Phoenix Area Real Estate

The Year in Review  

 

As we begin a new year, I thought it appropriate to put this past year in real estate into perspective.  The media coverage has been extraordinary, and for the most part negative.  I am not going to tell you that everything is rosy, but the negative media spin tends to lead to a self fulfilling prophecy.  The more negative press, the more people become scared, and the less likely that they will forge ahead with plans.   

 

The market will continue to suffer through 2008 due to excessive inventory.  This causes many sellers to sell in desperation

The Developers of CityNorth, a 144 acre development that I have mentioned before, located between Tatum Blvd and 56th St,. north of Loop 101, have announced they will open a sales office at the end of January.  Potential residents and office and retail tenants will get a chance to see what is planned.  

The office will include a scale model of CityNorth and a mock up of one of the residences. The office will handle information and sales on retail, office and residential offerings in the project's first phase.

Residential units in Phase 1 will include 'The Residences

Happy New Year to all!  I hope that this New Year brings happiness to all.  may we all get along and make it a great year!

I want to take care of a little confusion regarding RE/MAX.  On December 24, the owner of the RE/MAX 2000 franchise in Gilbert, AZ notified his agents that he was closing down.  This became a big story in the local media, and due to some less than stellar reporting became construed to things it is not.  So, let me clear this up.

First, all RE/MAX offices world wide are franchise owned.  Due to this aspect, RE/MAX International and other RE/MAX offices were not aware of the developing