May 31, 2020

The Governor’s Office is providing nearly $600 million in coronavirus relief and recovery dollars for local Arizona governments and nonprofits as part of a funding plan announced today by Governor Doug Ducey. The plan includes $441 million in direct, flexible funding to

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Two more Valley casinos have announced they will reopen at a limited capacity and with added health precautions in place next week after being closed for more than two months because of the Covid-19 pandemic. Casino Arizona and Talking Stick Resort, both located just east of Scottsdale

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Metro Phoenix’s housing market slowed quickly in the early days of COVID-19 but is showing signs of bouncing back. New listings and home sales cancellations climbed in March when many homeowners and homebuyers were worried about making mortgage payments as unemployment soared

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Phoenix planning officials next week are scheduled to weigh a proposal by a real estate developer to build a single-family residential rental home project in Camelback Ranch. The Empire Group of Companies, based in Scottsdale, Arizona, filed plans in March to build 194 single-family

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Award-winning real estate development firm, Optima, and joint venture partner, Principal Real Estate Investors, announced today that a new luxury apartment tower, 7140 Optima Kierland, is coming soon to Optima Kierland Center in North Scottsdale. Registration is now open for the VIP

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May 28, 2020

The Phoenix market has officially opened for business, with all retailers allowed to serve customers. While some retailers have decided to stay closed or offer only limited service by their own choice, most are completely open and actually seeing activity from consumers. While there are no

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The Governor’s Office is providing nearly $600 million in coronavirus relief and recovery dollars for local Arizona governments and nonprofits as part of a funding plan announced today by Governor Doug Ducey. The plan includes $441 million in direct, flexible funding to local cities, towns and counties

Read The Full Article...

Phoenix planning officials next week are scheduled to weigh a proposal by a real estate developer to build a single-family residential rental home project in Camelback Ranch. The Empire Group of Companies, based in Scottsdale, Arizona, filed plans in March to build 194 single-family, for-rent

Read The Full Article...

Metro Phoenix’s housing market slowed quickly in the early days of COVID-19 but is showing signs of bouncing back. New listings and home sales cancellations climbed in March when many homeowners and homebuyers were worried about making mortgage payments

Read The Full Article...

Low mortgage interest rates continue to fuel a surge in refinance activity amid the coronavirus pandemic, resulting in record-breaking loan volume for lenders over the past two months. Rates continued their downward spiral in April to 3.48%, down from 3.65% in March. Mortgage software giant Ellie Mae

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May 27, 2020

Cabin fever is a real thing. And you don’t have to live in a cabin to get it. With everyone chomping at the bit to get back to “normal,” I thought it would be useful to check in on the five metrics I previously identified as signals for the beginning of the economic recovery stage that I have been calling

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The city of Buckeye got bumped from the top spot for population growth rate in 2019, but its 56.6% population increase since 2010 was still enough to make it the second-fastest growing city in the nation for the decade. New city and town population estimates released Thursday by the Census Bureau show

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Department stores already faced a difficult business environment before the coronavirus pandemic in Arizona, but big anchor stores say they are ready to welcome back customers with enhanced emphasis on cleaning and social distancing. That is, they are welcoming back customers at the stores

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The nation’s 8,700 Opportunity Zones, including 168 in Arizona, expect to play a significant role during a post-Coronavirus recovery in the coming months and continue the gains made prior to the economic storm that has enveloped the country this spring, White House officials said during a program

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Retail construction sunk to a two-decade low in the first quarter of 2020, with just 400,000 square feet completed in 80 metro areas, according to a report from Moody’s Analytics Real Estate Information Services. The retail figures were down 70% from the fourth quarter of 2019 and represented the lowest numbers

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May 26, 2020

Many lenders that hit the pause button on new originations at the start of the pandemic are stepping back into action, albeit with a more conservative playbook than they had at the start of the year. One big difference: lenders have new requirements

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Supermarket chains and other grocery retailers in Arizona aren’t preparing for the reopening of the economy like a lot of other businesses. That’s because food stores already had to make significant adjustments on the run, as they never shut down during the coronavirus

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Leading the nation once again in home price gains, Phoenix appears to be immune to Covid-19.At 8.2%, Phoenix reported the highest year-over-year gains during March, according to the S&P CoreLogic Case-Shiller Indices, at a time when the national year-over-year

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About a month after the US lockdowns for the pandemic began, Morgan Stanley CEO James Gorman told Bloomberg Television that it had become clear to him that the firm could operate with “much less real estate.” The productivity of Morgan Stanley’s hastily-assembled remote

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Everything that Valley Partnership is involved with is part of its pursuit of a mission, which is to be the premier advocacy group for responsible development in Arizona. As an organization, Valley Partnership represents the commercial, industrial, multi-family

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May 24, 2020

The Urban Land Institute’s latest Real Estate Economic Forecast shows that, while the COVID-19 crisis has sent shockwaves throughout the world, U.S. real estate economists are predicting some light at the end of the tunnel, with a short-lived recession

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National rent growth is beginning to show signs of weakness, with April rent growth increasing only 1.6 percent year-over-year. According to a Yardi Matrix report of 127 markets, national rent growth has reached its lowest point since October 2017

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One in three Arizonans doesn’t believe there is enough affordable housing in their communities, according to a new ASU Morrison Institute-Arizona Republic poll. Some 40% of 813 residents polled in late April and early May are satisfied there is enough

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Scottsdale-based Greenlight Communities has broken ground on an 89-unit community, Cabana on Hayden, which will offer Scottsdale residents brand new, affordable and centrally located rental homes. Cabana on Hayden is located at Hayden Road and Oak Street, with construction

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Until about three months ago, it was basically unthinkable that interest rates would ever fall below their record low of 3.31%, which was set in November 2012. But then the coronavirus happened. And as the virus was wreaking havoc on the world and its economy, interest rates not only broke that record

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