“I have a higher and grander standard of principle than George Washington. He could not lie; I can, but I won’t.”
ASU economist: trends show Phoenix-metro avoiding real-estate repeat
Posted: Tuesday, June 11, 2013 6:03 pm
A report issued by the W.P. Carey School of Business at Arizona State University indicates the recent upswing in home prices has come at a steady, sustainable pace, meaning homeowners should not expect another bubble to burst.
In a housing report released Monday, Mike Orr, director of the Center for Real Estate Theory and Practice at the Carey School, wrote the median prices of homes in the Greater Phoenix Metro Area — encompassing the East Valley, West Valley and Pinal County — made a year-to-year jump from $140,000 to more than $180,000 in April. That 29.6-percent was accompanied by a 23.5-percent increase in the average price per square foot, which he said is a less volatile and more reliable indicator.
But the bump in home prices that have come since the market bottomed out in September 2011 were made in a fashion that doesn’t portend a potential real estate bubble like those that hurt the Phoenix market in the 2000s.
“What we have is a recovery,” Orr said. “I think what will happen is prices will go up, but more slowly.”
The reasons Orr cites for the price increase in the report vary, but are highlighted by the lack of houses available on the market. One reason for that trend is the relative dearth of homes that have been built over the last few years, which has limited buyers’ options.
Orr said the building snarl is rooted in three factors that have stopped builders from adding new homes to the market: the demise in the number of construction positions in Arizona; difficulty finding attractive land to build upon; and a general satisfaction from builders with the state of the market.
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Walter Unger CCIM, CCSS, CCLS
I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial and Landspecialist in Phoenix and a Landspecialist in Arizona.
WHETHER YOU LEASE OR OWN
NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.
In my opinion we are at bottom of the cycle in Commercial Real Estate in Phoenix, so there is only one way and it’s called we are going up again and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix. The prices on deals I may get you will not be around forever.
IF YOU OR ANYBODY YOU KNOW IS IN TROUBLE WITH YOUR BUSINESS, AS MANY AMERICANS ARE IN THE MOMENT, AND ARE ABOUT TO LOSE YOUR COMMERCIAL PROPERTY, PLEASE CONTACT ME. IF YOUR BANK IS BEHAVING BADLY I MAY BE ABLE TO HELP YOU GET OUT OF SOME OR MAYBE A LOT OF FUTURE HEADACHES.
WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME
We barely could give land away the last few years, but times are changing. Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.
Since I was a Land Specialist in Arizona and a Land Speciaost in Phoenix many of my clients, Sellers and Buyers remember me and now they are calling me again, so this is the time to get back into land and none of my clients, including future clients, will miss out on getting their best deal.
Also, if you are up-side down on your land, like many Americans, and the lender is giving you a hard time, now is the time to put your land on the market. Lenders are making deals now with short sales. I have been working with banks for many years – I learned how to work with them.
If you have any questions about the 1 to 3 above, 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 in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us.
Please reply by e-mail email@example.com or call me 520-975-5207 (cell) 602-778-5110 (office direct).
Walter Unger CCIM
Kasten Long Commercial
2821 E. Camelback Road, Suite 600
Phoenix, AZ 85016
Office : 602-445-4141
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