The most recent news in the last 2 weeks in Phoenix now finds Buyers pitted against each other, and against the savvy local investors, in a bidding war for properties in Phoenix.

Real Estate has dropped so low in Phoenix in some areas, that the $125k to $175k price range is now actually deluged with multiple offers.

Realtors are beginning to ask, "Is this the end of the downturn?" as they are losing out to other competing Realtors down the street and having to become aggressive again in their advice to, and bids on behalf of their clients.

Keep your eyes open and ears tuned in for the "psychological turn" that's coming soon.  Phoenix has always grown, and as the purchasing picks up, values will once again rise quickly off the bottom.

Thanks to FHA and $0 Down Ameridream Down Payment Gift Assistance, owner occupants can still enjoy the 0 down benefits of a great 30 year fixed, low rate guaranteed by FHA.

If you're interested in not missing the bottom, consider preparing quickly with your finance options, so you'll be prepared when you see the first Arizona Republic Headlines soon say, "PRICES RISING FOR FIRST TIME IN 2 YEARS".

Andrew Schmidt, Nations Home Funding BK0905991

ACSchmidt4@aol.com 602.371.8600

May 5 - 9. Every day Daily Grind at the Phelps Dodge Tower, 1 N. Central Ave. is hosting a different local artist who is selling their unique items just in time for Mother's Day! Jewelry, pottery, hand-blown glass, candles, clothes & more. Stop by every day to see what is new.

For more information call 602 252 2737.      

Mayor Phil Gordon plans on meeting with City of Phoenix residents on a Quarterly basis to have coffee and discuss varying, timely topics of interest to Phoenix residents. 

The first gathering will be this coming Saturday, May 10th at Palatte, a quaint restaurant in the Roosevelt Historic District.

Palatte is located at 606 N 4th Ave.  The gathering will be from 8:30 AM to 9:30 AM

The Mayor's topic will be the "Parks & Preserves Initiative" which will be on the May 20th special election Ballot.   Phil Richards, chair of the Parks and Preserves Board, will also be at the gathering.

Source: Jahna Berry's Blog at azcentral.com

A visioning exercise to discuss, analyze and develop growth strategies to handle the future growth of Central Arizona will be held on Friday, May 16th at the Phoenix Convention Center.  A morning session of 300 nominated local leaders will be held to conduct visioning exercises.  A lunchtime and afternoon program will be held to share those results with the general public as well as to continue the dialogue.  The Keynote Address for the afternoon session will be given by Dr. Michael Crow, President, Arizona State University.

Initiated by the Urban Land Institute, AZ One is a collaboration of the State of Arizona, the Governor’s Growth Cabinet and an additional 18 public, private and civic alliances. Among these alliances are: Arizona State University, Central Arizona Association of Governments, East Valley Partnership, Lincoln Institute of Land Policy and Sonoran Institute, Maricopa Association of Governments, The Nature Conservancy, Valley Forward Association, WESTMARC and others.

The goal of AZ One is to facilitate consensus among diverse constituents on how to maintain the quality of life in Central Arizona and implement strategies to build a sustainable future for this rapidly expanding region. AZ One, a Reality Check differs from other visioning exercises in that it is a proven process that leads to the implementation of desired growth practices. It was created by ULI and has been used throughout the country as far back as 1997.

Lunchtime and afternoon program runs from 11:45 AM to 3:15 PM

More info and registration online

With all the creative things happening in Downtown Phoenix, this property represents an exciting opportunity to develop a "unique destination" for a collection of small businesses/ offices/ studios or ?  Located adjacent to the Woodland Historic District and the State Capital.  12,000 + sq ft of space on a half acre lot, zoned R-5.

Asking Price is $1,300,000.

For more information contact Lyle Plocher with Urban Connection Realty at 602 373 3725 or lyle@urbanconnectionrealty.com

A big trade show coming up at the Phoenix Convention Center.  Design, learn, shop, learn, be inspired. 

May 1st through 4th - Info online

After nearly a year of lunches, mixers and prizes, Friends of Transit Tuesdays are coming to an end.  Over 3,000 people attended our events, and over 1,100 entered into our prize drawings. Together, we have helped the businesses along the light rail route get through the tough times during construction. Thanks to all of you who helped us make the Tuesdays program a success.

Join us for the
Friends of Transit Tuesday
FINALE!

Tuesday, April 29, 2008
11:00 am to 1:30 pm at
Portland’s Restaurant
105 W. Portland, Phoenix

This lunch discount is the best one yet:
The first 100 customers will get $7.50 off their lunch bill!
Print this email to receive discount

Sign up for the Friends of Transit Tuesday Finale Prize Drawing to win:
$250 to Brothers Tailor & Clothing Co
$250 to Arizona Laser, Electrolysis and Skin Care
$50 to Portland’s
$50 to Alexi’s
$20 to All About Books and Comics

AND, win great door prizes from:
JB’s Restaurant
Lux Coffee Bar
Beyond Juice
A Touch of Yogurt
Chill

Zero Down Loans (Yes, $0 Down) are still happening in the Phoenix area for owner occupied purchases, up to $365,000 sales price.

Due to the repeated requests for information on this topic, I will provide a Re-Print of the March's FHA 0 Down Ameridream Article.

Next week we will follow up with an article on How to Receive $20,000 Per Year- Through FHA Puchase- To Pay For Your New Mortgage

Here's the Re-Print of Last Month's Article

March 7, 2008

I want to update you on TODAY'S MAJOR ARIZONA MARKET CHANGE with FHA owner occupied purchases.  It will affect our economy and home values almost immediately.

                          AS OF TODAY:

                          $356,500 max purchase price

                          Max loan size- $346,250

                          Maricopa County                                

This news is revolutionary, and will begin turning the Phoenix market around with the supply and demand imbalances as FHA now allows first-time AND non-first time home buyers to purchase about 70% of the available Phoenix market's inventory of homes with HIGH QUALITY, LOW RISK FHA loan terms.

      5 Facts about FHA Loans to remember:

    1)  The COST PER THOUSAND with ZERO DOWN FHA is about $7.25 per $1,000.

    2)  ZERO DOWN ALLOWED!

    3)  FHA still allows DPA, or Down Payment Assistance, which means that AmeriDream and other DPA organizations are still ALLOWING ALL DOWN PAYMENT AND CLOSING COSTS TO BE PAID BY THEM, AND CONTRIBUTED BY THE SELLER OF THE HOME.

    4)  This means that ALL EARNEST MONIES CAN BE RETURNED TO BORROWER AT CLOSING.

    5)  NO CREDIT SCORE REQUIREMENT BY FHA- Low scores not a reason to be denied qualification.

    (HUD approval and credit approval required.)

Andrew Schmidt, Nations Home Funding, Inc. ACSchmidt4@aol.com        BK0905991

April 24. Help welcome 1130 The Restaurant to the neighborhood with a Grand Opening Celebration and Happy Hour. Sample 1130's great menu with complimentary hors devours. Enjoy specials on appetizers and drinks, entertainment and more. Also, join City of Phoenix officials for a special ribbon cutting ceremony. Thursday from 4:30pm-7pm.

For more information call 602 368 3046.  1130 The Restaurant is located in the  Palm Courtyard in the Downtown Arizona Center 455 N. 3rd Street #1130 Phoenix, AZ 85004 (3rd St. and Van Buren)

The renovation on the 1931 Professional Building, former home of Valley National Bank in Downtown Phoenix must be moving along at breakneck speed as the Hotel Manager, Todd Iacono told Arizona Republic reporter Jahna Berry that the Hotel would be open in October. 

A $100 million renovation will restore the vintage lobby and will create 150 hotel rooms in the former office tower, Iacono said. A local celebrity chef is crafting the menu for a hotel restaurant, a 1930s-themed diner and a pastry shop that will go on the first floor.

This week, construction crews were cutting into the basement bank vault, which will become a wine bar. A nightclub is going on the roof, Iacono said.

Read the entire article at azcentral.com