New homes soon will go up on the former site of the Mountain Shadows resort in Paradise Valley.
Cullum Homes plans to build 40 multimillion-dollar houses on the eastern edge of the 68-acre site at 56th Street and Lincoln Drive. The $100 million development is called the Village at Mountain Shadows.
There is a lot of doom and gloom out there about Zillow's plans to buy Truila, and some anger, too. As a real estate agent, I find it perplexing that Zillow and Trulia's customers are real estate agents — not homebuyers or sellers.
Real homebuyers and sellers don't care about you or about your website. They just want to buy or sell a home.
All real estate is local, an industry maxim states, but a new real estate market trends report issued by the National Association of Realtors finds that "a significant share of home purchases are made by people whose primary residence is outside of the U.S."
For the period April 2013 through March 2014 total international sales have been estimated at $92.2 billion, an increase from $68.2 billion from the previous comparable period. In 2014, nearly 60 percent of reported international transactions were all cash, compared to only one-third of domestic purchases.
Read more...http://millionairecorner.com/Content_Free/Real-estate-market-trends.aspx
Existing home sales in the West were off 7.3 percent in June from a year ago and 2.3 percent nationally, according to new figures out today. This comes after other statistics already this month showed Phoenix with the biggest slowdown among major U.S. markets in home asking prices between June 2014 and June 2013.
Laggard wage gains are also not keeping up with rent prices, making it harder on some tenants and putting some downward pressures on multifamily rates.
