Many people are starting to look at distressed properties (foreclosures and REO) as a way to get around the escalating homes prices in the past four years. This is a true catch 22 in the urban market. Many of the distressed properties are due to investors who were looking to flip for a profit. I don't believe buying distressed property in the urban market makes sense since investors all flocked to the same developments and ultimately there will be multiple (sometimes at-least 50%) that are in trouble. This causes the "falling knife" scenario where you might feel your getting a good buy on a particular unit but the entire building still has allot of inventory and pricing pressure that may continue past your price point.  Smaller projects are somewhat the exception with limited exposure a... 01/17/2008

Of course Austin but wouldn't it be great if Tempe embraced lessons from Austin to become this cool, eclectic and musical area within Phoenix? If you take a look at the neighborhoods west and southwest of downtown Tempe, you'll start to remember your last trip to Austin. If you've never been to Austin, get on a plan ASAP so you know what a great opportunity Tempe has. Older homes mixed with newer modern developments. Large shade trees and desert landscape throughout. Younger and older mixing seamlessly and comfortably. Small shops with larger mainstream retail options. Restaurants that mix music and art in a fun way.  Some of the best new urban projects are located in Tempe (Farmer Lofts, Tempe Urban Living, Fifth Street Lofts, Millstone, Sienna Court, etc..) If you want to check some o... 01/15/2008

Many people ask me what my outlook is on housing in the urban core. This question is quite common and I completely understand why people need to ask the question. The real issue is NOBODY ever knows and if you try figuring that question out you'll be busy like the cat chasing it's own tale. If anyone could truly answer that question, they would create a product around it and make billions. So the reality is nobody knows. However, there is a way around this whole issue and it's right in front of you. It's the same old adage in real estate--location, location, location. Find property closest to all the things you find in the city (sporting events, arts, airports, parks, etc...). Next, look for the a smaller project with excellent construction. Next, find some distinctive architecture and ... 01/15/2008

If you are looking for something interesting to do while in Arizona, or if you already live in Arizona, you may want to check out Tortilla Flat. Tortilla Flat is the last remaining stage coach stop along the Apache Trail. The location is 2 miles past Canyon Lake. While getting to Tortilla Flat you will enjoy amazing scenery along the way through the Superstition Mountain Wilderness. Once you are at Tortilla Flat, which has a population of 6, you will find a souvenir shop, an old fashioned ice cream shop, western saloon and a post office. Tortilla Flat is located 18 miles North-East of Apache Junction Arizona on Highway 88, which is the modern version of the historic Apache Trail. For more information about this unique Arizona attraction, visit their website http://www.tortillaflataz.com... 09/11/2007