount | 1/20/2012

Bob Major returned to Phoenix in October in search of more bargains like the four empty houses he bought in 2010 at rock-bottom prices. The retired builder from Vancouver instead found real estate abo ... more

Builder Confidence Up Again in January | 1/18/2012

In January, for the fourth month in a row, builders reported improved confidence about the market for newly built, single-family homes, according to the National Association of Home Builders (NAHB)/We ... more

Is housing glut over? Experts predict housing shortage by spring | 1/18/2012

Real estate experts predict the Valley’s years-long housing glut is reaching its end and, as early as this spring, could stun home buyers by transforming into a shortage. The crunch is expected to ... more

Phoenix new home sales on the rise | 1/18/2012

New home closings in metro Phoenix increased in December, as did the number of building permits pulled by home builders. That’s according to new data provided by Valley-based RL Brown Reports. Ther ... more

Mark-Taylor, Archstone planning new north Phoenix apartments | 1/18/2012

Scottsdale-based Mark-Taylor is joining forces with national apartment developer Archstone to build a 388-unit community dubbed San Norterra near the intersection of Norterra Parkway and North Valley ... more

Growing interest leaves homebuilders less gloomy | 1/18/2012

U.S. homebuilders are growing a little less pessimistic about the depressed housing market after seeing more people say they might be open to buying a home this year. The National Association of ... more

Phoenix Premium Outlets slated for Gila River Indian Community | 1/17/2012

A new 360,000-square-foot outlet mall is taking another step forward in the East Valley. Simon Property Group .Simon Property Group Latest from The Business Journals Outlet mall coming to East V ... more

Sekisui House Boosts Its Investment in U.S. Development | 1/16/2012

Newland Communities’ land development partnership with a subsidiary of Japanese home builder Sekisui House more than tripled late last year with Sekisui buying out the interests of the California Pub ... more

What 2012 has in store for Pinal County | 1/14/2012

The start of a new year brings with it a host of new opportunities and Today Publications spoke with Pinal County Communications Manager Heather Murphy about some of the things that the County has to ... more

El Mirage showing that it's 'pro-growth' | 1/14/2012

As some Valley cities fight efforts to limit what development fees they can collect from builders, El Mirage is doing the opposite. The City Council voted last month to rescind all of its impact fe ... more

Mulac named board chairman for Home Builders Assocation of Central Arizona | 1/14/2012

Carl Mulac has been named board chairman of the Home Builders Association of Central Arizona .Home Builders Association of Central Arizona Latest from The Business Journals Real Estate industry, ch ... more

Developer pays $5.3M for apartment parcel near SanTan Village Mall | 1/14/2012

Southern California developer LWI Properties has purchased 17 acres near SanTan Village Mall for $5.3 million and will build 382 apartment units. The property is south of the southwest corner of Sa ... more

Foreclosures drop across Arizona in 2011 | 1/12/2012

Foreclosure tracking firm RealtyTrac says the number of Arizona homes repossessed by lenders in Arizona dropped by 14 percent last year. The state had the second-highest level of foreclosure act ... more

Help coming in March for underwater Phoenix-area homeowners | 1/12/2012

A long-awaited federal program will soon allow more Phoenix-area homeowners to refinance their mortgages and lower their payments in spite of owing far more than their homes are now worth. The ex ... more

Town limits enlarging once again | 1/12/2012

After a calendar year with no annexations, the Town Council began the new year with a public hearing on a new measure to continue the town’s northwestern push. The proposed “Barclay Annexation” is ... more

DMB pursues Mesa subdivision project | 1/11/2012

Primed by optimism over the region's future, DMB Associates is aggressively pursuing its development of the former General Motors Desert Proving Ground in Mesa. DMB, based in Scottsdale, said it ... more

Scottsdale bests Chandler, ranks as the 8th best-run city | 1/9/2012

Scottsdale has outranked Chandler as the eighth best-run city in the nation, according to an analysis by 24/7 Wall St. The financial news and opinion company said it chose Scottsdale for its heal ... more

Scottsdale resorts set for development | 1/8/2012

Scottsdale is poised for another wave of resort development with three properties that could add 1,000 rooms, villas and casitas over the next four years. The Reserve, Reata Ranch and Sereno Cany ... more

Phoenix-area office market remained flat in '11 | 1/7/2012

The Phoenix-area office market continued to struggle in 2011 with oversupply, high vacancy rates and a large number of property owners in default on their real-estate loans. However, conditions w ... more

Developer to buy remaining Quailwood lots, complete building | 1/6/2012

A real estate investment company has bought the remaining lots in the Quailwood subdivision here and plans to sell them to a developer to complete the master-planned community. Everest Holdings of ... more

Phoenix-area housing may be on the mend | 1/6/2012

Data from the end of 2011 suggest that a housing-market recovery has begun in metro Phoenix. The upswing in the market will surprise many because it comes less than five months after the region's e ... more

Eco-friendly resort, housing project takes shape in Scottsdale | 1/5/2012

A new eco-friendly resort and housing community is in the works for a 218-acre piece of property in North Scottsdale. To be called The Reserve, the property is located next to the McDowell Sonoran ... more

Phoenix foreclosure rate continues to fall | 1/5/2012

Foreclosure rates in the Phoenix area continue to move lower, according to new data from CoreLogic .CoreLogic Latest from The Business Journals CoreLogic: Phoenix home values down 5% from a year ag ... more

Real-estate expert Orr joins ASU as analyst | 1/5/2012

Arizona State University has a new real-estate analyst, but he's no newcomer to metro Phoenix's housing market. Mike Orr, publisher of the "Cromford Report," a daily online real-estate market ana ... more

Apartments planned on Fiddlesticks site | 1/3/2012

A 384-unit luxury apartment complex is slated for the former Fiddlesticks Family Fun Park in Tempe. Scottsdale-based Mark-Taylor Residential plans to develop a sprawling complex on the 19.5-acre ... more

FHA Will Keep Funding Flips | 1/3/2012

For the second year in a row, the Federal Housing Administration is extending a temporary waiver of its "anti-flipping" rule, meaning home buyers relying on FHA-insured financing will continue to be a ... more

Desert Ridge in northeast Phoenix falls short of original master plan | 1/2/2012

The Desert Ridge master-planned community has marked the 21st year since the Phoenix City Council approved plans for the 5,700-acre development in northeast Phoenix. But a combination of factors, ... more

Gila River Community to vote on South Mountain freeway | 1/2/2012

Residents of the Gila River Indian Community will vote Feb. 7 on whether to allow the controversial South Mountain Freeway extension on tribal land. While a favorable vote on relocation wouldn't ... more

SkySong ready to expand in Scottsdale | 1/1/2012

The new year brings the start of construction on two major developments at SkySong, the Arizona State University Scottsdale Innovation Center. Pre-leasing has begun on a third office building at ... more

Let's maximize Arizona's assets | 1/1/2012

Has Arizona gone bust? It sometimes looks that way, because we've spent the last year focused on the debit column. There was a long list of negatives in 2011, from education cuts to assorted scandals ... more

CFDs finance improvements for subdivisions | 12/31/2011

Developers here and throughout Arizona and the country have relied on forming community facilities districts to finance streets, water and sewer lines, and other public improvements. The CFDs enabl ... more

Stocks jump over housing market news | 12/30/2011

News that more Americans are poised to buy homes and hopes that the job market is primed for growth sent stocks higher Thursday. The four-week average of unemployment claims fell to a three-and-a-h ... more

Developer to restart downtown Chandler townhouses | 12/28/2011

. He has been called a visionary whose renovations of historic buildings helped spur revitalization of downtown Chandler. But Neils Kreipke didn't foresee one of the nation's worst recessions when ... more

Board approves guidelines for Pinal County metropolis | 12/26/2011

A plan to guide Pinal County's growth over the next decade now includes a roadmap to transform about 275 square miles of state land into a sustainable desert community near the Superstition Mountain ... more

Triyar may revamp Scottsdale district | 12/25/2011

Triyar Entertainment is unveiling two new plans to transform downtown Scottsdale’s entertainment district with high-end apartments, street-level retail and a relocated and redesigned beach club with a ... more

240-unit Zocallo luxury apartment project taking shape | 12/22/2011

Developers of the Zocallo apartments on the former Barcelona nightclub site hope to start construction by late next year and welcome their first residents by mid-2013. P.B. Bell & Associates Inc. ... more

Housing collapse almost over, Zillow says | 12/22/2011

After years of pain and a market free fall that has shaved $6.8 trillion off the value of the nation's 104 million homes, the decline in U.S. house prices may be nearly over. U.S. homeowners lost ... more

KB Home foresees an upturn | 12/21/2011

KB Home is increasingly catering to more affluent homebuyers in markets where there is less competition from homes up for resale and foreclosures, and the strategy is paying off. The homebuilder ... more

Demand for Rentals Drives Big Rise in Home Building . | 12/21/2011

Residential construction surged in November, sparking cautious hope that the U.S. housing market is gaining traction. Housing starts hit a seasonally adjusted annual rate of 685,000 units, the high ... more

City suspicious of Superstition Vistas plan | 12/21/2011

Print | E-mail | Comment (No comments posted.) | Rate | Text Size SOURCE: A resolution expressing concerns that Casa Grande has about the huge Superstition Vista ... more

Rockefeller Group has sights on Chandler project | 12/19/2011

The developer behind New York City's famed Rockefeller Center will soon begin marketing an office park in the Phoenix suburb of Chandler that would boast the city's tallest buildings. The Rockefell ... more

US homebuilders expressing less pessimism | 12/19/2011

Rising interest from would-be buyers is leaving U.S. homebuilders less pessimistic about the housing market. But tighter lending standards are still keeping many potential buyers from purchasing new h ... more

Goodyear parcel sells for $6 million | 12/18/2011

Avatar Holdings, a publicly traded community developer and homebuilder based in Coral Gables, Fla., said it has closed on the purchase of a 187-acre parcel in the Estrella master-planned community in ... more

Rules Stretched as Green Cards Go to Investors | 12/18/2011

Affluent foreigners are rushing to take advantage of a federal immigration program that offers them the chance to obtain a green card in return for investing in construction projects in the United Sta ... more

Union Pacific Rail Road facility has Pinal County’s support | 12/16/2011

The first in a series of informational meetings between Pinal County, the state of Arizona and Union Pacific Railroad (UPRR) regarding the logistics of the proposed Red Rock Classification Yard have t ... more

Declines in foreclosures, home supply bode well for 2012 | 12/14/2011

In many ways, 2011 has been the most difficult year Phoenix-area homebuilders ever have endured, but local builders and analysts said there are several reasons to anticipate a more robust new-home mar ... more

Phoenix-area declines in foreclosures, home supply bode well for 2012 | 12/13/2011

In many ways, 2011 has been the most difficult year Phoenix-area homebuilders ever have endured, but local builders and analysts said there are several reasons to anticipate a more robust new-home m ... more

November housing stats for Phoenix show improvement | 12/8/2011

November housing statistics in the Phoenix area were fairly unremarkable, given the fact that sales are normally down during the holiday season and there’s no compelling factor for dramatic market cha ... more

Homebuilders see rays of hope | 12/8/2011

In many ways, 2011 has been the most difficult year Phoenix-area homebuilders ever have endured, but local builders and analysts said there are several reasons to anticipate a more robust new-home mar ... more

Scottsdale infill projects to begin in 2012 | 12/8/2011

Scottsdale residents are expected to get their first glimpse next year of construction resulting from the city's controversial downtown infill-incentive district and plan. Construction on the first ... more

Mountain Shadows Resort owner will sell property to JDM Partners | 12/7/2011

The owner of the shuttered Mountain Shadows resort in Paradise Valley has agreed to sell the property to a well-known local development company co-owned by Jerry Colangelo, town officials said. Cal ... more

Scottsdale City Council rejects airpark apartment complex | 12/7/2011

A divided Scottsdale City Council Tuesday rejected a proposal to build an apartment complex in the Scottsdale Airpark despite assurances from the property owner's attorney that it wouldn't harm oper ... more

Board OKs housing project for GM proving-ground site | 12/7/2011

The first residential project on land formerly occupied by the General Motors Desert Proving Ground is on the books in Mesa. The Planning and Zoning Board has approved a preliminary plat for 796 si ... more

Arizona 2012 Forecast: Still Sick, But Recovering | 12/7/2011

If Arizona’s economy were a hospital patient, she would be out of intensive care, but still in the hospital. In other words, the economy is doing better and certainly on the road to recovery, but it i ... more

Barclays analyst sees housing rebound coming in 2012 | 12/5/2011

Barclays Capital (BCS: 11.29 -5.84%) analyst Stephen Kim predicts a housing recovery buoyed by improving jobs numbers and the fact prices for nondistressed homes will have stabilized without governmen ... more

Apartment investment firm to target Phoenix in 2012 | 12/3/2011

One of the most prolific investors in Phoenix-area apartment properties this year said it plans to spend $100 million on real-estate acquisitions in five Western states with a likely focus on the Phoe ... more

Housing is in last phase of 'bubble,' expert says | 12/2/2011

Nishu Sood, director of Wall Street's Deutsche Bank Securities, used the term "revulsion" to describe the current phase of metro Phoenix's housing market. "Revulsion," as in many people are averse ... more

Real estate dominated Valley business in the '90s | 12/1/2011

The 1990s was a watershed decade for Arizona and metro Phoenix that saw a cadre of Old Guard power brokers and movers and shakers swept out by collapse of the commercial real-estate market and the sub ... more

Infill projects make sense in current economy | 12/1/2011

For years, people would purchase the largest home that money could buy. Because land was less expensive on the outskirts of the Southeast Valley and beyond, the desire for affordable mini-mansions ... more

Phoenix new home sales begin to stabilize | 11/28/2011

New single family home sales in the Phoenix area are showing signs of stabilizing, according to a recent report by Phoenix-based RL Brown Reports. Though new home sales for October were down compar ... more

Recap of how each metro area ranks | 11/27/2011

Atlanta ranked third in housing affordability, fourth for the most university graduates and fifth for venture capital. But it's near the bottom in per capita personal income, per capita gross metrop ... more

Scottsdale Quarter development could include apartments, hotel, retail | 11/25/2011

Further development of the Scottsdale Quarter could include apartments, a hotel and additional retail on the eastern side of the property. Glimcher Realty Trust has picked the Zaremba Group LLC of ... more

APS planning new solar plant in Yuma | 11/23/2011

Arizona Public Service has unveiled plans to develop a new solar plant in Yuma that will provide 17 megawatts of power, or enough for 4,250 homes. The Yuma Sun reports the plant site is in east Yum ... more

Southeast Valley homebuilders downsizing plans | 11/23/2011

Homebuilders in Gilbert, Chandler and Mesa are turning to "infill" development to spur new residential construction on smaller parcels in more-developed areas. During the housing boom of the 1990s ... more

As economy struggles more local development land returns to agriculture | 11/22/2011

On a late November afternoon, tractors with side chutes harvest sorghum from a small roadside farm, spitting it into a truck riding along. The grain is milled and sold as feed to a nearby dairy. A ... more

Phoenix's Home-Price Puzzle: How to Rise from Ashes? | 11/21/2011

The Phoenix housing market is defying conventional economic theory. Inventories of homes for sale are low, falling 41% to 21,304 in October, compared to 35,732 at the same time a year ago for Grea ... more

Some Hopeful Signs for Jobs and Home Construction | 11/17/2011

The number of people applying for unemployment benefits fell last week to the lowest level since early April, a sign that layoffs were easing and that hiring might pick up. The New York Times ... more

The Housing Lobby Strikes Again | 11/17/2011

It took a $142 billion taxpayer bailout to convince the Obama Administration to pledge in February to wind down Fannie Mae and Freddie Mac, rein in the Federal Housing Administration and encourage the ... more

Phoenix, CityNorth at odds over ending development agreement | 11/17/2011

Phoenix's effort to revoke its $97.4 million development agreement with the developer of CityNorth has gotten off to a rocky start. Phoenix sent a letter to an attorney for the Klutznick Co. arguin ... more

Starts and Permits Show Signs of Life for Single-Family | 11/17/2011

At long last, the housing industry is showing signs of life. Permits were up 10.9% in October to an annual rate of 653,000, the best reading the industry has seen in 19 months, according to data relea ... more

US homebuilders feel less pessimistic in November | 11/16/2011

U.S. homebuilders are feeling a little less pessimistic about the struggling housing market. But their mood hasn't changed enough to signal a recovery anytime soon. The National Association of Home ... more

Westcor may give up land for high-profile Palisene project | 11/14/2011

A coveted mall site at Scottsdale Road and Loop 101 could be going back to the state. Westcor has deferred a $1 million lease payment until Dec. 30 on 112 acres of state trust land and is weighing ... more

Phoenix-area foreclosures way down in October | 11/14/2011

Home foreclosures made up 26 percent of all home-resale transactions in October, the lowest percentage since April 2009, according to an existing-home sales report issued Monday by Arizona State Unive ... more

Developer aims to restart condo project | 11/14/2011

A Dallas-based developer wants to revive a condominium project north of Scottsdale Fashion Square to build hundreds of high-end apartments. JLB Partners is requesting city approval of its plan to b ... more

U.S. Farmers Reclaim Land From Developers . | 11/14/2011

Five years into a brutal national housing downturn, raw land destined for residential development has fallen so far in value that thousands of acres across the country are being used again for agricul ... more

Ariz. high court may weigh Chandler site | 11/11/2011

The Arizona Supreme Court has been asked to get involved in the feud over who owns Elevation Chandler, the abandoned 10.5-acre construction site near Loops 101 and 202. The dispute has ramification ... more

Rate on 30-year mortgage below 4 pct. for 2nd time | 11/10/2011

The average rate on the 30-year fixed mortgage fell below 4 percent for just the second time in history. Freddie Mac said Thursday the rate on the 30-year fixed loan fell to 3.99 percent, down from ... more

Steve Ellman out as Glendale Westgate City Center manager | 11/9/2011

Steve Ellman, the developer who brought the Phoenix Coyotes hockey team to a new Glendale arena eight years ago and then built the glittering Westgate City Center around it, has lost one of his last t ... more

William Lyon Strikes an Agreement with Its Lenders | 11/8/2011

William Lyon Homes, burdened with heavy debt, dwindling cash, and negative net worth, announced it has reached agreements with its debt holders that will recapitalize the home builder and write-down s ... more

Banks in Arizona shift to short sales | 11/5/2011

After more than 175,000 foreclosures in metro Phoenix in the past several years, mortgage lenders in Arizona have done an about-face, approving a record number of short sales. Rather than taking ba ... more

Glendale Westgate City Center now owned mostly by lenders | 11/3/2011

Westgate City Center is now almost completely owned by its lenders. An auction Thursday wrested control of the last major part of the complex from developer Steve Ellman, after foreclosure proceedi ... more

SkySong apartment site, hotel expansion win OK from council | 11/3/2011

A luxury apartment complex east of SkySong, the Arizona State University Scottsdale Innovation Center, and expansion of downtown's Hotel Valley Ho were among proposals approved this week by the Scotts ... more

Queen Creek solar-plant plans: Economic benefits questioned | 11/1/2011

Queen Creek has proposals for three solar power plants within its limits, and another is being planned for just outside the community. But town officials are questioning whether the plants, which r ... more

Phoenix September home sales up 17.7% from last year | 10/28/2011

Phoenix-area homes sales in September jumped 17.7% from the year-ago period, spurred by an increase in home sales in the sub-$100,000 market, DataQuick said Friday. In September, the Phoenix area r ... more

Scottsdale approves 2nd plan for apartments near airpark | 10/26/2011

The Scottsdale City Council this week approved a second plan to build apartments in the Scottsdale Airpark but postponed consideration of a third proposal until after the Federal Aviation Administrati ... more

Apartments aplenty rising out of Tempe's condo crash | 10/25/2011

The Centerpoint Condominium towers stood abandoned for two years in downtown Tempe as the most glaring symbol of the Valley’s real estate meltdown. But just as the second tower of the renamed West ... more

Arizona underwater homeowners to get refinance help | 10/25/2011

More Arizona homeowners may soon be able to refinance to current low mortgage-interest rates, no matter how far underwater they are in their homes. The Obama administration on Monday announced long ... more

William Lyon Negotiates with Creditors Over Heavy Debt | 10/24/2011

William Lyon Homes, burdened with heavy debt, dwindling cash, and a negative net worth, is working with its lenders to restructure its debt and recapitalize, the company said in a statement responding ... more

Peoria considers industrial development deal with farm family | 10/24/2011

Peoria is working with a prominent West Valley farming family to support plans to develop an industrial park on 328 acres spread over the city and Maricopa County. For that to happen, the city woul ... more

$1.6 billion Prasada project stays on track in Surprise | 10/24/2011

Surprise has a number of goals when it comes to Prasada, a mammoth commercial and residential center that will straddle Loop 303 in the decades ahead. City officials want to see thousands of new jo ... more

Developer lays out ideas for dude ranch in Scottsdale | 10/22/2011

Taber Anderson had just stepped from his Range Rover to explain his plans for a north Scottsdale guest ranch when a roadrunner appeared, as if on cue, and scurried across the road. Anderson wants t ... more

Premium outlet mall at Wild Horse Pass expected to open March 2013 | 10/21/2011

Looking for a good deal on Adidas athletic wear or the latest fashions from Saks Fifth Avenue? The Gila River Indian Community officially announced today construction of a 370,000-square-foot premi ... more

Morrison Ranch apartments plan is back | 10/21/2011

A luxury apartment complex approved for Morrison Ranch in 2008 is back on the table. Highland Groves Luxury Apartments would offer 228 units on the northeastern corner of Elliot Road and Beebe Stre ... more

Massive West Valley development to launch | 10/21/2011

Two Phoenix-area developers, John F. Long Properties and the Alter Group, are planning a massive mixed-use commercial development in the West Valley that will span Phoenix, Avondale and Glendale. T ... more

Arizona construction jobs up from a year ago | 10/21/2011

Arizona has gained 8,200 construction jobs during the past year — a 7.6 percent increase, according to a report released Friday by Associated General Contractors of America. The report showed Arizo ... more

Canadian company pulls application for controversial Florence mine | 10/20/2011

The Canadian company that wants to develop a controversial new copper mining project in Pinal County has pulled its rezoning application, at least temporarily, with the city of Florence. Curis Reso ... more

Huge Pinal County community gets 1 more shot for approval this year | 10/20/2011

Framers of a conceptual plan to transform 275 square miles of state land into a sustainable desert community near the Superstition Mountains have one last shot at getting their vision on the books thi ... more

A rebound for retail | 10/20/2011

From Metrocenter to central Phoenix to long-established areas of Scottsdale, a mini building boom is under way as retailers and restaurants scramble to take advantage of real-estate bargains that will ... more

How to Clean Up the Housing Mess | 10/20/2011

About four years ago, as the housing bust worsened, our country faced an entirely predictable problem: A huge wave of foreclosures was headed our way. The issue of the day was how to stop it before it ... more

Discounted taxes are not what we were promised | 10/20/2011

So here is an explanation of what really transpired at the most recent Planning and Zoning meeting. Not only did the Curis proposal receive an unfavorable recommendation from the Planning and Zoning C ... more

Home building jumps 15% in September | 10/19/2011

Homes were built in September at the fastest pace in 17 months, a hopeful sign for the struggling housing market. The Commerce Department says builders began work on a seasonally adjusted 658,000 h ... more

Home builder confidence spikes in the West | 10/18/2011

Home builder confidence in October reached a four-year high in the West, according to the National Association of Home Builders/Wells Fargo Housing Market Index released today. The region led all o ... more

It's Time to Buy That House | 10/15/2011

U.S. house prices have plunged by nearly a third since 2006, and homeownership rates are falling at the fastest pace since the Great Depression. The good news? Two key measures now suggest it's an ... more

Scottsdale panel approves luxury units near SkySong | 10/14/2011

A developer who wants to build a gated, luxury apartment complex east of SkySong, the Arizona State University Innovation Center, received some unexpected resistance at Wednesday's Scottsdale Planning ... more

Group Manages to Pull Off Desert Flip in Arizona | 10/12/2011

A venture led by two real-estate investment firms has shown that it actually is possible to make money on land speculation in the Phoenix area. The group bought a 1,200-acre assemblage in San Tan V ... more

CAC excited about several expansions throughout county | 10/12/2011

The sounds of electric saws, nail guns and heavy equipment reverberating throughout Pinal County are nothing unusual given the machine shop classes and John Deere programs offered by Central Arizona C ... more

Downturn may slow predicted 'Sun Corridor' boom | 10/10/2011

With a "lost decade" hanging over the region's economy, the "Sun Corridor" from Prescott to Tucson will grow more slowly and draw at least 900,000 fewer people than originally forecast, experts say. ... more

Scottsdale Airport Commission rejects apartment proposals | 10/10/2011

The Scottsdale Airport Commission rejected three Scottsdale Airpark apartment proposals this week, fearing that nearby residents would complain about aircraft noise and push for flight restrictions. ... more

Mixed-use project coming to Arcadia | 10/8/2011

Residents of the Arcadia area in east Phoenix are welcoming changes to a planned development that many hope will bring a stronger identity to their neighborhood. The area, a collection of well-esta ... more

Lennar unveils its ''NextGen'' home design in Gilbert | 10/8/2011

Nearly a third of American adults are "doubled up," with two or more adult generations living in the same home, according to the U.S. Census Bureau. That's good news for Lennar Homes, which last mo ... more

Agents see glimmer of hope in Phoenix housing picture | 10/8/2011

Things are tough all over. That house you spent big money to buy four to five years ago is now worth just half that. Phoenix has reached a new low in home prices, with the median for the city as a ... more

Canadians Warm to Phoenix | 10/8/2011

Canadians are on a Sun Belt shopping spree. Phoenix and other warm-weather cities that have seen real-estate prices crater are newly popular among Canadians looking for second homes or investment p ... more

Scottsdale Airpark multifamily housing plans advance | 9/30/2011

Three proposals that could bring more than 1,500 apartments to the Scottsdale Airpark area have obtained the Planning Commission's endorsement. Commissioner Jay Petkunas stressed the need for housi ... more

City faces losing cash for projects | 9/30/2011

Casa Grande is doing a development impact fee study and drawing guidelines to meet requirements of a new state law pushed through the Arizona Legislature by homebuilders and developers to limit what f ... more

2 Queen Creek subdivisions set to open in Oct., Dec. | 9/30/2011

In the current housing-market slump, it is practically unthinkable for a Phoenix-area homebuilder to open three new subdivisions in three consecutive months, but that is exactly what Fulton Homes plan ... more

Consultant finds no major objections to copper project | 9/29/2011

third-party review of the Florence Copper Project concluded if it is conducted properly in all respects, it “could be implemented in a manner that is consistent with the goals of the town of Florence ... more

Phoenix No. 6 in the nation for new jobs | 9/28/2011

Phoenix is No. 6 in the nation for new job growth, according to new figures released Wednesday morning by the U.S. Bureau of Labor Statistics. The Phoenix metro area added 31,300 new jobs between A ... more

Economic Recovery Still Depends On Housing, Says Wells Fargo Economist | 9/26/2011

Mark Vitner is firmly in the camp of economists who can’t envision a turnaround in America’s economy without a sustained rebound within its housing industry. “Until housing recovers, the economy wi ... more

Development-impact fees could plummet by 80% in Glendale | 9/24/2011

Glendale officials say a state law that takes effect in January will strain its ability to build roads, parks and libraries to accommodate growth. Sen. Russell Pearce, R-Mesa, was the primary spons ... more

Court Allows Lending Practices Suit Against Big Builders to Proceed | 9/23/2011

A three-judge panel from the Ninth Circuit Court of Appeals late Wednesday allowed a class-action suit against eight large home builders over the impact of risky mortgage lending on homeowners in plan ... more

Scottsdale, Glendale assess failure's cost | 9/23/2011

Scottsdale got SkySong, a fledging office park with a giant playground canopy for $120 million. Glendale got the Phoenix Coyotes, an arena and Westgate City Center for $230 million, a whopping debt ... more

Pinal County No. 7 for youngest housing stock nationwide | 9/22/2011

Decades of urban sprawl around Phoenix has led nearby Pinal County to have one of the youngest housing stocks in the nation. On Numbers calculated the relative ages of the housing stocks in all 3,1 ... more

Cave Creek might rescue stalled condominium project | 9/21/2011

The Cave Creek Town Council is considering throwing a life preserver to a stalled condominium project south of the town's commercial core. Town Manager Usama Abujbarah said the town and VRE Carefre ... more

New Software Matches Down-Payment Assistance Programs | 9/20/2011

Down-payment assistance (DPA) is certainly harder to find these days than it was during the boom, but it’s not extinct. DPA programs earned a bad name during the housing bust as foreclosures and large ... more

Phoenix new home sales up 26 percent in August | 9/19/2011

New-home sales improved in August, according to the Phoenix Housing Market Letter produced by RL Brown Reports. There were 632 new closings in August, compared with 500 in August 2010. The numbers ... more

Federal loan guarantees set to shrink | 9/19/2011

A temporary boost to Federal Housing Administration-guaranteed loan limits passed in 2008 is set to expire Oct. 1 unless Congress acts to extend it. Homebuilders and real-estate agents in metro Pho ... more

Huge Pinal development gets cool reception | 9/18/2011

A conceptual plan to turn 275 square miles of state land into a sustainable desert community near the Superstition Mountains has not been as well received as its framers had hoped. Members of the P ... more

Tempe-based T.W. Lewis to wind down operations in 2012 | 9/15/2011

Tempe-based homebuilder T.W. Lewis says it has sold its remaining land assets to a Texas builder and will wind down the company in 2012. Tom Lewis, T.W. Lewis' founder and CEO, said Wednesday that ... more

Rebound for luxury condos in Valley | 9/14/2011

Upscale, condominium projects in coveted metro Phoenix locations were icons of the region's housing boom and then some of the most visible signs of the crash. Dozens of condo towers and loft projec ... more

Superstition Vistas Comprehensive Plan amendment under review | 9/12/2011

The Pinal County Planning and Zoning Commission will review a comprehensive plan amendment submitted by the Arizona State Land Department in June 2011 to finalize the Superstition Vistas planning area ... more

New Kids On The Block | 9/9/2011

Startup builders know they’ve arrived when the big guys in their markets begin to imitate them. When it happened to Surrey Homes, it was a sure sign that “we’re now part of the conversation in Orlando ... more

U.S. Hits Builders With Pay Probe | 9/8/2011

The Labor Department is investigating pay practices at many of the top companies in home building, hitting them with a broad demand for records that has led to complaints of regulatory overreach. R ... more

Wind farm and/or land exchange? Ruskin move on Yavapai Ranch | 9/7/2011

Prescott National Forest Supervisor Betty Mathews says the Fred Ruskin family needs to decide whether they want to drop out or continue with the largest land exchange in Arizona's history. Ruskin, ... more

LGI Sets Another Sales Record in August | 9/6/2011

LGI Homes, The Woodlands, Texas–based builder whose rent-to-own marketing strategy has been one of the few unqualified success stories during the housing downturn, outdid itself last month when it clo ... more

Fulton Homes Sells Houses Like Trousers, to Great Effect | 9/6/2011

In a lot of ways selling new homes is the same as selling men’s clothing or any other retail enterprise, says Dennis Webb, vice president of operations for Fulton Homes. “If the buyer wants it, giv ... more

Maricopa’s future: City council takes peek into transportation crystal ball | 9/6/2011

It’s a fairly safe assumption that by the time the year 2040 hits, Maricopa and its surrounding areas won’t resemble much of what it looks like now. That thought was demonstrated in a unique fashio ... more

More Energy Star homes on tap for Surprise’s Marley Park | 9/3/2011

Mattamy Homes announced plans to build 50 new single-family homes in Surprise’s Marley Park by April 2012. The homes will vary between 2,000 to 3,5000 square feet with two- and three-car garages an ... more

Recession took toll on potential Scottsdale developments | 9/2/2011

Development brochures for some of Scottsdale's most ambitious projects from a few years ago show pretty pictures of lushly landscaped shopping plazas with fountains and a mix of shops, condos and offi ... more

Some Home Builders Run Out of Lifelines | 8/31/2011

Five years into a housing meltdown, questions are arising about how long some publicly held home builders can survive without significant improvement in the market. Sales of newly built homes, whi ... more

Phoenix among leaders in job growth | 8/31/2011

Phoenix is back among the U.S. leaders in job growth, according to figures released Wednesday morning by the U.S. Bureau of Labor Statistics. Eighty-six of the nation's 100 biggest markets added pr ... more

Florence Copper Project opponents issue contrary housing study | 8/30/2011

As the copper mine showdown in Florence continues, one side has begun to wage on the economic front. While Curis Resources has touted the jobs and economic benefits of its proposed 20-year Flor ... more

Solar-power plants booming in Gila Bend | 8/28/2011

It's lunchtime in Gila Bend, but the 30 or so people lined up at Little Italy for pizza and subs aren't the typical summer visitors passing through town on their way to San Diego or the beaches of Mex ... more

Phoenix No. 7 for new home construction last year | 8/26/2011

Despite the Phoenix housing market getting hammered by the recession in recent years, it was the No. 7 metro area last year in terms of new home construction activity. The collective value of all p ... more

Farming big factor in Arizona's water supply of 'Sun Corridor' | 8/25/2011

Pima, Pinal and Maricopa counties have enough water to support nearly 4.3 million more people - if we get rid of all commercial farming, a new report says. The report, from an Arizona State Univers ... more

Home sales in West up 46% in a year | 8/23/2011

Sales of new, single-family homes fell to a five-month low in July, however, sales in the West are up 46 percent from a year ago. The Commerce Department released figures in Washington Tuesday show ... more

Excel Homes Offers Its First National Product Line | 8/22/2011

The modular home manufacturer Excel Homes has launched a new series, called American Lifestyles, that the Liverpool, Pa.–based company claims is adaptable to nearly any market in the United States. ... more

Foreclosures, mortgage delinquencies slowing in Arizona | 8/22/2011

Mortgage delinquencies and foreclosure starts both declined in Arizona during the second quarter, according to a survey released Monday by the Mortgage Bankers Association. The delinquency rate for ... more

CAC Board of Governors approves purchase of 208-acres for campus | 8/19/2011

The Central Arizona College Board of Governors approved the recommendation by the CAC administration to purchase approximately 208 acres of land in the San Tan Valley for construction of the college’s ... more

USDA Remains Flush With Mortgage-Lending Cash for Rural Areas | 8/18/2011

The one source where home buyers can still find a zero-down home loan has twice as much to lend this year compared to last year. The catch is the cash runs out with the fiscal year on Sept. 30. On ... more

Enterprise Bank & Trust buys bank assets including Scottsdale loan offices | 8/18/2011

Enterprise Bank & Trust, which has commercial banking operations in Phoenix, purchased First National Bank of Olathe in Kansas from the Federal Deposit Insurance Corp. last week. First National Ban ... more

Maracay Homes taps social media | 8/14/2011

When Maracay Homes executives decided to use themes such as Disney and Valentine's Day to increase their company's visibility, they didn't settle for someone in a Mickey Mouse costume waving at driver ... more

Phoenix and Atlanta Will Be Best New-Home Markets in U.S., Barclays Says | 8/12/2011

Phoenix, where foreclosures have surged and prices plummeted since the U.S. housing bubble burst, and Atlanta are the best potential markets for the sale of newly built homes, Barclays Capital said in ... more

Arizona Association of Realtors to purchase ARMLS | 8/8/2011

Arizona will have the largest statewide multiple listing service in the nation following a vote Monday by the directors of the Arizona Association of Realtors to purchase the Arizona Regional Multiple ... more

Gilbert planners OK permit for SanTan Village Apartments | 8/4/2011

The Gilbert Planning Commission on Wednesday approved a conditional-use permit for a SanTan Village Apartments, paving the way for a 382-unit complex proposed near SanTan Village mall. Once built, ... more

Potential buyer signs letter of intent for Elevation Chandler | 8/4/2011

A potential buyer has signed a letter of intent to purchase Elevation Chandler, the site near Loops 101 and 202 that was to be a hotel but that has become a long-vacant eyesore. Archstone Apartment ... more

Rural growth around Valley could jeopardize home loans | 8/2/2011

With the 2010 census numbers out, Queen Creek, Maricopa, and San Tan Valley are expected to have outgrown their rural status - costing future homebuyers in those three communities their eligibility fo ... more

'Green' developer makes plans for 2 Scottsdale complexes | 8/1/2011

A Phoenix-based developer of environmentally friendly projects is moving ahead with plans to develop a three-story complex with 42 units - this time apartments instead of condominiums - on a 1.8-acre ... more

Mesa Gaylord project still alive, company tells mayor | 7/29/2011

Gaylord Entertainment Co. told officials from Mesa and DMB Associates last week that it is still serious about building a resort on DMB's land in southeast Mesa. The assurances came in a two-hour m ... more

Phoenix-area homebuilders adjust to market | 7/24/2011

A deep plunge in both home foreclosures and pre-foreclosure notices in the second quarter ultimately could lead to a boost in business for Phoenix-area homebuilders, who have settled into a slow-but-s ... more

Gilbert considers large apartment complex near SanTan Village | 7/22/2011

A Southern California developer's plans for a 382-unit apartment complex near SanTan Village would give Gilbert its first new multifamily housing in several years. If approved, SanTan Village Apart ... more

Safari Drive condo sales, Camelback Executive Park | 7/22/2011

Safari Drive condo sales increase Safari Drive has reported 23 sales of its downtown condominiums through the second quarter. The midrise project is on 4.8 acres northeast of Scottsdale and Camelb ... more

Old Rawhide site in Scottsdale might become new apartments | 7/22/2011

A revised plan for the former Rawhide site in north Scottsdale would include 262 apartments southeast of Pinnacle Peak and Scottsdale roads. Developer Larry Gabriele initially planned the Villa Vol ... more

Arizona construction employment increases by 1,900 | 7/22/2011

Construction employment in Arizona increased by 1,900 workers during the past year, according to an analysis conducted by the Associated General Contractors of America. Much of that increase came i ... more

Marana, Pinal County collaborate on developing transportation corridor | 7/22/2011

"It begins now" for Marana. "Right here is where it is," says Town Manager Gilbert Davidson. For years, Marana's business and government officials have dreamed about the town's potential to become ... more

If town sticks to the plan, will the houses be built? | 7/21/2011

A group opposed to the Florence Copper Project says the town would be way better off financially to stay the course and develop the acreage for housing, as called for in the town’s current General Pla ... more

International commerce center coming to Casa Grande | 7/21/2011

The Central Arizona Regional Center (CAzRC) has recently completed the required economic evaluation to move forward with its plans for a regional retail center in Casa Grande. When completed, Phoenix ... more

Casa Grande going global with new business ventures | 7/20/2011

Casa Grande has capitalized on the early years of the 21st century, emulating the Phoenix Valley, Tucson, Flagstaff and Yuma as Arizona’s next principal region. For years, Casa Grande has been perc ... more

Home building jumps 14.6% in June | 7/19/2011

Builders broke ground on more single-family homes and apartments in June, helping the battered construction industry gain a little life after a dismal spring. The Commerce Department said Tuesday t ... more

Housing Starts and Permits Jump in June | 7/19/2011

Housing starts and permits were up in June, beating analysts' expectations, but still on track for a relatively weak year, according to the U.S. Census’ New Residential Construction report. The Cen ... more

US builders' outlook rises after 2011 low | 7/18/2011

The outlook among U.S. homebuilders became a bit rosier in June but the future prospects for home construction are anything but promising. The National Association of Home Builders says an index of ... more

Builder Confidence Rebounds | 7/18/2011

Builder confidence bounced up a bit in July after hitting the floor in June, largely on confidence that single-family sales are a little better now and are expected to be better in six months, accordi ... more

Builder Confidence Rebounds | 7/18/2011

Builder confidence bounced up a bit in July after hitting the floor in June, largely on confidence that single-family sales are a little better now and are expected to be better in six months, accordi ... more

Commercial loan modifications possible | 7/17/2011

It's entirely possible for struggling commercial-property owners to obtain a loan modification, according to Kevin Kopp of 1st Service Solutions, a commercial-foreclosure-prevention firm. The problem ... more

Arizona high court upholds eight-year housing defect limitation | 7/15/2011

Purchasers of new homes who don't file construction defect lawsuits within eight years are out of luck, at least according to the Arizona Supreme Court. In the first ruling of its kind on the issue ... more


Phoenix-based Alliance Residential Company has development plans to commence construction on approximately 5,000 residential units in the second half of 2011. Since 2001, the company has invested $2.7 ... more

Scottsdale homebuilder Taylor Morrison purchased for $955M | 7/13/2011

A consortium of investment funds today formally acquired Scottsdale home builder Taylor Morrison Taylor Morrison The deal first was announced March 31. The seller of both home-building operations ... more

Phoenix-area foreclosures are down again | 7/13/2011

There was more good news for the hard-hit Phoenix-area housing market in June, according to a report from Arizona State University issued Tuesday: The rate of foreclosures continued to drop for the fo ... more

Developer ready to channel energy into completing SouthBridge | 7/13/2011

Luck hasn't always been on Fred Unger's side. Several years ago, the developer envisioned an "urban, pedestrian-friendly village" along the south side of the Arizona Canal in downtown Scottsdale th ... more

Phoenix among 10 best places to buy rental properties | 7/12/2011

Phoenix’s housing market has created a good place to invest in rental property, according to a recent survey ranking the top 100 cities for such properties in the U.S. HomeVestors of America Inc., ... more

Phoenix cracks ‘Forbes’ top 10 potential boom cities | 7/11/2011

Phoenix is still a good bet to become a boom economy, despite its troubles in the recent recession, according to a Forbes magazine Forbes magazine Latest from The Business Journals Forbes: Da ... more

Chandler planners see new homes, subdivisions on horizon | 7/9/2011

For the first time since housing prices collapsed, zoning requests for new Chandler subdivisions are coming in to city planning offices - a sign that the worst of the residential real estate meltdown ... more

Phoenix area housing market gaining ground, new data show | 7/8/2011

Frenzied home-sales activity in June proved earlier speculation about a third dip in metro-Phoenix home prices to be untrue. The median price of an existing home in the region climbed to $118,950 l ... more

Surprise, other cities discuss new impact-fee limits | 7/8/2011

Surprise is not alone in its frustration and confusion about a new state law limiting what fees cities can assess builders. Representatives from cities across metropolitan Phoenix met last month at ... more

Downtown Phoenix parcel set for housing | 7/6/2011

A Scottsdale-based developer has bought a downtown Phoenix parcel that has stood vacant for years and hopes to build a residential-retail project designed for the growing student and employee populati ... more

Zillow Boosts Exposure for New Homes With Its Latest Search Features | 6/30/2011

On Thursday morning,, the online real estate database, introduced a new search function on its website that’s giving greater visibility to new homes that are available in markets around the ... more

Fulton Homes settles with creditors in bankruptcy plan | 6/28/2011

Fulton Homes has settled with its creditors in a long, contentious Chapter 11 bankruptcy action. U.S. Bankruptcy Court Judge George Nielsen Jr. approved the fourth amended plan put forth by Tempe-b ... more

Plans for Maricopa college campus take into account area's biggest asset | 6/24/2011

SIGNAL PEAK, Central Arizona College plans to break ground this year for its new Maricopa Campus. President Dennis Jenkins told the CAC Governing Board Tuesday the first phase of the new campus sho ... more

A zoning code that's built on common sense | 6/21/2011

The past decade of construction in Mesa is proof of what happens when a zoning code fails to meet reality. The code last received a major update in 1989, when huge parts of the city were still empt ... more

Evergreen planning 330-unit apartment complex in Tempe | 6/16/2011

Evergreen Real Estate Development has purchased a 5.2-acre site just west of downtown Tempe, and it is planning a 330-unit apartment community. Phoenix-based Evergreen, in partnership with SudGroup ... more

Home building, jobs reports push Dow higher | 6/16/2011

Better-than-expected reports on home building and jobs pushed two of the three major stock indexes higher Thursday. The pace of new home construction quickened last month and the number of people w ... more

Four Lessons Learned From The Bust | 6/16/2011

It’s said that developers have short memories. That’s probably true. But coming out of this downturn, some developers (who are actually getting projects in the ground) are changing their strategies af ... more

New Peoria hospital will employ 250 | 6/14/2011

Visionary Health LLC, which operates Gilbert Hospital, is planning to break ground next week on a hospital in Peoria. The 40-bed Peoria Regional Medical Center will employ about 250 people when it ... more

Arizona Land Sells at a 92% Discount | 6/7/2011

In an eye-opening example of how far land prices have fallen in the Arizona area since the market peak, a 10,200-acre tract of land near Maricopa recently sold for roughly eight cents on the dollar. ... more

Buckeye leases land from BLM for a park | 6/7/2011

Buckeye is leasing nearly 8,700 acres to transform the desert lands into a camping hub complete with picnic areas, campgrounds and hiking and equestrian trails. The town has signed a lease agreemen ... more

LGI Homes Expands to Phoenix | 6/2/2011

LGI Homes, the upstart start-up builder in Texas that has climbed quickly to No. 58 on the BUILDER 100 list, is expanding its unique business model to Phoenix, Ariz. Chris Kelly, a Pulte division p ... more

Speedwagon Buys Unsold Condos at Sunscape Villas for $4M | 6/1/2011

Northbrook-based Speedwagon Properties has purchased the remaining 62 units of Sunscape Villas, a 442-unit property near the Old Town district in Scottsdale, Arizona. The property was converted into c ... more

Gray Development to build 749 luxury apartments in downtown Scottsdale | 6/1/2011

Gray Development Gray Development Follow this company LLC, a prominent Valley apartment developer, has purchased a key infill site in Scottsdale just east of Scottsdale and Camelback roads. Ph ... more

Phoenix-area housing market shows signs of price stability | 6/1/2011

The Phoenix-area housing market is still stuck in the mud, but at least it's no longer sinking in quicksand. That was the reaction of two local housing analysts to the latest S&P/Case-Shiller repor ... more

Phoenix-area "shadow inventory" of homes doing well in market | 5/28/2011

Metro Phoenix has a "shadow inventory" of nearly 100,000 homes, the kind that market watchers sometimes fear could flood the region's long-suffering housing market and drive down prices. These home ... more

Coalition seeks to preserve Sonoran Desert | 5/26/2011

A coalition of environmentalists, business leaders, developers and mayors announced a proposal Wednesday to protect roughly 700,000 acres of public lands in the West Valley. The group wants to pres ... more

Outlet mall could land at Westgate | 5/24/2011

A large outlet mall could be coming to Westgate City Center, marking a huge coup for the Glendale retail and restaurant complex. Westgate’s owner, the Ellman Cos, is working out a deal with Tanger ... more

63 acres in South Phoenix sell for $3.2 million | 5/23/2011

Crown-Phoenix Artesa I, a subsidiary of Petrus Partners Petrus Partners Follow this company Ltd. in New York, paid $3.2 million for almost 63 acres near the southeast corner of Baseline Road and ... more

Metro Phoenix new-home market is on mend, experts say | 5/19/2011

Metro Phoenix's homebuilding market is on the second step of a five-phase recovery process, according to one of the nation's top housing analysts. During a Wednesday Urban Land Institute panel disc ... more

Arizona, Phoenix add jobs; unemployment drops | 5/19/2011

Arizona’s economy added 17,200 jobs in April and the state’s jobless rate is at 9.3 percent, according to the latest Arizona Workforce Employment Report. That’s down from 9.5 percent the prior mo ... more

Robson builds career providing Ariz. homes | 5/16/2011

Ed Robson began his career as an Arizona developer in the mid-1960s by enticing people to drive to Bullhead City and look at mobile-home lots for a free tank of gas and an inexpensive camera. The m ... more

Arizona banks seeing a profit | 5/15/2011

After considerable pain, downsizing and nearly $1 billion in cumulative losses, Arizona's native banks finally might be turning the corner. The 37 banks still based in the state just wrapped up the ... more

Gosar revives massive copper mine plan in Superior, Ariz | 5/13/2011

Rep. Paul Gosar introduced legislation Friday to revive a proposal for the development of North America's largest copper mine east of Superior - a project that could bring more than 1,200 jobs to the ... more

Bill Proposes Mortgage Shake-Up . | 5/12/2011

Two lawmakers, a California Republican and a Michigan Democrat, are set to unveil legislation Thursday to replace mortgage giants Fannie Mae and Freddie Mac with at least five private companies that w ... more

Builders will face energy standards in Mesa | 5/10/2011

Builders will face energy standards in MesaWith sustainability a key ingredient in its overall strategy for Mesa, the City Council is looking for ways to protect the environment. Last week the council ... more

Phoenix job openings up 43% in past year | 5/4/2011

After returning to prerecession levels, nationwide job openings continued to increase in April with 33.9 percent year-over-year growth and 6.7 percent month-over-month, according to a report Wednesd ... more

BUILDER 100's Top Private Companies Spent Last Year Stuck in Neutral | 5/3/2011

Ask anyone at Shea Homes how tough it was to make a buck in 2010. The Walnut, Calif.–based company was once again one of the 10 largest for-profit, privately owned builders in closings that year, a ... more

SRP fired up over natural-gas plan | 5/3/2011

A new $500 million natural-gas-burning power plant in Coolidge fired up for the first time this week, providing "peaking" electricity to Salt River Project when needed. The Coolidge Generating Stat ... more

ASU report shows Phoenix commercial real estate sector is improving | 5/3/2011

Commercial real estate, though highly discounted, is experiencing a healthy rebound, according to a study prepared by Arizona State University real estate Professor Karl Guntermann. “It appears tha ... more

Homebuilders hail law easing impact fees | 5/3/2011

Cities and towns across Arizona will have a harder time requiring developers to pay for everything from infrastructure to services under legislation signed by Gov. Jan Brewer. The legislation, Sena ... more

Mesa Riverview owner plans to raze part of shopping center | 5/1/2011

Mesa Riverview opened its doors five years ago with up to $80 million in taxpayer incentives and plans to revive west Mesa with new shops and a bustling entertainment district. But now that some st ... more

Ownership battle for Elevation Chandler returns to court | 4/30/2011

The battle over who owns Elevation Chandler continues May 25 at the Arizona Court of Appeals in Phoenix. Lawyers for the million-dollar bidder, investor Tom Peltier of BT Capital, will present oral ... more

Texas firm wants to renovate closed Scottsdale movie theater | 4/29/2011

A small Texas theater chain is turning into a screen saver with its plan to renovate a theater at the Sonora Village shopping center, which has been closed for more than a year. Movie Grill Concept ... more

Arizona job growth expected to increase in 2011, economists say | 4/29/2011

A recent flurry of employment fairs and hiring announcements has offered evidence of job growth in Arizona. Now, the economists are giving a thumbs up as well. For the first time in three years, th ... more

Fulton Homes mediation ordered | 4/28/2011

Almost 28 months after Fulton Homes Corp. filed for Chapter 11 reorganization, a bankruptcy judge has ordered the Tempe-based company and its creditors to undergo mediation through the 9th U.S. Circui ... more

Construction Lenders Begin Catching the Fever | 4/28/2011

Multifamily developers are optimistic about bringing new product online, and rightfully so. The lack of new supply produced over the past three years, combined with a rising level of demand, presents ... more

City land swap near SkySong would allow for apartments | 4/27/2011

Scottsdale will consider a small-parcel land swap east of SkySong that would allow Mark-Taylor Inc. to develop apartments on a city-owned site. The Scottsdale City Council voted unanimously Tuesday ... more

Brewer signs bill limiting development impact fees | 4/26/2011

Arizona cities are going to lose some of their powers to assess fees on new developments. Legislation signed Tuesday by Gov. Jan Brewer will require cities to come up with very specific plans of im ... more

D.R. Horton Retains Top Spot on BUILDER 100 | 4/26/2011

D.R. Horton managed to hold onto its position as the largest home builder in America in 2010, despite a hard challenge from PulteGroup, which absorbed Centex in 2009, becoming the largest builder in A ... more

Fulton Homes still has no debt plan | 4/25/2011

Two years and three months after filing for bankruptcy protection, Tempe-based Fulton Homes Corp. still does not have a court-approved Chapter 11 reorganization plan. According to U.S. Bankruptcy C ... more

Maricopa County Housing market showing some life | 4/24/2011

New-home sales in Maricopa County were down significantly from a year earlier during the first quarter, according to The Arizona Republic's latest quarterly housing snapshot, based on numbers from rea ... more

Jobs added in 2010 | 4/24/2011

Finally, it appears that a majority of Arizona's largest businesses are growing again. Reversing the trend in last year's report, it appears that more big companies added to their staffs than reduc ... more

Investors find housing niche | 4/22/2011

A Scottsdale real-estate investment company has carved out a small niche in the troubled housing market by putting investors together with homebuyers who cannot get traditional financing. For the p ... more

Meritage brings first net-zero energy home to production | 4/22/2011

Related:Environment, Residential Real Estate, Energy Sponsored Links Bid for the Yields You Want. You just might get them on CDs and bonds. Try Zions Direct Auctions. Bu ... more

Fitch Predicts a Saw-Toothed Recovery for Home Building | 4/21/2011

For every bit of good news about the economy and the state of home building Fitch Ratings analyst Robert P. Curran delivered during a Monday construction update, there seemed to be an equal and opposi ... more

Investors Help Absorb Existing-Home Inventory | 4/20/2011

After earning a bad name for themselves for their role in inflating home prices during the boom, investors are now doing their part in the post-bust cleanup, according to existing-home sales numbers r ... more

Metro Phoenix housing market showing signs of upswing | 4/20/2011

Metro Phoenix's housing market took a turn for the better last month, and if current trends continue, home prices could start to climb again before the end of the year. Market experts say now is st ... more

Large housing development proposed for Gateway area | 4/20/2011

After years of inactivity, the potential developers of a large tract of land near Phoenix-Mesa Gateway Airport have submitted a proposal that could possibly place residential development south of Will ... more

Future is Bright for Active Adult, Forecasters Say | 4/19/2011

Optimism pervaded at last week’s “Economic and Market Forecast for the 50+ Housing Industry” webinar, despite reports from builders that conditions in the active adult market continue to be far from “ ... more

Pulte Offering Solar for Active-Adult Communities in Arizona | 4/19/2011

Del Webb, an arm of production builder Pulte Group specializing in master-planned communities for the 55+ market, announced April 12 it will offer solar and other green features standard in two of its ... more

Canadians flocking to buy homes in Southeast Valley | 4/19/2011

Virtually every week during the past two years, a Valley home was sold for at least $1 million to a Canadian buyer. The majority of the homes are in Scottsdale, but Mesa, Gilbert and Queen Creek ar ... more

Pinal County No. 2 for growth in past decade | 4/18/2011

The core counties of America’s metropolitan areas grew 10.3 percent during the past decade, and Pinal County was No. 2 for growth. The 10.3 percent growth rate easily outpaced the growth rate for t ... more

Investment Property Associates buys 18 acres in Chandler for new apartments | 4/18/2011

Investment Property Associates paid $3.5 million for 18 acres of land located near the southwest corner of Arizona Avenue and Queen Creek Road in Chandler. IPA, with offices in Phoenix and Michigan ... more

Mesquite Solar power plant gets approval on contract | 4/14/2011

Sempra Generation received final approval Thursday from the California Public Utilities Commission for its Mesquite Solar power plant slated for western Maricopa County. The approval is the final ... more

Loop 303 link to I-17 opens in May | 4/14/2011

Next month, the region's newest freeway, a 14-mile stretch in the northwest Valley, will open to fanfare and traffic, the Arizona Department of Transportation announced Wednesday. The four-lane, di ... more

Realtors staying busy in Coolidge market | 4/13/2011

Realtors selling homes in the Coolidge market have stayed relatively busy this year, with 85 homes sold since Jan. 1. “That averages out to be about a home sold every working day,” said Ken Bolan o ... more

South Mountain Freeway vote by Gila tribe could come soon | 4/13/2011

The Gila River Tribal Council may begin final deliberations on whether the planned South Mountain Freeway should be built on reservation land instead of through Ahwatukee as soon as the first week of ... more

Woodside Homes opening Lindsay Park in Mesa | 4/12/2011

Woodside Homes is celebrating the grand opening of its Lindsay Park community in Mesa April 16. Three decorated models will be available for viewing. The houses include energy-efficient features li ... more

Phoenix named one of 11 comeback cities | 4/11/2011 has named Phoenix as one of the nation’s 11 comeback cities for 2011. Kiplinger looked at cities whose unemployment rates have recently exceeded the national average but are showing s ... more

6 housing markets that are hitting bottom | 4/7/2011

The U.S. housing market looks like a scorched landscape. Nationwide, home prices are down almost 32% from their 2006 peak. Many economists expect them to fall at least 5% more this year. Some predi ... more

March home sales in Phoenix area the most in 66 months | 4/7/2011

Good news on the residential real estate front. The 9,933 Phoenix-area sales transactions that closed in March marks the most sales in 66 months, according to the Arizona Regional Multiple Listing Ser ... more

Beazer Homes buying up Phoenix foreclosures to then rent | 4/5/2011

Beazer Homes (NYSE:BZH) is buying up bank-owned or auctioned properties in Phoenix and converting them into rentals with the Beazer name. “We think this makes sense. It’s a way to put our corporate ... more

Meritage Homes expands into North Carolina | 4/5/2011

Related:Residential Real Estate, Energy Sponsored Links FM Global Commercial Insurance The Leading Commercial Property Insurance Company For Risk Management Objectives Refi ... more

Developer seeks city's OK to build offices near airpark | 4/4/2011

Scottsdale could green light an estimated $100 million project to erect the tallest office buildings in the airpark when the City Council meets April 26. It's a measure the developer says would bai ... more

Arizona near top for growth in new population study | 4/4/2011

All 13 sections of the United States gained population between 2000 and 2010, and Arizona is near the top of the standings, according to a new Business Journals breakdown of U.S. Census Bureau figures ... more

Supply of Chandler homes for sale quickly decreasing | 4/2/2011

Buyers have begun to snap up homes in Chandler, shown by a decreasing supply of homes on the market. There were 1,591 homes listed for sale on March 24 compared with 1,725 on Dec. 24, according to Mik ... more

Southwest Valley shows signs of home values rebound | 4/2/2011

Foreclosures continue to bring down home values in most Southwest Valley cities, although some areas are starting to see an upswing. Goodyear and Tolleson saw median home values increase in 2010 an ... more

Drastic home-value declines slowing in the West Valley | 4/2/2011

Home values in most Northwest Valley cities continued to decline in 2010, but at a slower pace than in past years and with higher-end homes feeling more heat of foreclosures and short sales. A few ... more

Taylor Morrison swept up in $955M deal | 3/31/2011

Scottsdale homebuilder Taylor Morrison is being swept up in a sale valued at nearly $1 billion to investment funds led by TPG Capital, Oaktree Capital Management and JH INvestments. Taylor Wimpey p ... more

The Billion Dollar Taylor Wimpey Deal—Behind the Headlines | 3/31/2011

For the three diversified, global financial interests who teamed together officially last night to ante up 1.04 times book value for Taylor Wimpey PLC’s North American operations, the clock sets at z ... more

Melcor Makes Second Fractured Condo Buy in AZ | 3/30/2011

Melcor Developments Ltd. has made its second fractured condo buy in Arizona, paying $8.4 million for 82 units that are part of the 447-unit Edge at Grayhawk. The buyer, a publicly-traded Canadian prop ... more

Homebuilders pin hopes on retiring Baby Boomers | 3/29/2011

The current housing-bust survival strategy for many Phoenix-area homebuilders leans heavily on a generation with the word "boom" in its name. With relatively few working-age families willing or abl ... more

Cities, builders in standoff over impact fees | 3/28/2011

A contentious impact fee bill making its way through the Legislature has generated a high-stakes standoff between cities and home builders, said House Speaker Kirk Adams, a Mesa Republican. He and ... more

State's taxable sales in February reached milestone | 3/25/2011

Arizona retail sales rose 10.4 percent in January compared with the same month a year earlier, driven by strong sales of cars, trucks, building materials and clothing, the Arizona Department of Revenu ... more

The 2011 Builder Market Health Index | 3/22/2011

The 22 markets profiled here provide a fascinating snapshot of an industry attempting to pick itself up off the ground. Some witnessed big permit increases last year, even though their economic me ... more

Phoenix area gains 7,200 jobs over past year | 3/21/2011

The Phoenix area added 7,200 jobs during the past year, good for No. 26 in the nation among 372 metro areas. A total of 266 metropolitan areas gained employment between January 2010 and January 201 ... more

Gilbert officials worried about impact-fees proposal | 3/19/2011

A bill currently making its way through the state Legislature could give Gilbert officials a reason to push the panic button and leave them scrambling to replace millions of dollars needed for vital i ... more

Peoria officials consider annexing 1,600 acres of land | 3/18/2011

Efforts to add nearly 1,600 acres into Peoria are moving along by way of a pre-annexation agreement being worked out between the city and Arizona State Land Department, which controls the land. Cou ... more

Impact fee battle - a Mesa case study | 3/17/2011

Right now, Lehi Crossing is more than 290 acres of bare dirt being pierced by heavy machines in preparation for utilities, streets and, eventually, 914 homes. In a few months, the first moving van ... more

Lehman Brothers Said to Seek Partner on Real Estate Development Projects | 3/15/2011

Lehman Brothers Holdings Inc. (LEHMQ) sent requests to at least six homebuilders and developers seeking partners for 75 real estate projects in 19 states, according to executives at three companies wh ... more

More growth is coming, SE Valley official says | 3/15/2011

Stunned by a historic housing collapse and recession, Southeast Valley cities' growth fell short of expectations in the latest census. But one of the region's top cheerleaders thinks the 2020 censu ... more

Gilbert formally asks state to investigate Zinke land deal | 3/15/2011

Gilbert Town Attorney Susan Goodwin has sent state Attorney General Tom Horne a formal request to investigate the town's 2009 Zinke land acquisition for future parks and rights-of-way. The letter p ... more

New Home Sales Numbers Saw Jump in February | 3/15/2011

While new home sales numbers were 9% lower in February than they were the year before, John Burns, CEO of John Burns Real Estate Consulting, is emphasizing that the month’s reading is not as bad as it ... more

Builder Confidence Rises With Hope for Spring | 3/15/2011

“Cautiously optimistic” seems to be the phrase of the moment in the home building industry. And based on the latest NAHB/Wells Fargo Housing Market Index numbers, it captures well the mood of builders ... more

Luxury Scottsdale condos likely to replace empty apartments | 3/14/2011

An abandoned apartment complex near Scottsdale Fashion Square likely will be demolished in July to make way for a luxury multi-level condominium complex with street-level retail. Last summer, the S ... more

Phoenix No. 7 among U.S. metros in job-growth | 3/14/2011

While new federal data indicates that Arizona lost jobs over the past three years, metro Phoenix began adding jobs last year and is among the best job gainers in the country, according to a Brookings ... more

Towers tip of the iceberg for Tempe development surge? | 3/12/2011

A massive complex of 20-story towers is being proposed along Tempe Town Lake in what is one of the most ambitious new projects contemplated in the East Valley since the recession crippled new developm ... more

5 developers float plans for Bell Road, 94th Street property | 3/11/2011

The Bell Road corridor near 94th Street would take on a new look under each of the five development proposals Scottsdale is considering for 80 acres of city-owned land. Three proposals are for apar ... more

Gilbert nearly doubles in size in past decade, census shows | 3/11/2011

Gilbert nearly doubled in size over the past decade, becoming Arizona's seventh-largest municipality, according to the U.S. Census Bureau. The Arizona figures from the 2010 census, released Thursd ... more

Analyst expects Valley home prices to rise in March | 3/8/2011

The latest forecast calls for metro Phoenix home prices to climb in March. The median sales price of a house in the region is expected to reach $114,000 this month, according to the Pending Price I ... more

Homebuilder ads highlight pitfalls of foreclosures | 3/5/2011

Homebuilders trying to fight off customers' attraction to cheap foreclosures are doing more to show buyers that the good deals can come with pitfalls. The companies are increasingly trying to woo b ... more

Old Fifth Ave. commercial center being renovated | 3/4/2011

A Canadian investor has purchased and is revamping a dilapidated commercial center on downtown Scottsdale's Fifth Avenue west of Goldwater Boulevard. The three-building, 6,000-square-foot complex a ... more

San Tan Valley incorporation down, but not out | 3/4/2011

House Bill 2275 may have been voted down, but San Tan Valley’s quest for incorporation is far from out, since Senate Bill 1333 received overwhelming support from the state senate government reform com ... more

Homebuilder Enters Into $210M Credit Facility | 3/2/2011

Standard Pacific Corp. has entered into a new $210 million unsecured revolving bank credit facility. The new three-year facility matures in February 2014 and has an accordion feature under which the a ... more

Phoenix's Kierland Commons has a new owner | 3/1/2011

The developers of Kierland Commons have sold their remaining 51 percent ownership of the northeast Phoenix shopping district. Santa Monica, Calif.-based Macerich on Monday announced that it purchas ... more

Warren Buffett sees housing recovery to start within a year | 2/28/2011

Warren Buffett anticipates a recovery in the housing market to begin within one year and the investment guru said in his biennial letter to investors that mortgages written by his subsidiaries perform ... more

Hunt Hwy is one step closer to a new commercial center | 2/28/2011

On Feb. 17, 2011, the Pinal County Planning and Zoning Commission unanimously approved a proposal by Sky Hi Holdings L.L.C. and Borgata Ventures L.L.C. to change the zoning for a 96.9-acre parcel near ... more

Gilbert Council asks state to investigate $50M land deal | 2/25/2011

The Gilbert Town Council on Thursday called on the state Attorney General's office to formally investigate the $50.2 million land deal in which the town acquired future parkland, rights-of-way and dai ... more

Things you need to know before buying a new-build house | 2/25/2011

New homes generally offer the latest design features, less maintenance, warranties and often better energy efficiency than resale houses. But as with any investment, buyers need to do their homewor ... more

Robson, American Solar partner on homes | 2/24/2011

Robson Communities Inc. and American Solar Electric have partnered on two adult communities to integrate solar into new homes. The deal will allow solar at homes in Pebble Creek in Goodyear and Qua ... more

Scottsdale gives Blue Sky developer more time for accord | 2/24/2011

The Scottsdale City Council on Tuesday gave Gray Development Group two more weeks to come to an agreement with surrounding property owners before it considers the developer's scaled-down proposal for ... more

40,000-square-foot healthcare center coming in 2012 | 2/23/2011

The Maricopa City Council last night unanimously approved a development agreement with Banner Health for the construction of a 40,000-square-foot healthcare center. “From the time we were born as a ... more

Airport facility may lure growing company to Phoenix-Mesa Gateway | 2/23/2011

A Phoenix-based engineering company that was recruited by Texas for its inventiveness, rapid expansion and high-paying jobs would relocate to Phoenix-Mesa Gateway Airport under a plan expected to win ... more

Scottsdale condo prices increase in January | 2/22/2011

Prices were up slightly for Scottsdale condominiums in January, but existing-home prices fell 8 percent from a year ago, according to the latest monthly report from Arizona State University Realty Stu ... more

Gestamp Renewables to build steel facility in Surprise | 2/22/2011

Gestamp Renewables will set up shop in Surprise in a new building designed to build steel for large solar projects around the state and the Southwest. The project, announced Tuesday afternoon, will ... more

Healthcare center likely built by Sept. 2012 | 2/22/2011

The Maricopa City Council will meet Tuesday at 7 p.m. to vote on a development agreement aimed at opening a healthcare center in Maricopa by Sept. 30, 2012. “We have been working for five years to ... more

Healthcare center likely built by Sept. 2012 | 2/22/2011

The Maricopa City Council will meet Tuesday at 7 p.m. to vote on a development agreement aimed at opening a healthcare center in Maricopa by Sept. 30, 2012. “We have been working for five years to ... more

Centerpoint project sold; summer debut planned | 2/22/2011

The delay-plagued Centerpoint residential complex has been sold, with the buyer pledging to immediately resume construction on the two luxury high-rise buildings, convert them to apartments and comple ... more

Mesa, Gilbert medical cluster emerges | 2/22/2011

Not long ago, people were wondering whether the southeast Valley's health-care industry would ever catch up with its booming population. But in the blink of an eye, historically speaking, an array ... more

Phoenix residents fear plans for North Valley auto mall, medical campus | 2/22/2011

In January, Alice Diskin got a letter from Westcor notifying her that it was revisiting a planned auto mall with a proposal to add a medical campus in the North Valley. She was startled as memories fl ... more

Gilbert land deal: Appraisals did exist before controversial buy | 2/22/2011

Despite Gilbert officials' claims the town had no appraisal before it paid $42.8 million in 2009 for future parkland, staffers had several formal estimates in hand that suggested a significant portion ... more

Phoenix retail market turning the corner | 2/21/2011

The Phoenix retail market began to turn the corner during the fourth quarter of 2010 as vacancies dropped to 12 percent from 12.3 percent. That may not sound like much, but it is the first sign of ... more

Ellman sees another development era | 2/21/2011

Westgate City Center owner Steve Ellman sees another real estate and development build up in greater Phoenix’s future. Ellman recently spoke before the Glendale Chamber of Commerce’s State of the C ... more

CAC campus will have ‘immediate’ economic impact | 2/21/2011

Public sector development is about to spill over into the private sector in a big way as Central Arizona College gears up to break ground later this year on a Maricopa campus that could one day serve ... more

Arizona's economy on the rise, expert says | 2/18/2011

It may not seem like much of a recovery for Arizonans hobbled by job losses or falling home values, but the state's economy actually is improving at a solid clip. So says Nathaniel Karp, chief econ ... more

Tempe's Centerpoint towers sold for $30M, will be renamed West Sixth | 2/18/2011

The saga of the unfinished Centerpoint in downtown Tempe was resolved Friday afternoon when Cleveland-based Zaremba Group purchased the property. It was the same deal that was supposed to close last O ... more

New $5 billion Intel facility planned for Chandler | 2/18/2011

Intel Corporation today announced plans to invest more than $5 billion to build a new chip manufacturing facility at its site in Chandler, Ariz. The announcement was made by Intel President and CE ... more

Pancho Villa helped create successful Cobblestone Farms | 2/17/2011

Cobblestone Farms got some positive notice in the national press recently when Bristol Palin bought a house there in December. But the community had cache before the “Dancing with the Stars” celebrity ... more

Third Gila Bend solar-power plant planned | 2/17/2011

A third solar-power plant has been announced for Gila Bend, this one to be built by Tempe-based First Solar Inc. and provide electricity to Arizona Public Service Co. APS already is planning to buy ... more

Economy in Arizona on the rise, expert says | 2/17/2011

It may not seem like much of a recovery for Arizonans hobbled by job losses or falling home values, but the state's economy actually is improving at a solid clip. So says Nathaniel Karp, chief econ ... more

Phoenix Developer Sues California Energy Company | 2/16/2011

Phoenix area developer Dominion Real Estate Investments, LLC and one of its affiliated entities filed a lawsuit against Space Energy Terrestrial, Inc., an alternative energy company operating out of C ... more

TRW Automotive tries again to sell facility | 2/15/2011

Airbag maker TRW Automotive has revived a 3-year-old effort to sell its manufacturing facilities on Germann Road in east Mesa, consisting of six large buildings on 375 acres zoned for heavy-industrial ... more

Meritage Homes Uses Cutaway Models to Burnish Its Green Image | 2/15/2011

Last Friday, Meritage Homes held a media event for its Northern Terrace at Centennial Hills project in Las Vegas, where about a half-dozen local reporters saw a demonstration of how Meritage’s builder ... more

Peoria, Buckeye adult communities rank high in sales | 2/14/2011

Two West Valley communities - Trilogy at Vistancia in northern Peoria and Sun City Festival in Buckeye - led in sales and closings among active adult communities in 2010. Shea Homes reported 137 sa ... more

Desert Mountain Golf Club bought by members for $73.5 mil | 2/13/2011

Members of the exclusive Desert Mountain Golf Club in north Scottsdale have completed a deal with owner Crescent Real Estate Holdings to purchase the club's six golf courses, all related facilities an ... more

Government’s Overwhelming Role in Mortgages | 2/12/2011

92% — The share of new mortgage loans backed by the U.S. government One of the most crucial issues in safeguarding the U.S. against another financial disaster is figuring out what to do with Fannie ... more

New hotel planned next to Banner in Gilbert | 2/11/2011

In anticipation of a fall opening for the Banner MD Anderson Cancer Center in Gilbert, a Mesa-based developer plans to build an adjacent Marriott hotel to accommodate patients and families. A four- ... more

Desert Ridge developer in default on 32-acre parcel in Phoenix | 2/10/2011

Gray Development Group is in default on land it bought in the Desert Ridge area in 2004. Vanessa Hickman, deputy commissioner of the Arizona State Land Department, said a default notice was sent in ... more

Debate over municipal impact fees rekindled in the Legislature | 2/9/2011

For years, Arizona homebuilders and cities and towns have done battle over impact fees, which municipalities charged the development and construction industries to offset costs of “necessary public se ... more

Plan for apartment complex clears hurdle | 2/5/2011

Gray Development Group's scaled-down proposal for its Blue Sky luxury apartment complex east of Scottsdale Fashion Square cleared the first of three hurdles Thursday with a unanimous favorable recomme ... more

Meritage Posts $0.9M 4th QTR Loss, Orders Up 15% | 2/3/2011

Meritage Homes Corp., Scottsdale, Ariz. (NYSE:MTH) on Wednesday after market close reported a net loss of $0.9 million, or $0.03 per diluted share, in the fourth quarter of 2010, compared to net incom ... more

Shea Homes offers a glimpse of the future in Litchfield Park | 2/2/2011

I think I glimpsed the future during a tour of Shea Homes in Litchfield Park on Thursday. That future offers green homes, or better yet, platinum homes, as in Energy Star platinum. The houses ha ... more

Phoenix infill housing project expected to receive council's approval | 2/2/2011

Final approval is expected Wednesday for one of the last infill projects in northeast Phoenix. Little opposition is expected when Michael Lieb takes his project at Tatum Boulevard and Greenway Road ... more

62 major markets add jobs: Phoenix ranks 4th in US | 2/2/2011

Nearly two-thirds of the nation’s major labor markets added private-sector jobs in 2010, and Phoenix was among the biggest gainers. Sixty-two of the top 100 markets posted higher private-sector e ... more

Arizona Biltmore, JW Marriott Desert Ridge resorts sold | 2/2/2011

Three Valley resort properties have recently changed hands. In the wake of the sales, the Arizona Biltmore Resort and Spa is among a handful of properties that have been put into Chapter 11 bankrup ... more

Starwood Continues Betting Big on Florida. | 2/1/2011

When you think of states hard-hit by the residential downturn, Florida comes to mind. Yet Starwood Land Ventures—backed by Barry Sternlicht’s Starwood Capital Group—continues betting big bucks on t ... more

The Whys and Wherefores of Becoming More Energy Efficient | 2/1/2011

My two recent trips to check out Meritage Homes’ Lake Todd Estates and M/I Homes’ Brooks Landing communities in the Orlando market have gotten me thinking a lot about green building. And by green buil ... more

Will Private Home Builders Cut it in 2011? We Think the Answer is Yes | 2/1/2011

Something funny's happening on the way to public home builder domination of the low-pulse, anemic housing recovery. Without question, public companies have made big strides, not only in their own o ... more

Mesa vies for major employers at Gateway | 1/28/2011

Mesa is in the running for a handful of high-impact business deals that could bring thousands of jobs to the Gateway area, Mayor Scott Smith said. "We have seen a marked increase in inquiries and a ... more

Arizona economy showing 'signs of life' | 1/27/2011

Arizona State University economist Dennis Hoffman sees "signs of life" in the state's economic recovery. But he also sees the potential for continued problems if consumers do not regain more confidenc ... more

Mixed views at Urban Land Institute economic forum | 1/27/2011

Some 700 people packed into a ballroom Thursday at the Sheraton Phoenix Downtown to hear real estate experts opine about the future of the economy. The occasion was the Urban Land Institute Arizona’ ... more

New Paulson fund seeks dollars in the desert | 1/27/2011

One of the firm’s latest projects has taken it into the Sonoran Desert in the American Southwest, in search of empty residential-development lots. In November, the firm finished raising capital fo ... more

Home Builder Opportunities Will Mean Steering Clear of Distress' | 1/26/2011

This year and next, Phoenix's new-home narrative will be about random submarket successes amid a broader-swath of pain and drudgery. Perhaps the biggest unknown from a timing standpoint has to do with ... more

Phoenix housing market could rise in 2011 | 1/26/2011

Arizona State University Professor Karl Guntermann predicts that the Phoenix-area housing market will improve in 2011 even though the most recent numbers in the ASU-Repeat Sales Index register more ... more

Arizona No. 9 for December job growth | 1/25/2011

Thirty-six states suffered short-term job losses between November and December, but Arizona was not among them, according to a report issued Tuesday morning by the U.S. Bureau of Labor Statistics. ... more

Canadian company may buy Arizona American Water | 1/25/2011

About 106,000 water customers in Arizona essentially will make monthly payments to the city of Edmonton in Alberta, Canada, if a $470 million deal announced Monday is approved by regulators. Edmont ... more

Mattamy Homes Plans for Growth | 1/24/2011

In the three-plus years since Steven Parker became president of Canada-based Mattamy Homes’ U.S. Group, he has been trying to grow its U.S. business and grab market share. Things didn’t happen quit ... more

China firm coming to Valley? | 1/24/2011

Phoenix Mayor Phil Gordon said he is working with a Chinese company that is considering the Phoenix area for a project that could bring as many as 10,000 jobs. He said he couldn't disclose the name ... more

Commercial-real-estate market registers positive changes | 1/23/2011

The Phoenix-area commercial-real-estate market passed a significant milestone in the fourth quarter, but you won't find evidence of it by looking at statistics. That's because the positive changes ... more

Existing Home Sales End 2010 With a Bang | 1/20/2011

Sales of existing homes in December rose by 12.3% over November to a seasonally adjusted annualized rate of 5.28 million. That figure, though, still lagged December 2009 by 2.9%, according to estimate ... more

City of Maricopa Economic development plans move forward | 1/20/2011

City officials, members of MEDA’s board of directors and a representative of TIP Strategies met with the public last night at Global Water headquarters to ask for guidance about the future economic de ... more

South Mountain Freeway: Tribe reviewing alternative map | 1/20/2011

The Maricopa Association of Governments and the Gila River Indian Community have released a map of an alternative route for the planned South Mountain Freeway, which would connect Chandler to Laveen. ... more

Gateway airport generates $685 million | 1/19/2011

Phoenix-Mesa Gateway Airport poured $685 million in fiscal 2010 into the economy of Maricopa and western Pinal counties and supporting nearly 4,200 jobs, according to the findings of a study by Arizon ... more

Fewer homes for sale in Valley | 1/19/2011

The number of homes for sale in metro Phoenix is declining, a sign that the housing market could start to recover this year. However, foreclosures and short sales continue to dominate the region's ... more

Blue Sky plan downsized to appease nearby owners | 1/19/2011

Gray Development Group next week will submit the latest proposal for its Blue Sky luxury apartment complex north of Scottsdale Fashion Center with a lower number of units, maximum building height and ... more

Clear from new study on 55+ households: Redo R&D | 1/19/2011

According to a piece in RISMedia, NAHB chief economist David "Crowe noted that about 54,000 housing starts are projected in 55+ communities this year, a 30% rise from estimated 2010 levels, but still ... more

Architecture billings are jumping; return to RE invest can't be far away | 1/19/2011

Why does publication aimed to serve the business intelligence needs of people in residential construction (i.e. this one) concern itself with the American Institute of Architects: Architecture Billing ... more

Motto Comes Back to Haunt | 1/19/2011

Shane Albers, chief executive of an Arizona real-estate fund that raised close to $1 billion from small investors during the boom years, frequently cited in letters to investors his conservative inves ... more

Wild West Stand-Off in Pinal | 1/19/2011

We last visited Pinal county's San Tan Valley in the summer of 2010. Residents there both supported and opposed a vote for incorporation. They never got the chance to vote because the Florence city co ... more

Starwood, Paulson bid on Taylor Morrison | 1/19/2011

Hedge fund billionaire John Paulson's Rain Tree Investment Corp, Barry Sternlicht's Starwood Capital Group and a private U.S. homebuilder have submitted bids for Taylor Wimpey's North American operati ... more

Biggest Builders to Gain Market Share as Demand Rises | 1/19/2011

The biggest U.S. homebuilders are poised to benefit from a fledgling rebound in demand for new houses this year, with competitors having gone out of business during the recession and sales likely to c ... more

Homebuilders leverage tax benefit into positive 2011 outlook | 1/18/2011

Analysts at Fitch Ratings expect the homebuilding sector to remain stable in 2011, as overall construction activity is expected to improve. In December, homebuilders reportedly did not see consistent ... more

Work to begin on Belmont Village assisted living project Tuesday | 1/17/2011

Belmont Village LP of Houston will break ground Tuesday on an assisted living facility at 13870 N. Frank Lloyd Wright Blvd. in Scottsdale. The 101,000-square-foot project sits on 4 acres and is des ... more

Meritage Homes signs PVT Solar | 1/17/2011

Meritage Homes Corp. has signed a national agreement with PVT Solar Inc. to supply the home builder with solar systems. Scottsdale-based Meritage (NYSE:MTH) had been using Berkeley, Calif.-based PV ... more

Solar firms buy 45 acres in Surprise | 1/14/2011

Two solar companies — Rioglass Solar Inc. of Spain and Gestamp Solar Steel US Inc. — have purchased land in Surprise to build new manufacturing facilities. The announcement was made by CB Richard Elli ... more

Construction And Development Financing Will Remain Tough To Secure | 1/13/2011

Bank of America, the largest bank in the United States, is currently looking at fewer than 10 deals nationwide where it is being asked to provide financing for residential development or construction. ... more

Gilbert paid millions too much for land, appraisal says | 1/8/2011

An independent appraisal has confirmed what land experts told The Arizona Republic months ago: Gilbert overpaid by millions for undeveloped farmland it bought two years ago for future parks. The Fe ... more

Housing slump, recession bring Horizon West land prices back down to earth | 1/7/2011

About 500 acres once headed toward foreclosure in southwest Orange County's ballyhooed Horizon West megadevelopment sold last week for $29 million -- less than half its price five years ago. In on ... more

The Current Buzz on Taylor Morrison Homes | 1/7/2011

U.K.-based Taylor Wimpey and its plans for its North American Taylor Morrison unit were all the buzz rolling into the holidays before the year ended. What's gone on, why the recent mainstream media ... more

Solis developer plans revision to Scottsdale condo project | 1/6/2011

The developer of the Solis Scottsdale hotel and condominiums downtown hopes to close escrow on a land swap this month with Salt River Project that would allow the project to get under way. Mark Mad ... more

Phoenix village planners approve development with 159 homes | 1/6/2011

The Paradise Valley Village Planning Committee on Monday approved development of the vacant lot at Tatum Boulevard and Greenway Road with 159 single-family, two-story homes by Michael Lieb, who specia ... more

Jasper Contractors hiring 300 in Phoenix | 1/5/2011

Baton Rouge-based Jasper Contractors Inc. is hiring 300 Phoenix workers as it expands its construction business to the Valley. Jasper will hold a pair of job fairs. The first will be held Jan. 13 a ... more

Assessing the Housing Sector | 1/5/2011

A few economists are contending that our housing market is now in a “double dip,” based in part on last week’s report of housing price indexes for September and October that were lower than they were ... more

Revised Scottsdale Waterfront tower hasn't removed acrimony | 1/4/2011

Scottsdale Waterfront LLC will have a fight on its hands when the city Planning Commission and council consider its request to modify development standards for a project seeking a 140-foot tall buildi ... more

Downtown Phoenix condos to be converted into apartments | 1/4/2011

Citing weak demand for upscale condominiums, the owner of high-rise condo property 44 Monroe in downtown Phoenix has decided to convert the project to apartments. Chicago-based ST Residential bough ... more

Builders Wonder If The Double Dip In Prices Will Include New Homes | 1/4/2011

The fear that home prices will continue to fall over the next several months appears to have gripped economists who insist that a “double dip” in home values is either inevitable or already in motion, ... more

Foreclosures mess is easing | 1/4/2011

Metro Phoenix's foreclosure activity likely peaked in 2010. The 2010 tally for pre-foreclosures, or notice of trustee sales, in the region is 79,637. That's an 18 percent drop from 2009, when a rec ... more

Stalled Sage condos preparing to sell homes | 1/4/2011

A downtown Scottsdale condominium complex in limbo for more than a year is gearing up to begin sales of 50 homes. Sage is preparing to sell 32 condos, 16 townhouses and two penthouse units, said Br ... more

Goldwater Institute seeks to overturn impact-fee ruling | 1/4/2011

The Goldwater Institute is asking the state Supreme Court to overturn a November Court of Appeals ruling that validated Mesa's practice of assessing new-home buyers a fee that is used to enhance the c ... more

Arizona No. 5 for relocations in 2010 | 1/3/2011

Arizona was the No. 5 state in net relocation gains made in 2010, according to the Allied Van Lines’ 43rd Annual Magnet States Report released Monday. Arizona netted 370 moves between January and N ... more

Gilbert awaits appraisals of controversial land purchases | 1/3/2011

With an administrative audit and external review complete, Gilbert officials are waiting on an appraisal of two dairy properties purchased in 2009 to see how much, if at all, the town overpaid for des ... more

Scottsdale councilman wants to tighten infill-waiver plan | 1/1/2011

Scottsdale City Councilman Bob Littlefield wants developers to work harder to demonstrate a community benefit when requesting waivers under the city's downtown infill-incentive district, which has all ... more

What the new year has in store for Pinal County | 12/31/2010

The start of a new year brings with it a host of new opportunities Today Publications spoke with Pinal County Communications Manager Heather Murphy about what Pinal County has to look forward to in th ... more

Phoenix added 4 percent or 3,100 construction jobs | 12/30/2010

Construction employment in the Tucson metro area fell 6 percent, or by 900 jobs, in the yearlong period ending Nov. 30, while Phoenix added 4 percent or 3,100 jobs, according to the Associated General ... more

Phoenix lifts CamelSquare's zoning restrictions | 12/30/2010

The Phoenix City Council has voted to strip zoning restrictions from the northwest corner of 44th Street and Camelback Road. It means a developer could build taller buildings on the CamelSquare sit ... more

Housing Seen Rising to 3-Year High With Boost for Jobs | 12/29/2010

Federal Reserve Chairman Ben S. Bernanke may be about to get help in his attempt to boost the economy, from an industry at rock-bottom: housing. Job growth, even with unemployment at 9.4 percent or ... more

Home expert is optimistic about 2011 | 12/28/2010

It has been another tough year for homebuilding in metro Phoenix. Based on November's numbers, only about 7,000 new homes will be built across the region in 2010, according to the "Phoenix Housing Mar ... more

Scottsdale development possibly delayed by new requests | 12/28/2010

It's nearly back to square one in Scottsdale's zoning approval process for two requests seeking greater building heights in downtown. Each of the development proposals are being revamped in order t ... more

Behind the Population Shift | 12/28/2010

Last week, the Census released population figures that will reshape the House of Representatives, moving political power south and west. The four states that added the most people were California, Fl ... more

The FDIC Sells Four Loan Portfolios Totaling $1.22 Bil | 12/27/2010

The Federal Deposit Insurance Corp. closed on the sale of a series of loan portfolios. In the first deal, the FDIC sold a 40% equity interest in a newly- formed limited liability company created t ... more

Is light rail right for South Phoenix? | 12/27/2010

Valley rail planners are asking a million-dollar question: Would south Phoenix residents ride a light-rail line enough to justify building one? Valley Metro, the agency that built and runs the 20-m ... more

Banks Outsell Builders in 2010 | 12/27/2010

In the largest 100 housing markets across the nation, new-home transactions continue to lag sales of distressed properties by a substantial margin. On an annualized basis, new homes only captured 11 p ... more

Housing market perks up as economy strengthens | 12/22/2010

The housing market is showing surprising signs of improvement in recent months, as the broader economy strengthens slightly heading into 2011. Sales of previously owned homes climbed 5.6 percent i ... more

Phoenix Shows Progress from Deep in its Residential Real Estate Hole | 12/21/2010

For big public builders, Phoenix ranks as a market they had to be in--even late into 2007, builders were buying into the arena because it's inevitably one of the nation's growth marketplaces for for-s ... more

Another boom coming for Arizona | 12/20/2010

Real estate expert and economic forecaster Elliott D. Pollack said on Friday that the worst phase of the downturn is over for the greater Phoenix area, including Pinal County, but that recovery will b ... more

Commercial real-estate was flat in '10 | 12/20/2010

After tracking the value of commercial real estate for a year, Arizona State University professor of finance and real estate Karl Guntermann said the numbers have barely budged. Guntermann and othe ... more

Prescott, Phoenix among best cities for retirement | 12/16/2010

A new study from, a Phoenix Business Journal sister publication, finds that Arizona has two of the top three retirement destinations in the country, though they’re probably not the citie ... more

State Land Department avoids layoffs for now | 12/16/2010

The State Land Department won't have to lay off more than 100 employees after all, at least for the next few months. The Arizona Court of Appeals on Wednesday granted the state's request to continu ... more

Commercial prices to rise in '11 | 12/15/2010

The commercial real estate market in Phoenix finally seems to have leveled off, according to the W.P. Carey School of Business at Arizona State University. Part of a report showing a continued drop ... more

Proposed Heritage Marketplace project may be doomed | 12/14/2010

Long billed as an important catalyst for downtown Gilbert's revitalization efforts, the proposed Heritage Marketplace project sputtered during the recession and may now be on its last legs. Gilbert ... more

First Solar selling Yuma plant to NRG | 12/14/2010

First Solar Inc. is selling its largest planned photovoltaic utility power plant, set to begin service in 2014, to NRG Energy Inc. Tempe-based First Solar (Nasdaq:FSLR) and Princeton, N.J.-based NRG ... more

Who's the Largest Builder in America? | 12/14/2010

When Pulte merged with Centex to create PulteGroup in 2009, the company said it had created the largest home building company in the country. And it was in 2008 numbers, by both closings and revenu ... more

LGI Homes on fast track with lot acquisitions, expansion to Phoenix | 12/13/2010

Eric Lipar has LGI Homes on a fast track for growth because the CEO wants to take the company public within the next five years. LGI Homes recently acquired 313 home lots in the Houston area, has a ... more

Pinal County seeks federal funds for several projects | 12/12/2010

Pinal County is seeking federal help to improve air quality, widen Hunt Highway and revive a stalled copper-mining project that could create an estimated 1,400 jobs. Lobbyists working on behalf of ... more

Builders Keep On Keeping On | 12/10/2010

It's been a pretty quiet week in terms of home builder news and, therefore, a good week to catch up with a few builder friends before the holidays move into full swing. There's no doubt that thin ... more

APS to buy solar from new projects | 12/10/2010

Two more Arizona solar-panel arrays were announced Thursday, joining a growing list of at least 15 similar projects being developed to serve the state's major utilities. Dozens of other projects ha ... more

Phoenix area high-end office space renting for less | 12/10/2010

With more than one-quarter of the Phoenix area's office space sitting empty, owners of high-end office buildings have been beckoning to tenants inside less-desirable properties to "move on up" at litt ... more

Phoenix area foreclosures hit 32-month low | 12/10/2010

Foreclosures across metro Phoenix plummeted to a 32-month low in November, but the decline probably is only temporary. Big banks, including one of Arizona's largest lenders, put foreclosure proceed ... more

Phoenix light-rail expansion plans prove divisive | 12/9/2010

A Phoenix man is hoping to derail Metro light rail's plans to lay track through his neighborhood as part of an 11-mile extension to the city's west side. John Maurin, who has lived in the St. Matth ... more

$1.6 million awarded in Scottsdale land use suit | 12/9/2010

battle over responsibility for a failed commercial development in north Scottsdale involving allegations of fraud, bad faith and breach of contract was resolved last week when a jury ordered defendant ... more

Gilbert taps 'think tank' for growth, development plans | 12/7/2010

While grappling with financial troubles and a long-standing reputation as a bedroom community, Gilbert can use several unique traits to encourage "smarter growth" and economic development, residents s ... more

Arizona ranks 2nd in hiring opportunities | 12/7/2010

Arizona and the Phoenix area will offer some of the best hiring opportunities in the country in the next quarter, according to the latest Manpower Employment Outlook Survey. The nationwide survey o ... more

Manpower: Positive signs for Phoenix job market | 12/7/2010

The Phoenix job market is expected to improve somewhat during the first quarter of 2011. Human resources firm Manpower said today it expects Phoenix to show improvement on the hiring front next y ... more

Meritage moves up green home scale, but more needs to be done | 12/7/2010

Finding a newly built “green” home used to be a chore. Now every home builder’s got a sign up. A new study from Calvert Investing, which has a specialization in green and sustainable portfolios, fo ... more

Tempe Marketplace project refinanced | 12/6/2010

Vestar Development Co. has partnered with a San Francisco-based real-estate investment firm to refinance its $286 million Tempe Marketplace project and acquire additional retail properties that are no ... more

I-10 widening project begins in Casa Grande area | 12/6/2010

Starting Monday night, Interstate 10 will narrow to one lane in both directions between Junction Interstate 8 and State Route 87, east of Casa Grande. The road work begins at 7 p.m. and lasts until ... more

52 major markets posted job gains - Phoenix Ranks #2 | 12/6/2010

More than half of the nation’s 100 major markets -- Phoenix among them -- are rebounding economically, according to new figures from the U.S. Bureau of Labor Statistics. Fifty-two markets added pri ... more

Arizona's California Effect | 12/6/2010

It’s been a bumpy couple of years for Phoenix commercial real estate in general, but thanks in part to what some people are calling the California Effect, the Valley’s industrial market’s year-end net ... more

Arizona cotton growers seeing strong yields | 12/5/2010

Arizona cotton growers have just finished their harvests and now are getting their land ready for planting again next spring. The Grand Canyon state is an ideal place for cotton to grow, as it thri ... more

Arizona on the brink of bouncing back | 12/2/2010

Arizona’s economy is on the cusp of a slow recovery after three years of decline, an Arizona State University economist said Wednesday. Economist Lee McPheters told more than 1,000 attendees at the ... more

Summit at Copper Square to be sold | 12/1/2010

Numerous high-end luxury condos that have sat vacant for the past two years finally are seeing some life with new owners and lower sales prices. Now comes word on the street that the first downtown Ph ... more

After Three Years on the Brink, Retail is Set to Recover in 2011 | 12/1/2010

If you need a sense of how the retail real estate market has changed over the past 12 months, all you have to do is take a close look at a deal that Faris Lee Investments, an Irvine, Calif.-based reta ... more

A Familiar Recovery Pattern With a Twist. | 12/1/2010

Conventional wisdom in the real estate industry says that in recoveries, apartments and hotels come back first, followed by retail, industrial and finally office. The thinking is as follows: Apartment ... more

Structure of the Home Building Industry | 12/1/2010

Data on the residential construction industry is available from a variety of disparate sources. Many of these sources have released new information recently. This article pulls together key data on th ... more

Homebuilder Taylor Morrison for sale | 11/30/2010

Housebuilder Taylor Wimpey has put its U.S. homebuilding subsidiary Taylor Morrison on the auction block and hired JPMorgan Chase to advise on the sale, people familiar with the matter said. The co ... more

Valley called on 'road to full recovery' | 11/30/2010

The Brookings Institution on Tuesday said that the Phoenix area is one of two-dozen metropolitan areas in the world that is likely on the "road to full recovery" because of improvements in personal in ... more

Rialto Capital Announces First Closing of Real Estate Investment Fund | 11/29/2010

Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's largest homebuilders, today announced that its Rialto Capital subsidiary has completed the first closing of a real estate investment fund ... more

Standard Pacific Moves to Shore Up Cash Position | 11/23/2010

Standard Pacific announced a series of three financial moves Tuesday that it says will position the company to aggressively buy discounted land during the market's slowdown. One of the three moves ... more

Arizona tops October construction gains | 11/23/2010

Arizona and Texas added the most construction jobs between September and October while Florida and Minnesota landed on the losing end. That’s according to the Associated General Contractors of Amer ... more

Pinal panel rejects major project near Casa Grande | 11/22/2010

The Pinal County Planning and Zoning Commission Thursday recommended that the Board of Supervisors deny a request by Traviano Partners LLC for what some commissioners described as a 912-acre city to b ... more

Phoenix 30th in shadow inventory of homes | 11/22/2010

The Phoenix-area housing market’s “shadow” inventory of distressed homes is 13.6 months, according to research firm CoreLogic. And despite many gloomy reports about this market, the Phoenix metro r ... more

Crowd protests new-home plans for Gilbert neighborhood | 11/19/2010

An unusually large, passionate crowd filled the Town Council chambers Thursday as about 70 residents protested a developer's plans for new homes near their south Gilbert neighborhood. The high turn ... more

Land broker sees Valley population doubling by 2045 | 11/18/2010

Greg Vogel sees Valley growth over the next 35 years leaping to roughly 8 million people from 4 million. Metro Phoenix will double down if his forecast plays out. It's rather startling when you ... more

Scottsdale council approves rezoning for luxury eco-resort | 11/18/2010

An upscale eco-resort planned in the Dynamite Foothills area of north Scottsdale made headway this week when the City Council approved a General Plan amendment and rezoning for the project. The Res ... more

Planned resort's developer to ask Mesa for extension | 11/18/2010

The developer of the $800 million Gaylord resort will ask Mesa to extend its deadline for starting construction next year, Mayor Scott Smith said. Gaylord Entertainment has indicated it isn’t able ... more

Taylor Wimpey Debt Pact May Free North American Assets for Sale | 11/18/2010

Taylor Wimpey, parent company of Taylor Morrison in the United States, has struck an agreement to refinance its debts, clearing the way for a possible sale of its North American assets, including thos ... more

Construction costs decline in Phoenix | 11/17/2010

Construction costs in Phoenix continue to decline, even as slight inflationary pressures have increased construction costs in markets including Denver, Los Angeles, New York, San Francisco and Washing ... more

Bidwill 'skyscraper' land reverts to lender | 11/17/2010

Three years ago the Bidwill family, who owns the Arizona Cardinals, paid $55 million for farmland just south of University of Phoenix Stadium and unveiled plans for a 40-story office tower, hotel, org ... more

Woodside Homes Jumps on Land Opportunities | 11/11/2010

The recovery of Utah-based Woodside Homes, which emerged from bankruptcy last year, has taken forward steps in four Western markets where, in recent months, Woodside has completed land acquisition dea ... more

Gray Development takes step to takeover of CityNorth project | 11/9/2010

It's far from a done deal, but it is possible, maybe even probable, that Gray Development Group will take over CityNorth's undeveloped property and the controversial $97.4 million development agreemen ... more

Big Phoenix Land Purchase Suggests More Deals May Come | 11/9/2010

One of the largest land purchases in the Phoenix market in recent years is also one of the few that, so far at least during this area’s housing recession, have involved foreign purchasers. Last wee ... more

44th-Camelback debate reignites | 11/9/2010

The contentious struggle over redevelopment of the northwest corner of 44th Street and Camelback Road has reemerged after two years in a dormant mode. Though the new proposal for office buildings call ... more

The NAHB Studies Characteristics of Single-Family Homes | 11/4/2010

The long, deep recession of the past several years has taken a harsh toll on the nation's home building industry at every level, even influencing the types of houses that are built and the features co ... more

Deal falls through for Tempe's Centerpoint Tower | 11/4/2010

The deal to sell the massive Centerpoint, a vacant two-tower project in downtown Tempe, has fallen through and there is little hope anything will be resolved soon. Mark Winkleman, chief operating o ... more

Festival Ranch sold for $30M | 11/2/2010

BM3 Holdings LLC paid $30 million for the 7,042-acre Festival Ranch in the far West Valley, marking the Phoenix area’s largest land deal since 2008. Scottsdale brokerage Land Advisors Organization ... more

Luxury-condo project in Scottsdale sold to New Jersey firm | 11/2/2010

A stalled luxury-condo project funded by investors in the now-defunct Mortgages Ltd. has been sold to a New Jersey-based real-estate firm for $19.5 million, a broker involved in the deal said Monday. ... more

Elliott Homes, American Solar Electric partner on Laveen project | 10/30/2010

Elliott Homes is including solar power as a standard feature on homes at two of its communities in Laveen through a partnership with American Solar Electric Inc. The companies held an opening ceremon ... more

Magnificent Seven | 10/29/2010

Only seven large homebuilders (1000+ closings) have sold more homes so far in 2010 than they did a year earlier. Our data feature this week, courtesy of Housing IntelligencePro, shows their rank in t ... more

Acquisition Likely to Bolster Avatar's Position in Active Adult Market | 10/29/2010

The recent $62 million acquisition of Phoenix-based builder Joseph Carl Homes (JCH) by Coral Gables, Fla.-based Avatar Holdings brings together a new company that emerged from the housing recession’s ... more

M.D.C. Hopes August Was the Bottom | 10/29/2010

Management at M.D.C Holdings likes to think that August was it, the absolute lowest point for the housing market. "If it's the low point of the cycle, then over the next few years, there will be re ... more

House Prices have corrected to what year? | 10/28/2010

Housing consultant John Burns presented this slide as part of the UCLA Anderson Forecast this week: John Burns used median prices for this slide. It shows that the "biggest bubble markets" are back ... more

Distressing Gap Sept 2010 | 10/27/2010

By request, here is an update - this graph shows existing home sales (left axis) and new home sales (right axis) through September. This graph starts in 1994, but the relationship has been fairly stea ... more

Scottsdale council postpones consideration of Blue Sky project | 10/27/2010

Gray Development Group on Tuesday narrowly avoided seeing its proposed luxury-apartment complex near Scottsdale Fashion Square postponed indefinitely. For a second time, Gray asked the Scottsdale C ... more

Spectrum Plans $21M Senior Housing Project | 10/27/2010

AZ-Spectrum Retirement Communities LLC will break ground next month on its second senior housing project in Arizona. The 140-unit rental project, which has a price tag of roughly $20.5 million, will o ... more

Meritage turns around loss | 10/27/2010

Meritage Homes posted gains during the third quarter ending Sept. 30, according to its earnings report released Wednesday. Despite a 16 percent drop in the number of closings compared to the third ... more

Energize Phoenix revs up $25M in grants | 10/26/2010

Multi-family housing owners along a 10-mile stretch of the light rail corridor will be the first in line for $25 million in grants under the Energize Phoenix program, with homeowners and businesses to ... more

Avatar acquires Joseph Carl Homes | 10/26/2010

Joseph Carl Homes, one of the few recent home builder startups in Phoenix, has been acquired by Florida-based Avatar Holdings Inc. The $62 million acquisition includes CantaMia, an adult community in ... more

Avatar Buys Joseph Carl, CantaMia and Florida Lots | 10/25/2010

Avatar Holdings, Coral Gables (NASDAQ:AVTR) late Monday said it acquired a portfolio of real estate assets in Arizona and Florida, including Joseph Carl Homes, for approximately $62 million in cash, s ... more

$110M judgment gives Gray ability to go after proposed CityNorth land | 10/22/2010

Phoenix-based Gray Development Group, which builds upscale apartments, has obtained a $110 million judgment in Maricopa Superior Court against the Thomas J. Klutznick Co. Gray won a $110 million award ... more

Avatar Hires New CEO | 10/21/2010

Avatar Holdings has hired a new president and chief executive officer to replace long-time CEO Gerald D. Kelfer, who is retiring. Jon M. Donnell, 51, a veteran real estate executive who has worked ... more

Arizona is 5th most desirable state | 10/19/2010

Arizona is gaining in popularity, according to Harris Interactive. Worries about the heat, housing debacle and immigration may be overblown as U.S. residents picked the Grand Canyon State as the fi ... more

ULI Panel Offers Inside Look at FDIC’s Distressed-Asset Deals | 10/18/2010

As the November elections approach, the federal government is receiving plenty of criticism for everything from the deficit to the housing crisis. But judging from the panelists at last week’s Urba ... more

Arizona home sales propped up by investors | 10/17/2010

Investors are dominating metropolitan Phoenix's home-buying market again. The region's growing supply of inexpensive foreclosure homes is drawing thousands of investors, who can pay cash and close ... more

Homebuilders remain active in Gilbert | 10/16/2010

In a time when most communities' officials would give their eye teeth to get even one new home construction project started, Gilbert is seeing several starting to roll, including a new Shea Homes deve ... more

ULI Fellows Identify Forces Shaping The 'New Normal' For Real Estate | 10/14/2010

No one knows when exactly local housing markets will recover, banks will emerge from paralysis, or just how deeply the recession will permeate consumer sentiment in the years to come. But there are ... more

Coolidge looks to annex Mesa-owned land | 10/12/2010

More than 6 square miles of Mesa's Pinal County land would become part of Coolidge under a proposed annexation. The proposal is no big surprise to Mesa, said Natalie Lewis, an assistant to the city ... more

In the Valley, heirs embroiled in Disney feud | 10/8/2010

Even the lives of American royalty are not immune from being upended in Probate Court. Three cases in Maricopa County and California courts attest to the fact. The court battles revolve around t ... more

Shea Homes mulls solar options in wake of incentive cuts | 10/7/2010

Shea Homes, quick to join the solar revolution as a selling point for its products, is looking at options to continue those efforts in the wake of incentive cuts. Salt River Project announced earli ... more

Sub-Zero Wolf to Invest $65M in Manufacturing Facility | 10/7/2010

Sub-Zero Wolf LLC will invest $65 million to relocate and expand its Valley manufacturing operations. The Madison, WI-based company, which produces high-end kitchen appliances, bought a 440,168-squ ... more

Arrested Tucson development Saguaro Springs to rise again | 10/7/2010

There may soon be signs of life at Saguaro Springs, a planned 2,400-home subdivision near Rattlesnake Pass just west of the Tucson Mountains. In 2006, the square-mile project was hailed as an up-a ... more

Multifamily Developers Juggling Market Forces to Acquire Land | 10/7/2010

The unpredictability of rent fundamental improvements and NIMBYism continue to impact underwriting for multifamily land acquisition even as market conditions become favorable to apartment development, ... more

Orleans Plans Bankruptcy Exit | 10/7/2010

Orleans Homebuilders plans to be out of bankruptcy reorganization before year-end 2010, the company reported Wednesday. A bankruptcy court judge has signed off on Orleans' disclosure plan, sending ... more

Ryland's Future Growth Ability Is Enticing | 10/4/2010

We all know the story on the residential construction sector. It has been one of the toughest industries in recent economic times. A lack of new home demand, which is brought on by the high levels of ... more

Commercial Real Estate Transitions to Sustainable Growth | 10/4/2010

Commercial real estate performance generally lags economic growth by about four to six quarters. As our firm, ING Clarion Partners, suggested earlier this year, 2010 appears to be a transition year, m ... more

Developers, retailers focusing on infill areas | 10/3/2010

The next retail-building push won't feature new centers sprouting up on the urban fringes. Retailers, developers and lenders, no longer willing to gamble on future population growth, are focusing on i ... more

10 Best and Worst Markets for Real Estate Investors | 10/1/2010

Tulsa, Okla., Albany, N.Y. and San Diego, Calif. have shot onto the list of the 10 best markets for conservative residential real-estate investors, according to an updated report by Local Market Monit ... more

Connell Real Estate buying Ten Wine Lofts for $19.5M | 10/1/2010

Ten Wine Lofts, an unfinished luxury condo development in Scottsdale, will have a new owner. Connell Real Estate & Development of Berkeley Heights, N.J., has agreed to pay $19.5 million — about 50 ... more

Lennar Buys More Distressed Loans and Land | 10/1/2010

As the business of building homes stays stuck in neutral, Lennar Corp. continues to invest in its other business: mining distressed land and loans for profit. The Miami-based public builder announc ... more

Newland Teams Up With Japanese Builder/Developer | 10/1/2010

Newland Real Estate Group has formed a partnership with the largest builder/developer in Japan to buy land and develop communities in the United States. In announcing the joint venture between Newl ... more

Decoding the countless housing reports | 9/29/2010

Every week it seems the Phoenix Business Journal receives a new housing report. We are sent reports from RealtyTrac, Zillow, S&P/Case Shiller, Zip Realty, Coldwell Banker, Arizona State University and ... more

Phoenix among 35 labor markets on the rebound | 9/29/2010

Thirty-five of the nation’s 100 biggest metropolitan areas -- including Phoenix -- are on the rebound, according to a report issued Wednesday morning by the U.S. Bureau of Labor Statistics. The 35 ... more

How Phoenix home values fare today vs. pre-boom prices | 9/29/2010

It’s no secret Phoenix home values have tanked since their peak in 2006, but how do they hold up compared with 2003, when the run-up began? FNC, a software company for the mortgage industry, answer ... more

APS Continues to Bring More Solar to Arizona | 9/29/2010

Arizona Public Service Company's drive to develop more solar energy took another step forward today with the announcement of an 18-megawatt solar photovoltaic plant to be located 70 miles southwest of ... more

Hedge fund buys TOUSA's Ariz. properties for $42.3 mil | 9/28/2010

Hedge-fund billionaire John Paulson's RERF Acquisitions Corp. has paid $42.3 million for TOUSA's land and model homes in Arizona, Colorado and Nevada. TOUSA, parent of Engle Homes, filed for bankruptc ... more

50-year-old real-estate investment trusts capture attention | 9/26/2010

The real-estate investment trust is enjoying newfound popularity despite - or perhaps because of - its close ties to the foundering commercial real-estate market. Real-estate investment trusts, or ... more

Phoenix's struggling housing market helped by Canadian buyers | 9/24/2010

The collapse in housing prices and a strong Canadian dollar are luring north-of-the-border buyers to Arizona and other states where the weather is warm and the housing cheap. Canadians surpassed Ca ... more

Pinal board OKs 1 of 3 requests for fee waiver extension | 9/23/2010

The Pinal County Board of Supervisors has decided to approve a 10-year extension of the D.R. Horton and Chi Construction Copper Basin development agreement in San Tan Valley, which includes a waiver o ... more

Former Scottsdale Riverwalk takes a step | 9/23/2010

Scottsdale’s Planning Commission is recommending the city council sign off on a downtown project proposed by Gray Development for a vacant site just north of Scottsdale and Camelback roads. The for ... more

Sub-Zero brings jobs to Goodyear | 9/22/2010

Sub-Zero Inc. is bringing more than 100 jobs to the Valley as the company opens a Phoenix manufacturing plant in Goodyear and shifts work from Wisconsin to an existing Phoenix facility. The company ... more

Glendale sues feds over $500M casino | 9/21/2010

The city of Glendale is suing the Obama administration over a planned $500 million American Indian casino west of Phoenix. Glendale filed the federal lawsuit in U.S. District Court in Phoenix Tuesd ... more

Housing starts rose more than forecast in August | 9/21/2010

Housing starts in the U.S. increased more than forecast in August, a signal the industry is stabilizing. Builders broke ground on 598,000 homes at an annual rate, up 10.5 percent and the most since ... more

Housing Starts, Permits Rise in August | 9/21/2010

Builders may be skeptical about the health of the housing market, but new construction numbers released Tuesday by the U.S. Census Bureau suggest the market may at last be on the mend—just in unexpect ... more

Lennar Beats Wall Street's Expectations | 9/21/2010

News of Lennar's profitable third quarter Monday hit home building like a cool autumn breeze after a hot, long summer: refreshing and welcome. "Our third quarter marks the end of what has been, by ... more

New subdivisions starting to sprout | 9/18/2010

Phoenix-area residents are about to encounter something they haven't seen since the housing boom: grand-opening signs for new communities. The first of those is at Adora Trails, a 1,900-lot, master ... more

Fulton Homes negotiates out of $250K due Queen Creek | 9/17/2010

Cash-strapped Fulton Homes will not pay the entire $500,000 balance of its $3 million pledge to Queen Creek in exchange for the town not annexing Fulton's planned subdivision just outside town limits. ... more

Arizona expected to see job growth | 9/17/2010

Very soon, Arizona is projected to record something the state has been sorely missing for 31 months: job growth. The number of jobs in the state, compared with the number a year earlier, is set to ... more

Taylor Morrison Opens Another Big Community | 9/17/2010

On Saturday, Taylor Morrison is scheduled to open its largest community yet. The Scottsdale, Ariz.-based builder will start selling at Adora Trails, an amenity-rich 586-acre master-planned community a ... more

Land auction finally set | 9/16/2010

Arizona parks officials and local governments in the Phoenix and Flagstaff areas are moving to spend up to $52 million of land conservation money that legislators envisioned being used instead to help ... more

Cubs, Waveyard could share site at Mesa golf course | 9/16/2010

A scaled-back Waveyard water park could be built on the present site of Riverview Golf Course next to a new Chicago Cubs spring-training stadium, the Mesa City Council learned Thursday morning. The ... more

Mekong developers hope to create new 'Chinatown' in Mesa | 9/16/2010

After setting high standards for aesthetics and variety, the developers of the Asian-themed Mekong Plaza want to lure investors to build similar projects in the area in the hope of transforming the Do ... more

Sand Capital on fast track to acquire $1 billion in REO, distressed assets | 9/15/2010

A Scottsdale, Ariz.-based investment company has acquired more than $100 million in distressed debt and REO properties. Sand Capital, a division of Sandor Development Co., said its goal is to acqui ... more

Uncertainties cloud Pinal County's vision for Superstition Vistas | 9/15/2010

Like an ever-elusive desert horizon, Arizona's vision for Superstition Vistas is a moving target. The 275-square-mile chunk of state land in northern Pinal County is still being framed as the possi ... more

Ariz. law bars fee on home resales | 9/14/2010

New homebuyers in Arizona will be happy to know they won't be assessed a fee when they resell their homes. Buyers in several other states are seeing "resale fees" written into their purchase contracts ... more

Fight Looms Over Developer Transfer Fees | 9/14/2010

Builders and developers across the country are rallying against a new proposal issued by the Federal Housing Finance Agency (FHFA) that could jeopardize scores of sales at master planned communities n ... more

Time for Banks to Sell Nonperforming Loans? | 9/14/2010

For the past couple of years, investors in nonperforming loan investors have besieged bankers with inquiries. Frequent responses from bankers have ranged from “we have no problems” to “we’re handling ... more

American Solar, Elliott Homes partner in Yuma | 9/14/2010

American Solar Electric and Elliott Homes are partnering on solar systems for new homes in several Yuma subdivisions. The systems will be standard features on homes in Sunset Terrace, Araby Crossin ... more

Developer ready to show plans for Tatum/Greenway parcel | 9/13/2010

The owner of vacant land at Tatum Boulevard and Greenway Road has begun moving toward developing the 16-acre parcel, more than a year after purchasing the land in a foreclosure sale. Letters from ... more

Arizona Cardinals stadium development plan has detractors | 9/12/2010

A second neighborhood meeting last week brought out more naysayers to a proposal to build high-rise offices, hotels and apartments on surface parking around the University of Phoenix Stadium in Glenda ... more

Pulte's Del Webb Subsidiary Leads List of Top 10 Active Adult Builders | 9/9/2010

With nearly 5,000 sales to buyers aged 55 and older, Pulte’s Del Webb subsidiary remains the largest active adult home builder in the nation, according to a special analysis of 2009 BUILDER 100 survey ... more

Glimcher Buys Out Venture for $120M | 9/9/2010

Glimcher Realty Trust has agreed to buy out its joint-venture partners in the Scottsdale Quarter project for about $120 million. The split with the partners, Wolff Co. and Vanguard City Home, was not ... more

Valley lands solar inverter manufacturer Power-One | 9/9/2010

Power-One Inc., a solar and wind inverter manufacturer, is the latest renewable energy company to land in Phoenix. The company was set to announce its move to the Valley at a press conference Thurs ... more

Experts blast $42.7 million price Gilbert paid for future parkland | 9/9/2010

In a time of plunging land values and municipal-budget woes, Gilbert last year overpaid by millions of dollars for future parkland, local real-estate experts say. The $42.7 million purchase, appro ... more

Government meddling distorts the housing market | 9/8/2010

Uh-oh, they're from the government and they're here to help the housing market recover. "They" are President Obama and Housing and Urban Development Secretary Shaun Donovan. They have a new progra ... more

Arizona, cities gets $45.4 million in HUD funds for foreclosures | 9/8/2010

The state of Arizona and several of its cities will get $45.4 million in grants from a U.S. Department of Housing and Urban Development program to help combat the foreclosure crisis. The money was ... more

New Eloy foam plant promises 300 jobs | 9/8/2010

A new plastics plant to make foam tableware will provide 100 jobs with the possibility of major expansion. The city of Eloy and Republic Plastics announced Tuesday afternoon that the McQueeney, Tex ... more

Capital Commercial to begin work on $750M Continuum in Chandler | 9/8/2010

Capital Commercial Investments Inc. is hoping to attract corporate headquarters, data centers and businesses in growth sectors such as bioscience and renewable energy to Continuum, a $750 million, 152 ... more

New Centerpoint condo owner to offer units as rentals | 9/7/2010

Once envisioned as high-dollar homes for upper-class urbanites, Tempe's Centerpoint Condominiums will now be geared toward students and young professionals. The project's new owner of the 375-unit ... more

American Solar, Calex team on new solar subdivision | 9/7/2010

American Solar Electric and Calex Homes Inc. are partnering on a new solar power subdivision in Chandler. Calex’s homes in Artesian Ranch will have the option of including a 3- or 5-kilowatt photov ... more

Homebuilders Revive Stalled U.S. Projects as Banks Unload Lots | 9/7/2010

Construction crews are returning to the Cascades of Groveland, a gated 55-and-older community west of Orlando, Florida, almost three years after its bankrupt developer left owners of the existing 238 ... more

Zoning-district plans would help pave way for raceway's development | 9/6/2010

Avondale is drafting a proposed sports-and-entertainment zoning district that would allow Phoenix International Raceway to expand near the racetrack. PIR, which hosts NASCAR races in Avondale twice ... more

Real-estate event to link lenders, developers | 9/6/2010

Those seeking money for a promising construction project or other capital-intensive venture must have the right answers to negotiate their way to financing, while those offering money must ask the rig ... more

ADOT buying some houses in planned freeway's path | 9/6/2010

The Arizona Department of Transportation is quietly buying Phoenix homes in the path of the planned South Mountain Freeway from people with special hardship cases, even though the state is strapped fo ... more

Scottsdale panel awaits developer's proposal on luxury apartments | 9/4/2010

The Scottsdale Planning Commission and concerned residents will have to wait a while longer to find out what Gray Development Group has done to address the numerous concerns about its proposed luxury ... more

Gaylord, DMB seek 3-year extension for Mesa projects | 9/3/2010

Gaylord Entertainment Co. and DMB Associates are asking Mesa for another three years to get rolling on a planned tourism and convention destination in the far southeast Valley. Karrin Taylor, a vic ... more

Ohio developer buys Centerpoint for $30M, plans to finish by summer 2011 | 9/2/2010

The unfinished Centerpoint high-rise project in downtown Tempe has been sold to Cleveland-based Zaremba Group. The company will finish the two residential towers and retail space by summer 2011. ... more

Hard-hit banks in Arizona show signs of stabilization | 9/2/2010

Arizona's hard-hit banking sector is showing signs of stabilization but still lags the national industry in several key measures with no strong upturn in sight. New figures from the Federal Deposit ... more

Phoenix-area homebuilders surviving slump | 9/2/2010

One thing can be said with certainty about the Phoenix-area homebuilders still operating in 2010: They aren't building and selling houses because it's easy. With an estimated one in 10 homes vacant ... more

Central Arizona College buys 217 acres in Maricopa | 8/27/2010

Central Arizona College, a community college system that serves Pinal County, is buying 217 acres in the city of Maricopa and scouting for about 200 acres in the San Tan Valley for new campuses. Pl ... more

Canadians Mount Up, Head to Phoenix to Buy Homes: John Burns | 8/26/2010

The percentage of Canadian homebuyers in Maricopa County, which includes Phoenix, has been climbing since 2007 and now accounts for a larger sales volume than California, according to John Burns Real ... more

County stalls decision on waiving fees for San Tan Valley home developers | 8/23/2010

The Pinal County Board of Supervisors delayed action on a request Wednesday by D.R. Horton and Chi Contruction to extend the development agreement for the planned Copper Basin housing development to l ... more

Feed-in tariff to aid solar weighed | 8/22/2010

Arizona utility regulators are designing rules that would require power companies to buy electricity from solar developers at prearranged prices. The "feed-in tariff" aims to guarantee profits for ... more

Paulson Wins TOUSA Land Bid | 8/20/2010

Hedge fund manager John Paulson's RERF Acquisition has apparently emerged the victor in the bidding for the Western assets of the bankrupt TOUSA. It was the only bidder. "Paulson is essentially the ... more

Maricopa County lowers property taxes | 8/17/2010

Maricopa County authorities say the decline of property values during Arizona's current housing recession means the county-controlled portion of property tax bills will be lower for most homeowners th ... more

Work may start on new 500-home Gilbert site next year | 8/13/2010

The concept for Cooley Station, a mixed-use development with an urban core, has won it the title of "Gilbert's Mill Avenue" from planners and proponents. But a weak economy has stolen much of the p ... more


Goodyear – Mattamy Homes LLC in Tempe plans to build 58 residences within the Canyon Trails community at the southeast corner of Cotton Lane and Yuma Road in Goodyear. The builder paid $1.856 million ... more

Developer submits plans to Scottsdale for eco-resort | 8/13/2010

Developer Lyle Anderson submitted plans to Scottsdale for a resort adjacent to the Golf Club Scottsdale. He is seeking a rezoning to accommodate the eco-resort at the Reserve, designed to allow gu ... more

Low Rates Finally Spark Refinancings | 8/13/2010

After months of hovering near 50-year lows, mortgage rates have fallen even further, into uncharted territory and to a level lenders say is finally igniting more homeowner refinancing. The average ... more

Five Mistakes Home Builders Make | 8/12/2010

It’s common knowledge that home builders haven’t made money in recent years-and they’re trying desperately to change that. Thousands of staffers laid off. Floorplans made smaller. Coffee gone from the ... more

Solar plant setting up in Surprise | 8/12/2010

Rioglass Solar is the latest green energy-equipment manufacturer attracted to Arizona by economic incentives. The Spain-based company announced Wednesday that it will build its U.S. headquarters an ... more

Say Goodbye to Fannie and Freddie | 8/11/2010

THE Federal National Mortgage Association — known as Fannie Mae — and the Federal Home Loan Mortgage Corporation — Freddie Mac — were poorly structured from the time, 40 years ago, when they were set ... more

Tribes trump city in quest for economic development | 8/11/2010

As city leaders continue to position Maricopa for success in the battle for new businesses and their accompany-ing jobs, they face diverse competition from two neighbors with large cash accounts and d ... more

Government to spend $3 billion to help homeowners | 8/11/2010

The latest round of funding pushes the total federal commitment up to $4.1 billion. The government already runs two other programs to help homeowners modify existing mortgages or make their monthly pa ... more

New Arizona law helps shield buyers from mortgage abuses | 8/11/2010

New state licenses required for anyone handling a mortgage application could help prevent a repeat of the bad loans that contributed to Phoenix's housing crash. Backed by mortgage brokers and real- ... more

Home prices make gains in 2Q | 8/11/2010

The National Association of Realtors reported Wednesday the trend in stabilizing home prices solidified in second-quarter 2010 as more metro areas showed improvement over 2009 — including Phoenix. ... more

Foreclosure share up, numbers down | 8/11/2010

Arizona State University’s monthly foreclosure report presents a mixed bag of information. Foreclosures made up 43 percent of existing home sales across the Valley, up from the 30 percent range dur ... more

DebtX to Sell $234m HUD Commercial Mortgage Portfolio | 8/11/2010

Boston-based loan sale advisor DebtX will sell $234m of multifamily and healthcare loans for the US Department of Housing and Urban Development (HUD). DebtX — through its KDX Ventures partnership w ... more

50 Ways for Home Builders to Waste Money | 8/10/2010

It’s fair to say that home builders are more worried about cash flow and cost efficiencies today than ever before. It’s a necessity. After all, that botched foundation pour, costly callback, or unchec ... more

Pulte OKs settlement in Arizona loan probe | 8/10/2010

One of Arizona's largest homebuilders, Pulte Home Corp., has agreed to pay $1.18 million to settle a state investigation into how it marketed mortgages to homebuyers. The state Attorney General's ... more

Los Arcos developer sought | 8/9/2010

The lender for Los Arcos Crossing in south Scottsdale took ownership of the failed shopping center last week and plans to market it to developers. ML Manager LLC got the property after no bids wer ... more

Glendale to challenge decision on tribe's casino plans | 8/9/2010

While leaders of the Tohono O'odham Nation say they want to sit down and talk out differences, Glendale is mounting a legal challenge to a federal decision to turn 54 acres near the city's sports and ... more

East Valley housing more affordable | 8/8/2010

Amid the worst home-building slump in more than two decades, location has once again become the most important factor for metropolitan Phoenix's new-home buyers. After being pushed to the extreme ... more

SunEdison, DRI to partner on solar plants | 8/7/2010

SunEdison and DRI Energy are partnering on developing solar plants in three states including Arizona. SunEdison, a subsidiary of MEMC Electronic Materials (NYSE: WFR), and DRI plant to develop 19 m ... more

ML Managers takes over Ten Wine Lofts, Hotel Monroe | 8/6/2010

ML Managers LLC has taken possession of the Hotel Monroe in downtown Phoenix and Ten Wine Lofts in Scottsdale, both busted projects that the now defunct Grace Communities had partially developed. T ... more

Gilbert Council clears way for more homes at Morrison Ranch | 8/6/2010

The Gilbert Town Council on Thursday approved a proposal that paves the way for about 500 new homes in Morrison Ranch. The zoning case, which applies to 157 acres near Elliot and Recker roads, rem ... more

Glendale Planning Commission OKs rezoning for Bidwill development plans | 8/6/2010

The city of Glendale moved forward plans by the Bidwill family Thursday night to develop two hotels, 4.5 million square feet of office space and urban residences in what now are parking lots at Univer ... more

10 Best-Selling Master-Planned Communities | 8/5/2010

Let there be no doubt that master-planned communities took a direct hit in the downturn. Even in the nation’s best-selling communities, sales plummeted from a collective 20,000-plus homes at the p ... more

Scottsdale set to buy 2,000 acres of trust land for preserve | 8/5/2010

Scottsdale is gearing up to acquire 2,000 acres of state trust land for its McDowell Sonoran Preserve, a move that would allow a future trailhead in the city's northern reaches. The land, appraised ... more

$18.8 million construction project begins this month on Ellsworth Road | 8/5/2010

Construction will begin this month to widen a segment of Ellsworth Road that's a critical link between Queen Creek and Pinal County. The $18.8 million project will transform the two-lane Ellsworth ... more

Coolidge ready, willing, able to do business | 8/5/2010

Coolidge is focused on developing a robust business-friendly attitude that has already started to redefine the small city in the heart of Pinal County. The historic cotton farming community has use ... more

Broker questions FDIC tactics | 8/5/2010

With an interest-free loan from the FDIC, the private equity firm that acquired the real estate portfolio of Chicago-based Corus bank is in no hurry to sell off assets, which include about 900 unsold ... more

Fraud alleged in huge SoCal land venture's funding | 8/5/2010

Building giant Lennar Corp. and a former subsidiary defrauded California's public pension fund and others during their partnership in a failed development venture that involved the last major tract of ... more

Pulte in black for 1st time in 3 years | 8/5/2010

PulteGroup Inc., the nation's largest homebuilder, posted Wednesday a quarterly profit for the first time in more than three years, as Americans rushed to complete their purchases in time to qualify f ... more

Waveyard site leading contender for Cubs complex in Mesa | 8/4/2010

A battle may lie ahead over the Waveyard water park site in Mesa, as that locale is emerging as a top spot for the new Chicago Cubs spring training complex. At the same time as the team has shown m ... more

Sulfate suit expands to include Rancho El Dorado, Acacia Crossings | 8/4/2010

A claim alleging the builders and developers behind much of the vision of Maricopa used improper concrete is growing as Phoenix attorney John Chaix seeks to add homeowners in Rancho El Dorado and Acac ... more

Arizona takes top energy spot | 8/4/2010

Arizona has been labeled the nation's "Solar Energy King" by a leading business magazine, even though the state just has a handful of solar manufacturers and generating plants so far. Business Fac ... more

DC Ranch developer defaults on center loan | 8/4/2010

Bank of America has asked that a receiver be appointed for the posh Market Street at DC Ranch retail development in north Scottsdale. The center's owner DMD Market Street LLC, an affiliate of high ... more

Surprise lays out villages of the future | 8/3/2010

On Tuesday, Surprise Planning and Zoning commissioners will vote on the design of the first village, called Village 1, Surprise's downtown and one of its more densely developed districts. City plan ... more

San Riva condo conversion sold for $15.8M | 8/3/2010

Everest Holdings in Scottsdale and joint venture partner Thackeray Partners in Dallas purchased a stalled condominium conversion project in Ahwatukee. The buyers paid $15.8 million for San Riva at ... more

CityNorth marches along under new ownership group | 7/30/2010

Since July 1 when CityNorth's High Street was repossessed by a group of lenders led by Capmark Financial, little has changed at the troubled northeast Phoenix development. The only thing that has ... more

Did Home Builders Trade Off Better Land Pricing to Juice Cash Generation? | 7/30/2010

Cliches do their work and get tired for good reasons. They're often annoyingly obvious and aggravatingly true. "Be careful what you wish for," for instance. Way back when--in December and January--as ... more

Meritage nets $7 million in 1st 6 months | 7/30/2010

Meritage Homes Corp., Arizona's sole publicly traded homebuilder, continued to see profits in the second quarter, bringing its net income for the first half of the year to $7 million, compared with a ... more

Proposed resort/casino gets mixed reaction from Peoria | 7/29/2010

Peoria Mayor Bob Barrett described the recent federal decision to approve the Tohono O'odham Nation's application to turn land near the city into a reservation as "fabulous good news," while several o ... more

Housing recovery is about timing and location | 7/28/2010

If you bought a home in San Francisco in the past year, it might feel like the housing slump is over. Bay area home prices have shot up 18 percent in the past year. But someone next door who bough ... more

Regulatory Reform: What Impact Will It Have On Commercial Real Estate? | 7/28/2010

The Dodd-Frank Wall Street Reform and Consumer Protection Act, signed into law by President Obama last week, is a cornerstone of Congress and the Administration’s financial regulatory reform agenda, c ... more

Phoenix Home Sales Up 11% in June While Home Prices Remain Level | 7/28/2010

Home sales in the Phoenix Metro Statistical Area (MSA) rose 11% from May, but fell short of a year ago for the second consecutive month. A total of 10,430 new and resale houses and condos closed escro ... more

Jury awards $110M to Gray Development | 7/28/2010

A jury has awarded a Phoenix developer $110 million in connection with a stymied high-end apartment project near the CityNorth development in North Phoenix. Gray Development and its principal, Bruc ... more

Canadian group to build homes in Goodyear | 7/27/2010

Mattamy Homes U.S. Group, the U.S. division of the Canadian home builder, acquired 58 home sites at Canyon Trails in Goodyear and plans to introduce five new home designs there. Carolyn Morrison, ... more

Mesa mayor reveals possible locations for Cubs training site | 7/27/2010

Sites at Riverview Park and its golf course, downtown and northeast Mesa are emerging as the most likely homes for a new Chicago Cubs spring-training complex as the city attempts to finalize a plan to ... more

J.I. Kislak Unveils Multifamily Acquisition Strategy in Sunbelt States | 7/27/2010

Real estate investment company J.I. Kislak Inc. today announced plans to deploy $200 million to acquire multifamily properties with 150 or more units, including “broken” condominium projects, in Arizo ... more

Judge gives Beazer OK to buy bankrupt developer's Phoenix lots | 7/26/2010

Dow Jones Bankruptcy Review is reporting that a bankruptcy judge gave homebuilder Beazer Homes USA Inc. (BZH) permission to buy more than 200 undeveloped lots near Phoenix from DBSI Inc. for $6.4 mill ... more

ADOT: 'Two good options' for South Mountain Freeway | 7/26/2010

Arizona Department of Transportation and Gila River Indian Community experts are nearly finished with a study of alternative routes for the South Mountain Freeway through tribal land. The committee ... more

Luxury-tower plan rekindles debate over Scottsdale skyline | 7/25/2010

A plan to build up to 1,100 luxury apartments at Scottsdale and Camelback roads has reignited a debate among merchants, residents and city officials over building heights in downtown Scottsdale. Ea ... more

Developer dislikes proposed apartments' height | 7/22/2010

It may not be as expansive as originally planned, but a developer has initiated what is now a more gradual plan to further transform downtown Scottsdale's entertainment district, with the Valley's fou ... more

Plan unveiled for Scottsdale entertainment district | 7/22/2010

It may not be as expansive as originally planned, but a developer has initiated what is now a more gradual plan to further transform downtown Scottsdale's entertainment district, with the Valley's fou ... more

Housing index stays positive | 7/22/2010

A key indicator of the Phoenix-area housing market's overall health showed mild improvement in June, although prices in some segments of the market continued to decline, according to a new report from ... more

Home sales in June up in Gilbert, down in Queen Creek area | 7/21/2010

June single-family home sales dropped in the Queen Creek area, but rose in Gilbert over what they were in June 2009, according to a report by Coldwell Banker Residential Brokerage. Here's a look a ... more

Toll Brothers Creates Distressed Asset Management Company | 7/20/2010

Toll Brothers on Monday announced the creation of an asset acquisition and management unit designed to profit from distressed real estate. Named Gibraltar Capital and Asset Management LLC, the new ... more

Toll and Oaktree Capital Management Reportedly Win Distressed Asset Auction | 7/19/2010

Oaktree Capital Management, in partnership with luxury builder Toll Brothers, is said to have won an auction for the $1.7 billion asset portfolio of the seized AmTrust Bank from the Federal Deposit In ... more

FDIC Sells Pool of AmTrust Nonperformers for 37 Cents on the Dollar | 7/19/2010

A three-party consortium of opportunists has purchased a stake in an $898 million pool of nonperforming residential loans that the FDIC seized from AmTrust Bank when it went under last December. T ... more

Tempe unlikely to recover from condo crash anytime soon | 7/17/2010

Experts say condominium development in downtown Tempe, which came to an abrupt halt when the recession began, will likely be on hold for the foreseeable future. The beginning of the recession halt ... more

Sunbelt Holdings buying SunCor real estate assets | 7/15/2010

Sunbelt Holdings is buying SunCor Development’s real estate portfolio including commercial land at Hayden Ferry Lakeside in Tempe, the Sanctuary Golf Course in Scottsdale and land at the expansive Pal ... more

Harrah’s Ak-Chin Casino Begins $20M Expansion | 7/15/2010

The Ak-Chin Casino, which is owned by the Ak-Chin Indian Community and managed by Harrah’s, is expanding. Construction has begun on the five-story tower that will house 152 additional guest rooms. ... more

Ground broken on Sundance Business Center in Buckeye | 7/15/2010

Developers broke ground on the Sundance Business Center in Buckeye, a phased $20 million project that could be a catalyst for more medical services in the area. On Monday, town leaders grabbed sho ... more

Quantum Leap | 7/15/2010

Step back to the fall of 2008. Desperate builders across the country were scrambling to strip down their house plans to lower their prices in buyer-starved markets. Bert Selva, CEO of Shea Homes, says ... more

$40M Retail Center First to Receive LEED Gold in AZ | 7/15/2010

Mountain Ranch Marketplace, a Safeway-anchored shopping center, has received LEED Gold certification by the U.S. Green Building Council. It is the first neighborhood shopping center in Arizona, and on ... more

FDIC Closes $1.85bn Bulk Sale of Commercial Property | 7/14/2010

The Federal Deposit Insurance Corporation (FDIC) found a buyer for a $1.85bn portfolio of more than 1,600 commercial real estate loans acquired by the FDIC as receiver of 22 failed financial instituti ... more

Recession makes East Valley a retail black hole | 7/14/2010

The recession has turned the East Valley into the king of empty storefronts. The region has more vacant shops than the rest of the Valley, and the area also had the biggest gain of empty space in t ... more

First Solar closes deal; Arizona plant site readied | 7/14/2010

Tempe-based First Solar Inc. will break ground on a power plant near Yuma after finalizing its purchase Monday of NextLight Renewable Power LLC, a solar-development firm. NextLight designed what w ... more

A Deed-in-Lieu of Foreclosure Is a Valuable Tool, But Exercise Caution | 7/13/2010

The current recession, which real estate professionals might be more inclined to call a depression, likely will continue generating an almost bottomless supply of mortgage defaults for several years t ... more

Last big Queen Creek farm yields to homebuilders | 7/11/2010

Newell Barney may not be well known outside Queen Creek, but the 85-year-old farmer looms large in the tiny town at the southeastern fringe of the Valley. The great-grandfather to 70 children, whos ... more

Some residents oppose plan for more homes at community | 7/9/2010

A proposal to rezone 157 acres in the Morrison Ranch community near Elliot and Recker roads is drawing opposition from residents who are concerned about the potential loss of commercial land at the in ... more

Enterprise Bank & Trust Acquires Arizona Assets of Home National Bank | 7/9/2010

Enterprise Bank & Trust, a subsidiary of Enterprise Financial Services Corp /quotes/comstock/15*!efsc/quotes/nls/efsc (EFSC 10.24, -0.10, -0.97%) , announced that it has entered into an agreement with ... more

No clear trend on resales | 7/9/2010

An Arizona State University report issued on metro Phoenix's home-resale transactions in June contains lots of numbers but no answers, according to its author, ASU housing analyst Jay Butler. For ... more

$930 million Loop 303 expansion in Surprise likely to begin this year | 7/9/2010

Surprise's future retail projects remain stuck in the recessionary mud, but the freeway that will deliver people to those future developments is moving ahead with due speed. Later this month, plann ... more

Plans for luxury apartments spark downtown height debate | 7/9/2010

A Valley developer's plan to build up to 1,100 luxury apartments at Scottsdale and Camelback has resurrected a debate over the height of buildings in the downtown area. Gray Development Group was s ... more

Hedge Fund Investor is Leading Bidder on TOUSA's Western Assets | 7/9/2010

Noted hedge fund manager John Paulson’s company is the leading bidder for bankrupt TOUSA Homes’ Western region assets, offering $42.4 million for 8,277 un-started lots and 22 model homes in Arizona, C ... more

30-year mortgage rates fall again | 7/8/2010

The average rate on a 30-year fixed-rate mortgage fell to a new low this week, and adjustable-rate mortgages also edged lower. Freddie Mac says a 30-year fixed loan averaged 4.57 percent in the wee ... more

Arizona among top markets for international homebuyers | 7/7/2010

Arizona is one of the states benefiting as international interest picks up in U.S. homes, according to the National Association of Realtors 2010 Profile of International Home Buying Activity. Stren ... more

Housing market is a mixed bag | 7/6/2010

The Phoenix-area housing market continues to settle. The impact of the federal homebuyer tax credit on sales and the loan-modification program on foreclosures is still difficult to fully determine. ... more

M&I extends foreclosure moratorium | 7/6/2010

Marshall & Ilsley Corp. has extended a moratorium on home foreclosures that has been in place since December 2008 through Sept. 30, 2010. The moratorium is on all owner-occupied residential loans f ... more

Seattle firm sees potential in Valley | 7/6/2010

The company that recently purchased the Gateway building in downtown Tempe says it's looking to make more investments in the Valley's depressed real-estate market. The $35 million purchase of the ... more

Retail developers get creative to fix big-box glut in Valley | 7/4/2010

The worst economic downturn in decades, consumers' new habits and changing industry trends are permanently altering the shopping landscape. Soaring retail vacancies, brought on by overbuilding, poo ... more

Phoenix Arizona investment real estate | 7/4/2010

If you are planning for an investment in real estate in Arizona, then Phoenix is the best place you can invest your money. You can either buy a piece of land for development or even buy an already con ... more

Abengoa gets $1.45 billion loan guarantee for Arizona solar plant | 7/3/2010

Abengoa Solar will receive a $1.45 billion conditional loan guarantee to build the Solana Generating Station, a move that will accelerate the building of the largest power plant approved so far in Ari ... more

Charity Joins Top Home Builders' Ranks | 7/2/2010

A dozen female volunteers gathered recently in this blue-collar Long Island town, enduring the heat to help form the entryway of an 1,100-square foot home for Cheri Sabolenko and her two young childre ... more

Optima Sonoran Village would provide luxury condo living | 7/2/2010

An abandoned apartment complex near Scottsdale Fashion Square could soon give way to a luxury condominium complex with street-level retail. Orchidtree, the 9.87-acre complex, has been sitting vacan ... more

Mortgage holder takes over Elevation Chandler | 7/1/2010

The mortgage holder of Elevation Chandler foreclosed Thursday, taking possession of the troubled 10.6-acre parcel with a $1 million credit bid at a trustee sale. The public auction, in front of the ... more

FDIC Turns to Loss-Sharing Agreements as Bank Failures Mount | 6/30/2010

As the number of bank failures continues to climb, with troubled commercial real estate loans increasingly contributing to the failures, the Federal Deposit Insurance Corp. (FDIC) is taking steps to m ... more

Section of I-10 south of Phoenix area set to be widened | 6/30/2010

Relief is in sight for drivers who often find themselves caught in traffic bottlenecks on Interstate 10 between Casa Grande and Picacho Peak. The State Transportation Board this week approved a $3 ... more

Taylor Morrison's Sales Hold Steady | 6/29/2010

Taylor Morrison has sold almost as many homes in the first half of 2010 as it did during the same time last year, only with fewer communities open, its parent company, the U.K.-based Taylor Wimpey, an ... more

Gov. Jan Brewer privatizes economic development efforts | 6/29/2010

Gov. Jan Brewer is privatizing Arizona's business attraction and economic development efforts with a new group whose board includes pro sports owners, corporate executives and real estate developers ... more

New Meritage Community Offers Affordable Energy Efficiency | 6/29/2010

A solar electric and thermal system that makes fuller use of heat generated from the roof of a house is at the heart of energy-efficient and affordable homes that Meritage Homes started selling last w ... more

Scottsdale bank ordered to raise capital or seek a buyer | 6/28/2010

Legacy Bank of Scottsdale has been ordered by a federal banking regulator to raise capital soon or seek to be acquired by another company. The Federal Deposit Insurance Corp. issued a "prompt corre ... more

Meritage opens energy-efficient subdivision in Gilbert | 6/26/2010

Meritage Homes opened its first energy-efficient subdivision in Gilbert, with houses aiming to cut energy costs by 80 percent. The 210-home Lyon’s Gate subdivision has opened to the public. The hom ... more

Woodside Plans to Exit East Coast Markets | 6/24/2010

Six months after emerging from Chapter 11 bankruptcy, Salt Lake City-based private home builder Woodside Homes plans to sell off its East Coast home building and land assets, exiting four market arena ... more

House Bill Wants Feds to Guarantee ADC Loans For Builders | 6/23/2010

As builders struggle to get financing for land development and construction, a North Carolina congressman has called on the federal government to step in and guarantee loans for viable building projec ... more

Forbes Interactive Feature Map: Where Americans Are Moving | 6/21/2010

More than 10 million Americans moved from one county to another during 2008. The map below visualizes those moves. Click on any county to see comings and goings: black lines indicate net inward moveme ... more

Arizona No. 2 in new jobs since 2000 | 6/21/2010

Over the past 10 years Arizona has added more jobs than every state except one, according to new figures from the U.S. Bureau of Labor Statistics. Arizona added 119,100 private-sector jobs from May ... more

Phoenix rental market showing signs of rebound | 6/17/2010

Commercial-property owners are counting on apartment buildings to lead the Phoenix area's real-estate market toward recovery, based on a recent rebound for units rented and buildings sold. That mea ... more

New Toll Brothers CEO optimistic about market | 6/16/2010

Douglas Yearley was just a child when the man he's replacing as the chief executive of Toll Brothers Inc. launched what would become the nation's largest luxury homebuilder. That's more than 40 ye ... more

Sarver's SVP closing in on $200M real estate fund | 6/16/2010

Southwest Value Partners, a real estate investment firm co-founded by Phoenix Suns owner Robert Sarver, is in the final stages of closing a $150 to $200 million fund that may target high-growth area ... more

Lender fields bids for Centerpoint condo towers | 6/16/2010

Two years ago, Arizona's largest private real-estate lender, Mortgages Ltd., was forced into bankruptcy. Its high-profile and expensive projects stalled shortly after that, as did the lender's dividen ... more

Homebuilders no longer able to aid recovery | 6/16/2010

Homebuilders are sending a message: They won't be able to contribute much to the economic recovery now that government homebuying incentives have vanished. Home construction and applications for bu ... more

ASU: Home values likely to remain flat | 6/16/2010

New research on the Phoenix housing market from Arizona State University shows home prices are likely to remain stable for an extended period of time. On the positive side, the Arizona State Univer ... more

Effort aims to keep Mesa golf resort off foreclosure block | 6/15/2010

Executives of Mesa's only golf resort and conference center are battling to keep the sprawling hospitality retreat off the foreclosure auction block. "We're negotiating with the lender to try to re ... more

Report: More than half of Arizona banks vulnerable to failure | 6/14/2010

Three out of five banks based in Arizona are considered “vulnerable” to failure, according to a new report from a Florida bank rating firm. Of the 45 banks analyzed by Jupiter-based Weiss Ratings a ... more

Arizona home builders buying up land once again | 6/13/2010

Homebuilders are buying land again in metropolitan Phoenix. So far this year, according to the Arizona brokerage firm Land Advisors, homebuilders here have spent $90 million on land purchases for ... more

Signs Arizona's economy may be improving | 6/13/2010

Arizona's economy continued to offer signs that its green shoots of growth are continuing to flourish. Motor-vehicle sales and job numbers were especially strong in the most recent data, and the housi ... more

Signs Arizona's economy may be improving | 6/13/2010

Arizona's economy continued to offer signs that its green shoots of growth are continuing to flourish. Motor-vehicle sales and job numbers were especially strong in the most recent data, and the housi ... more


Mattamy Homes plans to build 42 homes within the Marley Park community in Surprise. The builder paid $735,000 to purchase the finished lots. The seller was a Marley Park Properties LLC in Scottsdale, ... more

Fulton Homes Presents More Generous Payback Offer to Lenders | 6/10/2010

Fulton Homes’ latest reorganization plan, which the Arizona-based builder filed last month with the U.S. Bankruptcy Court in Phoenix, calls for repaying in full the $164.7 million it owes its unsecure ... more

Beazer Adds Solar Leasing Option to Homes in Phoenix | 6/9/2010

Beazer Homes is expanding its green-built offerings in Phoenix by giving buyers the option to lease solar panels, thereby lowering utility bills without the dissuasive upfront costs of sun-harnessing ... more

New Valley foreclosure filings lowest since July 2008 | 6/9/2010

The number of new foreclosure filings against Phoenix-area homeowners fell in May to the lowest level since July 2008. Last month, there were 6,471 pre-foreclosures, or notice of trustee sales, fi ... more

ASU: Home foreclosure sales declining | 6/9/2010

New research from Arizona State University shows foreclosures as a share of overall Valley home sales are declining. The latest ASU Realty Studies report from the W.P. Carey School of Business says ... more

May foreclosure rate steadies as banks hold back | 6/9/2010

WASHINGTON - The foreclosure crisis appears to be leveling off. The number of people facing foreclosure is nearly flat from a year ago, according to the latest report from a private foreclosure-lis ... more

$5M could be going price for Elevation Chandler | 6/8/2010

Elevation Chandler, the partly built hotel with a mortgage of $24 million, could realistically be sold for $5 million to $6 million, a top commercial broker says. Moreover, a buyer would need to t ... more

Hovnanian Focuses on Land Buying | 6/4/2010

Hovnanian Enterprises will return to profitability when it gets more lower-priced land for building new homes in its portfolio, which is more likely to happen next year than this one, CEO Ara Hovnania ... more

Sector Snap: Housing stocks rise on housing report | 6/3/2010

Shares of several homebuilders jumped Wednesday after a report showed pending home sales surged in April to the highest level since October. The National Association of Realtors said its seasonall ... more

Pending sales of existing homes up | 6/2/2010

The number of contracts to buy previously owned homes climbed in April as Americans took advantage of the last month of a tax credit. The index of pending home re-sales rose 6 percent, exceeding th ... more

Developer defaults, lender wants Los Arcos property | 6/2/2010

Los Arcos Crossing, the failed shopping center on McDowell Road whose latest developer vowed to turn it into Scottsdale's "center of life," is headed to foreclosure and a possible sale by the end of t ... more

Canadians now top out-of-state homebuyers | 6/2/2010

There's a shift in who is investing in metro Phoenix homes. Californians are no longer the region's biggest group of out-of-state buyers. Now, the dominant group of out-of-state buyers is from outs ... more

Fulton Homes opposes creditors' plan | 6/2/2010

Bankruptcy has been good to Fulton Homes, according to documents the company filed in U.S. Bankruptcy Court last week stating that it intends to repay creditors in full, with interest, over the next f ... more

CityNorth foreclosure sale postponed again | 6/1/2010

The CityNorth foreclosure sale scheduled for Wednesday has been postponed a second time. The sale has been rescheduled for June 16. It originally was scheduled to occur March 31. Capmark Finan ... more

Arizona commercial real estate brokers: Some lenders ignore crisis | 5/30/2010

Arizona's housing market is deep into the process of flushing out its bad mortgage debt. But lenders and borrowers of troubled commercial real-estate loans continue to live a lie. Commercial real- ... more

Expert: High-end Valley homes stabilizing | 5/28/2010

A number of recent reports suggest home prices across the country could be headed for a double-dip. But ASU professor Karl Guntermann offers some good news in the meantime for owners of higher-priced ... more

Expert: High-end Valley homes stabilizing | 5/28/2010

A number of recent reports suggest home prices across the country could be headed for a double-dip. But ASU professor Karl Guntermann offers some good news in the meantime for owners of higher-priced ... more

New homes being sold again in distressed Gilbert area | 5/28/2010

Nearly two years after its initial developer went bankrupt, the sparsely populated Stratland Estates neighborhood is finding new life. Earlier this month, Pulte Homes, which purchased 107 lots in S ... more

Home prices show first annual increase in three years | 5/27/2010

New research from Arizona State University shows that Phoenix-area housing prices in April posted a year-over-year increase for the first time in three years. The Arizona State University-Repeat ... more

Glendale OKs 45-acre Urban95 project | 5/26/2010

Glendale city council unanimously approved a planned unit development of 45 acres just south of Missouri Avenue between Loop 101 and 95th Avenue. The proposed mixed-use development, dubbed Urban9 ... more

SunCor's Utah site sold for $3.4 million | 5/26/2010

Pinnacle West Capital Corp.'s real-estate subsidiary has sold one of its holdings to the Utah School and Institutional Trust Lands Administration, which agreed to pay $3.4 million to buy SunCor's stak ... more

State trust land sold at auction for $2 million | 5/26/2010

Amid some confusion, the head of a Seattle-based firm was the winning bidder Tuesday for 4.7 acres of state trust land in Scottsdale. Perry Koon bought the parcel northeast of Loop 101 and Frank L ... more

New home sales jump 14.8% in April | 5/26/2010

WASHINGTON - Sales of new homes posted another large gain in April as buyers rushed to sign contracts before government tax credits expired. The Commerce Department says sales of new single-family ... more

New Data on New Home Sales | 5/24/2010

As we digest Wednesday’s New Home Sales report, we can get deeper into the issue by looking at our first-hand information in markets all around the country. We do constant research in 84 housing mark ... more

Arizona unemployment rate falls; 19,500 jobs added | 5/21/2010

Arizona's job picture brightened considerably with an increase of 19,500 jobs in April, the largest number of new hires in the month of April since 2005, the Arizona Department of Commerce reported Th ... more

Ellman faces foreclosure on land for luxury homes, resort | 5/20/2010

A developer faces foreclosure on a 2,450-acre swath of land east of Fountain Hills where 1,000 luxury homes and a resort were planned. The Ellman Cos., doing business as Goldfield Preserve Develop ... more

Investors Ease Strain on F.D.I.C. | 5/19/2010

After contending with nearly 240 bank failures since the financial crisis struck, the Federal Deposit Insurance Corporation is finally getting some help from private investors. A spate of recent b ... more

Phoenix housing market appears poised for recovery | 5/18/2010

While a recent Forbes article declared that Phoenix is still in an economic free fall, indicators in the housing market point to the beginning of a recovery, according to a recent report by Metrostudy ... more

Housing Starts Climb | 5/18/2010

Total April housing starts were up 5.8% compared to March at a seasonally adjusted rate of 672,000 and up 40.9% compared with April 2009’s rate of 477,000, according to the Commerce Department’s month ... more

Housing starts highest since 2008 | 5/18/2010

May 18 -- Builders in April broke ground on more U.S. homes than anticipated as buyers took advantage of a tax credit before its expiration. Housing starts rose to a 672,000 annual rate last month, ... more

Builder Confidence Rises to Highest Level Since 2007 | 5/17/2010

U.S. home builders might not be singing “Happy Days are Here Again,” but they seem to be humming a few bars of “I Whistle a Happy Tune.” According to the NAHB/Wells Fargo Housing Market Index, buil ... more

Goodyear City Council OKs raising, creating service fees | 5/14/2010

Goodyear is raising or creating a total of 255 fees on July 1 to cover the cost of providing services. The City Council on Monday adopted the fees, expected to generate $350,000 in fiscal 2011, sai ... more

$900M lawsuit filed against Mortgages Ltd. | 5/13/2010

Investors have filed a $900 million federal lawsuit against two Phoenix law firms alleging their attorneys helped real estate investment firms Mortgages Ltd. and Radical Bunny mislead and defraud in ... more

Arizona foreclosures fall by 15% | 5/13/2010

Home foreclosure activity in Arizona fell nearly 15 percent from March to April, but the state’s foreclosure rate moved from the nation’s third-highest to second-highest, according to new data from ... more

Report: Valley housing prices continue to rise | 5/13/2010

Phoenix-area housing prices continued an upward trend for 2010 with prices increasing almost 5.5 percent from $136,500 in January to $144,000 in April, according to Wednesday’s Realty Studies report f ... more

Builder CEOs Call Market Bottom | 5/12/2010

might be bouncy, rocky, and long, but the housing recession's bottom is here, agreed CEOs on the opening panels at Hanley Wood's Housing Leadership Summit in Chicago. The big questions home building ... more

Market watcher gets caught in bubble | 5/6/2010

Terry McDonnell has enjoyed success in publishing and real estate. Now, with both those business sectors struggling, the Scottsdale publisher of Business Real Estate Weekly has taken a hit A ... more

Big Builders Accumulate Land with Abandon | 5/5/2010

As the housing industry comes out of its recession, the big public companies have begun amassing land again at a frenzied pace. Without question, as land prices have come down, more builders are pu ... more

Phoenix No. 2 spot for college grads | 5/5/2010

Phoenix may still be reeling from the housing crash and bum economy, but college graduates seem to think it’s the place to be. The city follows Atlanta to take second place, but makes the “Top 10 B ... more

In foreclosure crisis, demand for family homes in Phoenix rises | 5/3/2010

People looking for family-size houses to rent in Phoenix-area neighborhoods have far fewer choices. Since September, the number of available rental homes in metropolitan Phoenix has dropped by 40 ... more

D.R. Horton Will Lead Housing Industry to Recovery, CEO Says | 5/2/2010

D.R. Horton CEO Don Tomnitz was chock-full of praise and pride Friday during the company's second quarter earnings call, taking time to thank profusely all the company's employees for helping it achie ... more

Meritage Homes Back in the Black | 4/30/2010

Meritage Homes' first quarter of 2010 marked a major milestone for the company. After three years of talking only about losses, company executives were finally able to return the word "profits" to the ... more

Housing permits spike in Gilbert, Queen Creek | 4/29/2010

Gilbert and Queen Creek saw big upward spikes in the number of single-family housing permits issued in the first two months of 2010, in large part due to tax credits that end Friday. Gilbert's 260 ... more

Meritage Homes posts 1st profit in 3 years | 4/28/2010

Meritage Homes Corp., the only publicly traded homebuilder based in Arizona, reported its first pre-tax quarterly profit in three years, helped in large part by a $2.8 million gain from early repaymen ... more

Phoenix housing values improve | 4/27/2010

Two reports released Tuesday, one local and one national, appear to confirm that housing values are improving in the Phoenix market. Arizona State University’s Repeat Sales Index shows that although p ... more

Competition Tough in Failed Bank Real Estate Asset Auctions | 4/26/2010

BEVERLY HILLS, California (Reuters) - Bidding on real estate assets of failed banks has become aggressive, as investors searching for distressed opportunities in the sector, wait in vain for property ... more

New home sales jump from record low | 4/23/2010

WASHINGTON - Sales of new homes surged 27 percent last month, bouncing off the previous month's record low and blowing past expectations as better weather and government incentives boosted sales. T ... more

New Home Sales Soar Nearly 27% in March | 4/23/2010

The annual rate of new home sales increased 26.9% from February to March, and according to revised numbers from the Commerce Department’s Census Bureau and the Department of Housing and Urban Developm ... more

Top 10 Builders Slogged Through Tough 2009 | 4/22/2010

The end of the housing recession did not materialize in 2009 as builders expected, and the fallout—in terms of failed companies, lost jobs, and red ink—is still spilling into 2010. But there were sign ... more

Realtors: Phoenix home prices, sales on the rise | 4/22/2010

The National Association of Realtors reports year-to-year increases in median prices and home sales in the Phoenix area. Prices in March came in at $144,500, up from $127,500 in March 2009, a 13. ... more

Retail vacancies hit 11.9%, big box vacancies soar | 4/21/2010

The amount of empty retail space continues to rise in the Phoenix area with vacancy rates hitting 11.9 percent in the first quarter and negative absorption of 398,760 square feet. This is the six ... more

10 Quick Observations On the Distressed Property Buying Market | 4/21/2010

The first thing to know about the distressed property market is that risk appears to be back in favor this year after buyers sat on the sidelines in 2009. CoStar Group examined 2,375 distressed pr ... more

Vacant Shopping Center Trades for $1M | 4/20/2010

GILBERT, AZ-The Shops at Fiesta Ranch, a 16,718-square-foot, vacant retail property, has sold for $1.1 million, or $66 per square foot, in one of the Valley's first short sales during this current dow ... more

Economist: Recession over in Ariz. | 4/19/2010

University of Arizona economist Marshall Vest says the recession officially ended in Arizona several months ago, although it will be months before a recovery is evident and years to repair all the dam ... more

Tenants, receivers benefit from retail-center foreclosures | 4/18/2010

In metro Phoenix's underoccupied, financially stressed shopping centers, the remaining tenants face yet another challenge. Besides their own financial woes linked to the worst recession in decades, ... more

Developer hopes to transform salt site | 4/18/2010

About five years ago, agribusiness giant Cargill Inc. approached real-estate developer DMB Associates Inc. Cargill owned a site at the edge of the San Francisco Bay, a site used for commercial salt ... more

Ahwatukee's retail market healthy | 4/16/2010

Despite the sluggish economy, Ahwatukee Foothill's retail vacancy rate remains about half that of Valley as a whole. Numbers from CB Richard Ellis indicate that Foothills shopping centers were sli ... more

Judge delays auction for 44 Monroe | 4/15/2010

A Bankruptcy Court dispute delayed Wednesday's foreclosure auction of 182 unsold downtown Phoenix luxury condos. Three creditors of the 44 Monroe tower, located near First Avenue and Monroe Street, ... more

UA forecast calls for rebound in Valley housing market this year | 4/15/2010

The Valley's new-home market is on its way to recovery, according to a University of Arizona forecast. The UA Economic and Business Research Center report predicts that new-home permits in metro Ph ... more

Investors Sense Markets Have Bottomed, Are Prepared to Buy | 4/15/2010

Property investors are looking to significantly increase their acquisition activity over the coming 12 months. Fifty-four percent of United States investors and developers surveyed by Jones Lang L ... more

Scottsdale home sales highest in nearly five years | 4/14/2010

Scottsdale home sales spiked in March to their highest level in nearly five years as short sales, foreclosures and fix-and-flip foreclosed properties boosted the market. Home sales and foreclosures ... more

FDIC Steps Up Busted-Bank Loan Sales on Terms Buyers ‘Love’ | 4/14/2010

April 14 (Bloomberg) -- Starwood Capital Group LLC, Colony Capital LLC and TPG, whose leaders profited from the 1990s savings and loan crisis, are among firms buying assets from the Federal Deposit In ... more

Nonperforming Loan Market Still Not Performing | 4/13/2010

NEW YORK CITY-Most would-be investors in distressed debt think the market for such debt hasn’t gotten up to speed, with 76% of respondents to an Ernst & Young survey saying the market is “still develo ... more

Meritage Homes is poised for profitability | 4/13/2010

To survive the housing crash, homebuilders had to slash prices, cut costs and find ways to compete with foreclosures. Scottsdale-based Meritage Homes is an industry survivor. The company, metro Pho ... more

Hong Kong Economic Commissioner hopes to foster closer ties with AZ | 4/13/2010

The Hong Kong Commissioner for Economic and Trade Affairs visited Arizona for the first time in 10 years Tuesday to make companies aware of the business opportunities in Hong Kong. “We do believe ... more

GPEC talking to dozen companies in DC about locating jobs in Arizona | 4/13/2010

Greater Phoenix Economic Council CEO Barry Broome said Tuesday his group is meeting with a dozen companies in the Washington area that are interested in locating operations and jobs in Arizona. Bro ... more

Health care corridor forms along Higley Road | 4/13/2010

Higley Road is becoming a key address in the medical community. From Baseline Road in Gilbert to Southern Avenue in Mesa, that stretch of pavement along Higley Road is shared by Phoenix Children’s ... more

Pulte buys 88 Gilbert lots for $5.7M | 4/13/2010

PulteGroup Inc. announced Monday that it purchased 88 finished lots in Gilbert at the Lyon’s Gate master-planned community located near Higley and Ray roads. Pulte spokesperson Jacque Petroulakis s ... more

Uptick in home building encourages Chandler officials | 4/13/2010

The pace of Chandler home building is picking up, and that's giving officials hope that the city is on its way out of the recession. City Manager Mark Pentz recently compiled a list of current and ... more

Less-intrusive South Mountain Freeway route urged | 4/13/2010

The state's controversial planned route for the South Mountain Freeway would take out three mountain ridges, 184 houses, a church and several apartment complexes. Now two members of Congress are u ... more

How one hedge fund helped keep the housing bubble going | 4/12/2010

In late 2005, the booming U.S. housing market seemed to be slowing. The Federal Reserve had begun raising interest rates. Subprime mortgage company shares were falling. Investors began to balk at buyi ... more

Strategic Storage Trust buys Mesa facility | 4/12/2010

Strategic Storage Trust Inc., a California real estate investment trust, has acquired a 570-unit self-storage facility in Mesa. Augusta Ranch Self Storage, 9252 E. Guadalupe Road, was developed i ... more

Delta Associates: National Distress Hits $187B | 4/12/2010

WASHINGTON, DC-Nationally, the total value of distressed commercial real estate has reached $187.4 billion, including properties in distress, foreclosure and lender REO, reports Delta Associates in it ... more

Strategic Self Storage Makes Second AZ Buy | 4/12/2010

MESA, AZ-Strategic Storage Trust Inc. has acquired Augusta Ranch Self Storage just days before the property’s special servicer planned to foreclose on the 570-unit self storage facility. As part of t ... more

Regional Queen Creek shopping center on hold | 4/12/2010

Queen Creek officials are uncertain about future plans for a regional shopping center in their community. Doreen Cott, Queen Creek's economic development director, said town staff once anticipated ... more

Uptick in business activity along Price Corridor | 4/9/2010

When the economy tanked, business activity largely stalled or stopped along the Price Corridor, a major employment area in Chandler. But a few bright spots appeared, and in the past 30 days, leasi ... more

Tempe Centerpoint's auction yields no bids | 4/9/2010

The Centerpoint condominium towers in downtown Tempe failed to sell at a foreclosure auction Tuesday, forcing the lender, ML Manager LLC, to take over the property. Peoria-based ML Manager, the su ... more

Price cuts help condo sales bounce back | 4/9/2010

Urban condos throughout the Valley are selling quickly now that lenders have sold the properties to new developers at sizable discounts. The buyers, in turn, have brought the condos back to market at ... more

Tesco to open three Fresh and Easy stores | 4/7/2010

The British grocery invasion into metro Phoenix continues with openings of three Fresh and Easy stores across the Valley this month. United Kingdom-based Tesco will open Fresh and Easy stores in ... more

Small Banks Quickly Shed Commercial Real Estate Risk | 4/7/2010

Under pressure from federal regulators and weighed down by an unhealthy exposure to commercial real estate, small banks — or those in the $1 billion to $100 billion asset range — are making haste to c ... more

Private Equity Money Seeing Opportunities in CRE Again | 4/7/2010

Fund managers and others involved in the real estate private equity sector expect further deterioration in commercial real estate this year as unemployment leads to lower commercial occupancies and de ... more

Meritage selling, buying notes | 4/6/2010

Meritage Homes Corp. wants to redeem up to $195 million in senior notes that pay up to 7 percent interest and has launched a $200 million private placement of new senior notes to pay for the purchas ... more

Pending sales of existing homes up 8.2% | 4/5/2010

April 5 -- More Americans unexpectedly signed contracts in February to buy previously owned homes, signaling government efforts to support the market will start to pay off. The index of purchase ag ... more

Phoenix, AZ still among growth spots | 4/5/2010

Phoenix and Arizona may still be feeling fallout from the housing bust, but they’ve made a mark on U-Haul International’s latest survey of top destinations and growth markets. Houston ranked as the ... more

Pulte Homes: Changing name; Centex brand unchanged | 4/5/2010

Pulte Homes Inc., which acquired Dallas-based builder Centex Corp. last year, is changing its name to PulteGroup Inc. to reflect the company’s new identity. The name PulteGroup is now the company ... more

FDIC Sells $491 Million in Home Loans | 4/1/2010

The Federal Deposit Insurance Corp. has sold $490.7 million in troubled mortgage loans from 19 banks that failed between August 2008 and March 2009 as it works through an inventory of assets from the ... more

Waveyard may go water first, resort later | 3/31/2010

The developer of the Waveyard water park in Mesa is looking to start the project with only the water component at first, while delaying the resort until the economy picks up. Waveyard co-owner Rich ... more

Somewhere to live | 3/31/2010

CHANDLER and Maricopa are typical of the youthful, sprawling cities on the southern edge of Phoenix, Arizona. The thousands of stucco-walled houses with tiled roofs in Chandler’s palm-tree-lined stree ... more

Master-planned community may be on horizon in Queen Creek | 3/29/2010

One of the largest master planned communities in Queen Creek's history could soon be under way. If approved by the town, Church Farm would be bordered by Meridian and Signal Butte roads to the east ... more

Phoenix population gains 1.8% in 2009 | 3/23/2010

Phoenix-area population grew by 1.8 percent from July 2008 to July 2009 and 34.2 percent since 2000, according to Census Bureau released population estimates for all 940 metropolitan and micropolitan ... more

Portion of Glendale Corporate Center sold for $9.2M | 3/22/2010

A large portion of the Glendale Corporate Center has been sold to a Los Angeles real estate investment firm. Regent Properties paid $9.2 million for three vacant buildings, totalling 146,100 square fe ... more

Property Pricing in January Rose for Third Straight Month | 3/22/2010

In another sign that the era of rapid commercial property value declines is ending, pricing in January increased for the third consecutive month, according to the Moody's/Real Commercial Property Pric ... more

Experts: Troubled Asset Cycling May Speed Up | 3/22/2010

SAN FRANCISCO-Amid reminders from real estate researcher Foresight Analytics that billions of dollars in real estate may go back to lenders this year, panelists at an Urban Land Institute meeting in S ... more

Council to consider Price Road office park | 3/21/2010

A major new office park on Chandler's Price Road technology corridor, eventually expected to house businesses employing up to 9,000 people and a planned University of Arizona campus, goes before the C ... more

Banks see signs that recession is easing | 3/19/2010

Bankers grappling with the worst of the commercial real estate crisis are seeing signs that the cycle has hit bottom. That’s good news even as bankers are hit with painful loan losses and tougher r ... more

Phoenix homes now undervalued by 22% | 3/19/2010

A frequent leader of late on the negative side of housing stats, Phoenix avoided the top spot among offenders on IHS Global Insight’s analysis of overvalued housing markets during the real estate bubb ... more

Seasonal residents, not rebate extension, lift Phoenix housing market | 3/19/2010

Extending the federal income-tax rebate for first-time homebuyers hasn't done much to boost Valley home sales since the rebate's original cutoff in November, leading some local homebuilders and analys ... more

SE Valley home values fare better than most in metro area | 3/19/2010

Home prices across the Valley took another hard hit in 2009, but real-estate data show the Southeast Valley is still faring better than most parts of Phoenix and the West Valley. Twenty-seven Maric ... more

Tax Change Could Spur Foreign Buyers | 3/18/2010

NEW YORK CITY-A proposed change in the taxation of foreign investors’ capital gains from real estate could generate even more interest from overseas than the market is already seeing, says real estate ... more

Businesses looking to move to Gilbert | 3/17/2010

Nearly 90 businesses are looking to open facilities in Gilbert, representing a potential 7,524 new jobs for the town and $725 million in potential capital investment. Dan Henderson, Gilbert's busin ... more

Mondrian Scottsdale now Hotel Theodore under new owners | 3/17/2010

The Mondrian Scottsdale has a new name and new management company after no bidders surfaced to buy the struggling boutique hotel. The 194-room hotel in downtown Scottsdale, which has had many names ... more

Five states rush plans for $1.5 billion in housing funds | 3/16/2010

PHOENIX - The five states hardest hit by the foreclosure crisis have been given only weeks to plan how to spend $1.5 billion in federal funding announced by the Obama administration last month. Guid ... more

A Fresh Look | 3/12/2010

Housing’s history is litteredwith failed attempts to integrate advanced home building techniques into a critical mass of construction practices. Even though builders routinely over-engineer homes, and ... more

Failed real-estate venture turns investors into accidental landlords | 3/11/2010

Throughout the 1990s, Phoenix-based Right Place Properties had a solid reputation as a boutique developer and real-estate brokerage. It bought low-rent apartment buildings - about one a year - and re ... more

AZ forecloses drop 21% Jan. to Feb. | 3/11/2010

While foreclosures in the U.S. were down 2 percent in February from January, Arizona posted a drop of nearly 21 percent. Still, Irvine, Calif.-based RealtyTrac puts the state in the No. 2 spot nati ... more

Developer reveals plans for Chandler corner | 3/9/2010

Chandler officials are in talks with a New York-based developer to build a mixed commercial/residential project several stories tall on a high-profile corner viewed as a future northern "gateway" into ... more

Phoenix’s Joseph Carl Homes Gets a Strong Starts | 3/8/2010

We’re staying focused on a very positive story in home building right now. It’s not a big story. On the contrary, it’s rather a small one. Ten new-home sales small. Still, those 10 homes sales are ... more

Wisconsin company to buy Chateaux for $7M | 3/5/2010

A Wisconsin company that manufactures and distributes food-processing ingredients has been selected to purchase the opulent Chateaux on Central brownstone project. The winning bid: $7 million. The ... more


A joint venture formed by Quantum Capital LLC in Phoenix (Dave Cornwall, Ryan Kealy, Augustine Gomez and Chris Barr, principals) and Dolphin Partners Inc. in Irvine, Calif. paid $2.867 million to buy ... more

Townhomes offer good signal | 3/4/2010

Desert Viking, the developer of a big townhouse project in downtown Chandler, has resumed construction after receiving a $10.2 million loan from Wells Fargo. Work stopped last summer. Single-family ... more

Warren Buffett sees housing market bouncing back by 2011 | 3/1/2010

Billionaire Warren Buffett said the U.S. will recover from the residential real estate slump by 2011 as demand for houses catches up with the supply that accumulated during the bubble. "Within a year ... more

T.W. Lewis President Egan Steps Down | 3/1/2010

Even as pockets of the Phoenix residential real estate market--particularly for finished home lots at dramatically repriced levels--continue to show the first faint signs of a pulse, home builder oper ... more

Commercial property values down as much as 50 percent since ’07 | 2/26/2010

Commercial real estate values in Phoenix have plummeted along with home values. Vacancy rates are high and falling rental rates are taking their toll on office, retail and industrial property owners. ... more

Multifamily housing deals up slightly from 2008 to ’09 | 2/26/2010

The multifamily investment market in Phoenix chugged along during 2009’s Great Recession. The number of sales transactions increased from 60 transactions in 2008 to 68 in 2009, according to Scottsdale ... more

How to ensure you make full recovery | 2/26/2010

It was sobering to hear what the experts had to say about the near-term future of the Valley’s economy and real estate outlook at the “Gloom to Zoom” seminar we co-hosted for about 300 observers last ... more

Experts: Lenders more inclined to work out commercial loans | 2/26/2010

Distressed commercial loans — whether for office, industrial, retail or even multifamily housing — have a better chance of getting a mortgage modification than underwater homeowners, local real estate ... more

Local firm buys Starwood assets | 2/26/2010

Feb. 26--LAKEWOOD RANCH -- A local real-estate investment firm said Thursday it has completed its purchase of thousands of home lots and dozens of model homes from a bankrupt Florida builder. Star ... more

Exclusive: Paulson and other smart money buying dirt | 2/25/2010

A real estate recovery fund backed by Paulson will, with court approval, be the first bidder on a portfolio of land assets up for auction from bankrupt homebuilder TOUSA Inc (TOUSQ.PK), according to t ... more

Housing-price recovery hits new milestone | 2/25/2010

The Valley's epic home-price slide reached another recovery milestone in January, the first month in nearly three years with a single-digit annual rate of decline, according to preliminary data from A ... more

Bernanke sees low rates amid signs of weak rebound | 2/25/2010

WASHINGTON - New signs emerged Wednesday that the economic rebound is sputtering. Sales of new homes hit a record low last month. And mortgage giant Freddie Mac signaled it will need more federal aid ... more

Humana to expand to West Valley | 2/23/2010

In a further expansion of its Arizona operations, Humana will relocate 300 of its employees from the East Valley to the West Valley in May, with plans to hire up to 150 more workers in 2011. The m ... more

Home prices rose for 7th month | 2/23/2010

Feb. 23 -- Home prices in 20 U.S. cities rose in December for a seventh consecutive month, indicating the industry at the heart of the worst recession since the 1930s is stabilizing. The S&P/Case-S ... more

Phoenix home prices begin recovery | 2/23/2010

The Phoenix housing market got back in the win column in December as seasonally-adjusted median home prices rose 0.5 percent from November, according to the S&P/Case Shiller Home Price Index. The D ... more

NAR: No commercial real estate recovery until next year | 2/23/2010

The National Association of Realtors expects higher commercial real estate vacancy rates and falling rents throughout 2010, and notes virtually no new development this year. While forecasting impro ... more

Obama to tout housing help Friday in Las Vegas | 2/19/2010

LAS VEGAS - President Barack Obama is unveiling $1.5 billion in housing help, a boost timed to his appearance in the city with the worst foreclosure crisis in the nation. Obama's move, detailed by ... more

New Obama foreclosure aid to help Arizona | 2/19/2010

President Barack Obama announced $1.5 billion in new federal foreclosure aid for states hit hardest by the housing crash, including Arizona. Housing agencies in Arizona, Nevada, Michigan, Florida a ... more

Real estate experts forecast metro Phoenix market recovery in 2014 | 2/19/2010

The Arizona real estate market will recover slowly and approach modest levels of normalcy — but not until 2014. That was the assessment of a group of experts who gathered Friday morning for “Gloom to ... more

Home building is picking up in Chandler | 2/19/2010

Desert Viking, the developer of a big townhome project in downtown Chandler, has resumed construction after receiving a $10.2 million loan from Wells Fargo. Work stopped last summer. Single-f ... more

Data on industry output, home building boost hopes | 2/18/2010

WASHINGTON - Hopes that the economy can sustain its recovery drew support Wednesday from news that industrial ouput rose for a seventh straight month and home construction hit a six-month peak in Janu ... more

Housing starts rose 2.8 percent | 2/17/2010

WASHINGTON - Housing construction posted a better-than-expected increase in January which pushed activity to the highest level in six months. The solid gain raised hopes that the construction industry ... more

Maricopa County property values drop for 3rd straight year | 2/17/2010

Maricopa County homeowners will begin to receive their latest property valuations in the mail today. Most will see a third straight annual drop in home values. Residential property values fell an ... more

Phoenix OKs $1B solar landfill deal for Tessera in Buckeye | 2/17/2010

Tessera Solar received final approval from the Phoenix City Council to build a solar plant estimated at $1 billion on a city landfill in Buckeye. The Houston company will build a 150- to 200-megawa ... more

Realty is on mend, slowly, fed exec says | 2/16/2010

"Things are beginning to look up in Arizona, as they are for the nation. Still, the Phoenix housing market is nowhere near a return to health." The Tuesday pronouncement came from Janet Yellen, pr ... more

Lennar Diversifies Into Distressed Assets | 2/12/2010

Lennar Corp. may list its occupation as home builder, but its recently announced investment in government-possessed distressed real estate assets unveils what many would say is the company’s true voca ... more

Lennar Acquires Stake in Two FDIC Distressed Loan Portfolios | 2/12/2010

Miami-based homebuilder Lennar Corp. has purchased an interest in two portfolios of distressed loans currently held by the Federal Deposit Insurance Corp. (FDIC) with a combined unpaid balance of $3.0 ... more

Freddie Mac to start buying back bad loans | 2/10/2010

WASHINGTON - Government controlled mortgage finance company Freddie Mac said Wednesday it will buy back an unspecified amount of troubled loans contained in securities it has already sold to investors ... more

Century Plaza becomes One Lexington with ownership change | 2/10/2010

Century Plaza, a high-rise condominium in Phoenix’s Central Corridor, has been re-named One Lexington by the building’s new owners, Lexington Avenue LLP. Lexington purchased the 17-story tower for ... more

Report: AZ tech jobs more stable than U.S. | 2/10/2010

Technology jobs in Arizona are more stable than nationally, according to a report commissioned by Science Foundation Arizona to judge the sector and the group’s impact. The study, conducted by the ... more

December housing starts stronger in Pima, led by D.R. Horton | 2/10/2010

Housing starts in Pima County were surprisingly high in December, largely due to national builder D.R. Horton pulling 60 permits to build new homes. There were 158 new-home permits issued last mon ... more

Significant drop in pre-foreclosures posted in January | 2/9/2010

January's significant drop in pre-foreclosures is the indicator many metropolitan Phoenix housing-market watchers have been anxiously looking for during the past several months. For the first time ... more

Details on $6.6 million land deal in Glendale raise questions | 2/9/2010

A controversial real-estate investor sold Glendale a piece of land for $6.6 million on the same day he bought it for about $5.5 million. The land, which the city previously leased for a youth-spor ... more

Builders Start to Look Up | 2/8/2010

Home builders are looking a lot less bad. And that's good. Fewer write-downs and new-home order cancellations along with improved order rates are some of the most positive signs from home builders s ... more

Cash-Rich M.D.C. Holdings Buys Land | 2/8/2010

M.D.C. Holdings finished the fourth quarter of 2010 with a quarterly earnings performance of $127.2 million, or $2.68 per diluted share. How? The company had all the key metrics moving in the right ... more

5 Questions about Real Estate-Owned Properties | 2/5/2010

Mike Thorell, President and CEO, Pinnacle Bank Time on the job: Less than a year Web: How has Pinnacle Bank been able to keep its real estate-owned portfolio small, consider ... more

By the Numbers: Real estate-owned properties | 2/5/2010

Regional and community banks with a major presence in Arizona have seen their real estate-owned property portfolios skyrocket during the recession. As the real estate market crumbled, banks have fore ... more

Local banks scurrying to find buyers for foreclosed homes | 2/5/2010

Desert Hills Bank is using some nontraditional marketing methods to unload its heavy portfolio of foreclosed properties, which totaled nearly $60 million at the end at the third quarter. Executives ... more

Two Cachet Homes subdivisions in East Valley facing trustee sale | 2/5/2010

Wells Fargo Bank NA filed a notice of trustee sale on two subdivisions being developed by Phoenix-based Cachet Homes: the 25-acre Stratland Shadows parcel in Gilbert and the 5.6-acre Serenity Shores c ... more

Federal grants help get people into homes | 2/2/2010

The housing crisis that rocked Phoenix posed an opportunity for Abla Zumot Najjar. She finally was able to move into a home of her own. She qualified for a $131,900 mortgage loan made possibl ... more

New Master Plan Community Rises in Phoenix | 2/2/2010

For the first time in a long time, a new master planned community is launching in Phoenix. Even more unusual, unlike most new developments that are catering to starter-home buyers, this one caters to ... more

Investors buy Century Plaza condo tower | 2/1/2010

The Century Plaza high-rise condominium tower's new owners are hoping to see the award-winning but financially embattled former office building in Phoenix enjoy the success that has eluded it for near ... more

Gilbert development put on hold again | 1/31/2010

Plans for a 52-acre mixed-use development that was once supposed to be Gilbert’s version of Kierland Commons are on the shelf again. Gilbert Growth Properties, a limited liability company and subsi ... more

Blandford Homes buying up E.V. developed lots | 1/31/2010

Gilbert-based Blandford Homes continues to amass hundreds of fully developed vacant lots across the East Valley, Pinal County and Maricopa that were slated for development by other builders before the ... more

Work begins on professional park | 1/29/2010

Clarius Partners LLC, a Chicago development company, has broken ground on the 60-acre SkyWay 202 Professional Park at the southwest corner of Loop 202 and 40th Street in Phoenix. The first structur ... more

Foreclosure data: Prices are close to the bottom | 1/28/2010

For the first time since the foreclosure crisis began, the price of a Phoenix-area foreclosed home is roughly the same as it was a year ago. Arizona State University professor Karl Guntermann, who ... more

Meritage profit foils analysts' estimates | 1/27/2010

Meritage Homes Corp. ended the year on a positive note, posting a $43.3 million profit, or $1.35 per share, for the fourth quarter, while taking a $66.5 million loss for the year. Analysts had project ... more

Year-over-year home price decline slows | 1/27/2010

Home prices in the Phoenix metro area are declining at more modest rates than they did in 2009. If the trend continues, prices might stop falling and level off. That’s the assessment of the Arizona St ... more

Arizona Real Estate Market Shows Signs of Recovery | 1/27/2010

The Arizona real estate market seems to be on the mend, according to recent data released by Fidelity National Title, a title insurance and escrow service company in Arizona, in partnership with The C ... more

Home prices rise for 6th straight month | 1/26/2010

A closely watched index shows that home prices rose nationally for the sixth straight month in November, with 14 of 20 metro areas tracked showing improvements. The Standard & Poor's/Case-Shiller h ... more

Phoenix home values up 1.1% October to November | 1/26/2010

The latest numbers from the S&P/Case-Shiller Home Price Index show home values rose in the Phoenix area in November of last year while they fell around the country. The average value of a Phoenix-a ... more

Phoenix gets $60M to fight foreclosures | 1/26/2010

Phoenix is making plans to use another $60 million in federal stimulus money to help stem the number of foreclosures in the city. That's on top of $39.5 million from the first program. Kate Kr ... more

Pending home sales, prices on the rise | 1/26/2010

January’s rise in pending home sales is a critical recovery indicator for Arizona’s real estate market, says Mesa analyst Michael Orr. While that indicates prices are likely to increase, the recove ... more

Experts expect permits to rise | 1/26/2010

Metropolitan Phoenix's homebuilding market can only improve after last year's dismal results. The Phoenix Housing Market Letter reports that 8,027 permits for single-family homes were issued in th ... more

California investors keep eye on Chandler Elevation case | 1/25/2010

A group of investors in California is paying close attention to the saga of Elevation Chandler, especially a lawsuit by a man who claims he won the property at a trustee sale for $1 million, a fractio ... more

Tax-lien auction may be lucrative | 1/24/2010

This year's Maricopa County property-tax-lien auction is shaping up to be the biggest ever and potentially more lucrative for investors than others in recent years. It's a prime example of how mise ... more

Treasury Weighs Fixes to Foreclosures Program | 1/21/2010

The Obama administration plans next week to revamp its $75 billion program aimed at sparing homeowners from foreclosure, streamlining the documents required of borrowers seeking lowered payments, acco ... more

Planned office park could employ 9,000 | 1/21/2010

Plans are afoot to transform the 152-acre former Motorola site on Chandler's Price Road technology corridor into a large office park called Continuum, capable of employing up to 9,000 people, accordin ... more

What Arizona can learn as Chile joins the OECD | 1/20/2010

On January 11, Chile was officially invited to join the Organization of Economic Cooperation and Development (OECD). Chile will be the OECD’s 31st member and its first from South America. The OECD is ... more

New housing permits in Gilbert rebounded in 2009 | 1/20/2010

After several years of sharp declines in the housing market, Gilbert in 2009 saw positive growth in new-home permits for the first time since 2004. The sounds of nail guns and hammers can be heard ... more

44 Monroe luxury condos in Phoenix on the road to foreclosure | 1/19/2010

Most of the units in 44 Monroe, the swank, 196-unit luxury high-rise could be headed for foreclosure. The bank has filed a notice of trustee's sale, the first step toward taking over 182 unsold condos ... more

6 Ways For Builders to Beat REOs | 1/19/2010

Selling homes effectively against foreclosures has become many a builder’s quixotic quest in the last year. Buyers want a bargain, and with the median price of existing homes standing at $172,400 vers ... more

NAHB Forecasts 754K Housing Starts by 4Q10, 1.22M by 4Q11 | 1/19/2010

The pace of housing starts will speed up this spring, slow and perhaps reverse course at mid-year, and then re-accelerate next winter and into 2011, the National Association of Home Builders' chief ec ... more

Frugality is the new housing trend in the West Valley | 1/15/2010

Jim Cramer, a retired mechanical engineer, was looking for a new home in Glendale. What he got was a Spanish Colonial compound that stretches over two lots and includes guest quarters, a pool and a ... more

'09 sales pace driven largely by foreclosures | 1/15/2010

Lenders in 2009 foreclosed on about 41,000 single-family detached homes in Maricopa County, according to a report from Arizona State University. That's more foreclosures than the Valley has seen durin ... more

HUD Provides FHA Financing for Foreclosed Properties | 1/15/2010

Shaun Donovan, secretary of the US Department of Housing and Urban Development (HUD), will temporarily permit buyers to use FHA-insured financing to purchase real-estate owned (REO) property to stave ... more

KB Home posts $100.7M profit for Q4 | 1/13/2010

LOS ANGELES - KB Home capped its fiscal year with the first quarterly profit since 2007, thanks to a change in federal tax laws, and said it expects to turn a profit by the end of the year. KB Home ... more

KB Home posts $100.7M profit for Q4 | 1/12/2010

LOS ANGELES - KB Home said Tuesday it turned a profit in its fiscal fourth quarter, the first time since early 2007, as the homebuilder benefited from a new tax rule that allowed it to offset past los ... more

Pulte Homes pushes solar in effort to energize sales | 1/12/2010

Pulte Homes is hoping to invigorate home sales and reach a milestone in the mass production of solar homes at two of its age-restricted Del Webb communities in Arizona. As of Jan. 1, Pulte began of ... more

In Valley, 80 mil square ft. of business space is vacant | 1/11/2010

The Valley's real estate boom-and-bust cycle left an almost unimaginable 80 million square feet of excess office, retail and industrial space on the rental market at the close of 2009 - the rough equi ... more

Tempe Centerpoint towers in foreclosure | 1/11/2010

The empty Centerpoint high-rise condominium towers that loom over Tempe, once a symbol of the city's downtown residential boom, have fallen into foreclosure. A foreclosure auction date is set for A ... more

CityNorth projects all had troubled launches | 1/10/2010

At the $300 million CityNorth development in northeast Phoenix, parking spaces are plentiful along the Main Street equivalent known as High Street. On a recent weekday, a handful of shoppers strol ... more

Phoenix Market Shows Signs of Life | 1/8/2010

Phoenix home sales volume declined from October to November and foreclosure resales continue to hold a majority of transactions in the Arizona metropolitan statistical area (MSA). A total of 8,544 n ... more

10 Companies to Watch in 2010 | 1/7/2010

Recessions have a way of separating winners from losers. And as the housing market inches closer to recovery, indications about which companies are likely to survive or fail become clearer. Some co ... more

'09 wasn't all bad for housing, but here's to gains in '10 | 1/6/2010

There's no doubt that 2009 was a horrible year for metropolitan Phoenix's real-estate market. What most people hope is that it will be the worst year ever recorded and that 2010 will be better. ... more

Phoenix streamlines development process | 1/6/2010

The Phoenix City Council recently approved several programs aimed at streamlining the development process. The approvals include expansion of the Adaptive Reuse Program, a self-certification program f ... more

Top 10 Home Building Stories of the Decade | 1/5/2010

The home building industry, suffice it to say, went on a wild ride during the last decade, setting modern-era records for production and losses. As the decade ended, it was almost as if we were back w ... more

Much at stake for Arizona in census | 1/3/2010

A few years ago, it seemed obvious Arizona would be among the biggest winners in the 2010 census. The state seemed poised to gain two additional congressional seats, as it did in the 2000 census, a ... more

Arizona's road to recovery mapped out | 1/1/2010

As Arizona enters its third year of recession, recovery remains elusive. Despite its increasing diversification, Arizona's economy needs new residents to fill all the empty houses. It needs tourist ... more

Housing market up slightly, but outlook for 2010 murky | 1/1/2010

A year ago, Phoenix snagged unwanted attention for leading the nation in home value depreciation. That was the assessment of the S&P/Case Shiller Home Price Indices in December 2008. Then in early ... more

An expanded housing lifeline | 12/31/2009

WASHINGTON - The government's Christmas Eve pledge of unlimited financial aid to mortgage giants Fannie Mae and Freddie Mac is aimed at making sure the housing market doesn't take another turn for the ... more

Top Home Building Stories for 2009 | 12/31/2009

2009 will go down in history as the worst year for housing production since World War II, when the nation purposely diverted resources from building homes toward the war effort. But builders may reme ... more

November home sales soar 7.4 percent | 12/22/2009

WASHINGTON - Home resales surged to the highest level in nearly three years, reflecting an extraordinary level of federal support that has pulled the housing market back from the worst downturn since ... more

Condo-tower developer proposes new Scottsdale project | 12/21/2009

The developer of Optima Camelview Village, with its greenery and contemporary design, unveiled plans this week for a similar seven-story condominium complex at 68th Street and Camelback Road. Arch ... more

Arizona's unemployment rate falls to 8.9% | 12/18/2009

Arizona's employment and unemployment numbers improved significantly in November, offering the state most battered by job losses hope that the labor markets are starting to recover. The unemployme ... more

Ritz-Carlton opens in Southern Arizona | 12/18/2009

They’re puttin’ on the Ritz in Marana. Friday marked the opening of the Ritz-Carlton Dove Mountain in Marana, just northwest of Tucson. The 250-room luxury hotel, located on 850 acres, features a Ja ... more

ASU Repeat Sales Index: Home prices picking up | 12/17/2009

The latest housing market research from Arizona State University shows Phoenix-area home prices are rising. The ASU Repeat Sales Index (ASU-RSI) shows home prices fell 23 percent from September 2008 ... more

$57M orthopedic hospital planned for site near Sky Harbor | 12/17/2009

United Surgical Partners International Inc. is beginning construction this week on $57 million orthopedic specialty hospital that will employ 140 people when it opens in January 2011. The 71,000-squ ... more

Valley median existing home price rises | 12/17/2009

The latest Arizona State University-Repeat Sales Index shows the Valley's median existing home price increased for the seventh straight month, reaching $130,000 in September compared to $126,500 in A ... more

Two major downtown Phoenix developments get go-ahead from city council | 12/16/2009

Two new hotel brands now call Downtown Phoenix home, after Phoenix City Council approved separate development deals paving the way for the properties. Council members OK'd one deal One Central Park ... more

Construction of new homes rebounds | 12/16/2009

WASHINGTON - Construction of new homes, helped by better weather, rebounded in November following a setback in the previous month. The gain is a hopeful sign that the housing recovery is continuing, ... more

Housing starts surge in November; consumer prices tame | 12/16/2009

WASHINGTON — Construction of new homes, helped by better weather, rebounded in the U.S. in November following a setback in the previous month. The Commerce Department said construction of new homes a ... more

Loop 202 could find a new path | 12/16/2009

The controversial South Mountain Freeway could move onto tribal land if recent behind-the-scenes negotiations gather momentum. The Gila River Indian Community, which long has opposed the Loop 202 e ... more

Loop 202 could find a new path | 12/16/2009

The controversial South Mountain Freeway could move onto tribal land if recent behind-the-scenes negotiations gather momentum. The Gila River Indian Community, which long has opposed the Loop 202 e ... more

Landlords carry burden of struggling to fill rental units | 12/15/2009

Renters are getting a break, but job losses, home foreclosures and Arizona's employer-sanctions law have hurt Valley apartment operators. Rental prices are down as landlords struggle to fill their ... more

The Case for Optimism on the Economy | 12/15/2009

The U.S. economy is digging itself out of a deep hole. You have probably heard a lot of doom and gloom lately, including talk of a jobless recovery, an L-shaped recovery (which means no recovery at al ... more

Big Builders Form New Group | 12/15/2009

The country’s largest home builders have decided to establish a new trade association separate from the National Association of Home Builders. Called the Leading Builders of America, the new organi ... more

Copper-mine land swap moves closer to reality | 12/15/2009

WASHINGTON - Democrats and Republicans on the Senate energy committee confirmed Monday that they have reached a compromise on a controversial federal land swap that could lead to the development of No ... more

Capitol Bancorp receives OK to consolidate Arizona banks | 12/14/2009

Capitol Bancorp Ltd. has received the go-ahead to consolidate six affiliate banks in Arizona: Arrowhead Community Bank, Asian Bank of Arizona, Camelback Community Bank, Colonia Bank, Mesa Bank and Su ... more

Court considers plan for condo tower | 12/14/2009

The fate of the multicolored Summit at Copper Square condo tower near Chase Field now lies in the hands of an Illinois bankruptcy court judge. In October, the building's owners sought Chapter 11 b ... more

Can home market bounce back without more help? | 12/13/2009

Colleen Wells heard the housing market was supposed to be picking up, so she felt optimistic when she put her 60-acre farm in Ocala, Fla., up for sale early this year. When no one bought the farm at ... more

Power corridor of knowledge, possible jobs | 12/12/2009

Power Road has long been considered the spine of east Mesa and is a crucial artery for traffic heading up through Gilbert from Queen Creek and San Tan Valley. Widening planned for Power Road stretch ... more

Widening planned for Power Road stretch | 12/12/2009

Gilbert, Mesa and Maricopa County are getting ready to complete the transformation of Power Road from a concrete ribbon between farms into an urban throughway between malls and an airport. The 2.7 ... more

'Communiversity' to bring higher ed to Q.C. | 12/11/2009

Higher education is coming to Queen Creek. The town has reached an agreement with the Maricopa County Community College District to put a "communiversity" in Queen Creek, with an opening date expect ... more

Jump Start | 12/10/2009

In its production office, Eagle Construction of Va. keeps a "countdown" chart that tracks what this Glen Allen, Va.–based builder needs to accomplish to finish the year in the black. "We're getting c ... more

Westcor plans for Goodyear mall delayed at least through '14 | 12/10/2009

Plans for a regional mall in Goodyear are officially on hold. The City Council has approved developer Westcor's request to extend the construction deadline through at least the end of 2014, and pos ... more

Forecast for Phoenix real estate | 12/8/2009

Here are some key data and predictions from the event “Real Estate: Evolution of an Industry.” The final tally for home building permits in the Phoenix area this year will be about 8,800, which is ... more

Condo rules could shut out buyers, hit builders | 12/7/2009

New lending rules for condominium buyers are already forcing some developers to change or scrap plans for new projects for fear too many buyers will be shut out. On Monday, the Federal Housing Admin ... more

AmTrust Bank assets seized by FDIC, bought by New York Community Bank | 12/5/2009

AmTrust Bank customers have been moved over to New York Community Bancorp after federal regulators seized the bank’s assets Friday. The bank, which was based in Cleveland, had 12 branches in Arizona ... more

Shea, KB, Ashton Woods lead home-builder rankings | 12/4/2009

Shea Homes, KB Home and Ashton Woods topped a 2009 J.D. Power and Associates for Valley builders. Shea was first with a score of 903 on a 1,000-point scale that evaluates a builder's workmanship, hom ... more

Airpark's real estate slump seems to be bottoming out | 12/4/2009

Scottsdale Airpark's real estate slump is bottoming out and vacancy rates will begin to stabilize early next year, according to Jim Keeley of Colliers International. Employment in the Airpark has fa ... more

Toll Bros. loses $111 million in Q4, but sees hope | 12/3/2009

HORSHAM, Pa. - Toll Brothers Inc. lost $111.4 million in the fiscal fourth quarter, but the homebuilder is seeing signs of a turnaround in the . The firm's loss of 68 cents a share was largely due t ... more

Commuter-rail system envisioned for Valley | 12/3/2009

Enough people would board a train in the Valley's suburbs that a future commuter-rail system would be as popular as some of the busiest lines in the West, new studies have found. A trio of yearlong ... more

Out in suburbs, pair finds solitude amid vacant lots | 12/3/2009

Roy and Lisa Hoskins live on the outskirts of town and right in the heart of the housing free-fall. In normal times their three-bedroom, 2,500-square-foot home really wouldn't stand out. But then aga ... more

Shares of homebuilders rise on pending home | 12/2/2009

NEW YORK - Shares of homebuilders ticked higher Tuesday as contracts to buy previously occupied homes rose for a ninth straight month. The surge in sales reflects homebuyers' rush to buy before the ... more

Ariz. lawmakers hit reset button on loan lawsuits | 12/1/2009

PHOENIX - Arizona legislators responded quickly last June when bankers complained that investor-builders were abusing a post-foreclosure protection intended for homeowners. Within 23 days, a bill to ... more

AmTrust Financial Files for Bankruptcy in Cleveland | 12/1/2009

Dec. 1 (Bloomberg) -- AmTrust Financial Corp., owner of the Cleveland-based AmTrust Bank that expanded rapidly into Florida and Arizona, filed for bankruptcy, blaming investments in home loans that l ... more

Fast moves help builders battle slump | 11/27/2009

Long exposure to the market's brutality has whipped executives at two publicly owned homebuilders into a business-casual Delta Force. Meritage Homes Corp. and Pulte Homes Inc., both publicly traded c ... more

Sales of new homes forecast to rise 2 percent | 11/25/2009

WASHINGTON - Sales of are expected to post a modest increase in October, reinforcing data this week that showed the real estate market is regaining its footing after a dramatic collapse. The report ... more

Median sale price of homes in Phoenix area is slowly rising | 11/25/2009

Phoenix-area home values continued a gradual ascent toward 2008 prices in October, with the median down just 20 percent from a year earlier, according to preliminary same-home sales data from Arizona ... more

Recession pushes back Loop 303 timeline in West Valley | 11/24/2009

Surprise hopes for a destination retail and commercial corridor on its Loop 303 frontage. Glendale, and Peoria largely seek an employment base. All four West Valley cities look to Loop 303 as a cata ... more

Home prices rise for 4th month in a row | 11/24/2009

WASHINGTON - Home prices rose slightly in September, the fourth straight monthly increases and a clear sign that the housing market's recovery is continuing. The Standard & Poor's/Case-Shiller home ... more

Phoenix home market showing signs of stability | 11/24/2009

Phoenix Business Journal The single-family home market is showing signs stabilization, but the condo and townhouse markets continues their death spiral. That’s the latest assessment by Arizona State ... more

D.R. Horton Plots Market Domination | 11/20/2009

D.R. Horton logged the first year-over-year quarterly sales increase since March 2006 in its fourth quarter, leading CEO Donald Tomnitz to suggest that the worst is over for the Texas-based public bu ... more

Urban Land Institute study: Phoenix kept its population despite | 11/18/2009

The purported economic demise of the Phoenix metro area is greatly exaggerated, as are claims that the population has dropped by hundreds of thousands people. That’s the assessment of a new study re ... more

America's Newest Land Baron: FDIC | 11/17/2009

ATLANTA -- In the waning days of the Great Recession, the federal government is still jumpstarting the economy and propping up financial markets. It is also trying to sell Dresden Heights, a failed ... more

Study: Home building on rebound in Phoenix area | 11/17/2009

Home starts are rebounding in the Phoenix metro area, according to a report released Monday by Metrostudy, a data collection firm based in Houston with offices in Phoenix. Home builders in the Valle ... more

Westcor asks to delay Estrella Falls shopping-mall project | 11/16/2009

Mall developer Westcor wants to delay construction on the southwest Valley's first regional mall by several years. This is the third time the developer has delayed the project. But this time, West ... more

Toll Brothers Jumps as Luxury Home Orders Surge 42% | 11/11/2009

Nov. 11 (Bloomberg) -- Toll Brothers Inc., the largest U.S. luxury homebuilder, gained the most since 1992 after orders surged 42 percent in the fiscal fourth quarter, cancellations slowed and reven ... more

FHA Moves to Boost Condo Market | 11/11/2009

Nov. 11--The Federal Housing Administration is giving the condo market something it hasn't had for a while -- a little breathing room. Last week, the FHA, the federal agency that insures low-down-pa ... more

Banks Hasten to Adopt New Loan Rules | 11/11/2009

Banks are moving quickly to restructure commercial mortgages under new U.S. guidelines that are more forgiving of battered property values and can help banks avoid bigger losses. Citigroup Inc., reg ... more

Officials: Demand for Cave Creek Walmart underestimated | 11/10/2009

A landslide victory for in Cave Creek's election surprised the town's top officials, who described the record turnout as "overwhelming." Voters supported the retailer 3-to-1 in last week's election, ... more

$25M spent so far on Heritage District | 11/7/2009

Gilbert spent at least $25 million including state and federal funds over the last decade in upgrading and dressing up its Heritage District downtown, an amount officials and business owners say was ... more

Shea Homes gets SRP designation for energy efficiency | 11/6/2009

Shea Homes has received a PowerWise Homes designation from Salt River Project, a recognition of the company’s increased methods of conserving energy. The program was developed by SRP in compliance w ... more

$8,000 homebuyers tax credit | 11/6/2009

President Obama reups popular tax credit through June 2010 and expands it to include people with higher incomes and some who want to trade up into new homes. ... more

Builders May Receive Cash Infusion From New Tax | 11/6/2009

While home buyer tax credit provisions received most of the attention, legislation passed by Congress yesterday also contains a generous tax provision that may give some midsized and large home build ... more

William Lyon Homes Shrinks Loss | 11/6/2009

William Lyon Homes has managed to shrink itself down to bare bones, narrowing its losses to $11.6 million versus $41.1 a year ago, even as it has whittled down the number of its active communities by ... more

Homebuilders hunting for land again | 11/6/2009

LOS ANGELES - The housing bust left homebuilders with plenty of red ink on their books as they walked away from swaths of land they no longer needed. But now homebuilders are on the hunt again, vyi ... more

Home buyer tax credit extended, expanded | 11/5/2009

The House of Representatives passed legislation Thursday that would extend and expand the tax credit for first-time home buyers. The provision was included in a bill that also extends unemployment be ... more

Commercial mortgage lending down 54% | 11/5/2009

Commercial and multifamily mortgage lending in the U.S. fell 12 percent from the second quarter to the third quarter and is down 54 percent from year ago levels, according to the Mortgage Bankers Ass ... more

Builders Applaud Congress on Extending Home | 11/5/2009

November 5, 2009 - The National Association of Home Builders (NAHB) today applauded Congress for passing legislation that will extend and expand the $8,000 first-time home buyer tax credit, stating t ... more

Unseasonably high home sales in October linked to tax rebate | 11/5/2009

A last-minute rush to cash in on the federal government's tax-rebate program for first-time homebuyers probably kept Valley home sales unseasonably high in October, local real-estate agents and analy ... more

Congress giving homebuyers $6,500 tax break | 11/5/2009

WASHINGTON - Buying a home is about to get cheaper for a whole new crop of homebuyers - $6,500 cheaper. First-time homebuyers have been getting tax credits of up to $8,000 since January as part of th ... more

Why This Real Estate Bust Is Different | 11/5/2009

When Goldman Sachs (GS) sold complex bonds backed by the Arizona Grand Resort and other commercial properties in 2006, it suggested the returns would be strong. The 164-acre luxury Arizona Grand, set ... more

Tax credit extension thrills E.V. homebuilders | 11/5/2009

Area homebuilders received welcome news Wednesday that the federal first-time homebuyer tax credit is being not only extended but expanded to include buyers who already own homes. President Barack O ... more

Cubs owners scout potential sites for new spring training facility | 11/4/2009

City officials, private landowners, developers and members of the Cactus League gave the new owners of the Chicago Cubs a bird’s-eye view and walking tours of potential sites for a new spring trainin ... more

Cave Creek OKs Walmart, incumbents win Phoenix races | 11/4/2009

Cave Creek voters approved ballot measures Tuesday that will clear the way for a Walmart Supercenter to be located in the northern Phoenix suburb. Three out of four voters in Cave Creek supported Pr ... more

Pulte-Centex Merger Nets Synergy Savings | 11/4/2009

Pulte Homes’ merger with Centex in August makes it difficult to compare how the company performed in its third quarter this year versus last. There were tons of merger costs, and adding the two compa ... more

192,000 SF Signed in CBD Office | 11/3/2009

PHOENIX- The U.S. Army's new 2,404-square-foot recruiting office is close to Arizona State University's School of Nursing, while Central Parking Systems, which took 1,755 square feet in the building ... more

Phoenix housing starts increasing | 11/3/2009

New research from Metrostudy shows housing starts in the Phoenix area have grown through the first three quarters of 2009, but still lag last year’s pace. Reduced inventories of new and existing hom ... more

M.D.C. Holdings Buys Land Again | 11/2/2009

M.D.C. Holdings, parent company of Richmond American Homes, is buying land again. That might seem like non-news, since almost all the public home builders have announced recently that they’re out sh ... more

REALTY STUDIES - November 2009 - RESALE HOME MARKET | 11/1/2009

Resale housing activity in November followed the historical trend of lower activity as the year ends with 8,335 recorded transactions in contrast to 9,955 sales for October 2009. However, it was well ... more

LDS church could play role in W. Valley development | 10/31/2009

As Luke Air Force Base fights to be named a training hub for the new F-35 Joint Strike Fighter, an unlikely player could have a significant impact on the long-term viability of the base and the Loop ... more

Meritage Homes Predicts Profitable 2010 | 10/29/2009

With $347 million in cash on hand, Meritage Homes is on a shopping spree, replenishing its low land inventory with lots priced low enough to help the company meet its goal of turning profitable in 20 ... more


Buckeye – Millbroad Investments LLC, a company formed by RBR Capital LLC in Scottsdale (Ryan Miller, member) paid $541,000 to purchase 46 finished lots within the Rancho Vista community in Buckeye. Th ... more

Economic Research | 10/13/2009

Glenn D. Rudebusch, senior vice president and associate director at the Federal Reserve Bank of San Francisco, states his views on the current economy and the outlook: ... more

Worst may be over for housing in the Valley | 10/10/2009

Valley homeowners have watched their property values plummet with a sense of shock and horror during the past year. But the gut-wrenching drop could be over as early signs of the market finally hitti ... more


Phoenix – BMR Holdings LLC, a company formed by Perry Mathis of Cason Tyler Communities in Phoenix, paid $1.19 million to acquire 56 finished lots within the Baseline Mountain Ranch subdivision in Sco ... more

Single-family home building rises for 5th month | 8/18/2009

WASHINGTON - Construction of single-family homes rose 1 percent in July, the fifth-straight monthly increase as builders poured foundations at the fastest pace since last October, the Commerce Departm ... more

U.S. mortgage rates rise to 5.29% | 8/18/2009

Mortgage rates in the U.S. rose this week, increasing consumer borrowing costs and potentially threatening gains in home sales. The average 30-year rate climbed to 5.29 percent from 5.22 percent, mort ... more

Homebuilder sentiment index rises in August | 8/17/2009

NEW YORK - The National Association of Home Builders says its housing market index rose in August to the highest point in more than a year. The Washington-based trade association said Monday the index ... more

Two Valley banks head to receivership | 8/14/2009

The FDIC said Community Bank of Arizona in Phoenix was shut down by the Arizona Department of Financial Institutions and that Oklahoma-based MidFirst Bank agreed to take over its accounts. The FDIC al ... more

Arizona's Budget Breakthrough | 8/11/2009

and New York. Today, the legislature in Arizona will vote on a tax reform designed to entice more employers and high-income taxpayers to the state. Sponsored by Republican Governor Jan Brewer, the pla ... more

Taylor Morrison launches 'Total Assurance' program for homebuyers | 8/11/2009

Scottsdale-based Taylor Morrison unveiled a homebuyers assurance program Monday, offering a refund of a homebuyer's down payment -- up to 10 percent of the original purchase price -- should the home d ... more

Entrepreneur magazine ranks Phoenix among top 10 U.S. cities to start a business | 8/10/2009

The August issue of Entrepreneur magazine features its editors' take on the 10 best cities in which to start a business, and Phoenix makes the grade. ... more

Where real estate seems to be hitting bottom | 8/10/2009

There's more to indicate that the housing recession has hit bottom than Thursday's dual announcements that housing starts rose 1.5 percent from July, and new jobless claims dropped by 12,000 last wee ... more

Worst may be over for housing in the Valley | 8/10/2009

Valley homeowners have watched their property values plummet with a sense of shock and horror during the past year. But the gut-wrenching drop could be over as early signs of the market finally hitti ... more

Welcome to the bottom: Housing begins slow rebound | 8/8/2009

It was - note the past tense - the worst housing recession anyone but survivors of the Great Depression can remember. From the frenzied peak of the real estate boom in 2005-2006 to the recession's tro ... more


Gilbert – Highland Homes in Mesa (Mark Pugmire, Grant Lane, principals) plans to build 157 residences within a community in Gilbert called Higley Park. The property is northeast of the northeast corne ... more


Tolleson – Tolleson Holdings LLC in Phoenix (Peter Fratt, Justin Ferrandi, Tracy Glass, principals) paid $315,000 ($9,000 per lot) to acquire 35 finished homes sites within a partially completed subdi ... more

CDC Reinstates Hib Booster Dose | 6/11/2009 9:34:23 PM

Effective immediately, a Hib vaccine booster dose at 15 months of age has been reinstated by the CDC. For the past 2 years, there has been a nationwide shortage of the Hib vaccine (hemophilus influenz ... more