Phoenix Number Two in the Nation for Jobs

The article, City's latest top job ranking recognizes biotech impact, from The Phoenix Business Journal, reports that this month's Forbes list of the Best U.S. Cities for Jobs ranked Phoenix number two in the nation for the second straight year. Top honors went to Raleigh, N.C. Detroit, MI landed at the bottom of the list among the nation's largest 100 metro areas. Tucson checked in at number 20 and Las Vegas fell to eighth place. To compile the ranking, Forbes used five data points, weighed equally: unemployment rate, job growth, income growth, median household income and cost of living. The Phoenix area ranked 16th for unemployment, fifth for job growth, second in income growth, 34th in median household income and 64th in cost of living. The Forbes story, however, also had some cautionary words for areas buoyed by housing quoting Hugo Sellert, an economist and research manager with Monster: "The economy has shifted a lot in the past year, especially with the housing market cooling down," he said in predicting that markets in Florida and Phoenix will weaken, while the Midwest and Texas will start generating more jobs.

City's latest top job ranking recognizes biotech impact
http://phoenix.bizjournals.com/phoenix/stories/2007/02/19/daily3.html?t=printable

Have we seen the bottom of the market....indications are we are there!

The article, Home prices ready to rebound, Realtors say, after nasty Q4, from USA TODAY, reports that home prices should spring back in the coming months, the National Association of Realtors said Thursday, after it reported that prices slid in 73 metro areas in the fourth quarter of 2006. Home sales seem to have hit bottom already in many areas: 71 metro areas had price gains, and 14 of them posted double-digit year-to-year increases. Florida, California, Nevada and Arizona saw the biggest decreases in sales volume. "At least the bottom appears to have already occurred," said Lawrence Yun, senior economist at the NAR. "Now whether or not that will be sustainable is a different question", he added. The latest news about mortgage rates should help boost home sales. The average 30-year-fixed mortgage rate for 2006 was 6.40%. Currently it's sown to 6.30%, Freddie Mac said Thursday. "It's great news," said Frank Notaft, Freddie Mac's chief economist. "I don't see any sharp swings in mortgage rates in the near term," he added.

Home prices ready to rebound, Realtors say, after nasty Q4
http://www.usatoday.com/money/economy/housing/2007-02-15-home-sales_x.htm



The article, Home builders' interest in trust land is revived, from The Arizona Republic, reports that Home builders are bidding on big parcels of Arizona state trust land again. Seven developers showed up for the auction of a 694-acre site in the northwest Valley on Thursday. The Peoria site, the north part of the Camino a Lago planned property, was appraised at $43 million. Almost 100 bids among the builders drove the price up to $61.1 million. Scottsdale-based Communities Southwest was the winning bidder. The land is south of Pinnacle Peak Road and west of 91st Avenue. Other bidders included Lennar Homes and Toll Brothers. State land auctions in September of last year were canceled because there were no bidders. Communities Southwest is planning a residential project on the site.

Home builders' interest in trust land is revived
http://www.azcentral.com/arizonarepublic/business/articles/0215biz-talker0216.html#

The first article, West Valley developments ranked highly by magazine, from the Arizona Republic, reports that four active-adult communities in the West Valley have been ranked Arizona's best by the state's largest opinion poll, "Ranking Arizona: The Best in Arizona Business", produced annually by the Arizona Business Magazine. Sun City West's Corte Bella was tops for the second year in a row for the active-adult community category. Corte Bella opened in 2003 and has just over 1,600 homes and will close out by the end of the year. Sun City Grand in Surprise, PebbleCreek in Goodyear and Trilogy at Vistancia in Peoria also made the top 10.

West Valley developments ranked highly by magazine
http://www.azcentral.com/arizonarepublic/local/articles/0207wvactive0207.html



The second article, Scottsdale custom home sites opening soon, from the East Valley Tribune, reports that Sereno Canyon, a Crown Community Development project containing 122 estate-sized lots will begin accepting reservations for lot sales this week. The Sereno Canyon development is located on 330 acres near Alameda Road and the future alignment of 122nd Street. It will have lots averaging 2.5 acres and cost from the $700,000s to $2 million. "Hundreds of people have shown interest," said Jim Buckley, director of sales for Harvard Realty services. "It's literally the last best piece of undeveloped property in Scottsdale." The first phase will have 46 lots and take three or four years to build out, Buckley said. The homes will range in size from 3,500 square feet to more than 10,000 square feet, with home costs from about $2.5 million to more than $5 million.

Scottsdale custom home sites opening soon
http://www.eastvalleytribune.com/index.php?sty=83612