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briefcase
Valley housing values keep slipping Just when it seems the like the
Think outside the mailbox.
LPM, sent to your Inbox. For seven years, LPM has been the only Arizona magazine focused on the local Latino community.
Valley’s housing woes might be easing, along comes another national report to bring us back to reality. The reality appears to be this: Housing values in Arizona will take a lot longer to rebound than optimistic homebuilders and land developers will tell you. In this instance, the bad news comes from the Standard & Poore’s Case-Shiller Home Price Indices, which focus on the largest 20 cities in the U.S. and found that home values dropped nationally in September of 2011 after five months of gains. That would be enough malas noticias, especially for homeowners, but it goes on to report that the decline in home values was greatest in Phoenix, Atlanta and Las Vegas. David M. Blitzer, chairman of S&P’s index committee, said that
while the steep price drops seen between 2007 and 2009 appear to be over, home prices are down from the same time last year and do not show signs of rebounding anytime soon. “Any chance for a sustained recovery will probably need a stronger economy,” he says. Atlanta, San Francisco and Tampa, Florida, posted the biggest monthly price increases. Prices in Atlanta, Las Vegas and Phoenix fell to their lowest points since the housing crisis began four years ago. So while average home prices nationwide are back to their early 2003 levels, in Phoenix, average home prices are about where they were in 2000, which isn’t necessarily cause for total despair. It could be worse. In Atlanta and Las Vegas, average home prices are below their 2000 levels.
MEDWeek honors Andale Construction The 16th Annual Minority Enterprise Development Week Awards Breakfast
and Expo brought out the stars when it comes to minority business owners in the Valley. The November event at the Arizona Biltmore recognized and honored the contributions of minority-owned businesses nationwide. Why not? They account for 22 percent of all U.S. businesses and collectively contribute $1 trillion to the nation’s economic output. They also employ about 10 percent of U.S. workers. The Minority Business Center (MBC) and the Arizona Hispanic Chamber of Commerce, which operates the Phoenix MBC, present the local honors. Here are select winners of the MEDWeek Awards:
Minority Firm of the Year: Andale Construction Inc. Sign up for the free digital edition: www.latinopm.com/digital
Founded in 2006 by Luis De La Cruz and partners J. Aguilar and A. De La Torres, Andale provides construction services to diverse segments within the underground utilities industry. In 2008, Andale was the MEDWeek Minority Construction Firm of the Year.
Minority Advocate of the Year: Lisha Adela Garcia Lisha Adela Garcia has worked throughout her career to support small businesses, whether for local government on redevelopment of downtowns and neighborhoods, mixed-use live/work space, or funding for small business development centers.
Distinguished Supplier Diversity Award: Arizona Public Service In 2010, APS contributed $82 million in procurement opportunities for diverse suppliers, of which $64 million APS directly spent with diverse suppliers. 34
Latino Perspectives Magazine
¡ January 2012!
latinopm.com