Archive for May, 2008
Medlock Place Historic Neighborhood in Uptown Phoenix
May 29th, 2008 categories: Uptown Phoenix
Generally bounded by Seventh and Missouri avenues, the alley west of Central Avenue and the alley south of Pasadena Avenue. Located in Uptown Phoenix.
April 2003 (Period of Significance: 1926-1956) Read some history about Medlock Place
Medlock Historic District was the original suburban residential development in Phoenix. It first opened in 1926 4 mile north of the edge of town. Today many of the homes retain their county flair amidst the rapidly developing Phoenix city center. Medlock Place is located in Central Phoenix, or what is becoming Uptown Phoenix.
Medlock place is comprised mostly of single family homes but there are condos and apartments, like Colter Apartments in the neighborhood, though not in the Medlock Place historic area.
Homes in Medlock Place sell from the mid $300’s to the mid $700’s but can sell for more and most homes are now selling from $600,000. The neighborhood will continue to gain popularity due to its proximity to downtown Phoenix.
Medlock Place is within walking distance to 2 stations on the metro light rail, one at Central Ave and Camelback and the other at 7th Ave. and Camelback. According to statistics from several sources and light rail type system tends to increase property values along it and more so if there are station within walking distance.
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What some will do to save a few bucks and water.
May 28th, 2008 categories: Local Color
This is a person who is going to be turning a water wasting work creating large grass yard into a lush desert landscape.
Take a look at how two of the first trees got transported to their destination. Looks dangerous but it was a short one mile drive through some small street. The only thing dangerous was that a bird might have gotten confused.
(Photo by Artur Ciesielski of PhoenixMarketTrends)
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Boundaries of Phoenix Uptown, Midtown and Downtown.
May 28th, 2008 categories: Downtown Phoenix, Midtown Phoenix, Uptown Phoenix
We just created a page which defines the rough boundaries of Phoenix Uptown, Phoenix Midtown and Phoenix Downtown. Take a look at the page HERE
These are rough boundaries defined after a discussion with several people and some research. We will use them at Real Estate Confluence as guides then further explore each nook and cranny of these areas.
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Real Estate Confluence Redirected.
May 27th, 2008 categories: Edits
The focus but not the intent of real estate confluence is changing before it really started. We have been working out a few technical kinks. Furthermore we felt that the way we had started real estate confluence would be too close of a match for Phoenix Market 
Trends.
We have been exploring Phoenix quite a bit lately and these explorations are more and more pulling us toward Phoenix Downtown, Midtown and Uptown.
It’s this pull that will mould Real Estate Confluence into a blog-site that focuses on what is emerging into a vibrant, exciting and authentic part of Phoenix.
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Phoenix Home Sales News for April 2008
May 13th, 2008 categories: Market Trends, Phoenix real estate
April 2008 Phoenix Home Sales News from PhoenixMarketTrends.com
The buzz is out. ASU Polytechnic has put our their April numbers for Greater Phoenix real estate sales and all the blogsites are shaking with activity, some just putting out numbers while other are commenting about those putting out number and then putting them out themselves, then others are…So what’s the break down.
In April 5,585 homes sold compared to 4,855 last year. That’s quite an increase. From what the report shows the pick up in sales is for lower priced homes. There is a lot of short sale, foreclosed and distressed properties being sold for very low prices, especially on the outskirts of Phoenix metro. Its the higher end homes that are stagnating now with high inventory and lower sales. This is probably the reason that year on year median home price for the Phoenix valley declined to $210,000 from last years $265,000.
Affordability is up, loans are available and buyers as well as inventory now see the opportunity and can act on it. Getting rid of the starter home stock should help with sales up the food chain but this may not happen because many of the homes sold are vacant anyways so there is no one to move up.
The increased activity is good but, is it a sign of a return? Probably not. The market is simply stabilizing at the bottom which may last a while and fluctuate both down and up.
A Coutrywide economist seems to think we are in for additional turmoil after a bit of peace this year.
“Home prices will stabilize for the remainder of this year with many forecasting a permanent bottom. The next leg down for this economic and credit cycle will begin next year with another government stimulus package to follow. Patience will be rewarded to those that don’t chase the first bounce off a temporary bottom. Those with debt should liquidate into strength and build savings for the opportunities that lie ahead in 2010 and beyond.”
Is this relevant for Greater Phoenix? Probably, but each neighborhood and segment moves differently.
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How Can We Be More Caring?
May 13th, 2008 categories: Local Color
By carrying more and making sure there is enough for everybody.
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Are Smaller Houses Becoming More Popular in Phoenix?
May 12th, 2008 categories: Architecture, Market Trends
The houses of the future will be smaller. 60% of buyers surveyed by the National Association of Home Builders would prefer to have a smaller house but with more features.
So far this does not seem to be a trend in Phoenix as the average home square footage has been steadily growing. It was 1700 median square feet in early 2007 and its 1800 in 2008.
There are more people looking for quality vs. quantity, a good layout vs many rooms and access to entertainment without having to drive too much.
I hope this trends comes into its own. The building of smaller more efficient homes would use less energy and be easier to maintain not to mention less material to build.
Often is more about layout, use of space and quality of space then quantity of space that determines the quality of life in a house of apartment.
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Crisis in the Phoenix real estate market.
May 10th, 2008 categories: Edits
I was reading a book by Dr. Robert Anthony and in one of the chapters he states, “All problems are really opportunities in disguise. The Chinese realized this. Their symbol for crisis is made up of two symbols: one for problem, and one for opportunity.
Can you see how this relates to real estate and the current market?
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Nice Bottom
May 9th, 2008 categories: Market Trends
Has the Phoenix real estate market entered the bottom of the real estate cycle? There seems to be more chatter that in fact it has. This chatter extends to printed material as well as online and in the streets. Personal Real Estate Investor publisher “…is going on the record as calling the first quarter of 2008 the bottom of the U.S residential real estate market.” and Cyril Moulle-Berteaux has an article titled, The Housing Crisis if Over, coming to a similar conclusion, that indeed it may be over.
The numbers indicate a similar conclusion and April resale numbers look very good indeed.The bottom is good. It means stability if nothing else and stability breeds confidence. Home prices are more affordable and though we may be at the bottom for quite a while as we go through the inventory.
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Paradise Valley to Denver
May 6th, 2008 categories: Homes Worth Buying
Looking for ways to move forward, you may want to approach the challenge of selling your house from a different side. Though there might be a small chance- there is always a chance, possibility, that when you are looking to sell your home with expansive views in Paradise Valley, because your life plans are taking you to Denver, there might be someone, searching for a home in PV waiting to sell a home in Denver.
If you have a home in PV with great views, (up to 1.6M) , indeed plan to move to Denver, and are ready to experience the ultimate Colorado lifestyle… this place might be for you…
Built in 2005, stunning, open, 6000 sf home, on 10 acres-it offers expansive, mountain and wildlife views. What is special about Lambert Ranch: there are less than 40 homes, each is on 10+ acres with ~ 500 acres designated as a preserve for the use of the residents. What is even more exciting – it is easy to commute to Denver from Lambert Ranch and it is less than 10 minutes away from upscale restaurants, shopping and a gym.
Please call me, I have more info and pictures! Joanna 602.358.1392
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