Metro Phoenix Renters Paying Hundreds of Dollars in App Fees

By Rebekah L. Sanders | Arizona Republic Metro Phoenix’s housing shortage is forcing tenants in some cases to pay hundreds of dollars in application fees just to find a place to rent, not including move-in costs such as a security deposit. With apartment vacancies at a nearly 50-year low, some renters are applying to property …

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Arizona’s Retail Performance Could Predict How Industry Rebounds

By Brandon Brown | Phoenix Business Journal The Macerich Co., which owns some of the largest shopping malls and retail centers in the Valley and across the country, is hoping its Arizona portfolio will be a crystal ball to how the retail industry will bounce back after the Covid-19 pandemic. Because of fewer government-imposed Covid-related …

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Arizona Landlords Got Grants, Filed Eviction Notices Anyway

By Jessica Boehm, Catherine Reagor & Ralph Chapoco | Arizona Republic Arizona landlords who received money from a state program that aimed to prevent evictions during the COVID-19 pandemic filed nearly 2,500 eviction notices during the pandemic, an Arizona Republic investigation found. Gov. Doug Ducey’s office launched the Arizona Rental Property Owner Preservation Fund in …

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Phoenix Tops US Cities with Highest Number of Eviction Filings

By Angela Gonzales | Phoenix Business Journal Phoenix topped the list of cities across the nation with the most eviction filings during the coronavirus pandemic, according to a new study by the United Way. The report, conducted by the Eviction Lab at Princeton University, shows Phoenix had 16,685 eviction filings in the past year during …

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Commercial Investments Dip 20 Percent in Phoenix Metro

By Corina Vanek | Phoenix Business Journal Despite a surge in the fourth quarter, the COVID-19 pandemic caused a significant decline in real estate investment in the Phoenix metro in 2020, which saw a 20% decline from the previous year. In total, investment reached $9 billion in 2020, with the lion’s share of the money, …

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67th Annual Scottsdale Parada del Sol Canceled

Scottsdale Independent The organizers of the Scottsdale Parada del Sol have announced the 2021 parade and Trail’s End Festival have been canceled. “After careful consideration the 2021 Scottsdale Parada del Sol Parade and Trail’s End Festival has been postponed,” said Parada del Sol Parade Chairman Jose Leon. The Parada board has been monitoring the COVID-19 …

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Scottsdale Airpark Leads Sublease Space Race

By Corina Vanek | Phoenix Business Journal The COVID-19 pandemic and its effects led to the first quarter of negative net absorption of office space in the Valley after nearly nine years of positive net absorption, according to Colliers. The overall direct vacancy rate in the Valley in the fourth quarter was 13%. Available sublease …

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Arizona Real Estate Innovations That Will Stick After COVID-19

By Terrence Thornton | Scottsdale Independent “Virtual tours and online notaries will remain popular after the pandemic. Especially as remote workers from other states look for more affordable homes in Arizona.” – Rebecca Grossman Rebecca Grossman, CEO at Scottsdale Area Association of REALTORS®, agrees technological advancements of the past few years make it possible for …

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Phoenix Real Estate Leaders: ‘Guarded Optimism’ for 2021

By Corina Vanek | Phoenix Business Journal Some areas, particularly users of industrial real estate, continued to do well during the pandemic as many people shifted their buying online, bolstering an already strong industrial market in the Valley in 2020. “We had record numbers on the industrial side and that’s not going to change,” Mark …

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New COVID-19 Relief Package Signed Into Law

By Suzanne Brown On December 27, 2020, the President signed into law, H.R. 133 – the Consolidated Appropriations Act 2021 which authorizes the newest coronavirus relief bill. This nearly $900 billion package includes: A new round of direct stimulus payments of $600 to most Americans and their dependents (check the Status of Your Economic Impact …

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