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Jonathan Dalton
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Phoenix Coyotes Ownership Saga and the Westgate City Center

Two nights ago, the Glendale City Council voted to approve a lease agreement with erstwhile Phoenix Coyotes buyer Greg Jamison, moving what has become a three-year ownership saga closer to completion. Even this step took a bit of work. A lease was negotiated months ago but never signed by the council because of the then-impending and now-happening NHL Lockout. And a citizens group decided to take the sales tax needed to fund a portion of the deal to the November ballot, where the proposition to prohibit the sales tax (and also require more or less any tax increase to be […]

Reasonable ROI Expectations in Phoenix Real Estate

The Phoenix real estate market remains as much myth as reality these days; the phones still ring with potential buyers who have heard foreclosures are “inexpensive” compared to regular homes and want to drop their cash into the market to purchase $20,000 properties that simply don’t exist. Though inventory has continued to rise over the past six months – 11,173 single family detached homes for sale in Maricopa County and counting – median prices also have continued to rise because of the pent-up demand caused by inventory below the 10,000 mark for months. The rental market remains strong for the […]

Arizona State vs. Nogales Tech – The Tradition Continues

Odd things can cross a man’s mind at 3:30 in the morning. Some are significant. Some aren’t. And some are just puzzling, such as the sudden realization that I can’t remember who won the ASU-U of A game in 2009. I ought to know this. I was there. And as you’ll see in the post that follows, I can remember some tidbit of every one of the 21 ASU-U of A games I’ve attended … except this one. And yet, now that I think of it … maybe that was the Danny Sullivan game, where the beleaguered senior quarterback came […]

It’s the Small Things

Before I lose all three of my loyal readers to the wonders of tryptophan, allow me a moment to talk about hell that’s coming up this weekend. Black Friday is upon us, soon to be followed by Cyber Monday. Okayfineanddandy. But as you plan your strategy for those days, might I ask you to take a moment and remember Small Business Saturday this coming Saturday. (Disclaimer – my wife does work at American Express, though I get zilch for this suggestion.) If you are a small business owner, go to to take advantage of some digital and in-store marketing materials. […]

Some Lessons in Flexibility, Gratefulness and Thanksgiving

I’ll just mention up front, I honestly don’t know if I’ll be able to find a way to tie this into real estate. So you may experience an abrupt jolt at some point as I shoehorn in a real estate hook from somewhere out of left field. As I watch the endless stream of thankfulness posts, I nod and smile. I’ve yet to post one myself but it doesn’t make me any less grateful, particularly for my wife happening across a segment on Dr. Oz that discussed gratitude. Keep in mind, we don’t watch the show. We had been watching […]

Two Year Window on Phoenix Real Estate Already Here

Interesting article from Bloomberg News yesterday about the state of the housing market. Blackstone Group, for those don’t know, has been heavily involved in purchasing bank owned and foreclosed homes, investing $1.5 billion this year. “Prices are starting to move faster,” said Jonathan Gray, global head of real estate for Blackstone, which has invested about $1.5 billion this year in foreclosed homes. “That’s one of the risks that emerge as more people like us get into the space and as individual homeowner confidence grows. Frankly, buying a home today is pretty compelling.” The opportunity for funds to buy homes at […]

Building a More Accurate Real Estate Reality

Real estate, as I have said many times, is a peculiar occupation. Very little of what a real estate agent does is particularly complicated … any homeowner can sell a house on their own, just as any buyer can purchase a home on their own without any assistance. Like most any other vocations, though, there are situations that constantly arise that can be solved best by someone who has been there before. It’s that experience and ability to guide a transaction from beginning to end that constitutes the majority of a real estate agent’s value. But that’s not what the public […]

A Failed Schwab Mortgage Short Sale: When Logic Takes a Holiday

Here’s a helpful tale for those who purchased their homes with a mortgage through Schwab Mortgage and are considering a short sale. Earlier this summer, I listed a home for sale as a short sale. Multiple showings ensued and we ended up with an offer above the current asking price and at the current market value, taking into consideration the condition. Let’s call the number $175,000. The seller and I compiled the short sale package, which included at least two copies of the same form, bank statements, tax returns, a hardship letter, etc. It was then we were informed by […]

Inventory Now Past 11,000 Homes …

… and that number’s going to continue climbing, at least for the next six to seven weeks. Will the election results stunt the market? Doubtful, since we’re going to see a continuance of the same policies that have been in place the past couple of years. That’s not to say a sudden tightening in credit or rise in interest rates wouldn’t cause some issues, but those are more of outside factors. What I’m saying is the market’s not going to come up apart because one candidate one instead of the other. Of the 11,009 detached homes for sale in Maricopa […]

Surviving Election Day

Before I head over to Total Wine for the self-medication that will help me through what sure will be a long evening of election results, a couple of thoughts about what I would do to change the electoral process given the chance … 1) Standardized voting methods. There’s a video of a miswired machine in Pennsylvania that already has people howling. Say what you will about Arizona, but the methodology here (at least in Maricopa County) is simple. Take ballot. Pick up black felt marker. Fill in the gap to complete an arrow pointing at a name. Done. It ain’t […]

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