New home buyers will pay for Arizona's construction worker shortage

Metro Phoenix led the nation for losing the most construction jobs during the housing crash.

Read more... https://www.azcentral.com/story/money/real-estate/catherine-reagor/2018/09/04/new-home-buyers-pay-arizonas-construction-worker-shortage-unemployment-builders/1192500002/

Builders want to move homes, meet goals as year ends

Think year-end sales are only important to auto dealers? Think again.

Plenty of successful companies want to reach fiscal goals by the end of the calendar year, and homebuilders aren't any different.

Read more... http://www.azcentral.com/story/money/real-estate/2015/10/08/builders-want-move-homes-meet-goals-year-ends/73062136/

Gilbert leads Valley in new-home permits for 2013

 

Gilbert once again led all Valley municipalities in new-home permits in 2013, the third consecutive year the town has ranked as the region’s busiest homebuilding hot spot, according to data acquired by The Republic.

The fast-growing community issued 1,927 single-family home permits last year, outpacing much-larger Phoenix and totaling more than Mesa and Chandler combined, data show.

Such numbers provide statistical evidence of a reality many Gilbert residents are witnessing on a daily basis as new master-planned communities and infill developments bring thousands of people to the area.

Read more...Gilbert leads Valley in new-home permits for 2013

‘Little progress’ seen in metro Phoenix's new-home building

Higher prices, along with several other factors, are among the challenges to the recovery of metro Phoenix’s new-home market.

The median existing home price in the region is now $178,000, compared with the new-home median price of $301,904, according to RL Brown Reports.

The gap isn’t expected to shrink anytime soon, said real-estate analyst RL Brown during his annual housing forecast on Thursday.

Last year, 12,785 new-home permits were issued Valley-wide, up from 11,615 in 2012. But the figure was well below the 14,000 to 16,000 projected earlier last year for 2013.

Read more...‘Little progress’ seen in metro Phoenix's new-home building

Gilbert council switches gears, will allow zoning change for homes

Believing a long-vacant commercial corner near the Islands neighborhood in Gilbert may never produce a shopping center as originally envisioned, the Town Council this month approved a zoning change to instead allow 44 new homes at the southeastern corner of McQueen and Warner roads.

A Canadian company has since purchased the 11-acre parcel for $2.1 million and plans to begin development on a single-family community “in the near future,” according to land broker Cushman & Wakefield.

Read more...Gilbert council switches gears, will allow zoning change for homes

Scottsdale council approves 3 new housing developments

 
The Scottsdale City Council has approved three new housing developments, two near the Boulders Resort and one in the East Shea Boulevard corridor.

The three are called Boulders Villas, Hawknest, and Scottsdale Mountain Villas.

Boulders Villas — The development on 18 acres at Westland Drive and Scottsdale Road will have 40 units. Zoning was changed from commercial to suburban residential for the project. The land is owned by Klondike Land Portfolio and Boulders Joint Venture, with Klondike owning more than 90 percent of it. The initial proposal for the site was made 10 years ago. Taylor Morrison Homes will develop the land.

Read more...Scottsdale council approves 3 new housing developments

Labor complaint filed against Fulton Homes

In a rare move, the agency that oversees and licenses contractors filed a complaint against Tempe-based Fulton Homes related to unlicensed labor on its property.

The complaint, filed Oct. 25, potentially signals a shift in state regulators’ efforts to enforce unlicensed labor laws by targeting a prominent company at the top of the construction food chain.

Read more...Labor complaint filed against Fulton Homes

W. Valley homebuyers seeing housing prices skyrocket

Tricia Williams is painfully aware of the housing market rebound that began in 2012.

She and her husband began looking for a home along Happy Valley Road near Interstate 17 in early 2012, just before prices began increasing dramatically. Their wish list included 2,500 square feet and four to five bedrooms for less than $200,000 within the Deer Valley Unified School District.

They put in two other offers in the north Phoenix and Peoria area, but were outbid within a week for one and within a day for the other. They didn’t place counteroffers.

“I wasn’t going to get into the bidding game,” Williams said. “It’s not worth it. There’s been no house that I’d want to do that with.”

Instead, they opted for fewer bedrooms and a mortgage payment that was higher than hoped.

Read more...W. Valley homebuyers seeing housing prices skyrocket

Mesa Approves Revised Site Plan for 145 Single-Family Homes near Las Sendas | Arizona Builders Exchange

The Mesa City Council on July 8 approved a revised site plan for 145 single-family homes next to east Mesa community Las Sendas, after several residents who’d lambasted the initial proposal came out in support of the modified version.

The residential development will occupy 23 acres, or about one-third, of a larger swath of land near McDowell and Power roads known as Parcel 51.

The full property for years had been set aside for a business park, until the city in the late 2000s approved a plan reserving the northern piece for 180 condominium units. Ryland Homes later decided to swap the proposed condos for 145 single-family homes, believing the updated plan would attract young families, young professionals and empty-nesters.

Read more...Mesa Approves Revised Site Plan for 145 Single-Family Homes near Las Sendas | Arizona Builders Exchange

Beazer Homes buys 177 lots in Phoenix for $9.5 million - Phoenix Business Journal

Atlanta-based Beazer Homes USA Inc. (NYSE: BZH) has scooped up 177 partially-finished lots in south Phoenix for $9.5 million with plans to lay the groundwork for a new subdivision over the next several months, according to a statement Tuesday from Cassidy Turley.

The lots are situated within the Artesa subdivision, which is located just south of Baseline Road on 43rd Avenue in the Laveen area.

The seller was an entity controlled by Crown West Realty LLC, the same Washington state-based company that is facing foreclosure on the Phoenix Corporate Center office tower, Fennemore Craig PC’s former home, near Thomas Road and Central Avenue.

Read more...Beazer Homes buys 177 lots in Phoenix for $9.5 million - Phoenix Business Journal

Home projects proposed in Scottsdale as economy heals

New-home projects are being proposed in Scottsdale by the dozen as the recession loosens its grip and the economy shows signs of recovery.

At Thursday’s meeting of the Development Review Board, aspects of three projects were considered. Earlier, the board had approved nine other projects. The review board is the first step in the approval process for home developers and others wishing to change zoning on a parcel of land. The board’s recommendations go to the Planning Commission and ultimately to the City Council.

Read more: Home projects proposed in Scottsdale as economy heals

APS, solar industry at odds on value of power from rooftop units

Arizona Public Service Co. and the solar industry have published conflicting studies estimating the value of rooftop solar panels, foreshadowing a debate that will determine the future of the budding solar industry in Arizona.

The APS report says that people with rooftop solar are being overpaid for the excess electricity they generate, which is directed to the power grid when they are not using it. The solar-industry report said those customers are being underpaid and that their solar panels provide value to the utility by helping APS avoid expenses like new power plants.

The two sides are making their arguments as APS prepares to ask regulators in July for a reduction in its credits. The five Arizona Corporation Commissioners will decide whether to keep or alter the payments.

Read more: APS, solar industry at odds on value of power from rooftop units

Verrado homebuilding showing signs of life in Buckeye

Construction crews haven’t turned over much dirt during the past seven years in Verrado.

That has begun to change. Homebuilders are putting houses on long-dormant lots in the Buckeye master-planned community and the developer is readying a large chunk of land for hundreds of new homes.

Also, Verrado’s developer, DMB Associates Inc., has revived plans for a community for residents 55 and older, which could one day include thousands of homes.

Although the new-home market is showing signs of life, Verrado still struggles to attract new shops and businesses to the community.

Read more: Verrado homebuilding showing signs of life in Buckeye

New builder starts work in Surprise's Greer Ranch

Dallas-based homebuilder Gehan Homes is ready to start construction on scores of homes for its Hacienda at Greer Ranch community in Surprise.

Gehan Homes CEO Tim Gehan, who co-owns the company, said he wants to take advantage of a new growth cycle as Surprise’s master-planned communities begin building again, waking up from the recession’s dormant period. The Gehan Homes building plans extend beyond Surprise.

The builder is constructing homes in Bridges of Gilbert, Peoria’s Vistancia and Goodyear’s Palm Valley. Model homes should start going up in Vistancia in June or July, with building on all sites starting by the end of the year.

Read more: New builder starts work in Surprise's Greer Ranch

US New Home Sales Drop as Prices Rise

Sales of new U.S. single-family homes fell more than expected in February after hefty gains the previous month, but steady gains in home prices suggested the housing market recovery remains intact.

The Commerce Department said on Tuesday sales dropped 4.6 percent to a seasonally adjusted annual rate of 411,000 units. Last month's decline followed a 13.1 percent jump in January.

Read more:  US New Home Sales Drop as Prices Rise

New Home Sales Rise Sharply in January, Inventory Slides

The U.S. Census Bureau this morning released data on new single-family home sales for January. Sales rose 15.6% month-over-month, to a seasonally adjusted annual rate of 437,000, from a revised December sales figure of 378,000. Economists had been expecting a seasonally adjusted annual rate of 381,000. The January rate is 28.9% above the rate for January 2012. At the peak in 2005, new home sales posted a seasonally adjusted annual rate of nearly 1.4 million.  Read more...  http://247wallst.com/2013/02/26/new-home-sales-rise-sharply-in-january-inventory-slides/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FRyNm+%2824%2F7+Wall+St.%29