6 minute read
Real Estate
10%
OFF
ANY SERVICES
1730 W. Happy Valley Rd. #103 Phoenix, AZ 85085 (623) 248-5429
www.happyfeetnails3.com
Follow us on social media:
BUSINESS HOURS Mon.-Sat. 9 a.m. - 7 p.m. Sun. 10 a.m. - 5 p.m.
WE ACCEPT
JOHNSON’S CLEANING
THE TOTAL CLEANING SPECIALIST! RESIDENTIAL & COMMERCIAL
Have you given up on cleaning your house, and would like to see it emerge from under the dirt again? We’re there for you. Looking for a daily, weekly, bi-weekly, monthly or yearly service that you can trust? Our staff is prompt, courteous, and friendly. We understand what it takes to keep your home thoroughly clean.
LOOK NO FURTHER THAN JOHNSON’S CLEANING THE ONLY SERVICE YOU WILL NEED TO STAY DIRTFREE AND SATISFIED!
AND, YES, WE DO WINDOWS! 6025691077
WWW.JOHNSONSCLEANINGSERVICES.COM
$15 OFF
YOUR FIRST CLEANING WHEN YOU MENTION THIS AD!
NEW CUSTOMERS ONLY
Real Estate
The Latest North Phoenix Development Updates
North Phoenix continues to grow so we caught up with two of the latest development updates. Read on to learn more.
THOMPSON THRIFT OFFICIALLY ANNOUNCES THEIR PLANS FOR 30 ACRES OF NORTH PHOENIX LAND
Rendering Courtesy of Thompson Thrift
Thompson Thrift, a full-service nationally recognized real estate company, recently announced the acquisition of a 30-acre parcel near the new $12 billion Taiwan Semiconductor Plant (TSMC) currently under development. Thompson Thrift plans to develop a mixed-use project that will feature luxury apartment homes and 35,000 square feet of retail on the site during the next two years.
“TSMC is changing the employment landscape in North Phoenix with their new chip fabrication plant. Thousands of new jobs will be created by TSMC and thousands more are expected in the coming years with companies wanting to work alongside TSMC,” says Ashlee Boyd, managing partner for Thompson Thrift Commercial. “Thompson Thrift has a significant history developing mixed-use projects that are integral to growing communities and we are excited to bring an integrated mixed-use project to this very dynamic part of North Phoenix.”
Located just off Interstate 17 at the southwest corner Dove Valley and the newly approved 29th Avenue intersection, approved plans call for a 16-acre development featuring luxury apartment homes. The commercial portion of the development will contain approximately 35,000 square feet of retail space set among a series of freestanding and multi-tenanted buildings. Oregano’s, a local, family-owned pizza chain, and Twisted Sugar, a gourmet cookie shop, have already committed to the site. Thompson Thrift is in negotiations with various national, regional, and local retailers and restaurants for another 20,000 square feet within the project.
“The property is advantageously located along a main growth corridor in the north Phoenix area,” says Chris Hake, senior vice president, director of the Southwest region for Thompson Thrift. “We expect leasing interest will continue to be robust for users seeking a highquality option with unmatched access to the area’s growth.”
The remainder of the 30-acre parcel will remain as undeveloped space that is part of Skunk Creek Wash natural preserve, which will feature pedestrian amenities and running paths from Dove Valley south to Sonoran Desert Parkway. Thompson Thrift’s design plan features seamless pedestrian connection to the preserve’s trail as well as complementary community amenities like volleyball courts, green space for yard games, and ramadas.
“Our residential, commercial and construction teams will work together this year to secure financing and prepare the site for vertical construction,” says Josh Purvis, managing partner for Thompson Thrift Residential. “Having all three parties sitting at the planning table together is beneficial when working with city planners and stakeholders to deliver all components in close proximity.” thompsonthrift.com
GPS COMMERCIAL ADVISORS CONFIRMS COMPLETION OF NORTH PHOENIX DEVELOPMENT AND NEW TENANTS
GPS Commercial Advisors, a real estate brokerage company, recently announced the completion of a development on the northwest corner of 35th Avenue and Happy Valley Road. The project was completed while working with the property’s landlord, James Pederson and the Pederson Group, Inc.
According to GPS, the tenant mix joining the site will include Super Star Car Wash, Brushfire Tacos y Tapas, Dutch Bros Coffee, Slim Chickens, and more. gpsaz.com
Real Estate
How Will Rising Interest Rates Impact Home Buying? An Expert Weighs In.
By Shelley Sakala, Realtor
In this month’s real estate column, local realtor Shelley Sakala answers a reader’s timely question. North Phoenix resident Kevin asks, “I heard interest rates went up. I was planning to buy a house this year. Should I be worried?”
THE EXPERT ANSWER
Yes, interest rates have gone up. But I promise things will be okay – eventually.
For those who study the economy (or study their grocery store receipts), the word of the day is inflation. In its simplest form, inflation is the rise in the price of things you buy - like groceries, clothes, cars, and even houses. In an already hot real estate market, this is an even bigger problem. Not only are homes hard to find, but they’re getting more expensive to build (and to buy). Some inflation is expected, like when Grandpa reminds us that movies used to cost a nickel and iPhones were $499. But too much inflation causes the Federal Reserve to get involved – and the cure can be as painful as the illness.
As a strategy to help slow inflation, the Federal Reserve raised interest rates last month. This affects all types of borrowed money, including credit cards, consumer loans, and mortgages. That means the same $600,000 house – even if the price remains the same - will cost more to buy than it did the previous month. And what’s worse, the Federal Reserve is expected to keep raising rates throughout this year to fight inflation. Lawrence Yun, Chief Economist and Senior Vice President of Research at the National Association of Realtors, predicts 8-10 rate hikes this year, according to a recent “Forbes” article.
Unless you’re a cash buyer, you can expect to feel financial pain when buying a home this year. The chart to the right is a side-by-side comparison of how higher interest rates impact your mortgage payment. Note: If you already have a fixed rate mortgage, your payments won’t change. Changes in rates only affect new loans as well as mortgages with adjustable rates. The good news is that eventually these rate hikes will help slow down home price appreciation. The bad news is that it won’t happen today. And until it does, Phoenix homes will be increasingly more expensive to buy and finance.
Shelley Sakala is a local realtor and owner of The Sakala Group Real Estate. Learn more at shelleysakala.com.
602-652-2866
Visit our website to schedule a free quote: SavageHomeImprovement.com
Veteran Owned - Insured - ROC 337590 LET US INSTALL YOUR:
Televisions Security Cameras Thermostats New Lighting Ceiling Fans Garage Door Openers Baseboards Pet Doors and more
You
to be
HEATING • COOLING • INDOOR AIR QUALITY
Feel the
You’ve Been 602-789-3000
info@azperfectcomfort.com www.azperfectcomfort.com
LOCAL VETERAN OWNED & OPERATED ROC#300933 • BONDED & INSURED
