The first article, How will the USA cope with unprecedented growth?, from the USA TODAY, reports that the USA is growing faster than any other industrialized nation in the world and is expected to add 100 million more people around 2040. The next 100 million people will create 73 million new jobs, about 70 million new homes and 100 million square feet of non-residential space, according to the Metropolitan Institute at Virginia Tech. The article discusses where all these new residents will live and the growth patterns that will come into play. Urban town centers was one of the growth trends discussed, so that people can work closer to where they live. Redeveloping brownfield sites, promoting infill development, going vertical and increasing rail lines and transit villages were also cited. The article states that the percentage of American households that will want and will get their single-family detached house on a lot will remain high.
http://www.usatoday.com/news/nation/2006-10-26-100-million_x.htm?POE=click-refer
The second article, Luxury-home sales soar around Valley, from the Arizona Republic, reports that luxury homes are selling well and at higher prices across the Valley. There has been a sharp spike in the number of million-dollar properties sold since 2000, but the bigger story is the increasing number of deals for $3 million, $5 million and much higher. Land is a key piece of the price equation. With land prices rising and larger, more elaborate houses set in super-elite areas, the entry level for luxury in now more like $3 million. Many of the most desired areas are built out or have few available lots. There were 440 sales of houses costing at least $1 million in 2000. Through Oct 10th this year, there were 2,031, an increase of more than 360 percent.
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/arizonarepublic/news/articles/1030luxury1030.html

Who are you gonna believe? Don't end up in the land of missed opportunities!

The first article, Existing home sales keep falling, from MSNBC.com, reports that in further evidence of a sharp slowdown in the once-booming housing market, sales of existing homes nationwide fell for the sixth straight month in September and the median price dropped by a record amount. Sales fell by 1.9 percent in September and the median price of a single-family home fell to $219,800, a drop of 2.5 percent from the price in September 2005, according to the National Association of Realtors. "The worst is behind us as far as a market correction-- this is likely the trough for sales," said David Lereah, NAR's chief economist. "When consumers recognize that home sales are stabilizing, we'll see buyers who've been on the sidelines get back into the market," he added. Other economists are not as optimistic. "The housing slowdown is just over a year old. It probably has another year to run," said Patrick Newport, U.S. economist at Global Insight. "The market will probably not turn around until at least the second half of 2007."

http://www.msnbc.msn.com/id/15412842/

The second article, Is housing out of the woods?, from MSNBC.com, reports that a recent stream of encouraging data has some prominent economist changing their tune about the housing market. One of the first was Alan Greenspan, who said on October 7th that "the worst may well be over." A growing number of economist and analysts have come around to the ex-Fed chief's view. "The point of maximum deterioration in housing activity has probably passed," says Jan Hatzius, chief economist at Goldman Sachs. Others maintain that the housing downturn still has a long way to go. In an Oct. 9th speech, San Francisco Fed President Janet Yellen painted a gloomy picture. Yellen spoke of a major homebuilder who calls Phoenix and Las Vegas "the new ghost towns of the West." According to Yellen, price cuts "appear inevitable." Others are taking more of a middle of the road approach, saying that while the housing slowdown has a way to go, the declines may be fading somewhat.

http://www.msnbc.msn.com/id/15416909/


The third article, Cooldown catching up with builders, from the Arizona Republic, reports that homebuilders revenues and profits are down, and slower sales and cancelled deals are pressuring builders to start layoffs and unloading or revaluing land they bought in the housing boom. Pulte said Wednesday that third-quarter income fell by more than 50 percent. Meritage Homes cancellation rate hit an all-time high at 37 percent. The latest new-home data from analyst RL Brown shows a market seeking, but not yet finding a bottom. "We're bumping along the bottom," he said. "The builders are kicking it in the tail, marketing their inventory. When you cut a $195,000 house down to $118,500, that attracts buyers. That will move inventory out, and the permits will come up as builders need to start producing again."

The first article, Housing vote could change east Mesa, from the Arizona Republic, reports that two large, upscale master-planned communities that could alter the face of north and northeast Mesa are going through the approval process with the Mesa Planning and Zoning Board. Stonebridge Mountain is a 717-acre development at Ellsworth and McKellips that will have 304 acres of open space. The developer, Pinnacle Ridge Holdings, LLC, includes Jeff Blanford who developed Las Sendas. Blanford's application says the community is intended for the development of executive housing, a need in Mesa. Lehi Crossing, south of Thomas Road and west of Val Vista Drive, would convert citrus groves near Mesa's historic and rural Lehi community into a master-planned community with 971 lots on 267-acres. It will also have a school site and 44-acres of open space. Mesa planners support both developments. Once approved by Planning and Zoning, it will go before the Mesa City Council for final approval.
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/mesa/articles/1019bighouses1019-ON.html
The second article, Home values easing in slump, from the Arizona Republic, reports that despite slumping sales activity, the West Valley's median price for houses rose during the first eight months of 2006, anywhere from 10 to 30 percent, according to an analysis by the Arizona Republic. But the figures may be deceptive, say several real estate experts. First, they do not capture the slowing pace of sales after August, when for the first time in a decade, median prices for resale homes fell compared with the same time last year. "We've had a major correction," said Lyn Truitt, a real estate broker in Surprise. "The market has slowed considerably. The new-home market is impacting the resale market." New-home builders are loading up on incentives for buyers that artificially maintain the price. While it is taking longer to sell a home, those who have owned at least three years still stand to do well for themselves if they sell, says Margie O'Campo de Castillo, a broker who owns Arizona Dream Realty. "If someone experienced a 40 percent increase in equity last year, and it drops 8 percent this year, you're still doing very well," she said.
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/westvalley/articles/1020gl-homevalues20Z20.html

The first article, Housing vote could change east Mesa, from the Arizona Republic, reports that two large, upscale master-planned communities that could alter the face of north and northeast Mesa are going through the approval process with the Mesa Planning and Zoning Board. Stonebridge Mountain is a 717-acre development at Ellsworth and McKellips that will have 304 acres of open space. The developer, Pinnacle Ridge Holdings, LLC, includes Jeff Blanford who developed Las Sendas. Blanford's application says the community is intended for the development of executive housing, a need in Mesa. Lehi Crossing, south of Thomas Road and west of Val Vista Drive, would convert citrus groves near Mesa's historic and rural Lehi community into a master-planned community with 971 lots on 267-acres. It will also have a school site and 44-acres of open space. Mesa planners support both developments. Once approved by Planning and Zoning, it will go before the Mesa City Council for final approval.
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/mesa/articles/1019bighouses1019-ON.html

The second article, Home values easing in slump, from the Arizona Republic, reports that despite slumping sales activity, the West Valley's median price for houses rose during the first eight months of 2006, anywhere from 10 to 30 percent, according to an analysis by the Arizona Republic. But the figures may be deceptive, say several real estate experts. First, they do not capture the slowing pace of sales after August, when for the first time in a decade, median prices for resale homes fell compared with the same time last year. "We've had a major correction," said Lyn Truitt, a real estate broker in Surprise. "The market has slowed considerably. The new-home market is impacting the resale market." New-home builders are loading up on incentives for buyers that artificially maintain the price. While it is taking longer to sell a home, those who have owned at least three years still stand to do well for themselves if they sell, says Margie O'Campo de Castillo, a broker who owns Arizona Dream Realty. "If someone experienced a 40 percent increase in equity last year, and it drops 8 percent this year, you're still doing very well," she said.
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/westvalley/articles/1020gl-homevalues20Z20.html

Reverse Gold Rush...the press has good news!

The first article, Reverse Gold Rush, from Retailtrafficmag.com, reports that with cheaper housing and job growth to be found in the rest of the Southwest, Californians are conducting a reverse gold rush to Arizona, Nevada and New Mexico. According to the University of Southern California Office of Demographic Research, 250,000 Californians move out of California each year. That's what's behind projections that the population in Arizona will double in the next 25 years, growing from 5.7 million to 10.7 million. In fact, three out of five new residents moving to Las Vegas and Phoenix each year come from California. In addition, many California based companies are moving their operations out of state to Arizona and Nevada because of their proximity to California, allowing these companies to move products quickly to California markets and executives to fly in and out in a day. Reza Etedali, CEO for Irvine based Reza Investment Group, expects this trend to continue for the foreseeable future. "Over the next 10 years, there will be incredible growth in the Southwest," he predicts, noting that about one-third of his clients are now looking for opportunities outside the state. "The region could go through ups and downs, but long term, it's poised to grow."
http://retailtrafficmag.com/mag/retail_reverse_gold_rush/index.html
The second article, Sept. housing starts rose, inflation eased, from the Arizona Republic, reports that housing construction rebounded in September from a three-year low, and falling energy prices led inflation to slow, suggesting growth may pick up while letting the Federal Reserve keep interest rates steady. Housing starts rose 5.9 percent in September according to the Commerce Department. Th figures, along with the most recent report on retail sales and the labor market, diminish concerns that falling home prices will cause the economy to stagnate. Builders broke ground on more homes last month after cutting prices and offering incentives to clear out inventories of unsold homes. An index of home builder confidence increased this month for the first time in a year, led by rising sales expectations for the next six months. "We're nearing the end of the slowdown, but we're not quite there yet," said Michelle Meyer, an economist at Lehman Brothers Holdings Inc. in New York.
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/arizonarepublic/business/articles/1019biz-economy1019.html

Four new neighborhoods in Vistancia and New Cave Creek Development approved

The first article, Vistancia debuts homes in 4 new neighborhoods, from the Arizona Republic, reports that Vistancia, Peoria's largest master-planned community, just opened four new neighborhoods featuring homes from T.W. Lewis, Ashton Woods, Roseland Homes and Trend Homes. Trend will be building a new attached product on smaller lots that will appeal to first-time buyers, with prices starting in the $180,000's. T.W. Lewis will be building homes from 2,741 s.f. to 4,008 s.f. Ashton Woods will be building homes from 1,585 to 2,767 s.f. and priced from the $280,000's. Rosewood will be building homes from 1,846 to 3,028 s.f. priced from the mid $300,000's. Since Vistancia opened in 2004, buyers have purchased 2,342 homes. Beautiful development!
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/arizonarepublic/business/articles/1018biz-gl-vistancia1018.htmml

The second article, Large Cave Creek development OK'd, from the Arizona Republic, reports that the Cave Creek Town Council approved the final plat for Cahava Springs, a 230-lot community on 945-acres between Spur Cross Ranch Conservation Area and Maricopa County's Cave Creek Regional Park. The development will be Cave Creek's largest. The developer, Mark Sapp, has worked closely with the town over many years to get approval and received praise from the council for following through on all of his commitments. The homes are expected to sell for more than $1 million each. Construction could begin in February.
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/community/scottsdale/articles/1018sr-cccouncil1018Z8.html

The first article, Projects would build up Pinal City, from the Arizona Republic, reports that Casa Grande has three megadevelopments planned on the northwest side of the city that would end up having more residents than the city's current population. The three developments; the Legends, Grande Valley and Copper Mountain Ranch-- would encompass more than 30 square miles and have 74,000 homes with nearly 250,000 people. "We're not seeing a cooling like other communities in Pinal County," said Casa Grande Mayor Chuck Walton. "Maricopa and Johnson Ranch are gridlocked, so people are looking to Casa Grande. Developers are swarming us every day," he added. The city of Casa Grande will soon annex Copper Mountain Ranch and the Legends developments. Grande Valley was annexed in April. Look for this area to continue to boom due to their better transportation system.

Projects would build up Pinal City
http://www.azcentral.com/php-bin/clicktrack/print.php?referer=http://www.azcentral.com/arizonarepublic/local/articles/1016casagrandedev1016.html



The second article, Scottsdale to consider stricter condo rules, from the East Valley Tribune, reports that the city of Scottsdale is considering more regulations on condominium conversions, but some say its too late. Last year, during the go-go days of home selling, Scottsdale received conversion applications from 19 apartment complexes totaling 3,426 units. Scottsdale is considering raising the application fee, imposing stricter health and safety codes and requiring condo conversion projects to go through a public notice process. Scottsdale stands to lose nearly $800,000 in rental tax revenue if condo conversions continue.

Scottsdale to consider stricter condo rules
http://www.eastvalleytribune.com/index.php?sty=76653

The worst of the housing market may be over according to Greenspan

The first article, Scottsdale reaches critical mass for growth, from the East Valley Tribune, reports that four new Scottsdale projects were previewed at a Scottsdale open house event last week. These projects will cover thousands of acres and cost a couple billion dollars. The projects include One Scottsdale, Silverstone, The Senior Living Community at the Fairmont Scottsdale Princess Resort and the final phase of DC Ranch. These four developments not only add to the residential housing stock, but provide pockets of commercial use instead of strips through the community. "I think if there was any kind of general observation you can make, it's with the growth of residential, you need commercial services," said Robin Meinhart, Scottsdale planning department spokeswoman. "It's basically some of the last vacant parcels in Scottsdale and they were identified to support the residential in the area," she added. The most ambitious project is the One Scottsdale complex, a 120-acre commercial, retail and office space, 400 resort and hotel rooms, and 1,100 residential units that DMB is building. Silverstone is a 60-acre development at the former Rawhide site that will have 976 homes.

http://www.eastvalleytribune.com/index.php?sty=76115

The second article, Greenspan: Housing market worst may be over, from MSNBC.com, reports that former Fed Chairman Alan Greenspan said the the U.S. housing market appears to be emerging from its recent travails and the "worst may well be over." " I suspect that we are coming to the end of the downtrend, as applications for new mortgages, the most important series, have flattened out," he said. "There is a good chance of coming out of this in good shape, but average housing prices are likely to be down this year relative to 2005. I don't know, but I think the worst of this may well be over," he added. Greenspan made his comments at the BMO Financial Group event in Calgary, Canada.

http://www.msnbc.msn.com/id/15198805/

Local Housing Market slow but not on life support

The first article, Local market is slow but not on life support, from the Arizona Republic, reports that the figures that the local market news is based off of makes seems look worse than they really are. The article focuses on the importance of looking at what is currently on the market. According to Greg Swann, Broker for Bloodhound Realty, the nature of this market is that people are still seeking prices for their homes that would have been outrageous a year ago, as we neared the end of our housing boom. Whatever they might say, these people are not motivated to sell their homes right now. "The best-kept houses at the low end of the price spectrum will sell. The others will not. They won't even be shown."

Local market is slow but not on life support
http://www.azcentral.com/community/surprise/articles/1006gl-swann06Z1.html



The second article, FDIC: A Wealth of Housing Data, from MSNBC.com, reports that the FDIC just released its quarterly report, which breaks down housing and economic conditions in each state. Although written for banking experts, the FDIC report is for anyone interested in the housing market. You can view Arizona's FDIC profile at http://www.fdic.gov/bank/analytical/stateprofile/SanFrancisco/Az/AZ.xml.html This is a great tool to help you see the strengths and weaknesses of our Arizona Market.

Builders offering more and more incentives....

Homebuilders are offering more WOW for your money!
Don't miss out! Valley Homebuilders are offering up to $70,000 + Savings for You! Incentives up to $45,000, Zero mortgage Payments for 1 year Plus Zero Down payment and Zero Closing costs! Free Pool and Landscaping!
Some of the incentives also include, Covered Patios with Stucco Columns - Low E-Glass Insulated Windows - Separate Tub & Shower in Master Bedroom Suites - Vaulted Ceilings (Per Plan) - Pre-Wired for Ceiling Fans in Every Bedroom & Family Room/Great Room.
Selected communities have ready- to-move-in homes closing in 2006 that qualify for this program. The homebuyer must simply qualify for a loan through the homebuilder's mortgage and almost all loan programs are eligible.
Hurry! A limited number of selected homes are available. Contact me for Details.
If you're in the market for a new home, now is an excellent time to get involved. If you're timeframe is 6 to 9 months out, that's ok too - that's just about what it takes to complete or build your new home.
Current interest rates plus great homebuilder incentives make this a time to take notice!

Don't end up in the land of missed opportunities

IT’S A BUYER’S MARKET!
Don’t end up in the land of missed opportunities…..


The press has given considerable coverage to the reluctance of consumers to spend money during what is perceived to be challenging economic times, especially in the housing industry.

You can’t believe everything you read. The experts are sometimes wrong. The opportunity may pass you by if you continue with the “wait and see” attitude.

For Example:

Time Magazine reported, “The prices of houses seem to have reached a plateau, and there is reasonable expectancy that prices will decline.” THEY WROTE THAT IN 1947.

Business Week said, “The goal of owning a home seems to be getting beyond the reach of more and more Americans.” When they WROTE IN 1969, THE AVERAGE PRICE OF A HOUSE WAS $28,000.

The Miami Herald wrote, “If you are looking to buy, be careful. Rising home values are not a sure thing anymore.” That sage advice came in 1985.

Money Magazine said, “Most economists agree….a home will become little more than a roof and a tax deduction, certainly not the lucrative investment it was.” That was their best advice in 1986.

Now, like Paul Harvey would say, “here’s the rest of the story”………

Real estate is and will be one of the safest and best investments most people have. Open your eyes to the truly wealthy of our world and you will see the proof.

Phoenix is still an ideal destination. We are blessed with pleasant weather and a lack of natural disaster. Compared to other areas in the country, our economy and future prospects are bright. Companies will continue to relocate here. Look at our job market, number 3 in the country.

It won’t be long again until it is bitter cold again in Buffalo, Chicago, Minneapolis, New York, Calgary, and hundreds of other cities in North America and abroad. They all watch tv, read our newspapers, and yearn for our sunny, clear weather and our reputation of friendliness and western hospitality.

The housing market has not crashed, the sky is not falling. Real Estate is a sound investment. There may be no better time than now to buy. Interest rates are relatively low. There are lots to choose from, good pricing, and great incentives abound.

It may be time to get off the sidelines, release your “wait and see” attitude, and get back in the game. Because one thing is for sure….. hindsight is 20/20 in the land of missed opportunities.