LAND SALES STATISTICS FOR LAND SUROUNDING THE PHOENIX METRO AREA (Primarily Maricopa & Pinal Counties)

The following statistics represent all ARMLS pending land sales and closed land sales since Febuary 1, 2008.

Hello Land Agents:

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THE REAL FORECLOSURE STORY

THE REAL FORECLOSURE STORY

March 10th, 2008
Dear Investors,

A lot of people are nervous about what they are reading in the newspaper and hearing on TV. But how can you blame them?

The media is bombarding people with reports about the housing decline and the sub-prime mortgage mess.

However, Chief ECONOMIST for the National Mortgage Bankers Association, Doug Duncan decided to set the record straight. In a private conversation, Doug said that people have nothing to worry about in Texas .

Some of his defenses were...
The foreclosure problem in this country is really a story about 7 states
The biggest foreclosure problem is in Michigan , Ohio and Indiana . These are predominantly manufacturing states
Since 2001, Michigan has lost 300,000+ jobs
The other 4 states are California , Florida , Arizona and Nevada . In each of these states there has been significant overbuilding. 25% of the foreclosures in these states are on properties that are held by investors who were speculating
California & Florida have been hit very hard
35% of the homes in the USA do not have a mortgage
98% of the mortgages in the USA are performing
Only 9% of all mortgages are sub-prime
75% of all sub-prime mortgages are performing
In the other 43 states, foreclosures have fallen in 2007 from 2006
Right now, our local inventory levels are half the national average and well-priced homes are selling fast.
You cannot expect this type of factual information to be distributed by the news media channels. We have to be telling folks this story.
Help me spread the word...


I received this article in an email and it did not have an author. I feel it more accurately explains the true real estate situation in the US right now. None the less the situation we are all in should not be taken lightly.



My HELOC just dropped $XXX per month thanks to the fed easing interest rates. Now ask me if I care about a weak dollar!!

"I CAN SEE CLEARLY NOW, THE RAIN IS GONE..."

Johnny Nash hit number one on the charts with this classic tune in 1972...and 35 years later, Fed Chairman Big Ben Bernanke is singing the same tune, mentioning in comments last week that the Fed would be more transparent so we all can see their policies clearly.
The new, improved, and more transparent Fed is a far cry from the days of "The Cryptic One"...Former Fed Chair Alan Greenspan, who was famous for his hidden messages. After a Greenspan speech, many traders were left scratching their heads and wondering what exactly was said. In sharp contrast, Bernanke has been very clear and easy to understand.
More importantly, Ben has done a good job of keeping inflation under control. The latest read on inflation was tame for last month, as a large jump in energy costs were offset by meek automobile, housing, and clothing prices. This suggests that higher oil prices haven't yet pushed up the prices of other goods overall.
But one topic that is still cloudy is the Fed's next move on December 11th. The latest chatter from the "more transparent" Fed indicates that the Fed will not cut - but traders in the pits are betting the ranch on another quarter-point cut. One thing is very clear - this topic will be debated right up until the Fed makes the announcement.
Bonds and home loan rates saw quite a bit of activity in the holiday shortened week, but ended up exactly where they started.

I took the above passage from an email that was sent me by Todd Bookspan.
____________________________________
I could not have written it better. I believe the fed has to be fully open and realistic about the current US economy and what policies they need to make to improve the situation.

Phoenix Buys 945 Acres of Preserve Land

City of Phoenix Buys Preserve Land atRecord-Breaking Land Auction
2007 Marks Historic Year for State Land Department

PHOENIX, Ariz. (November 9, 2007) – Capping off a record-setting year for the Arizona State Land Department, The City of Phoenix expanded its open space land preserve acreage when Phoenix Mayor Phil Gordon gave the winning bid of $85 million for 945-acres of preserve land located East of I-17 and South of the Carefree Highway.
Today’s auction marked two major milestones:
This land sale pushed the value of the State Land Trust Permanent Fund above $2 billion.
This is the first time in four years that preserve land was sold under the Arizona Preserve Initiative.
According to State Land Commissioner Mark Winkleman, the auction marks major success for both the City of Phoenix and The State of Arizona.
“Selling 945-acres to the City of Phoenix for its Sonoran Desert Preserve is a benchmark event,” Winkleman said. “Importantly, it provides permanent open space for the public and it demonstrates that cities can work with the Land Department to acquire Trust Land for this purpose,” he said.
“I applaud Mayor Gordon, Councilwoman Neely and the City Staff for their leadership and willingness to accomplish this important task,” Winkleman said.
Winkleman explained that the Arizona Preserve Initiative is designed to encourage the preservation of select parcels of State Trust Land in and around urban areas for open space to benefit future generations. The law lays out a process by which Trust Land can be leased for up to 50 years or sold for conservation purposes. Leases and sales must both occur at a public auction.
According to Mayor Gordon, the vision that the Land Department leadership takes in the careful planning for land like this Sonoran Preserve area is vitally important to the City of Phoenix and the entire State of Arizona.
Gordon said the city plans on keeping the vast majority of the land as open desert preserve and eventually to create a 10-acre park in the area.
“The city and its residents have spoken up to preserve our beautiful desert and to help protect environment, and we are the stewards of that responsibility,” Gordon said. “This area will attract a great amount of retail and residential development and this preserve will be showcased as an important amenity for the entire city,” he said.
Winkleman stated that 2007 has been the most historic year ever for the State Land Department.
“This year we have seen a series of record-breaking auctions, welcomed and encouraged the commitment to smart growth by the development community and seen consistently growing demand for State Land,” he said.
Winkleman cited previous milestone auctions in the past year, including those slated for the master-planned development such as Lost Dutchman Heights and Desert Ridge as significant sales that helped the Land Trust Permanent Fund exceed the $2 billion value.
“Today’s auction really caps off a record-breaking year for the State Land Department,” Winkleman said. “The fact that in only six and a half years, the balance in the Land Trust grew from $1 billion to $2 billion is remarkable and a huge benefit to all benefactors, in particular the public schools throughout the state.”
Winkleman stated that the balance in the Land Trust Permanent Fund is expected to continue growing rapidly due to an outstanding principal receivable balance of $939 million on sales financed through the Department and the continued demand for State Trust land.
Winkleman explained that Permanent Fund receipts consist of revenues from the sale of State Trust land and the sale of minerals and other natural product. The Arizona State Treasurer invests and manages the funds. Permanent Funds are distributed to the beneficiaries, by the Treasurer, based on a constitutional formula that accounts for the average market value, the rate of return and inflation.
The proceeds from land sales and leases go to the beneficiaries of the Permanent Fund, primarily Arizona Common Schools, supporting grades K-12. The Arizona State Land Department manages 9.3 million acres of Arizona State Trust Land. (Arizona State Land Department Website http://www.land.state.az.us/news/2007/110807_result.htm)

Eloy, Rock and Roll Theme Park

Rock & Roll FantasyMarty West has found a way to show his passion for a unique theme park and Arizona.

Story by SUSAN RANDALL
November 12, 2007

Marty West and his partners found the land and part of the money for his dream amusement park. They hope to find the rest after convincing the state Legislature to extend the law on theme parks to include Pinal County.
West said he grew up in Scottsdale and loved Legend City, Compton Terrace and trips to Disneyland.
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He didn't understand until he was older that Arizona had no theme parks like Disneyland because it didn't have enough population.Well, now it does. And through a series of what West calls "weird coincidences," he has met and joined forces with people who share his dream.? Phoenix/Tucson is the largest market in the country without a theme park.
? The towns proximity to Arizona 87, Arizona 287, I-10, I-8, and the towns airport.
? Land is cheap.
? 16.6 million tourists projected around the Eloy area by 2012. Commercial real estate developer Greg Sherman, the other principal in the project, attended Coronado High School as did West, but they didn't meet until recently.
Why Eloy?
Spokesman Jason Rose realized that he had grown up in the same neighborhood as West, and "Hockey Marty" had recruited him to play street hockey.Others on the team are lobbyist Kevin DeMenna; attorney Jordan Rose; landowner/developer Chuck Sorensen; President Nancy D'Anna of Summit Title Agency; and President Peter Alexander of Themed Future Concepts LLC, former project manager for Disney's Epcot Center and Disney Tokyo and former vice president at Universal Studios, Orlando.Alexander just finished a feasibility study and five-year operating model for "Decades Music Theme Park" and will be chief executive officer, if it becomes reality. They plan to build the park in Eloy between Houser Road on the south, Shedd Road on the north, Eleven Mile Corner Road on the east and Tumbleweed (Tweedy) Road on the west.Why Eloy?"It's a blank canvas," West said. Rose said the area including Phoenix and Tucson is the largest market in the country without a theme park.The site is located in a good transportation corridor between Arizona 87, Arizona 287 and Interstate 10 and is near Interstate 8. It also is adjacent to Eloy Municipal Airport, home of the largest skydiving facility in the world with 180,000 visitors a year.A lot of land can be assembled there at a reasonable price, Jason Rose said. They cannot locate on an Indian reservation, he added. Theme park legislation restricts it because of gaming concerns. Alexander said that by 2012, the 150-mile radius around Eloy is expected to have 5.9 million residents and an annual tourist population of 16.6 million.He believes the park could attract more than 6 million visitors a year, provide 3,000 jobs and create a hub for other commercial development in Pinal County.The team plans to talk to Eloy about providing water."Anything we do waterwise will be good for Eloy and good for the environment," Rose said.The Eloy City Council is expected to approve a resolution Tuesday urging the Legislature to change the law to allow it and Decades to create a Theme Park and Support Facility District.Rose said this would allow the group to issue revenue bonds to repay the investors, and repay the revenue bonds with an additional 9 percent sales tax on all transactions inside the park. It would not displace current city, county or state sales taxes or affect sales taxes outside the park.'Fun, fun, fun'West's vision is to incorporate four decades of rock 'n' roll.The 1950s area would be reminiscent of Palisades Amusement Park in New Jersey and include rides like Bill Haley & His Comets' "Rock Around the Clock" Ferris wheel, Ritchie Valens' "La Bamba" carousel, Jerry Lee Lewis' "Whole Lotta Shakin' Goin' On" roller coaster and Danny & the Juniors' "At the Hop, " an overview ride. Every decade would have overview rides with tours of music and memories - like the History Channel if it were a three-dimensional, whole-body experience.The 1960s area would include The Beach Boys' "Little Deuce Coupe," miniature cars that visitors could drive down a winding road to a real hamburger stand at an artificial beach.Well she got her daddy's car/ And she cruised through the hamburger stand now/ Seems she forgot all about the library/ Like she told her old man now/The '60s also would include John Fogerty and Creedence Clearwater Revival's "Green River" rapids ride with passengers in crafts that looked like large inner tubes; Jimi Hendrix' "Are You Experienced," a tour of the '60s in miniature yellow submarines; and The Doors' "Riders on the Storm," a dark ride starting in a Victorian house like Phoenix's Rossen House and taking riders in miniature 1956 GMC trucks down and under the park.Dark rides, Rose explained, are indoor rides that move the passenger through a story like the Pirates of the Caribbean at Disneyland. The Who's "The Kids Are Alright" would be a small amusement park for children with rides like Sammy Hagar's "I Can't Drive 55," Ratt's "Round Round About" tea cups, and the Steve Miller Band's "Jet Airliner" plane rides. The '70s would include the Eagles' "Hotel California," a log flume ride with miniature, floating Mercedes Benz cars instead of logs. The last, long drop of the ride would include a screaming guitar: "You can check out anytime you like / But you can never leave."The '70s also would include Supertramp's "Breakfast in America," a ride of spinning coffee cups circling a waitress like the one on the album cover; and Kansas' "Point of Know Return," a pirate ship water flume ride with a 56-foot drop. Visitors would pass through Pink Floyd's "The Wall" to reach the 1980s and a dark ride with the same name.Bob Seger's "Fire Lake" would be a pyrotechnic lake for stunt shows. Ozzy Osbourne's "Crazy Train" would be a steel mule coaster that wrapped about a miniature Picacho Peak. The Grateful Dead's "Fire on the Mountain" would be a log ride in a country setting.Grand Funk Railroad would surround the park, with stations in every decade. In the center of the park would be an Arc de Triomphe shaped like the "M" for MTV with two corporate suites on top.Also inside the park would be "Compton Terrace," an outside concert arena for 16,000 to 17,000 spectators, a 5,500-person indoor Spirit of the Radio Concert Hall and an 850-room condo-hotel, whose guests could leave and return to the theme park whenever they wished.Near the entrances to the hotel and theme park would be retail shops, nightclubs and restaurants.West said he spent almost 20 years planning this theme park."It's not research," he said. "It's my life."To learn more about the proposed theme park log on to www.DecadesUSA.com.
©Casa Grande Valley Newspapers Inc. 2007

ARIZONA LAND AUCTION RECORD RESULTS

Over the past 4 months the Arizona State Land Department as achieved 2 record land sales and a record breaking lease.
On April 17, 2007 the Land Department auctioned 269 Desert Ridge (North Phoenix) acres for $149 million. This produced the highest land sale price in the Department's history.
On May 24, 2007 the Land Department leased 124 commercial acres in Scottsdale for $68.5 million.
On May 31, 2007 the Arizona State Land Department set a department record for highest price paid per acre. The Department sold 26 high density residential acres for $28.5 million. This price was 36% greater than appraised value.

ANOTHER SUCCESSFUL ARIZONA STATE LAND AUCTION

(December 14, 2006) The Arizona State Land Department has held another hugely successful land auction. The State of Arizona has leased 11,900 acres to Volkswagen of America for $55 million over the next 25 years. This tract of land lies 40 miles west of Pinal County and Stanfield, Arizona and 10 miles west of Gila Bend along I-8.