A lot has been happening recently in Arizona real estate news! How will these things affect real estate in your area?
First Up-Scottsdale Vs. The Sign Walkers
The battle in Scottsdale over street advertisers right to be there is still going strong. Scottsdale has had an ordinance banning “street walkers” from advertising in the streets or on the sidewalks since the seventies, however, it has been rarely enforced. The municipal leaders and some residents feel like the advertisers, who often dress up in costumes, or wave signs at motorists advertising services or goods, are at best a nuisance or eyesore, at worst a public safety issue. Advertisers consider these sign walkers an effective and valuable form of marketing that the state of Arizona actually protects. Scottsdale is the only city right now fighting against this form of advertising. The businesses and advertisers took this to court with the state and now the AZ Court of Appeals is going to rule soon on the debate. If they rule in favor of the sign walkers then the Scottsdale ban will be null and void, and could also “set a precedent on the extent of cities right to self govern” and if they rule in favor of Scottsdale, other cities and municipalities could begin to enact their own bans. It will be interesting to see how it all comes out. Sign walkers or not, Scottsdale is a beautiful place to buy a home or to buy an investment property! Call Morgan Hodges and Josh Hintzen-The Mojo Team in Scottsdale for more information!
Next Up – Tucson Market
The real estate news out of Tucson was great for the month of May! Some highlights:
- sales prices were up 5.8%
- numbers of home sales up 14%
- average number of days a listing was on the market fell compared to last year
- ⅓ of sales involved conventional mortgages
- ¼ sales were cash sales
All of this is great news not only for Tucson but for the state of Arizona. Real estate markets are getting better all over the state. Now is a great time to buy and sell here in AZ…let the Mojo Team answer all of your questions!
Last of All – HARP in Phoenix
It appears the popularity and helpfulness of the Home Affordable Refinance Program is waning in the Phoenix area. Although the program is being extended for another year, and can help qualifying homeowners reduce their monthly payment even if their are upside down in their mortgage, many Phoenix area homeowners just aren’t interested. Part of this is because the housing market in the area is starting to rebound “so many more homeowners can sell if they need to or refinance to even lower rates without using HARP”. Again, this is great news if you are looking to buy a home or investment property, or if you are looking to sell..the market is getting better all the time. The real estate news coming out of Arizona is exciting and positive!