Las Sendas Resort Proposal - your thoughts???

Do you know about Desert Creek at Las Sendas? Here is an article from the AZ Republic about the latest developer plans. There is also information on it at http://lassendas.info/ as well as members area of http://www.thetrailhead.org What are your thoughts? Have you seen the plans?

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Mesa Area News - University and Mesa Drive to be Developed

As reported in the Arizona Republic, a developer has been chosen for the barren tract of land at University and Mesa Drive.  It is going to be  mix of retail, professional offices, and high density housing.  Click here fo the full article. 

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AZ Republic Article on Appraisals - Response

For those of you who missed it, the Republic blaming appraisers for the current real estate market.  Here is the link to the original article: http://www.azcentral.com/realestate/articles/0106appraiser1230.html and below is a more objective look at the current market condition.

I am again appalled at the sensationalism that the Republic has brought to bear on the real estate industry.  Let’s add some real perspective and education to this very poorly written article.An appraiser’s job is to determine market value.  In the 2005 market, there was an incredible lack of supply of homes and an average to high level of demand.  Naturally that causes prices to rise.  In our case, prices rose very quickly.  As prices increased, fewer buyers were available (fewer people qualified for the higher cost of housing).  Demand fell off.  At the same time, many people that bought, decided to sell (many of which were investors).  This relaxed demand and increased supply caused prices to relax as well, and in the case of some areas of the valley, prices have fallen.  Basic economics.  This phenomenon could not be ignored by appraisers who correctly recognized that the market was moving upwards.  Value is the price one buyer and one seller agree to exchange property on.  People were willing to pay a higher price, therefore the value of the property was higher.

As for the homeowners who used the equity in their home through HELOC or refinancing, your home was never intended to be an ATM.  Lenders appraisal standards for HELOC and refinance products are often less stringent.  A “Full” appraisal is often not required.

I am disappointed that the Republic feels it must blame someone for market conditions that natural economic forces have brought to bear.  Now, don’t get me wrong, I’m sure that mortgage fraud that involved some inflated appraising has gone on, but not to the extent that this article implies.

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Things to Do This Weekend

Nothing says “Merry Christmas” louder and with more sassy brass than Brian Setzer and his 18-piece big band orchestra. Setzer is riding the Christmas sleigh this season, with a yule-themed tour that stops Friday night at Mesa Arts Center for the 3rd consecutive year. This holiday tradition sells out fast, so get your tickets today or miss the music from the all new 4th CD scheduled for release this coming holiday season. Doors open at 7:00pm. Ticket price: $44.00-$79.00 more info: 480.644.6500
(Full Article)

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Waveyard coming to Mesa!

I’m getting started on this post just a little late, but in case you didn’t know, Mesa residents voted to approve the Waveyard complex. The location will be in the SE corner where the Loop 202 (Red Mountain) & Loop 101 meet:

The official site during the Pre-voting was www.YesOnWaveyard.com and is still up and has really good information regarding water reclamation, conservation and other measures that will be taken to reduce waste. The official site is www.waveyard.com.

Found this post from SurferVillage.com that was really positive about the waveyard project.

Park activities will include surfing, kayaking, rafting, snorkeling, a beach, scuba diving, wakeboarding, rock climbing and canyoneering. Also associated will be many shops and eateries.

Not everyone is happy. This post from Treehugger.com has a different set of numbers for water usage than the official site does. And this gal is cranked about the double standard - cities requesting residents conserve water while allowing, nay inviting and funding an entire water oriented amusement to use all of the water we saved.

If the Waveyard people’s numbers work out, they will use less water annually than the golf course that is there now. I’m not for wasting, but I’m also a lousy golfer.

Rob

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California Pizza Kitchen opens at Dana Park Shopping Village

California Pizza Kitchen (CPK) (NASDAQ:CPKI), home of the Original BBQ Chicken Pizza and other innovative hearth-baked pizzas, made-to-order pastas, creative salads, appetizers, soups, sandwiches and desserts, opened its sixth valley location today at Dana Park in Mesa.

The new CPK restaurant is approximately 5,900 square-feet (full story…)

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Mesa Carpool Opportunities…

Tired of sitting behind the wheel in traffic? Help everyone - carpool and get in the HOV lane! www.carpoolworld.com is a great resourse to find a ride or find a passenger to get you into the fast lane!

Have a great day!
Your Realtor,
Rob

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Hotel Resort for Gateway Area

Hotel, resort could be in works for Gateway area
From the ARIZONA REPUBLIC

For years, Valley planners have talked about the vast economic potential of the area surrounding Phoenix-Mesa Gateway Airport in southeast Mesa.

Someday, they have said, there will be a new urban center, tens of thousands of jobs and perhaps even a destination of international fame.

But the talk has always had a futuristic air to it. Someday was always out there, somewhere.

Now Scottsdale-based DMB Associates is ready to turn the future into today.

John Bradley, a DMB vice president in charge of developing 3,200 acres presently occupied by General Motors’ Desert Proving Ground, said Friday that work could begin there in mid-2009. Full Article

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