With ASU’s 2^nd annual Phoenix Urban Design Week just three weeks away (April 4^th and 5^th), the Feast on the Street Saturday, April 13^th, bringing together people around a half-mile long dining table in downtown Phoenix, historic preservation a constant need (last year’s coffee-table book showcases the importance of preserving Midcentury modern buildings), and the need for more sustainable green practices, I got to thinking:

What are some of the most important steps a person should take if they’re thinking of buying a home in the urban revitalization we’re witnessing in downtown Phoenix?

Step 1:   Get involved with groups like Local First AZ, Roosevelt Row, Get Your PHX, and Phoenix Spokes People (urban bicycle action group with 450+ members, intent on making our streets safer for bicyclists).

Step 2:  Condo or House? I wrote about this in August last year and it’s just as relevant today.

Step 3:  Take a walk, ride, or bike through our Historic Districts.

Step 4:  Familiarize yourself with the schools. This handy link lets you search by closest intersection.

Step 5:  Where are the best coffee houses? Which ones have wi-fi? Arizona Coffee has a great city-wide list with links, reviews, interviews, etc. My office is conveniently located in monOrchid, right next to Songbird café, which I highly recommend.

When you stop by, poke your head into my office not 10 feet away and say hello! I’d love to share some more urban tips with you about finding a home in downtown or central Phoenix.

Ken Clark, Realtor
602-456-9388

This just in from the desk of my friend Jeannie Bolger, of Nova Home Loans:

There were some changes other than weather as of October 1^st this year. For those of your looking to buy a home, there were several mortgage changes effective last Saturday.

For those looking into FHA (Federal Housing Administration) loans the maximum loan has been reduced state wide. As you may recall, in 2008 a temporary boost to Federal Housing Administration-guaranteed loan was passed. That boost expired October 1^st and

In Maricopa County new loan limits are:

Anyone looking into VA Funding has noticed a decrease, sometime more than a full % for purchases, on funding fees.  Across the board these are positive changes, as the VA loan is already perhaps the best loan option available for today’s veterans and active duty service men and women.

Regular Military Funding:

Reserves and National Guard:

Beginning October 1, 2011, USDA Rural Loans have annual mortgage insurance (3%, paid monthly) and reduced the upfront guarantee fee on purchases from 3.5% to 2%. Unlike FHA insured loans, USDA’s annual insurance fee is for the lifetime of the loan, which is definitely something to think about when considering loans.

Loans can be complicated, but they don’t have to be. Contact Jeannie at (602) 385-4812 today for help.

And, of course, give me a call at 602-456-9388 for property questions.

For those of you who are not already privy to recent ongoings around Margaret T. Hance Park, I hope the following serves as a useful primer.

The Margaret T. Park sits like a leafy green roof over the 101 tunnel between Culver and Portland. This was the final place in America where I-10 was joined, completing the ribbon of highway connecting the Atlantic Oceanside of Florida to the Pacific beaches of California.

The 32.5 acre park, which is adjacent to the Willow, Roosevelt and Evans Churchill neighborhoods, is gearing up for a major repurposing.

Thanks to the Parks and Recreation Department of Phoenix and the park’s vision steering committee, Margaret T. Hance Park may be getting a major facelift very soon.  A thirteen member committee along with several ASU architecture and landscaping students are creating a master plan to be proposed in December for future, long term changes to the park while still preserving its historical integrity.

The park is already home to the Irish Cultural Center, Japanese Friendship Gardens, and the Jewish Heritage Center as well as many events, like next month’s Oktoberfest. The committee, whose meetings are open to the public, plans to propose new structures and additions which can benefit and increase park programming, such as an amphitheater for concerts and shows or basketball courts for local teams.

The project is just one of many around the community help to better downtown neighborhoods for the good of the public and its real-estate. Cindy Dach, a six month veteran of the committee, is a former New Yorker and knows how important parks can be to a community, especially downtown.  For Cindy, “parks are vital,” especially to those downtown who “may never otherwise see a tree.”

Cindy is also a board member for the Roosevelt Row Community Development Corporation, which promotes revival of downtown Phoenix by endorsing the arts and creative renewal of vacant downtown spaces. This weekend the Roosevelt Row CDC will be hosting a public seed planting for their Valley of the Sunflowers project on Saturday.

We are lucky to have people like Cindy and downtown advocate Sean Sweat involved in these projects.

Revitalization projects all over central phoenix are working toward the same goal: happier, healthier neighborhoods, engaged communities, and a flourishing downtown.

There you go, reason 1,487 why I dig CenPho and think you should, too.

Have a great weekend!

—————-

By the way, below is a rendering of one of the plans that was suggested in the 1960s to move traffic through Phoenix BEFORE historic neighborhood leaders got involved and fought for what became Margaret T. Hance Park. Do you get the feeling that we dodged a bullet?

The City of Phoenix is now offering a $15,000 loan towards closing costs and down payment to purchase a newly renovated “Move-in Ready” homes through their Neighborhood Stabilization Program.

The Neighborhood Stabilization Program is an effort in response to the number of vacant foreclosures in Phoenix neighborhoods. Housing programs are popping up all over the Southwest in hopes of turning foreclosures into affordable, refurbished homes and enhancing neighborhood curb appeal.

NSP is offering an extensive catalog of renovated properties in established neighborhoods as well as providing guidance through the entire process.

To qualify, home buyers must meet these requirements:

1. Applicants must meet the income guidelines for household Family size. For Example, A family of 4 must have an income at or below $78,600 annually to receive the loan.
2. Candidate should be able to qualify for a 15 or 30 year fixed mortgage
3. Though you don’t have to be a first time home owner, you can’t currently be on title on any residential property.
4. Applicants must be able to contribute one half of the home’s required cash down payment for a min. $1,000. For example, a $100,000 home would require a $1750 down payment.
5. All loan hopefuls have to take a two hour one-on-one credit counseling and an 8 hour home buyer education class

A word of caution: I have helped buyers through this program. Half of the time it went smoothly and relatively quickly. The other half of the time it took longer and everybody was pulling their hair out. Now, to be fair, that was mostly because the listing agent’s contractors were not doing the basic things that the city inspectors asked of them.

Further, that was in 2010. Now NSP has homes that are already renovated. So, this is a whole new world from when the program just got started.

Regardless, families state-wide are in a great position to be homeowners in great phoenix neighborhoods. My friend Jeannie Bolger, of Nova Home Loans let me know all about this program and, as a mentioned a few weeks ago, she is experienced in these loans and could be a huge help in the process.

You can visit www.phoenix.gov/nsphome to view the Move In Ready list of available homes or give me a call today at 602-456-9388.

It was nice to see this article in the Arizona Republic yesterday talking about a “rebound” in the condo market in Phoenix.

I don’t know if I would go so far as to call it a rebound. In fact, several of the projects the article talks about are still not sold –they turned in to apartment buildings instead.

However, the article does point out something that I’ve been saying for a while: an increasing number of people want that dense, urban experience. That is why 44 Monroe, for example, filled up with renters so quickly.

So, while you can still get a great condo downtown and in CenPho right now for much, much less than you could in 2006, and while the market for condos has not completely righted itself it is true that the inventory of condos in CenPho has dropped sharply over the past year. They are being gobbled up!

This demand should be an indicator to anybody, whether buying a house or a condo, that urban centers are going to be in great demand once the market stabilizes. If you are holding on to your house to sell later, have hope. If you are thinking about getting in to CenPho, now is a good time because it will be more expensive a year from now.

I’ve made the jump from John Hall to HomeSmart. I’m sure this means nearly nothing to most of you. But I want to explain to you why and what this means.

I chose to work with my former broker, John Hall & Associates, because they were locally owned. Re/Max, Realty Executives, Century 21 –these are all nation-wide broker and really, really big companies.

But, like many of you, I believe that we need to keep our dollars in our local economy. The fees that brokers take from agents could go to some corporate headquarters somewhere in Ohio, or they could stay here and add to our economy. This is why I am a member of Local First Arizona and I support locally-owned businesses.

Well, John Hall sold itself to a company called Realty One Group, out of Nevada. It did not take me long to realize that this was in opposition to what I believe.

I was happy to learn, however, that HomeSmart is locally owned and originates in Arizona. They have well over 1,000 agents and a very effective system for processing transactions.

This means little or nothing to you, the buyer or seller. But I want you to know that, even in decisions like this, I am committed to CenPho and my state.

I appreciate your business.

The Phoenix Business Journal recently praised Phoenix for boasting “one of the nation’s top clean economies” in the nation. It seems they would be better off praising Warren Buffet for getting a part time job at McDonalds.

What I mean is why is Phoenix only ranked 20^th? This beautiful city is ranked behind other cities such as New York, Chicago, Washington, and Philadelphia. And the last I checked we are one of the sunniest cities in the nation.

Want to know something even more pitiful? Phoenix added only 4,000 jobs between 2003 and 2009, ranking it 34^th in the nation.

34^TH!?!

I realize I shouldn’t be so negative since Phoenix does boast almost 23,000 jobs in the clean job sector.  Any job is a good job, right?

But I still can’t get over the fact that this is a far cry from what it should be given our prime location for clean renewable energy. In fact, the Phoenix area has the potential to power the entire state with solar energy. Not only that, but clean renewable energy brings high-paying jobs and can help stabilize our local economy and the Phoenix real estate market! This is a no-brainer and we need to take advantage of our amazing location.

Granted there have been large energy companies taking root in the Phoenix area, First Solar Inc. and Suntech Power Holdings, but it seems to be the economy that is holding other companies back.

I have a friend at a large employee placement firm who is telling me that they are placing many new employees in Arizona as renewable energy jobs are created. But, he says, we could be moving so much faster if we can just get over the economic hurdle.

“When the capital markets get going, you’re going to see the market really take off,” said Steve Zylstra, president and CEO of the Arizona Technology Council.

Until then, write your legislator and tell them we want solar jobs today!