Phoenix Development News (3)

[Diamonddave]

Originally Posted by CrestedSaguaro

I'm not sure if a new app is required if it expires. I think they just renew the original application. I've seen a lot of dated apps get re-submitted with the original dates.

I believe your right when any applications expires , they just renew that same appication. No new application has to be filed for.

[MMDelon]

We were just talking about Barrister and I think a new permit was submitted. It was on posted on the Barrister page lol. I don't think it means anything but found it funny that happened.

[fawd]

Fun article: Where Phoenix ranks among nation's 'most valuable' cities

https://www.bizjournals.com/phoenix/...le-cities.html



Not much stood out to me, just good information... but two thoughts:

1) Median home value in Phoenix is approaching $300,000 - which is within the top-half of this list. Cost of living is starting to get up there...

2) We all know San Francisco is expensive.. but my eyes watered when I saw that the median home price there is $1,000,000 now.

[CrestedSaguaro]

Originally Posted by fawd

Fun article: Where Phoenix ranks among nation's 'most valuable' cities

https://www.bizjournals.com/phoenix/...le-cities.html



Not much stood out to me, just good information... but two thoughts:

1) Median home value in Phoenix is approaching $300,000 - which is within the top-half of this list. Cost of living is starting to get up there...

2) We all know San Francisco is expensive.. but my eyes watered when I saw that the median home price there is $1,000,000 now.

Strange. Redfin lists Phoenix's median already over at $310,000. Either way, my hometown is only at $169,000. Maybe I'm in the wrong city...

[Classical in Phoenix]

Originally Posted by CrestedSaguaro

Strange. Redfin lists Phoenix's median already over at $310,000. Either way, my hometown is only at $169,000. Maybe I'm in the wrong city...

Depends on what "wrong" is.

[CrestedSaguaro]

Originally Posted by Classical in Phoenix

Depends on what "wrong" is.

Just making a quip/jab at how cheap my hometown is. This is generally due to the mass exodus that has been occurring there for many years leaving behind a surplus of housing that is hard to fill.


Anyway, back onto Phoenix stuff. This may be or may not be anything, but I've noticed that the grass where Palm Court Tower is supposed to go has suddenly started growing again this past week and the lot is mostly green again except for a few patches. After allowing the grass to die-out for the last several months, this makes me wonder if the tower may not be happening any time soon.

Didn't we have an inside guy at AZ Center at one time?

[biggus diggus]

Originally Posted by CrestedSaguaro

Strange. Redfin lists Phoenix's median already over at $310,000. Either way, my hometown is only at $169,000. Maybe I'm in the wrong city...

Is this based on redfin estimates or is it actual data from sold listings?

[fawd]

I'm gunna stick my neck out there and say 30k is within the margin of error. lol

[Obadno]

Zillow data is not accurate. My home is still on Zillow listed as being sold for 10k more than it actually sold for.

I would not take Zillow as accurate

[CrestedSaguaro]

Originally Posted by biggus diggus

Is this based on redfin estimates or is it actual data from sold listings?

Biggus, the article I found was based off national home sales data, but was posted by Redfin. I was going to post the link for you to take a gander at, but now I can't even find the article again. Figures.

Originally Posted by Obadno

Zillow data is not accurate. My home is still on Zillow listed as being sold for 10k more than it actually sold for.

I would not take Zillow as accurate

I didn't say Zillow.

Originally Posted by fawd

I'm gunna stick my neck out there and say 30k is within the margin of error. lol

Touché!

[J_PHX]

According to June sales, the median sale price was $305,000
https://armls.com/docs/2020-JUNE-STA...commentary.pdf

These monthly housing stat reports are very interesting and take in MLS data. From June you can see how the sales in May dipped because of COVID scare, but re-surged. You can see all/past months here: https://armls.com/statistics#stat

[xymox]

Originally Posted by J_PHX

According to June sales, the median sale price was $305,000
https://armls.com/docs/2020-JUNE-STA...commentary.pdf

These monthly housing stat reports are very interesting and take in MLS data. From June you can see how the sales in May dipped because of COVID scare, but re-surged. You can see all/past months here: https://armls.com/statistics#stat

Being in the market for a single family house - I can tell you that unless you want to be in some far flung area - trying to find a decent size home for $300k is not possible. If you want to be anywhere near anything - you're looking at $450k - $500k. And yes - homes are moving quickly - some I've found in Peoria were off the market before I could go look at them. And those were in the $600k range.

[Obadno]

Several years ago now Phoenix stopped being "cheap" and became average in terms of costs and prices.

There are good and bad things about this but it is the way it is.

For whatever reason it still has a cheap reputation even though its really not unless you are comparing it to the parts of the country that are expensive.

Cheap compared to the pacific coast and the Northeast corridor, not cheap compared to the Midwest, south, Texas, Most of Florida and all mountain states/plains states. The only standout being Denver housing prices which are slightly higher. I still do not understand why Denver has expensive housing they are certainly not limited on space.

[pbenjamin]

In early 2019, Toll Brothers obtained a stipulation modification to a previous zoning change at 31 E. Thomas. This is the property more or less behind Panera. It had previously been zoned for two 758 foot towers and one 514 foot towers. The new plan was for a 5 story multifamily residential development with 323 units wrapped around an 8 story parking garage.

Since the approval, the lot has remained empty, as Toll Brothers tends to do. The city did install a HAWK crossing.

It now looks like there is some activity on the lot.

[Code5]

Originally Posted by pbenjamin

In early 2019, Toll Brothers obtained a stipulation modification to a previous zoning change at 31 E. Thomas. This is the property more or less behind Panera. It had previously been zoned for two 758 foot towers and one 514 foot towers. The new plan was for a 5 story multifamily residential development with 323 units wrapped around an 8 story parking garage.

Since the approval, the lot has remained empty, as Toll Brothers tends to do. The city did install a HAWK crossing.

It now looks like there is some activity on the lot.

A 5 story.....with a parking garage even taller.....

Vs TWO 700 foot towers and a 500 foot tower?! These developers never cease to disappoint me....

[YourBuddy]

Yea that sounds really really dumb

[azliam]

Originally Posted by Code5

A 5 story.....with a parking garage even taller.....

Vs TWO 700 foot towers and a 500 foot tower?! These developers never cease to disappoint me....

What makes it worse is being a 5 story wrapped around an EIGHT story garage.

[biggus diggus]

I have a feeling the size of the garage and the hawk signal were part of an agreement with someone.

[PHX31]

Originally Posted by biggus diggus

I have a feeling the size of the garage and the hawk signal were part of an agreement with someone.

I think you're right.

Tons of people used to park in the site's old pay parking lot and walk across Thomas to the buildings to the north (phoenix financial center and the old qwest tower). They used to all jaywalk. They might have come to a shared parking agreement and installed the HAWK. If not, that is the dumbest placement for a HAWK ever. Much fewer peds will be walking across the street, and it's already really close to the central/thomas intersection and the light rail tracks as it is. I would think cars backing up to central when the HAWK is activated could be a problem.

[Code5]

Guys I need help! I have pictures to post, but I lost the name of the website that was mentioned here, that gives photos a website link....so I can post photos again! 😫😫😫 Please help!