Does Valley housing market
have room for 'condotels'
Builders
banking on lure of hotel life
Condotels
essentially are hotels with residential units on top
that buyers can live in or rent to hotel guests for
a slice of the nightly rate. About five condotels
are slated to open around the Phoenix Valley in the
next couple of years, starting with the Valley Ho,
where the first two residents recently moved in and
construction will finish in December.
Is the Arizona Real Estate
Bubble Really Deflated?Southeastern
coastal real estate will continue to boom . Each day
nearly 2,000 people migrate to the Southeast and to
the Gulf Coastal areas of the U.S. as the Baby
Boomer generation heads toward retirement and will
flock to the East Coast in droves to settle down.
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estate
High demand for luxury homes
continues
Players in
metropolitan
Phoenix's
luxury home
market say demand for expensive houses is
running high despite rising prices and scarce land
in desirable neighborhoods.
Survey: Maricopa is young, affluent
The "new"
Scottsdale could be just an hour away in Pinal
County.
So there are no shopping malls, resorts or
nightclubs yet. With carloads of new residents
arriving every day, Maricopa city officials contend
a new demographics survey shows their young city
most closely resembles the Valley city with a
national reputation for affluence.
Valley's million-dollar hot
spots spreading out
Paradise Valley and Scottsdale used to be
metropolitan Phoenix's million-dollar home hot
spots but big-dollar buyers are beginning to
spread the wealth.
N. Scottsdale becoming
luxury-home hub
Wealthy part-time residents, deep-pocketed golfers
and affluent families have quietly transformed
north Scottsdale
into a luxury-home hub in less than a decade.
Lofts, an urban living trend,
catching on in Valley
High-end lofts are catching on in the Valley, an
area known for its affordable fringe subdivisions.
The urban living trend readily found in other large
U.S. metropolitan areas is finally gaining
popularity in downtown Phoenix and
Scottsdale. Hip, industrial-looking lofts are
becoming a hot investment for baby boomers and young
urbanites.
Biltmore
Villas stocked with details
The Villas at
Biltmore Jewel is a collection of 84 three-story
townhouses by Classic Communities. The units are
grouped together in buildings with as few as six
homes and as many as 17. The homes are loaded with
upscale features: wood floors, tile detailing,
under-cabinet lighting and crown molding. They even
come with wallpaper or faux-painting in the
bathrooms. There are no options or upgrades to
choose.
Maricopa County movin' on
up millionaire list
Maricopa County ranks fourth in
the United States in the number of millionaire
households. It counts 106,210, or roughly 8.2
percent of all households, as having $1 million-plus
in net worth. Orange County counts 113,299
households and took the third spot.
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In metropolitan
Phoenix, demand for new homes is expected to
continue to slow from last year's record pace as
builders sell through "spec" or speculative-home
inventories caused by buyers backing out of deals.
Analysts say the local housing market is returning
to a more normal pace after last year's frenzy.
Scottsdale developers still
highly optimistic
Skeptics might
question the depth of the Valley's luxury
condominium market but developers in downtown
Scottsdale remain confident their projects will
succeed.
In metropolitan
Phoenix, demand for new homes is expected to
continue to slow from last year's record pace as
builders sell through "spec" or speculative-home
inventories caused by buyers backing out of deals.
Analysts say the local housing market is returning
to a more normal pace after last year's frenzy.
DMB unveils
northeast Valley project
A well-known Valley
home developer is the latest player to firm up plans
for luxury live-work-play hubs in the northeast
Valley. DMB Associates Inc., the Scottsdale company
behind Verrado and DC Ranch, plans to build up to
1,100 residences and 1.8 million square feet of
shops, restaurants, hotels and offices with
underground parking on the northeastern corner of
Scottsdale Road and Loop 101.
Condos lined up for Central
A hotel on North
Central Avenue in Phoenix will be knocked down to
make way for condominiums in the increasingly
competitive midtown market.
High-rise projects send
central Phoenix soaring
For the first time
since the early 1990s, the center city of Phoenix
is sprouting cranes, a steel signal that private
capital is finally coming back.
Major obstacles and unknowns face the enterprise of
building a "24/7" downtown. But more than 30 major
skyscrapers are being proposed in downtown and the
Central Corridor.
Desert Showcase
