Urban Life

May 3 2011 Phoenix Mayor Candidate Debate Information

I attended the debate between the 5 Phoenix Mayoral candidates last night at the Phoenix Theater at 1st and McDowell. The place was packed as Greg Stanton, Wes Gullett, Claude Mattox, Peggy Neely and Eisenhauer answered questions posed by moderator Frank Commacho. Special thanks to Citizens for Phoenix who hosted the debate.

I took notes as the candidates for Mayor of Phoenix answered each question and posted an article on our sister site, www.UrbanConnectionRealty.com. If you would like to read what I heard the candidates say, just click on the link below.

Phoenix Mayoral Candidate Debate Results for May 3 2011

Hope you enjoy...

Gene Urban
The Urban Team
602-234-5777
gene@UrbanTeamAZ.com 

 

April Real Estate Market News and Information Greater Phoenix

Our good friend Sarah Moran from Equity Title just sent the real estate market news and update for April 2011.

I like Sarah's approach to performing real estate market analysis and home price projections. Like me, she is based in supply and demand therory and she includes social connectors when possible. This report is a broad one with real estate market information Phoenix, Scottsdale, Mesa, Gelendale, Tempe and most other cities in the Greater Phoenix region. Thus, it is supply and demand based as social consideration such as job growth is too regional to be use when painting with a broad brush.

That said, here is the real estate market news for April 2011 provided by Equity Title and Sarah Moran:

Hello!

Here is the Market Update through the end of March 2011. Please note that the Valley Wide graph represents all of the MLS. The table below that graph just represents recordings for new and re-sales for Maricopa County.

Good News: Total active listings have dropped by another 2883 units over the beginning of last month. As of yesterday, we sit at 36,883 Actives, which is the lowest amount in April for the last two years! Good news for sales, too: Sales are up to 9135 for the last 30 days, as of yesterday. We are currently sitting at a 3.8 months of supply.Traditionally, 3.8 months of supply is considered a Balanced Market! Wow!

Distressed Market Pie Chart: This chart shows you the percentage of distressed properties that are being listed and sold. Short Sales currently represent 20% of the Closings and 38% of the active Listings for a 8.3 Months of Supply ~ This has dropped from the 9.8 months of supply we had in February. Distressed Sales (Short Sales and REOs combined) accounted for 66% of the total sales for March.

Closings are Increasing: There were 9118 closings in March 2011 vs. 8657 closings in March 2010 ~ which equates to a 5% increase over last year (even without the Tax Credit)! 

Reality Check: The Median Sold Price for Maricopa County for March 2011 was $120,100. In March 2006, the Median Sold Price was $260,000! In March 2000, the Median Sold Price was $132,000. Use this at your listing appointments to help explain what has happened to our market and get realistic list prices!

We currently sit at a 3.8 months of supply in the valley. This may seem balanced but the high-end market continues to be stagnant. In the entire MLS, only 88 properties sold for $1+ million for the month of March. An astounding 94% of the closed MLS Sales for March were less than $400,000!

Please click on the link below to take you to the Graphs. You can save/print/email them from there! Use these with all of your clients, SOI and Open Houses! Everyone wants to know what is happening in Real Estate - Be the authority!! Remember that you can always go to www.eta-az.com and click on Market Update for this info as well!

 

CLICK HERE FOR CURRENT GRAPHS

 

MONTHS OF SUPPLY

East Valley: 3.7

NorthWest: 3.6

Paradise Valley: 15.8

Luxury ($1mil+): 15.8 (WOW! This has dropped drastically!)

Southwest: 3.4

Peoria/Glendale: 4.5

Camelback Corridor: 5.0

Cave Creek: 6.4

Ahwatukee: 3.9

Scottsdale: 6.1

Apache Junction: 2.6

Fountain Hills: 4.4

Buckeye: 3.1

Desert Ridge & Tatum Corridor: 3.3

 

Frances To Celebrate 4th Anniversary

I love locally owned business success stories and Frances is one. They have made it though the initial hurdles and will be celebrating their 4 year anniversary on Saturday, May 1st, 2010.

Hopefully, most of our readers have already been to this very sweet boutique in Central Phoenix. If not, use this special celebration to introduce yourself to this incredible boutique with lot of clothing, jewelry, gifts and more. It’s no wonder Yelp readers have given the place 4 stars and dozens of reviews.

To celebrate their fourth year, the gang at Frances is doing lots of fun stuff including:

• Raffle Prizes for gift cards and Frances merchandise
• Music by Courtney Marie Andrews
• Free Gifts with a purchase
• The Urban Cookies Trailer with lots of goodies
• A Special Tom’s Shoes Charity Auction with Local Artist Decorated Toms.

I hope you have a chance to drop and enjoy the 4th anniversary festivities. If you do, drop on back and tell us your thoughts by leaving a comment on Urban Life.

Frances 4th Anniversary Celebration Info

WHEN: Saturday, May 1st
WHERE: Frances at 10 W. Camelback, Phoenix, AZ
TIME: 10:00 to 4:00

See you there…

Gene Urban
The Urban Team
602-234-5777

2010 Willo Historic Home Tour Information

We are getting close to the 22nd annual Willo Historic District Home Tour. YEAH!  Once a year the residents of Willo, between Thomas & McDowell and Central & 7th Ave, open several homes to the public.

If you have never been, you will want to add this to your Valentine's Day festivities. What better way to celebrate love than to walk hand-in-hand with your dearest and visit homes that also show a lot of love.

The Willo home tour is this Sunday, February 14th, from 10:00 am to 4:00 pm. Besides the charming homes, there is a cheerful street fair to enjoy. Does it get any better than this?...well maybe a beach in the Bahamas. However, if you are not winging your way to some exotic place, come join the festivities at Willo.

Tickets and information can be found on the official Willo Historic District Web Site.

By the way, if you find you want to learn more about the historic neighborhoods of Phoenix, visit our main site's historic homes in Phoenix, AZ info page.

A little tour of the Willo Historic Disctrict...

 

La Hacienda Historic District in Central Phoenix Arizona

Welcome as we explore another of the 35 historic districts in Phoenix, AZ. Today we look at La Hacienda Historic District.

La Hacienda Historic District, northeast of Thomas and 3^rd St. is a special mix of predominantly revival and ranch style homes. The district is comprised of two 1920’s subdivisions, La Hacienda and Mayfair, roughly bounded by 3^rd & 7^th streets and Verde Ln. & Catalina Dr.

Las Hacienda subdivision was the creation of Maurice and Ruth Obear and established in July of 1926. Their goal, according to historic records, was to create a neighborhood that would complement the nearby Phoenix Country Club and attract well heeled home owners.

The Obear’s contracted renowned architect Herbert Green to design some of the initial homes. Green, also the architect of record for nearly half the Phoenix County Club homes, was noted for his passion for the Spanish and Monterey revival style. Green’s influence is clearly evident throughout Las Hacienda.

Mayfair is the second subdivision that comprises Las Hacienda historic district. It begins at 3^rd street and ends at 5^th street.

John and Dorothy Bonds plated this neighborhood in 1928 creating 48 home lots. The lots were smaller than La Hacienda’s and sold for a fair amount less. Records state you could buy a lot in Mayfair for $840-$1140 in 1928, whereas Las Hacienda lots sold for $1500-$1750 during the same period.

Homeowners in the area describe the neighborhood as warm and friendly. Many use the light rail and biking to downtown restaurants and activities is common. The hardest thing is finding one of these home for sale, especially in the original La Hacienda subdivision. That, in itself, speaks volumes for the neighborhood.

Architectural styles represented in La Hacienda historic district include:

• Spanish Colonial Revival
• Monterey Revival
• Mediterranean Revival
• Pueblo Revival
• Cap Cod Revival
• Transitional and Modified Ranch
• Mid-Century

If you would like to see a virtual tour of La Hacienda Historic District, visit our primatry web site's La Hacienda page. We also have information on the homes currently on the market in La Hacienda.

Best to you,

Gene Urban
The Urban Team at Realty Executives
602-234-5777

Top 50 New Years Parties in Phoenix, Scottsdale, Tempe, Glendale AZ

As we leave 2009 and welcome in 2010 thoughts of celebration and parties come to mind. In case you wonder where you can bring in the New Year, NYE, we’ve compiled a list of 50 places in Phoenix, Tempe, Scottsdale, Glendale and Mesa you can join the fun.

Enjoy and we hope you have an incredible 2010.

Gene Urban and Ron Urban
The Urban Team

_______________________________________

 

1. Club Dwntwn, 702 N. Central, Phoenix -- 602-258-8343 
2. Alice Cooperstown, Downtown Phoenix, AZ. Think Alice with be there?
3. Angels & Outlaws - 6990 E. Shea Blvd. – Scottsdale – This is a Raven Events Sponsored Party
4. Axis/Radius Nightclub, Downtown Scottsdale. The 2010 Space Odyssey Party
5. BAR smith, Downtown Phoenix AZ. Fuse Friday event.
6. Bobby C’s, Downtown Phoenix. On a light rail stop and jammin with Jazz
7. Boulders Resort, Carefree, AZ. party will be at Latilla. The Boulders is a Wistoria Resort property.
8. Carefree Station Grill, Carefree, AZ
9. Cave Creek Coffee Company & Wine Bar, Cave Creek, AZ. One of the stops in the Big Cave Creek NYE party.
10. Cherry Lounge & Pit, Tempe, AZ… dance in the NY.
11. Children’s Museum Phoenix, Downtown Phoenix. A family NYE event. Play in the NY.
12. Club Red, Tempe, AZ. Blunt Club Hip Hop event.
13. Compound Grill, Phoenix AZ. Featuring the music of Tea Leaf Green.
14. Cream Stereo Lounge, Scottsdale, AZ. Circus Acts and more at this NYE party.
15. D'Arcy McGee's - Tempe Marketplace – Tempe. Bring in the NY Irish Style. Live music and dancing.
16. Estate House, Scottsdale, AZ. Nick Heward & The Elements of Style are on the stage this NY’s.
17. Fat Tuesdays Tempe, AZ. Be part of the Fiesta Bowl week of Parties.
18. Fiesta Bowl Block Party, Tempe, AZ.  The PARTY of NYE parties in Arizona featuring the Doobie Brothers. 
19. Franciscan Renewal Center, Paradise Valley, AZ.  They’re hosting a 3-day retreat to bring in the NY. Starts Wednesday.
20. George and Dragon - 4240 N. Central Ave. – Phoenix. They’re celebrating NYE twice.
21. Hard Rock Cafe,  Downtown, Phoenix. There is always a party at the Hard Rock…
22. Hurricane Bay - NW– Phoenix
23. Hyatt Regency Phoenix, Downtown Phoenix. Party with the Groove Merchants resort style.
24. JW Marriott Desert Ridge Resort, Desert Ridge, Phoenix. Two restaurants to choose from and the Robert Street Band.
25. Lon’s at the Hermosa Inn, Paradise Valley, AZ. Gourmet dining and the Chris Putrino Band. They played at our wedding.
26. Majerle's, Downtown Phoenix. Lots of action at the original downtown sports bar.
27. Margaritaville, Glendale, AZ. Party at Margaritaville and go on to the Westgate Rocks parrty
28. Martini Ranch, Scottsdale AZ. Special Guests Halo Machine.
29. Matadors’ Ultra Lounge, Phoenix
30. McFadden's Glendale, Glendale AZ. Party at Westgate.
31. Mondrian Scottsdale Hotel – Old town, Scottsdale. Lingerie and Cupcakes are on the bill in this ultra Urban setting.
32. Myst Nightclub, Old Town Scottsdale, 2010, a party for the Gods with DJ MCB
33. Phoenix Symphony Hall, downtown Phoenix. Ring in the New Year with the symphony.
34. Saddle Ranch, Scottsdale, AZ.  Not sure what they are doing this year…
35. Sangria Luxe Lounge, Glendale, AZ. Get dressed in White and come to the White Castle wonderland.
36. Sassi, North Scottsdale, AZ. Fine Italian food and music by the Frank Smith Quartet.
37. Sky Lounge, Downtown Phoenix. Lots happening here for the downtown dweller.
38. SKYE, Peoria, AZ. Enjoy Motown in Raymond’s or Terry & Anne Davies in the Platinum room.
39. Stars Ballroom, Mesa, AZ. Take your baby out dancing ballroom style.
40. Stone Rose Lounge - Fairmont Scottsdale. Five Diamond Resort Fun
41. Suede – Scottsdale, AZ
42. Sugar Daddy's, Scottsdale, AZ… it’s closed so I don’t think the party will be happening here.
43. Tempe Center for the Arts, Tempe, AZ. Dinner and jazz with off-Broadway star Joe Bousard & Laurie Fagen
44. Tempe Improv, Tempe, AZ.  Laugh in the new year with Charlie Murphy and friends.
45. The National Comedy Theatre, Mesa AZ. Call for details on the show.
46. The Rhythm Room, Phoenix, AZ. Get rid of the 2009 blues with the Fremonts.
47. Venue of Scottsdale, Old Town Scottsdale, AZ. Celebrate new years and help the Leukemia Society.
48. Westgate City Center, Glendale, AZ. A lot of options at Westgate for all ages including Westgate Rocks.
49. Wildfish Restaurant, Scottsdale, AZ. You know the food is good… let us know how the party was.
50. Wrigley Mansion, Phoenix, AZ. The dinner is already sold out, but there will be music in the bar.

If you party to much to drive, local cabs, Execucars and light rail will keep you and others safe.

Have a great night and even better new year.

FQ Story Historic District a look at revival homes in Phoenix, AZ

We just completed an article about the FQ Story Historic District in downtown Phoenix, Arizona. You'll find the complete text on our main web site, UrbanTeamAZ.com.

FQ Story is one of the sweetest historic districts in all of Phoenix and well worth taking a walking tour through. I like to catch a bite at the Original Hamburger Works and park at the 7th Ave and Lynwood entrance. Water in hand you'll be on your way to a wonder walking adventure. Afterwards, you may want to pop by SideBar for a cool refreshment... its a great locals hangout.

Rather than re-post the article on our main web site, just follow the link... UrbanTeamAZ.com. We have a bit of neighborhood history, a virtual tour and a look at the various homes currently looking for a new owner.

Enjoy,

Gene Urban
The Urban Team at Realty Executives
602-234-5777

Medlock Place is a Historic Neighborhood & District In Uptown Phoenix, AZ

We have been producing a series of articles on our primary web site, www.UrbanTeamAZ.com, exploring the various historic districts in uptown and downtown Phoenix Arizona. We will be including our summary of the various historic neighborhoods and the virtural tours we've created here on Urban Life as well. Our first post is on Medlock Place. We hope you enjoy.

Medlock Place, an historic neighborhood in uptown Phoenix Arizona, was once described as rural living at its finest. Today it is hard to believe homes north of Camelback between Central and 7th Ave could be considered rural. That's time for you.

Medlock Place Historic District is the collective name of a number of subdivisions dating back to the 1920's. The principle neighborhoods are: Orangewood Estates,Medlock Place, Medlock South, Aldrich Place and Evans Add to Orangewood. A few other small subdivisions, Tyson Place, The Palms, 21 Pasadena and Brentwood Park add to the mix known as Medlock Place Historic District.

Variety is a term often used to describe the architectural styles in the neighborhood. Bungalow, Spanish Colonial Revival, English Tudor Revival, Pueblo Revival and California Ranch can all be seen. Add to that the mature and often dense vegetation due to irrigation and you have a unique bit of old that looks nothing like the desert it sits in.

Medlock Place and South Medlock are my personal favorites in the district. The larger lots and lack of sidewalks give it a rich feel. The roads lined with little date palms 80+ years ago, now reach high over the streets adding even more charm.

Below is a tour we put together of the area. Hopefully, this will give you a sense of the neighborhoods and homes that make Medlock Historic District very special. For more information we recommend Medlock's exceptional web site.

Luxury & Mid Price Homes Starting to Sell in Central Phoenix

September home sales in Central Phoenix zip codes 85012 and 85013 indicate home sales in the $500,000+ market are on the rise.

For quite some time the mid to luxury home market has been the pits. ARMLS sales figures from last May and June showed just one sale each month when the price tag was over $500,000 while under $500K properties accounted for 53 sales during the same time period.

July and August saw a slight rise with 3 out of 20 sales (July) and 2 of 15 (August) sales in the higher price range. However, September saw much better numbers.

Of the twenty-one September home sales in 85012 & 85013, four properties went for more than half-a-million clams. At first I didn't think this was all that different until I looked at the percentage of total sales. May and June stats show sales in the above 500K range at 3.77% of total sales while September figures rocked in at 19%... that's a big gain by most standards.

I believe the upswing is due to jumbo loan availability. For most of 2009 it was very difficult, almost impossible, to get a loan for over the conforming standard of $417,000.The hedge funds and investors that traditionally backed the higher loans were off licking their wounds.

However, we are now seeing a slow trickle of investors putting their toes in the Jumbo loan pool. Our friends Lisa Sahughnessy at Desert Heritage Mortgage and Judy Giel of MetLife Home Loans both announced new jumbo loan programs a couple of months ago.

The bottom line is that we are seeing a sales rise in the mid to luxury market and it's not just Central Phoenix; Scottsdale numbers are rising as well. This is good news for the real estate market as it shows a bit of stability moving upwards through the market. If you couldn't get a loan for a more expensive home last winter or spring, you may want to try again... you may be pleasantly surprised with both the rates and what you can buy for your money.

That is all for this Monday in Paradise.

Gene Urban
The Urban Team at Realty Executives
602-234-5777

Radiate Phoenix to Meet at the Downtown Phoenix Public Market

Radiate Phoenix, a gathering of downtown advocates, will celebrate its two year anniversary with a special meeting. The Radiate PHX gang will gather for a special preview of the all new Phoenix Public Market Urban Grocery and Wine Bar.

Radiate Phoenix brings together architects, urban planners, City representatives, downtown residents, business owners, and an Urban real estate guy like me. The purpose is to support the urban core, learn more about the downtown region, engage with like-minded others and influence development and policy. Gatherings are held on the last Tuesday of each month.

I am especially excited about our two year anniversary. It seems like just months ago it was just a thought and now it celebrating a milestone.

The specifics on the next meeting are as follows:

WHEN:  September 29, 2009
TIME:  5:30 -- 7:30
WHERE: The Phoenix Public Market at Central and Pierce

If you love the downtown region, love to gather with friends and want to make a difference to the community, please join us. For more info, visit the Radiate Phoenix Ning site.

Gene Urban
The Urban Team at Realty Executives
602-234-5777