“You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur “ . ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
Russ Wiles, The Republic | azcentral.comPublished 6:00 a.m. MT May 4, 2018
Arizona’s economy will continue to expand in 2018, with no recession risk in sight and a solid commercial real estate market benefiting from job gains and population growth, according to a new Arizona State University forecast.
Arizona placed among the top 10 states in 2017 for job creation, domestic in-migration, population growth and other key measures, with further momentum likely this year and perhaps beyond.
“We’re expecting 2019 will be stronger than 2018, with population growth to pick up slightly,” said Lee McPheters, an economics professor in ASU’s W.P. Carey School of Business.
At 4.9 percent, Arizona’s unemployment rate remains above the national average, but that’s partly because so many new residents are moving here. Maricopa County’s population is increasing by about 200 people on average each day, McPheters said.
National economic tailwinds
The national economy is healthy, too, with the current expansion reaching 108 months in April, the second longest on record. Arizona’s economic expansion is up to 91 months, following a delayed recovery out of the last recession, McPheters said.
ASU projects Arizona will add around 69,000 net new jobs this year, up from 63,000 in 2017 and rising to 85,000 in 2019.Nearly all the state’s growth will be centered in metro Phoenix.
The tax-reform package enacted in December has boosted the economy, partly in increased capital investment, said Dennis Hoffman, an ASU economics professor. He cited improved consumer and business confidence, more hiring and still moderate inflation as other positives.
“There are no signs of recession for several years,” Hoffman said.
Notably, younger adults have grown less optimistic than older ones about the economy, with more preference for socialistic policies, Hoffman said. This attitude shift might reflect the difficulties many young adults have in launching careers, buying homes and paying off student loans. It also could reflect concerns about pronounced levels of income inequality in society, he said.
In metro Phoenix, home prices since 2010 have risen at more than double the clip of wages, adding to the difficulty some younger adults face in buying houses.
Commercial space expanding
Dozens of construction cranes now can be seen across the Valley’s skyline, especially in downtown Phoenix, Tempe Town Lake and Scottsdale.
Mark Stapp, an ASU real estate professor, said he isn’t concerned about an oversupply of commercial real estate.
“I think we’re building to the demand we have,” he said. “The commercial space being developed is in line with the demand being created by the economic expansion, and it’s in line with job growth.”
Other characteristics of the commercial market in metro Phoenix include rising rents and slightly higher vacancies, with a heightened desire by tenants to move into new or renovated facilities.
Among potential concerns for commercial real estate are higher expenses for materials and labor, which threaten to delay and increase construction costs. For example, steels costs are rising because of recent tariff increases.
But in general, Stapp said he views the Valley’s commercial real estate market as “very healthy.”
Reach the reporter at russ.wiles@arizonarepublic.com or 602-444-8616.
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ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net. …. VIEW ALL OF WALTERS LISTINGS. Let me know if you are interested in Apartments: CLICK HERE FOR APARTMENTS FOR SALE
KASTEN LONG Commercial Group and AMA Events, Resources & Education For Apartment Owners
Timeline of Arizona from 900 BC – 2017
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
FROM ME:
Phoenix Commercial Real Estate and Investment Real Estate: Investors and Owner / Users need to really know the market today before making a move in owner user Commercial Properties, Investment Properties and land in Phoenix / Maricopa County, Pinal County / Arizona, as the market has a lot of moving parts today. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands Commercial Properties and Investment Properties. I am marketing my listings on Costar, Loop-net CCIM, Kasten Long Commercial Group. I also sold hundreds millions of dollars’ worth of Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also internationalClick here to find out what is a CCIM: https://en.wikipedia.org/wiki/CCIM
PLEASE CALL ME 520-975-5207 OR E-MAIL ME walterunger@ccim.net
ARE YOU READY TO SELL OR PURCHASE YOUR LAND OR COMMERCIAL BUILDING IN PHOENIX, SCOTTSDALE, MARICOPA COUNTY AND PINAL COUNTY, ARIZONA, CLICK HERE AND PLEASE CALL ME. 520-975-5207 or email me walterunger@ccim.net
8 Reasons You Should Invest in Land
Timeline of Arizona from 900 BC – 2017
WHY PHOENIX? AMAZING!!! POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”
DOT – LOOP 202 / SOUTH MOUNTAIN FREEWAY / PHOENIX AZ – UNDER CONSTRUCTION
ARIZONA FACTS – YEAR 1848 TO 2013
- DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:
- The average age of the population is 34 years old.
- The health cost index score in this area is 102.1. (100 = national average)
- Here are some of the distributions of commute times for the area: <15 min (22.7%), 15-29 min (36.8%), 30-44 min (25.1%), 45-59 min (8.6%), >60 min (6.8%).
PHOENIX PROJECTED AS NUMBER ONE US HOUSING MARKET FOR 2017
LIST OF ECONOMIC DEVELOPMENT PROJECTS IN PINAL COUNTY, REVISED 2-14-17
Reasons to Consider me for Commercial Referrals – I have the Knowledge and Experience
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Walter Unger CCIM – walterunger@ccim.net – 1-520-975-5207 – http://walter-unger.com
2016 Official Arizona Visitors Guide
Timeline of Phoenix, Arizona history
Facts of Arizona – year 1848 to 2013
Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.
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Kasten Long Commercial Group tracks all advertised apartment communities, including those advertised by other brokerages. The interactive map shows the location of each community (10+ units) and each location is color coded by the size (number of total units).
Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years. If you have any questions about Commercial / Investment Properties in Phoenix or Commercial / Investment Properties in Arizona, I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us.
Please reply by e-mail walterunger@ccim.net or call me on my cell 520-975-5207
Walter Unger CCIM
Senior Associate Broker
Kasten Long Commercial Group
5110 N 40th Street, Suite 110
Phoenix , AZ 85018
Direct: 520-975-5207
Fax: 602-865-7461
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