It’s shaky, but improving. Experts say the Phoenix-area commercial real estate market is now officially in a slow recovery mode. A full 100 percent of the real estate brokers participating in a quarterly survey by the W. P. Carey School of Business at Arizona State University indicate they feel “optimistic,” and 84 percent believe the market is on an upswing… Read more »
Residential real estate prices saw moderating price growth for an eleventh month in a row, according to the latest figures from property data provider Clear Capital. Nationally, yearly gains decreased from a high of 11.7% in October 2013 to just 7.8% through September 2014. This trend is amplified in the West, where annual gains are cut nearly in half, from highs of 19.5% in October 2013 to 10.9% in September 2014… Read more »
Multi-family housing appears to be the hottest segment in Phoenix-area commercial real estate development, with two of the top three companies in the Phoenix Business Journal’s Commercial Real Estate Developers list, published today, specializing in the apartment market. Mark-Taylor Inc., which develops, builds and runs apartment complexes around the Valley, reported developing 2.32 million square feet in 2013… Read more »
Refinancing is tougher now for many homeowners because of tighter lending guidelines. Even former Federal Reserve Chairman Ben Bernanke says he is having trouble lowering the interest rate on his house. This month, he told a crowd at a Chicago conference on senior housing that lending guidelines are so tight he hasn’t been able to refinance. “Unfortunately, Bernanke, like many, found that tightened credit guidelines do not discriminate…Read more »
Anyone involved in medical office building (MOB) sales in any way, shape or form knows that investor demand for the product type is very strong while supply, according to many, cannot keep up. Yet it sure seems as if buyers are finding plenty of MOBs to their liking, as the total sales volume for the first half of 2014 actually topped that of the first-half of last year, the all-time record-setting 2013… Read more »
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