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Tempe, AZ Real Estate News

By Steffy Hristova, Tempe AZ Realtor - Your Home Close to Your Work!
(HomeSmart Elite Group Tempe AZ Tel: 602.710.8161)
This blog is about Jacki Tait, CLHMS, a wonderful ActiveRain blogger and real estate agent, living and working in Flagstaff AZ. Last year Jacki wrote a memorable blog post, "What to Love about Flagstaff AZ". When you click on the link, you will immediately know why it is memorable - sincere, friendly writing, well-researched content and videos. Evergreen content.For people like me, living in the Phoenix metro area, Flagstaff Arizona is an attractive getaway destination in all seasons. It allows for a spontaneous day trip. I remembered Jacki's post when I decided to go cross-country skiing at my favorite Nordic Center this April. I was getting frustrated why I cannot find anywhere cross-country ski rentals and finally decided to call Jacki. She picked up the phone right away; she knew wh...
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By Tom Tokoph
(Urban Realty & Development)
Bridgeview at Hayden Ferry Lakeside is currently the premier development in downtown Tempe.  Perched beside Tempe Town Lake, the watery blue glass structure boasts amazing amenties.  Full time concierge service, billards room with a theater, gourmet kitchen and a club room are just a few of the special features Bridgeview residents experience.  These are on top of the amenities one has come to expect like a swimming pool, jacuzzi, work out rooms, spa, etc. If you are looking to purchase a property in this amazing development, this unit may be just the deal you are looking for!  Urban Realty has just reduced our client's property by $50,000.  This makes the property $100,000 less than the next comparable unit available through the developer. To see much more information about this proper...
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By Nick Bastian, Real Estate Agent - Tempe
(Realty Executives)
The new AZ light rail system opening in December looks pretty easy to use. Much of the 20 mile route contains 2 sets of tracks where the cars will pass each other. At each station, you simply board a train heading in your desired direction. For instance, most stations are built in the middle of the street. If you are in Tempe and want to ride to downtown Phoenix for work or for a sporting event, it is a pretty short trip and you have several options. Let's use boarding a train at one of the four Apache Boulevard stations as an example. You will enter the station and the west bound train will pick you up on the north side of the station while the east bound trains allow passengers to board at the south side of the station.  Now, let's use a baseball game as an example: I have talked to a...
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By Tom Tokoph
(Urban Realty & Development)
August 21, 2008 UPDATE: CVS Pharmacy officially opened their doors this week on the corner of Mill Avenue and University in the very heart of Downtown Tempe.  This is exciting news considering that our long awaited grocery store (Whole Foods) has now been put on hold.  While it may not be a daily shopper for most, this little CVS is surely located in the perfect spot providing the downtown Tempe resident with a walkable spot to pick up milk, eggs, beverages, and many other typical household needs.  While it isn't all we had hoped for (like a Whole Foods), it is definitely the next step in helping make downtown Tempe truly urban!   CVS GRAND OPENING   We think the CVS signage is a bit oversized, but it is obvious everyone made a nice effort to urbanize the store. (The store was pushed ou...
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By Tom Tokoph
(Urban Realty & Development)
August 20, 2008 UPDATE: According to a report in the Phoenix Business Journal, the Centerpoint Condos development may be close to finishing a deal with a lender to fund the remaining $75M to complete the project.  Not all too surprising, the money looks like it will be "funneled" through Mortgages Ltd after all.  Just a little speculation on our part, but our guess is that the new money is coming from an investor or a group of investors who were involved in the original loan of $132M from Mortgages Ltd to the Centerpoint Condos and this will insure that the investors will not be required to take a second position to the new financing.  No facts there, just speculating. What remains to be seen is how the developer plans to sell these new condos at the same prices as before.  The construc...
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Marjon Rostami of the Arizona Republic Reported that ... Since the first quarter of 2007, more than two-thirds (2/3) of the Condominium Conversion Projects in Tempe, Chandler and Gilbert have reverted back to rentals. The condo conversion market was hot, however, has died in the last 12 months. One of the major hurdles facing sales is that many of these communities did not reach the 50% sales mark to owner occupants. Without that 50% threshold, the FHA will not insure loans. Thus, no down payment assistance or Fannie Mae , Freddie Mac underwriting. As a result, It may be many years, until Condo conversions communities return to sales. - Daniel Wexler
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Nature! I was reading the National Home Builders article and stumbled across this piece of information that nature is the hot new amenity. It used to be kitchens, bathrooms and closets.  Are you looking for something totally different to do? Well, here it is! Nature lovers must attend. This has to be one of the most fun evenings ever. The condo project I sell, sits adjacent to Papago Park, so I felt everyone needs to know about this little adventure. Although we are an urban setting, we are very close to this desert escape. The Desert Botanical Gardens at Papago Park conducts flashlight tours through August 30th?  See night blooming plants and fun little creatures. This is very popular since it recommends reservations. They provide the flashlight. If you don't like nature you can beg of...
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By Tom Tokoph
(Urban Realty & Development)
UPDATE: On Thursday, August 14, 2008 the East Valley Tribune interviewed the developer of the Centerpoint Condominiums, Ken Losch.  This provides the Tempe community with a good update on the current status of this key development in the heart of Downtown Tempe. CLICK HERE TO SEE VIDEO INTERVIEW WITH KEN LOSCH CLICK HERE TO READ THE FULL TRIBUNE ARTICLE
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If you are looking for something to do in Tempe, I have a great suggestion.  Whether you're new to Tempe or have just never been to the Tempe Improv; you're in for a treat.  Some of the best comedians and actors got their start here.  This weekend D.L Hughley will be performing.  D.L. was one of "The Original Kings of Comedy" along with the late Bernie Mac.   D.L can also be seen as the newest host of "Def Comedy Jam" on HBO.    D.L will be at the Improv Aug. 14,15,16, & 17th.  Shows start at 8PM. For ticket information visit www.tempeimprov.com    
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By Tom Tokoph
(Urban Realty & Development)
As previously discussed on this Blog, the little "found" retail space behind the post office at the corner of Mill Avenue and 5th Street was under construction and ready to accept a new tenant. (Earlier Post)  Now, the space has officially opened it's doors as the "Thirsty Dog 2 Go".  This very unique space is part urban convenience store, part liquor store and part gourmet hot dog stand.  The Mill Avenue or downtown Tempe resident can now find a very convenient place to pick up snacks, assorted beverages, cold beer, wine and while they are at it... enjoy a savory dog!  This is really a great addition to Mill Avenue!Granted, a hot dog slash convenience store isn't normally something that the typical Mill Avenue hipster would get too excited about.  It isn't a wine bar, it isn't organic,...
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By Justin Rollins
(West USA)
Below is a list of schools to help if you are planning a move to Tempe, Arizona.   I have provided links to the school district websites if you want to learn more about each school.  Also, feel free to give me a call at 602.714.1012 or email me at justin@nobotherlisting.com. I can share with you which neighborhoods tend to be more "family" oriented, discuss the real estate market in general, and assist you in finding your dream home.  If you'd like to search the MLS for free click the yellow button below   Tempe Elementary School District 480-730-7100 www.tempeschools.org3205 S. Rural Rd. 85282 Elementary Schools Aguilar Elementary School                                                                                                                480-897-2544                           ...
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By Tom Tokoph
(Urban Realty & Development)
Downtown Tempe has long been home to creative and interesting urban spaces.  Now that tradition continues with Vic Linoff & Stu Siefer's plans for the alley way behind Mill Avenue.  Thank goodness for these creative types who keep reinventing our much loved Mill Avenue district!  Full story below:     Mill landowners creating euro-style alley   by Dianna M. Náñez - Aug. 8, 2008 The Arizona Republic A wave of luxury condos sprouting in downtown Tempe has some wondering if Mill Avenue is trading the last of its bohemian charm for a cookie-cutter Scottsdale setting.Some say bringing an upscale feel to Mill is key to ensuring that residents who can afford to live in pricey condos are getting the type of shopping they want.But one longtime Mill Avenue landowner said it is possible to market ...
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By Tom Tokoph
(Urban Realty & Development)
South-Bank released a contsruction status update today.  The 27.3 acre urban community broke ground in April of this year and the infrastructure is now 60% complete.  They also released this great new rendering (below) of the site and we continue to be very impressed with the size and scope of the project.  In our opiniuon, only Hayden Ferry Lakeside, directly to the West of the development is more grand in its scope!
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By Nick Bastian, Real Estate Agent - Tempe
(Realty Executives)
I am very fortunate to have built a business in real estate that is focused on the trust of past clients and on personal relationships. In this challenging market, I believe it will be the agents that didn't recently jump in for a "fast buck" that will come out on top. Not only do I enjoy keeping in contact with past clients, I also enjoy keeping in contact with top-notch agents and lenders from all over the country. These relationships help me to keep up on trends, industry news and ways to constantly improve my business. I recently attended 2 real estate conferences in San Francisco and was blown away at the quality of people I met. The main focus of the groups I attended was how to better serve our clients through social media, blogging and networking. The picture below is of one of ...
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By Chuck Willman, NewHouseUtah.com
(Chuck Willman)
What to do on a summer day? How about cooling off at the Tempe Beach Splash Park? That's what we decided to do yesterday. Juxtaposed between Tempe Arizona's famous Mill Avenue District and the Tempe Town Lake is this little oasis. What better way to beat the heat than to ride the slides and step among the splash pads? With school just around the corner this was one more opportunity to finish off the summer.
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By Tom Tokoph
(Urban Realty & Development)
As we previously posted here, the new wave of "good for you" yogurt shops (ala PinkBerry, Red Mango, etc.) have been looking at coming to downtown Tempe.  Now, it appears they are coming into town full force!  THREE new yogurt shops will be opening very soon!  It appears we will have the following hip yogurt shops to choose from in the very near future.  1. "Bliss" Yogurt at the Brickyard on Mill, 2. "IN Yogurt" at the corner of 5th Street and Mill Avenue. (By the way, we have some high hopes for INYogurt as it was created by the same folks who brought us "The Gelato Spot".)  3. "MOJO Yogurt" on Mill Avenue in what was formerly the Quizinos.  Yum... we can already taste the tart goodness and fresh toppings!   New construction at the corner of 5th & Mill will include "In Yogurt"   Banner...
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By Tom Tokoph
(Urban Realty & Development)
Here is a press release dated August 1st from Avenue Communities regarding Centerpoint Condominiums All Projects Not Affected Equally  Centerpoint Condominiums in Tempe to Secure New Financing, Settlement Outside of Mortgages, Ltd. Restructuring  Centerpoint Models to Open Mid-September; Media Invited for Sneak Preview of Centerpoint’s Models and Penthouses with Developers on August 20   TEMPE, ARIZONA.  August 1, 2008.  Recent media reports have frequently grouped together various development projects financed by Mortgages, Ltd., creating the perception that all have been affected equally.  They have not.    Centerpoint’s first tower at 22-stories is nearly complete, and construction work continues on the 30-story tower.  Of the 171 condominium homes in Tower One, 164 are complete and ...
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By Doreen McPherson, Phoenix Arizona Real Estate ~
(Homesmart ~ Scottsdale ~ Tempe)
Bicycle Safety in Tempe AZ   Tempe is a bicycle friendly community.  We have bike lanes on many of our streets and they are normally very easily defined.  I had to be out and about at around 4 AM this morning and had a bit of a scare.  Due to recent resurfacing on a major road here in Tempe, some of the lane lines are still missing.  A large portion of this street was replaced recently and while the auto lane traffic lines have been repainted, the bicycle lane lines are not yet in place.  I was traveling below the speed limit and still missed seeing the rider until the last second.  Even though I managed to swerve quickly to put some distance between us, it was still too close for comfort.  The rider was wearing dark clothing and had no lights on his bicycle, his pack, his person, none...
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By Tom Tokoph
(Urban Realty & Development)
And the beat goes on! In a news report in the Arizona Republic today (Article) it was reported that Mortgages Limited is working on a plan to give Avenue Communities additional funding-- about $4.5M to be exact.  This would allow the developer to secure the nearly completed high rises from the elements.  Mortgages Limited has said that this would be part of a larger plan to provide additional funding to Centerpoint in the future.  According to the report, Mortgages Ltd has met with undisclosed lenders who are willing to give Centerpoint additional funding.  Of particular note, the report claims that the attorney for the investors (who have already placed approximately $132M in the Centerpoint development through Mortgages Ltd) said that the investors would be willing to subordinate thei...
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By Doreen McPherson, Phoenix Arizona Real Estate ~
(Homesmart ~ Scottsdale ~ Tempe)
MACAYO’S AN ARIZONA FAVORITE   I’ve been eating at Macayo’s Mexican Kitchen for years! I ate there when I lived in Tucson and have been doing the same since I moved to the Valley of The Sun in 1983. For years, when I worked in Phoenix, we made Macayo a lunch stop on a regular basis. We have our very own Macayo, AKA Depot Cantina, in the heart of downtown Tempe. Don’t fret if you can’t get there from here. If you live in east Tempe, you have the option of visiting the Macayo in west Mesa. Or if you live in south Tempe, check out the Macayo in Ahwatukee. As you can see, it’s pretty easy to get your Macayo fix if you live in Tempe Arizona!
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By Doreen McPherson, Phoenix Arizona Real Estate ~
(Homesmart ~ Scottsdale ~ Tempe)
  Ted’s Hotdogs Tempe Arizona     Are you from New York?     Do you long for a ‘certain’ type of dog?                 Well, we may have just what you need, right here in Tempe Arizona!           Located at the southwest corner of McClintock and Broadway you will find Ted’s Hotdogs.   What makes Ted’s unique?     The Tempe location is the only location outside of New York.         I stopped in the other day for a quick bite, had a great hotdog and the biggest order of onion rings I have ever seen.        I could not finish them… that’s just not normal for me!                       That orange milkshake was pretty darn good, too!               I'll let you know when I go back and check out some of the other items on the menu...     Graphics courtesy of iCLIPART.com      
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