Arizona?s Real Estate Market ?08

October 19, 2010

Arizona’s economic outlook has received mixed reviews by leading economists. The consensus is that Arizona will likely experience decelerated growth throughout the first half of the year, with in all likelihood the economy will show signs of improvement towards the end of the year.

A positive close to 2008, will depend on the strength of Arizona’s housing market leading into the final quarter of the year. An important factor for judging the overall strength of the economy, in 2008, will rely heavily on the housing industry not experiencing any drastic changes or unforeseeable obstacles.

Marshall Vest, Economic and Business Research director for the University of Arizona stated, “It will be a number of months before economists can say for sure that Arizona’s economy is contracting, but recent trends in the data that we do have are ominous.”

There are many indicators which have Vest and many other economists concerned for Arizona’s start to 2008, which includes: employment and the introduction of the employer-sanctions law; automotive sales and retail sales in general; new home sales and inventories, resale home prices, and building permits; and employment growth in health, manufacturing, and mining sectors.

There is good news! Mainly the economic diversity and export-oriented industries, in Arizona, which are expected to experience continued growth. Arizona, in regards to taxation, is a very appealing state for entrepreneurs; so we can expect a continued influx of new businesses, including residents, and tourists.

What does this mean for Arizona’s real estate market?

Georganna Meyer, Chief economist for the Arizona Department of Revenue said, “I expect the real estate market and contracting to continue to have reduced activity in 2008, but recovery should begin in 2009. As a result, I expect state tax revenues will grow only slightly in 2008, if at all. Whether we’re in a recession or not, the results will be the same.”

In general, the declining number of construction permits will reduce builders’ inventories, helping to stabilize Arizona’s housing market and returning it to pre-boom growth patterns. Home values will also show a decline to start the year off, due to foreclosure and restrictive lending practices, which will make Arizona more appealing to new residents. The local job market and entrepreneurial appeal will likely contribute to Arizona’s predicted rebound late 2008.

Information Source:

Beard, B. (2007). The Arizona Republic, Arizona’s economic challenge for 2008.

The Prescott Arizona Real Estate Market

August 22, 2010

Prescott, Arizona has the prestige of being the first capital of Arizona. It was established back in 1863 in what was then the Arizona Territory. Though the current capital and largest city of Arizona is Phoenix, the Prescott, Arizona real estate market is still an attractive place in which to invest

Visitors with a taste for history may like to wander around the Prescott, Arizona because of the aging buildings that still stand and have made it to the National Register of Historic Places. In this Arizona real estate market alone, Prescott is home to 525 structures that are listed on the National Register. Aside from the fact that many examples of Victorian architecture still exist here, the Prescott, Arizona real estate market is still remarkable because it is said to be the Southwest City with the most Midwestern appearance.

The area around Prescott, known as the “Quad Cities,” consists of Prescott, Prescott Valley, Dewey and Chino Valley, AZ. This area is among the fastest growing areas in the state. This is largely due to the favorable climate in the area. It’s not nearly as hot as Phoenix and the rest of the central and southern part of the state. And you won’t experience the extreme winters as you’ll find up north in Flagstaff and Williams. It’s a very nice and comfortable medium.

Yavapai County is the second fastest growing county in Arizona. The City of Prescott is the largest urban area within the county. The city’s growth has been steady at about 4 per cent per year for the past decade and is expected to continue at that rate. More than 100,000 people reside in the Quad-City area.

With local primary employers like Yavapai County, ACE Distribution, Lockheed Martin, Wal-Mart, and Yavapai Regional Medical Center and the Prescott Unified School District, the Prescott area has established a solid industry base. It is a mild four-season climate and faces few natural disasters making it ideal for companies in the IT area.

If you are considering a move within the Prescott, Arizona real estate market, your kids will recieve a quality education, because Prescott is home to many fine educational institutions. For instance, the charter school Tri-City College Prep High School was placed under the “Excelling” category by the Department of Education. Certain schools in the Prescott Unified School District also garnered “Excelling” status, namely, Washington Traditional School, Taylor Hicks Elementary, Prescott High School, Granite Mountain Middle School, and Abia Judd Elementary. The Yavapai College has various campuses in Prescott and is a popular choice for college among many students because at least 9,000 students are enrolled here each semester per year.

A sampling of the national recognition Prescott receives …

•August 2006 Money Magazine calls Prescott one of the Top 5 towns in the article titled, “Best Places to Retire”.

•June 2006 MSN Real Estate names Prescott one of 8 places people want to live in the U.S. for its strong economy, colleges and low crime rate.

•May 2006 INC magazine, Prescott was identified in the list of 25 Hottest Small Cities with an employment base of less than 150,000.

•April 2006, Prescott was chosen as one of the Dozen Distinctive Destinations in the United States by the National Trust for Historic Preservation. Prescott was selected from 93 destinations in 39 states that were nominated for this award.

•March 2006 Bottom Line listed Prescott one of the 7 Great Places to Live.

•February 2006 Milken Institute gave Prescott an overall ranking of 3 in the 2005 Best Performing Cities.

•January 2006, Prescott was listed in True West magazine, as one of the top ten Western Towns.

•January 2006 The Business Journal. Prescott may be better known for its fragrant pines and historical Whiskey Row saloons, but it ranked an impressive 5th (population 100,000 – 500,000) on the survey conducted by the American City Business Journals, well ahead of Phoenix.

•July 2004 issue of Business Week lists Prescott the top 5 ‘Recreation Havens’ in the United States.

•2004 Boom Town USA: The 7 ½ Keys to Big Success in Small Towns” mentions Prescott as one of the top small cities in the country. Prescott was listed in The Golden Eagles, the crème de la crème, category of small towns in America.

•2004 Cities Ranked & Rated shows Prescott as #6 in the Emerging City category.

With its quality of life, blended with a near perfect four-season climate and small-town atmosphere, Prescott, AZ has become a highly desired place to live and work. Prescott residents enjoy the benefits of small town living, while taking advantage of many positive amenities of larger metropolitan areas. As a result, the area’s commercial real estate market continues to be strong, even in light of the slowdown in the US economy. Arizona Commercial Real Estate, located in Prescott, has a finger on the pulse of the Quad-City market.

Aero-TV: The Tecnam P2006T – Energizing the Flight Training Market

March 25, 2010

Mon, 04 January 2010 . Rotax Powered Twin Proves Multi-Engine A/C CAN BE Cost-Effective Mostly known for their efforts in the LSA aircraft game, Tecnam (which has been building planes since 1948, by the way), has been building serious buzz for a new program for a few years — a light twin that could shake up the business a fair amount. Built around the highly-regarded Rotax 912S, the P2006T is destined to do something that few twins have been able to do over the years… entice owners looking for a cost-effective flyer. With only 100 hp per side, the 200 hp P2006T, with constant-speed/full-feathering props, will have a cruise speed (at 75%) of 140 kts. The bird is a four seater, with high wing and retractable gear. The cockpit is currently scheduled to be filled by the buyer’s choice of a Garmin G1000 or standard gauges. Stall speed (Vso) is 49 knots, while the M/E climb rate is 1140 fpm and in single engine mode, still manages to eke out 230 fpm. With 880 pounds of useful load, the P2006T needs 898 feet for takeoff (with 1213 feet to clear the stereotypical 50 foot obstacle), and 656 feet for landing roll out (a total of 1279 feet over the 50 foot obstacle). The retractable gear system is electric. The P2006T has a 400 liter fuel capacity (about 105 gallons) and offers 620 nm range. In addition to the fact that the Rotax 912S is fairly easy on the fuel flows, this is an engine that can burn auto-gas without issue… offering even greater economies. As the first all-new