Is it time to buy? Some say YES! A Bubble or a Value?

The first article, Roads are clogged on Valley's edges, from the Arizona Republic, reports that Pinal County has just completed its Small Area Transportation Study that gives recommendation to alleviate the traffic problems facing this booming market area. The study will be a blueprint to guide Pinal County planning for the next 20-years. Two of the more congested areas of Pinal County are the Hunt Highway area south of Queen Creek and the Maricopa-Casa Grande Highway. The study predicts that these areas will be at maximum vehicle capacity in the coming years unless they are expanded and additional roads are built. The study suggests transit options like park-and-ride facilities, bus service and commuter rail service. It recommends hundreds of miles of road improvements, including expanding many of the county's two-lane state highways to six lanes, at a cost of about $1.56 billion. Engineering studies for the county's high-priority roads will begin soon and will lead to road construction beginning in about 18 months.

http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/arizonarepublic/local/articles/0923pinaltransportation0923.html

The second article, West Mesa on the rebound, from the East Valley Tribune, reports that West Mesa, one of the more depressed areas of Mesa, is in a transition mode with nearly $1 billion worth of projects planned, under construction or newly completed. Those projects include new retail developments such as the Riverview shopping center at Dobson and Eighth Street, redeveloping sites such as the Broadway 101 commercial center at the former Motorola site and institutional projects such as the new Banner Children's Hospital at Dobson and Southern. There are even some infill residential projects such as the El Pedrigal condo development on North Alma School Road. The area has a great location close to freeways and light rail service. "It's location, location, location, " said Teri Killgore, Mesa's interim economic development director. "People are going back and looking at centrally located older parts of town. It makes economic sense."

http://www.eastvalleytribune.com/index.php?sty=74888

The third article, A bubble Or a Value?, from Motley Fool, reports on the national housing market and the inventory glut facing homebuilders nationally. The article suggests that the glut of inventory homes may not be as large from a historical perspective, citing that the number of homes on the market at the end of July was 568,000, about a 6.5 month supply. That's lower than the 11.6 months supply back in April 1980, or the 9.4 months supply in January 1991. The article says since supply is by no means excessive and the key to what happens next lies with buyer behavior. Personal incomes are rising at the fastest pace in six years, and with falling home prices and still low interest rates, homebuyers still have the ability to purchase. The article summarizes by saying that the housing market still looks pretty sound, notwithstanding this period of softness. With the big discounts builders are offering, now is the time for buyers to make their move and get off the sidelines.


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