Transportation

With President Bush signing into law a bill that aims to help over 400,000 homeowners from losing their homes into foreclosure, buyers sitting on the fence should also know that it changes how you can purchase a home through the Federal Housing Administration, or FHA.

The law also requires buyers to put a down payment of 3.5% for a FHA Loan.  Previously, buyers only required 3% as a down payment.

But what may affect buyers even more is that sellers are no longer allowed to gift the down payment to the buyer.  New Home Builders can no longer give you your down payment and sellers can no longer give you an incentive to buy their home by handing you a down payment from their proceeds.

Buyers should be aware of this.  FHA loans are becoming the most popular mortgages out there.  Right now, buyers can still accept a down payment from a new home builder or seller before October 1, 2008.

The new housing bill also gives first-time home buyers a tax credit of 10% of the sales price (up to $7500).  In the Phoenix area you’re most likely going to get the entire $7500 tax credit with current market prices.  It should be noted that although the tax credit will benefit you on next year’s taxes - it is really an interest-free loan from the government.  You’ll be paying it back over the course of the next 15 years.

Is now the right time for you?  If you have good credit and have been waiting for the right time but don’t necessarily have a significant down payment you may want to start searching now - if the time is right for you and/or your family.

You can use arizonafusion’s map-based search or our just released fusionpower search for the ultimate property search experience!

After recieving some comments, emails and feedbacks from Michael Wurzer, President and CEO of FBS Data Systems (the company who has created FlexMLS) and Bob Bemis, the CEO of the Arizona Regional Multiple Listing Service, the problem I previously mentioned while trying to search listings on wireless.flexmls.com has been solved!  Hooray and hopefully no more “WTFs” except when clients and I see grossly overpriced listings.

If you haven’t used wireless.flexmls.com (and of course are an ARMLS member) here are some quick tips to get started with wireless FlexMLS access and then to save yourself from the “WTFs” and urge to toss your wireless device across the room:

• Get a smartphone device: Pony up.  Get with the times.  Do what you have to do - but you’ll serve clients much better if you have a smartphone, like the Apple iPhone, a BlackBerry or Palm.  I am partial to Apple products but also think the ease and use of an iPhone would make it the top choice for most agents whether they’re technology gurus or not.Ideally, you’ll want to get a device that has “3G” access, which means it accesses high-speed cellular networks with speeds similar to broadband at home (slow home broadband, but broadband nonetheless).  AT&T calls it “3G”.  Verizon Wireless calls it “EVDO” (although I noticed in a recent radio commercial they actually used the word “3G,” most likely a fallout from all the iPhone 3G coverage).  Sprints calls it “Sprint Vision.”  Currently, at least in the Phoenix Valley, T-Mobile does not have a broadband wireless network.
• Expect to spend about $30 more a month: Wireless companies will charge you, on average, around $30 a month for unlimited data access on your smartphone.  A small investment for the service you’ll be providing to clients and the convenience you’ll have of pulling up stats on the fly even if your paperwork is not handy, flew out the window, got ate by the dog, etc.
• Bookmark wireless.flexmls.com: The iPhone makes it super easy to have one-touch access to the wireless version of the ARMLS.  Here’s a screenshot of my own iPhone.  Now, Michael, can your software developers throw in an iPhone icon so that it doesn’t look so generic and ghetto on my screen (like the Google RSS and Wells Fargo you see)?  Notice the “flexmls Web” icon/link in the bottom row above my calendar:
  

  flexmls Web is located just above my Calendar widget in the lower lefthand corner giving me one touch access to the ARMLS.

  Most wireless devices will allow bookmarks.  It should be noted that even if you don’t have a smartphone, aren’t eligible to upgrade without shelling out full retail price for the handset (which still may be worth it in my opinion) or simply want to hang on to the 1990s, you can still access wireless.flexmls.com from most “regular” cell phones by going to the phone’s browser and typing in the address.

• DESELECT search items for a successful search: As Michael put it, “I know this is lame but what’s happening here is that a couple of the fields are getting selected by the browser even though you’re not selecting them.”  More specifically, the “Compass” and “Street Suffix” fields automatically select options that will make your search come back with zero properties.To clarify, here are some screenshots from my iPhone that show the correct way and the incorrect way for searching:
  

  "Select One" is automatically selected which makes your search pointless and gives you zero results.

  

  Deselect "Select One" as well as "--" in the "St Suffix" field and your address search will come back with results.

  Those two fields - “Compass” and “St Suffix” - have default selections that you may usually assume are instructions that don’t need to be touched or will search all.  Not the case.  Deselect these items for accurate search results.

  As always, it’s usually best to not select a compass (E, W, S, N, etc) for a street because the search is only as good as the agent that put it in the MLS.  The same goes for the street suffix (Street, Way, Cove, etc).  If I recall, FlexMLS uses more accurate address verification through tax records that may take some of the innacuracies out of the picture - but to be safe, keep those fields blank.

If you follow the search directions here, you won’t have the issues I had previously.  Once I deselected the default selections for compass and street suffix I had perfect success that mirrored results on “the real FlexMLS” on my laptop.

Kudos to Michael Wurzer and FlexMLS for offering a Web 2.0 interface on my computer and a viable solution on my mobile device.  Perhaps I can push the envelope and request a iPhone Application that would bring even more functionality to FlexMLS while mobile.

Kudos also to Bob Bemis and ARMLS for finally offering multiple IDX solutions to agents and brokers and bringing us FlexMLS and a MLS solution that allows the industry to do what they need to do easier and better.

Now, if we can only get some competition in the paperless transaction offerings and end the ZipForms monopoly.  In my dream world and others’,

• I pull up the ARMLS on my iPhone App
• Search for properties on my iPhone App
• Open up lockboxes via Bluetooth (no need to carry around a Supra Key or have an outdated Palm).  Supra claims Bluetooth would use way too much battery power, which is probably true.  But this is my dream world, right?
• Click on the property my buyer wants to put an offer on
• Pull up all the current AAR forms with the listing information automatically populated and relevant seller disclosures too
• Review the paperwork on the iPhone App
• Sign it electronically with integrated electronic signature technology or on the iPhone screen with a finger
• Send the paperwork electronically back to the listing agent
• Send the completed paperwork electronically to the title company, mortgage companies, etc.

Of course, in my dream world, all agents are onboard with today’s technology and we could whisk paperwork back and forth from agent-to-agent-to-mortgage company-to-title company-to-agent-to-inspector-to-client’s email.

Well, at least I can search wirelessly now with my clients this afternoon if the opportunity presents itself!

We can always dream …

You may have seen these blue bus/vans in Tempe but not known exactly what they were.  I myself have seen these but didn’t know exactly what they were - until today I met with a friend who works with the Tempe Chamber of Commerce and explained to me what the Orbit buses are all about.

Orbit is a free service in Tempe that connects it’s residential neighborhoods with it’s growing urban core and other retail, businesses and local destinations.  There are currently five routes on Orbit.

Unlike traditional bussing systems, Orbit uses “flag stops.”  Because Orbit busses run through an area at least once every fifteen minutes from 6 AM to 10 PM seven days a week, a rider simply has to waive their arms to flag down an Orbit bus and have it stop.  Except on major streets, the Orbit bus will stop anywhere to pick up a rider.  On major streets, like Mill Avenue, University Drive and Broadway Road, Orbit will stop at designated bus stops.

Currently, Tempe is considering extending ridership hours to 1 AM or later on the weekends to coincide with the light-rail and other bus services.  I think this is a “no brainer” if the city is dedicated to creating viable mass-transit options for it’s citizens while also cutting down on drunk driving.  I’m sure Mill Avenue and Tempe Marketplace bars and restaurants would appreciate that as well considering Arizona’s recent tough (and needed) stance on DUIs.

If you live in or are considering a move to Tempe - Orbit is a great and free service that really adds value to the area.  Those living on Orbit routes now enjoy the convenience of hopping on a bus and enjoying what Tempe has to offer - the Mill Avenue District, Tempe Marketplace, the Tempe Center for the Arts, the Gammage Theater, ASU sporting events and more.  Incidentally, Orbit will run until midnight on nights of ASU Football games this upcoming season.  

Currently, Orbit only runs north of US-60 but Tempe is also considering extending the service to South Tempe as well.

Orbit Route Map

Other cities, such as Chandler and Scottsdale, may want to take a hint from Tempe.  Destination areas such as Old Town Scottsdale (which does currently have a free Trolley Service connecting parts of nearby Scottsdale to Old Town), Historic Downtown Chandler and Chandler Fashion Center would definitely benefit from a service like Orbit.  

In this era of high energy costs I think most people would consider a service like Orbit to take them out for the evening.  There would not longer be a need to worry about where to park in Historic Downtown Chandler on Friday or Saturday evenings and no need to worry about having that extra beer or martini.  If marketed correctly, a service like Orbit in other Phoenix valley cities would be a hit and enjoy ridership like Tempe has - in less than one year since Orbit began it’s enjoyed nearly 1.3 million riders.

23 years in the making and it’s finally a loop - kind of.  The last segment of Loop 202 open tomorrow, July 20 in Mesa.  It will connect east Mesa with the central valley and offer far-east valley drivers another option.  Right now, to get from east Mesa to Tempe, Scottsdale or Phoenix, drivers only have one option - U.S. 60.

This completes the eastern part of the 202 and creates a nice loop around Chandler, Mesa and Gilbert.  This section of the Loop 202 also creates an instant “bonus artery” for traffic and instant value for those buying or selling real estate in the far-east Phoenix Valley.

Now, if we could only get that western southwest quarter complete, tentatively called the “South Mountain Freeway” … but that’s a whole ‘nother story that involves more debate than I care to do on this fine Sunday morning.

When working with buyers from larger cities around the country: Chicago, New York, Boston, Philadelphia and Seattle to name a few, it often comes as a surprise to these transplants that it’s not as easy to distinguish neighborhoods like you can in, say, Chicago: Bucktown, Lakeview, Wrigleyville, Lincoln Park, Gold Coast or The Loop.  I bring Chicago up because I happened to take a trip there recently and thought to myself, “What if Phoenix had grown up this way?”

“What if Phoenix chose to grow upward and not outward for the past twenty to fifty years?”

So here’s my wish list for the future. Nothing too crazy and some of it’s already in motion in some areas of the Phoenix Valley …

1. Density. Sure, there are acres upon acres of pristine desert out there fifty miles from the center of Phoenix but there isn’t much else.  I want to see a focus like Tempe has but in other valley cities.  Encourage growth like Centerpoint Condos, Mosaic and build the infrastructure that’s needed.  Or work to change zoning in areas to encourage more dense growth.But, while I am impressed with Tempe’s growth there are certain things that still make me think that planners haven’t done their job of planning.  Take for instance the CVS Pharmacy that is currently under construction on the corner of University and Mill Avenue.  While it looks like it will be a nice pharmacy at a prime location - and great for the influx of new residents moving in to the Mill Avenue District - it appears that the CVS will only be one story.  Not two.  Not three or four or five.  Just one.

   Better planning, in my mind, would’ve required CVS to include plans lofts, townhomes or condos above even if it only meant four or eight units.  And don’t tell me you couldn’t rent those units out once they were complete.  That would be a prime location for ASU students.  The units don’t have to offer a doorman, granite imported from the middle of some Mongolian mountain or exotic wood flooring.  No, they could be simple and well-made units that offer an ideal location for people who don’t make a quarter of a million or more a year.

2. Uniqueness. For the most part, Phoenix is a sea of stucco and tile rooftops.  Sure, there are pockets of uniqueness like Old Town Scottsdale, Historic Downtown Chandler, the Willow District near downtown Phoenix and the Mill Avenue District of Downtown Tempe.  But, I’m selfish and I want more.Along with density comes a certain degree of pride in an area.  Pride develops into creating a unique characteristic or personality for that area.  Whether it’s a neighborhood known for the arts, design, gays, a certain architecture, shopping, a certain ethnic group … I don’t care.  I want to be able to tell people “if you go to this area of Chandler/Gilbert/Tempe/Phoenix/Scottsdale you will find (fill in a unique description here)…”  Instead, you’re pretty much going to find more of the same as it stands now.

   Uniqueness can be added and these neighborhood personalities pushed along with innovative buildings that appeal to market segments.  For instance, a development like EcoLogic Lofts in Chicago’s Bucktown would most likely appeal to those interested in living a green lifestyle.  I’d imagine in ten years you’ll see organic bakeries, restaurants or farmer’s markets near this development.

   Tangent: Can someone please tell me why we don’t have developments like EcoLogic Lofts here in Phoenix?  Why aren’t there requirements for adding to the electric grid with mandatory solar panels integrated into building designs?  Sure, there may be developments here and there but it seems like the Valley of the Sun (keyword: sun) would be jumping on this type of design.

3. Mass-Transit. Sure, we’re well on our way.  I am very excited about the light-rail that debuts in the valley in December.  Connecting west Mesa, Tempe and Central Phoenix, the light-rail project is an exciting development.  Some cities, like Chandler and Scottsdale, are already thinking on how they can jump on that train and connect their cities to realize the benefits.  Most well-developed cities offer a mixture of light-rail/subway, buses and taxis.  In a city as large as the Phoenix metro area, you’d think there would be a viable option for those moving here to give up their car and only take mass-transit.  But there really is not.  Perhaps in five or ten years there will be in Tempe and Phoenix (if you work in those areas or out of your home) but there is not right now.If you planned on moving to New York City you’d give up your car for sure.  Chicago?  Most likely if you chose to live inside the sprawling suburbs.  Seattle?  Similar situation to Chicago.  The point is that the option is there.What the Phoenix valley needs is a focus on speeding-up the development of mass-transit options and integrating them into the current transportation systems.  Mass-transit directly deals with the current energy crisis and the brown cloud that persists over the Phoenix Valley.

That’s it.  Just three items.  Density, Uniqueness and Mass-Transit.  If planners for Phoenix Valley cities developed with these three things in mind I think we’d have a city that offers more than it already does.  Developments like The Metropolitan in Chandler and Southbank in Tempe are great starts.  Chandler’s recent announcements of light-rail and bus schedules are too not to mention Chandler’s ideas to add density to certain run-down, strip mall intersections.

But, being impatient, I sure wish I could jump into the future and see what this valley of opportunity looks like in twenty years!

I wrote yesterday about Chandler, Arizona’s initiative to bring walkable urbanism and higher-density living to intersections that currently have worn down strip malls.  It seems that cities who have been dealing with suburban sprawl a lot longer than Chandler are also on the right path.

The Wall Street Journal wrote about Sacramento’s Blueprint plan for changing it’s growth strategy.  The “Blueprint” for the future - which sets goals of how Sacramento should look in 2050 - was adopted in 2004 and includes goals of creating walkable environments where work, entertainment and living are all in the immediate neighborhood.  Furthermore, it connects mass-transit options so that if you do need to get across town you don’t have to jump in your car.

Four years later, Sacramento has seen a dramatic increase in higher-density building - to the tune of 533% more apartment, townhomes and condos while traditional suburban communities fell by 21%.

Those who encouraged the Blueprint took an ingenious approach to promoting the idea.  Rather than throwing a bunch of graphs and numbers into a PowerPoint presentation they utilized realistic imagery to show how traditional suburban streetcorners with worn down strip malls could be transformed into a walkable and much more liveable environment.

Take a look at some renderings here - and then imagine areas of Chandler, Tempe, Phoenix, Gilbert or Mesa (or whatever city you live in) and what would happen if they underwent similar changes.

Again, I say “Cheers!” to Chandler for starting the push towards walkable environments.  Chandler already has great plans for Historic Downtown Chandler that include more townhomes, condos, higher-density single family homes, an expanded convention center and more.  Let’s hope Chandler continues to promote higher-density growth and the continuation of linking mass-transit options.

Gas has been at $4 or higher for over a month and gas futures continue to rise through the $130 - $140  a barrel price range.  Oil refineries are losing their asses even with prices so high.

The result?  You can hear and see the change happening.  People are driving less and staying closer to home and reconsidering their “usual” plans.  Consider this:

My wife and I spent the Fourth of July holiday in Indiana.  On the night of the 4th, we were in a mid-size suburban neighborhood southwest of Fort Wayne, Indiana where we were both raised.  In recent past years the streets of suburbia were nearly vacant as most families chose to venture to the many nearby lakes and boat or to nearby major cities like Chicago or Indianapolis for the Fourth.  This year, 2008, it was almost like the hands of time had been turned back to when I was a kid.  Fireworks were going off all around us - indicating that families had chosen to stay home and entertain themselves rather than their usual Fourth of July routine.

I also heard it yesterday as I appeared for Jury Duty in Mesa, Arizona.  The rumblings of “I live in Surprise (a northwest Phoenix suburb, roughly 50+ miles from where we were in Mesa) and I had to drive all the way out here with gas prices like this!”  I even had a great conversation with man in his 50’s who was considering a move to the Mill Avenue District of Tempe so that he could walk to most places (he worked from home).

Times they are a changing. I’ve indicated before that there is an upside to $8 a gallon gas for the Phoenix Valley and the U.S.A.  We’re having a tough time dealing with $4 a gallon gas - how will we deal with it when the prices reach $5? $6? $7? $8?

The good news is that we are starting to deal with it now.  And Chandler seems to be dealing with it head on.  Recently, Chandler announced they would be adding 50% more bus routes to it’s schedule to connect it’s citizens to the light-rail opening in December in Mesa, Tempe and Phoenix.  They’re also adding text message alerts to make “waiting for the bus” less of a hassle allowing riders to be notified on their wireless device when a bus is a few minutes away from their stop.

But here’s an even better solution: real change in how we build our communities in the future.  Chandler has announced an aggressive change in zoning philosophy that could transform some major intersections from worn-down strip-malls to bustling higher-density walkable environments.  This philosophy changes Chandler’s current initiative which encourages redevelopment by giving strip-malls a makeover with tax payer’s money - a great change in my opinion.

Take for example the intersection of Warner and Alma School Roads.  Currently, a strip-mall that could use a makeover (preferably paid for by it’s owners and not tax payers) sits on the northwest and southwest corner while a Wal-Mart and PetSmart occupy the northeast corner.  A church sits on the southeast corner.  Here’s a very rough photo courtesy of Google Maps and it’s StreetView technology:

The strip-malls - especially with a Wal-Mart - contain the necessities of life.  There is of course the Wal-Mart for household items, a smoothie shop, a Chili’s, an English Pub called Churchills, numerous clothing stores, a dry cleaner, a day spa, banks and more.

What if two or three mid-rise residential or mixed-use (residential and commerical/office) were added to this intersection? Well, for one, people like my friend at Jury Duty would have a few more options for walkable environments in the valley.  For two, there would be an influx of people to this area.  With a thousand or two thousand more people living at this intersection and within a walk from life’s necessities a new walkable urban environment would be born.

Not only that, the residential mid-rise could allow for a mixed bag of demographics as well.  In most city neighborhoods people of all walks of life live side-by-side.  It’s not as segregated as suburbia has made us.  Think about it - from the moment a new home builder places a sign on a parcel of dirt we’ve segregated suburbia.  Potential buyers drive by a new home development sign and either say, “Oh look honey, homes from the $600’s, let’s check it out” or “Oh, what a great location but look, they start in the $600’s and that’s too much for us.”

Additionally, if mid-rise buildings are mixed-use and perhaps the first two or three floors are office space, Chandler can propel it’s economy and the hyper-local economies of these intersections.  Small businesses will flourish in these areas as well as give mid-size and larger companies options outside of downtown Phoenix for satellite or additional office locations.  Of course, workers at these locations will be able to walk to lunch and shop at the current businesses and the new ones that would pop-up as a result of these proposed mid-rise buildings.

Chandler’s plan is certainly in it’s infancy.  But if it picks a few intersections and encourages mid-rise buildings to promote higher density growth then I think we’re on the right track.  What would make the change even more exciting would be if Chandler promotes architecturally distinct buildings for the redevelopment.  God knows we have enough stucco and “desert colored” buildings in our suburban communities.  Innovative glass buildings with unique architecture would also promote neighborhood pride and create a distinction from one neighborhood to the next.

Chandler - and the entire Phoenix Valley - needs to consider growth options that are upward and not outward.  The infrastructure in many of our cities is fantastic.  Show me other cities that have three lane roads in each direction in the middle of suburbia?  You’ll be hard pressed to find them. The point is that we can support higher-density growth in Chandler, Phoenix, Tempe, Gilbert, Mesa, Scottsdale and all across the Valley of the Sun.

Cheers! to Chandler for creating a model for future growth.  Now let’s hope the plan becomes reality!

It seems to be all the rage these days. More and more, in cities all across the country, people are taking a second look at how they get from Point A to Point B. And not only that, they’re making sure they make the most of each trip so there are not wasted trips and thus wasted gas.

I bet back in the day - or everyday in a real walkable city like New York City - when someone is going out for whatever reason, he makes sure that wherever he’s going that he takes care of everything he can. Cities across the country, including Phoenix area suburbs like Chandler are rethinking their mass-transit options. Chandler, as an example, is increasing bus service by 50% to handle new found demand for its  bus services. Not only that, their goals include convenient routes to link its riders to the light-rail stations in Mesa and Tempe while offering text messaging services to notify riders when a bus is nearing a stop (what a fantastic service!).

But what if - just what if - daily tasks like getting to and from work, grabbing a gallon of milk or a pint of beer, taking a yoga class and getting to the airport were all possible without turning on a car and fighting traffic?  Is that even possible in this sprawled-out suburban valley?

Enter a great website that can help to answer that question: WalkScore.com

After entering your address, or perhaps the address of a property you may be considering your next or second home, you’ll find out just how “walkable” that location may be. You’ll have instant access to the distance from that property to grocery stores, convenience marts, bars, theaters, gyms, schools and more.  WalkScore even throws all this information on a nice GoogleMap.

The website then creates a rating from 0 to 100 indicating if that location is walkable (a 100) or will require you to continue to she’ll out $4+ a gallon for gas (a 0).

You might be surprised at what your home is rated. For most people’s lives gas has been cheap and because its easier and more convenient to jump in the Jeep to grab a gallon of milk at the grocery store that’s 0.3 miles away, well that’s the option most people choose.

But in walkble cities - regardless of weather conditions - people don’t think twice about walking a half mile or more to meet friends for dinner, grab a pint or gallon.  The surpise to me was that in my area, I have the man necessities within walking distance - grocery, restaurants, bars (if that’s a necessity), banks and convenience marts. Yet I can honestly say I’ve only walked once to the grocery store and a few times to nearby restaurants and bars.

Here is one great walkable area and one up-and-coming/soon-to-be walkable areas of the southeast Phoenix valley:

Centerpoint Condominiums :: 111 W 6th Street, Tempe, AZ :: WalkScore of 97

The only thing really missing in downtown Tempe’s Mill Avenue District is a full grocery store - and that’s coming at nearby Mosaic (hopefully sooner than later) with Whole Foods.

San Marcos Commons :: Downtown Chandler, AZ :: WalkScore of 72

An up-and-coming area, Historic Downtown Chandler offers a respectible score of 72 with many restaurants and bars within walking distance but lacks a reasonably decent grocery store - a Wal-Mart is well over a mile away.

With the addition of mass-transit options in the valley, areas like these will offer residents a neighborhood that brings many of life’s necessities within a short walk and brings the rest of the valley via light-rail and bus connections.

I previously discussed the movement towards “walkable urbanism” or New Urbansim.

Wikipedia describes New Urbansim:

Its goal is to reform many aspects of real estate development and urban planning, from urban retrofits to suburban infill. New urbanist neighborhoods are designed to contain a diverse range of housing and jobs, and to be walkable.

New Urbanism can include (neo)traditional neighborhood design and transit-oriented development.

Although the CNN article discussed the movement in a younger demographic, a reader admitted that she’d love to see more walkable urban areas like when she grew up (thanks Pat):

I’m almost 60 yrs old. Growing up, we walked to mNowost of our destinations. The movies, an ice cream cone, a few groceries, the dentist, the playground, etc. Our parents walked too. TOday, walking is just for exercise. The concept of building up, not out, makes sense. With energy costs so high, having businesses and shops within walking distance would be like turning back the pages of time when people used their legs (and bikes) as a form of transportation. Nice.

The movement seems to be picking up steam and only continues to grow with things like light-rail.

The Arizona Republic reported that over $6 Billion in investment has already occurred along the light-rail lines. More and more, real estate developers are attracted to areas around light-rail because their buyers are becoming more and more attracted to areas where they can walk to get groceries, walk to eat dinner, walk to see a game or easily hop on an efficient public transportation option such as light-rail.

I for one am pumped for the light-rail to makes it’s debut in Phoenix in December. I continue to mull over moving towards an urban area that will provide me and my growing family with recreational activities without always having to hop in the car. Being along the light-rail line - whether you are in Mesa, Tempe or Phoenix, means you are only a short ride away from Diamondbacks games, Suns basketball games, all the festivals that occur at Tempe Beach Park, Arizona State football and basketball games and so much more.

Of course, it’s only a prediction of mine, but I think that once the real estate market is over it’s slump in the Phoenix Valley - and it’s pretty evident that some areas already are seeing life and balanced inventories - the areas around light-rail will see a good amount of sales activity and appreciation. I believe this because not only is there a bunch of future investment in these areas, but also because when the Phoenix real estate slump is over, high energy prices will still be there.

As buyers reevaluate what’s important to them I think more and more will decide that spending their time behind the wheel driving an hour to work each way could be better spent with their families - not to mention their gas money could be better spent being invested in other areas of their lives.

Chandler also announced today that they will be increasing bus service by 50% to allow for more routes that drop off at light-rail stations. Not only that, the next portion of the light-rail track to be built is looking more and more like it will be somewhere along Rural Road - thereby connecting Chandler to Tempe.

It’s exciting to me the things that have resulted from high energy prices. Although I hate paying $50+ to fill up the tank just like anyone else, I do think that suburbia is out of control and causing issues like global warming, gridlock and the brown cloud we see hovering over the Phoenix Valley floor.

I’m not sure how this post went from light-rail investments to a “hippy global warming” post … but it did. It wasn’t too far of a stretch … but the point is simple:

Light-rail is good for the Phoenix Valley. It’s good for the environment. It’s good for New Urbanism and Walkable Urbanism. And it might be good for real estate appreciation!

Ah, progress. You gotta love it!