Community Spotlight – Sycamore Square is a post from: Rail Life

For this community spotlight we head to Mesa, just north of the Sycamore station, to check out Sycamore Square.

Sycamore Square consists of 30 homes that feature covered parking and a nice community pool in a very “transit friendly” location. On the map below, you can get a good idea of how close the community is to the light rail line.

While recent sales in the area have been in the $40-$60k range, don’t expect those numbers to last long. Investors and people looking to live near the line are realizing how much a transit friendly lifestyle can be a convenience and a money saver.

We get a LOT of calls and inquiries about “affordable” homes near the light rail line. While many people understand the importance of living in walk able areas near transit, they don’t always grasp the fact that it might cost a few extra bucks to live there. Once people stop to factor in the time savings, gas savings, possible insurance savings and many other factors, the light begins to go off in their heads.

We often talk of the neighborhoods along the line as being part of a “city within cities” where people have easy access to all of the things along the entire light rail line. Jobs, sporting events, restaurants, bars, concert venues and so much more. Living at Sycamore Square would certainly give people easy access to all of the great things along the entire line and help them save some cash along the way.

View Homes Near METRO light Rail in a larger map

Built in 1984, the townhomes at Sycamore Square average 1119 square feet. Two floor plans were built, one is 1067 and the other is 1170 square feet.

302 North Sycamore – Mesa, AZ.

If you would like more information about homes near the light rail line, please contact Nick Bastian at Realty Executives. Nick can be reached at 480-463-4514 or via email at nick at RailLife.com.

Tempe Allstate Employees In Good Hands is a post from: Rail Life

It was recently announced that Allstate Insurance Company has leased 66,000 square feet of office space at the Tempe Gateway building located at Mill Avenue and 3rd Street. Yep, right next to the Mill Avenue light rail station.

The Tempe Gateway building is 8 stories tall and has 260,000 square feet of Class A space about as close to a light rail station as you can get. While the new Allstate employees will have plenty of choices at nearby restaurants, shops and bars on Mill Avenue, their proximity to a light rail station is sure to get a few of them exploring other places along the line. For any Allstate employees that might not be familiar with our “city within cities” known as the light rail corridor, here are a few ideas to try once you decide to explore outside of the Mill Avenue District.

1. Catch a game: Like most people in AZ, you will probably be driving to work ( at first). If there is a Diamondbacks or a Suns game, leave the car at work and take the train to the game!  Remember, if you go to an event at the US Airways Center, you ride for free, your ticket IS your light rail pass!

2. See a play, visit a museum: The 20 mile light rail line has a LOT to offer: the Heard Museum, Symphony Hall, Orpheum Theatre, Arizona Science Center and so many more great places to explore. The arts community is indeed alive and well.

3. Check out the Market: The Downtown Phoenix Market is a great place to visit during the week and on the weekend. Great things are happening there. Check out the open air market on Wednesdays and Saturdays, visit the store, check out the coffee shop and don’t miss Food Truck Fridays.

4. Grab Some Grub: Jump on the train and head either direction for a ton of great places to eat along the line. Just east of you at the Dorsey station, you will find Haji-Baba. Thank me later for this tip. Head west into Phoenix and don’t miss gems like The Roosevelt, Cibo, Maizie’s, Lux and so many more awesome spots. Of course, you will want to find a great place for a drink or a cup of coffee. That’s easy too with a TON of great choices.

5. Buy A Home: Yeah, it’s only a matter of time before many of these Allstate employees will want to live close to work. Imagine walking from your home to a light rail station and having the train drop you off at the front door of your office? How cool is that?!? Heck, there are some great places to live right here within the Mill Avenue District. Luckily, Tempe’s greatest real estate agent can help you out… You may want to find a place within about a 1/2 mile from a light rail station as that seems to be the most convenient for may people working along the line. Luckily, you have choices in Mesa, Tempe and in Phoenix from gorgeous condos to some amazing single family neighborhoods.

If you are working at Allstate, watch out for the guy in the pic below. He lives nearby and drives his cool bike past your building, often. Make sure and say hi when you see him. :)

Allstate is said to be moving in to the building by September of 2012. 66,000 square feet of office space means that a bunch of new faces will be working at Tempe Gateway. It will be nice to see some new faces in the area. I hope they know that their life is on the line…

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FREE at What Cost is a post from: Rail Life

Going Green

So, I read some more about Shea Homes striving for an “electric bill of zero” in 10 communities across the nation, including one in San Tan Valley. While I think the idea sounds cool and I’m glad we are getting closer to this being the norm, part of me wants to say…

“San Tan Valley? Really?”

Talk about one of the sprawl capitals of the universe. Driving from San Tan Valley to one Diamondbacks game in the Suburban could just about burn half a month’s worth of savings from a normal electric bill…

I looked at the “Walk Score” of some listings in that area and came up with numbers like, 5, 9, 11, 12, 14, 17, etc. Heck, when I saw a walk score in the high 30′s, I thought I was doing AWESOME!

I’m not sure if you have heard, but gas prices are rising. As the real estate market begins to heat up again here in the Valley, one would hope that people remember to factor in the housing and transportation “affordability factor” when making their decision on where to live. For me, you couldn’t GIVE me the home if I had to be in the car an extra hour and a half each day.

The New Normal:

While zero electric bill community builders are to be commended for reducing utility costs, the real story ( in my opinion ) is we are closer to hearing of low to no energy consumption communities becoming even more prevalent in the future. As the cost to build homes with solar power, new energy efficient technologies, better insulation, etc. becomes more affordable, we will see more infill developments in great locations. As developers begin building more communities where each person’s energy consumption is far less than what is normal by today’s standards, the economic and environmental impact will be far reaching. As homeowners spend less on power, they will have the ability to buy homes in areas that may have previously been out of reach.

“So much of the cost of these systems is, frankly, the intellectual capital to design it for each individual house,” Andreen said. “The cost of that can be spread over hundreds of homes, not one home, and that’s a huge difference.” – Shea Homes

Small disclaimer: I am not trying to bash or take away from any lifestyle, area of town, or home builder. Heck, as a real estate agent, I have sold many new homes in the burbs and that lifestyle is just right for some of my very good friends.

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Bravo For Encore is a post from: Rail Life

Encore of Farmer

Last year, I started talking about a cool project called Encore on Farmer that was under construction in downtown Tempe. Encore isn’t for everyone. In fact, if you are not 55 years of age or older, it’s not for you.  However, if you do qualify to live at Encore, you will have a spiffy new place to call home in one of the state’s most urban, walkable environments.

These one and two bedroom units recently opened to residents. This week, there was a ribbon cutting ceremony where Encore employees, city officials, community activists and Encore residents gathered to celebrate the opening of the project. On hand were people like City Manager Charlie Meyer, Mayor Hugh Hallman, Councilman Corey Woods and future Councilman Dick Foreman.

What people saw is a new “urban living environment” consisting of 56 units in an area that many believe could be a big part of the “new downtown” once the Tempe Streetcar starts traveling in the neighborhood. Onsite amenities at Encore include a fitness room, iMac bar, community room, storage lockers and more. Yes, an iMac bar.

iMac Bar at Encore on Farmer

Green and Convenient:

The rooftop of Encore on Farmer is a sea of solar panels, there is a great walking / bike path directly east of the property, the free Orbit bus system cruises the area, and the light rail station on Mill Avenue is just a hop, skip and jump away.

Here’s what the DTC says about Encore:

“Urban living for independent seniors, this 5-story apartment building is aimed at fixed income, active adults over the age of 55.  Encore features 56 affordably priced rental units featuring one and two bedroom floor plans.  The property features walkable connections to Mill Avenue, covered parking and secure elevator access.  Other ammenities are on-site storage, laundry and exercise facilities, convenient public transit options (Orbit circulators, light rail, and the future planned street car stop), and easy access to parks, hiking and bicycle trails.”

Below is a short, poorly done video showing the interior of one of the one bedroom units at Encore. If you are really smart, you’ll take a look for yourself. :)

It will be interesting to watch this area evolve. The Mill Avenue District has seen a pretty sudden convergence of hundreds of new people beginning to live downtown. The West 6th towers brought hundreds of people to the area less than a year ago. While West 6th and Encore on Farmer are leasing units, there has also been high demand for places like The Brickyard, Hayden Ferry, Regatta Pointe, Hayden Square and more. Rentals, or not, the Tempe real estate market seems to be gaining a lot of steam. Hopefully, we will begin to see more cool projects like this along the entire 20 mile light rail line. Urban living is becoming popular for more people every day.  Encore is a great example of that demand.

Bravo for Encore.

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2012 Willo Historic Home Tour is a post from: Rail Life

Everyone LOVES the Willo Historic District. Yes, everyone. The annual Willo Historic District Home Tour attracts thousands of people each year because of this love affair with cool homes in this awesome downtown Phoenix location.

The self guided tour of Willo allows people to peak inside of some really great homes while walking the tree lined streets or by taking one of the shuttle busses around the neighborhood.

This year’s Willo tour will showcase 13 homes and the historic firehouse at 13th and Jewel. In addition to touring the homes, there is a LOT of excitement around the Willo street fair that will have food, artisans, music and more. It’s a great way to spend a Sunday.

2012 Willo Home Tour:

Date: Sunday, February 12th, 2012

Time: Tour open 10am-4pm ( pick up will call tickets starting at 9am)

Place: Willo! ( McDowell to Thomas – 1st Ave to 7th Ave

Tickets:  You can BUY TICKETS for $15.75 before the tour, $18.00 day of tour

Parking: Free parking at 1st Ave and Holly ( just north of Chateau )

TAKE LIGHT RAIL: Seriously, why would you try to park with 3000 other people?

The video below from the city of Phoenix gives a great overview of what to expect at the Willo home tour.

As we mentioned above and as it says in the video, the light rail is a great way to get to and from the Willo Home Tour. Below is a map of the area. If you are first time riders or are not familiar with riding the trains, please keep these things in mind.

1. Purchase a light rail pass. An all day adult pass is just $3.50.

2. Take advantage of the FREE Park and Ride lots.

3. Know your light rail stations. See the light rail map below.

View Homes Near METRO light Rail in a larger map

Proceeds from the Willo Historic Home Tour benefit the neighborhood, the park and the overall community. This is an awesome volunteer effort that ultimately benefits Willo and the surrounding areas. At Rail Life, we highly suggest that you take time on Sunday to see these cool homes and experience the area.

“A variety of homes from Tudor to Spanish Revival – Bungalow to Ranch style homes dating from the 1920′s through the 1940′s will be on tour.” – Willo Home Tour

To truly experience Willo, you might want to tour the homes for sale in Willo which can be done just about any time. Take a look below. You’ll be glad you did. :)

Check out the Willo Home Tour on Twitter, as well.

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Money is Cheap Cash Still King is a post from: Rail Life

During this time of record low mortgage rates, many people still seem to be surprised when they hear of how many homes are selling for cash.

Recent numbers released by the Arizona Regional MLS show that 2011 saw the second highest number of home sales in the last decade, which was surpassed only by the “insanity” that was 2005. Yes, really.

2011 saw 100,959 home sales in our market. Of those sales, nearly half ( over 47,000 ) were CASH sales.

Cash Still King

Investor activity high:

Of the homes sold in our market, 87% of them were under $200,000 purchases. Of that 87%, we see that a total of 63% of 2011 home sales were below $100,000! Investors are snatching up homes like crazy. Heck, remember 2005?  You were hard pressed to find anything for less than $100,000. For now, you can find some “affordable” properties along the line. Yes, for the most part you will be paying quite a bit more for a home along the line than for one in outlying areas of town, but think about it… It’s money well spent. Time is money, that will never change.

Today, I noticed 16 of the 64 single family homes for sale within ( approximately ) 1/2 mile of a light rail station were priced below $100k. Of the 91 condos for sale near the line ( includes lofts, patio homes, etc. ), I noticed 31 priced at or below $100k.  These numbers change rapidly and sales have been many. Multiple offers and bidding wars are prevalent in this market. While the media is still perpetuating the false notion that real estate sucks, more than a few people seem to disagree.

We are talking to many parents buying homes for their kids utilizing cash AND “kiddie condo loans.” Many of the non cash sales were FHA loans, and the kiddie condo loan is a very cool FHA product for that ASU student looking to live off of campus. The map below shows just a sample of places to live along the line. Cash or not, life along the line is pretty darn cool…

View Homes Near METRO light Rail in a larger map

If you have any questions or comments, “Just Call Nick!”

Photo / graphic by Arizona Regional MLS

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Real Estate Market Says Go For A Walk is a post from: Rail Life

Most of us know the importance of walk ability when it comes to choosing a place to live. As we’ve said before, it seems like more people in the Phoenix Metropolitan area are becoming aware of a more urban lifestyle, but most still prefer to drive.

We’ve heard a lot about the trend to build infill developments in urban cores for several years now. Who knows, the time may be right. In our area and across the country, people seem to desire the convenience and time-saving aspects of living in walk able neighborhoods.

“Six in 10 adults said they would rather live in a neighborhood that featured a mix of houses, stores, and businesses within an easy walk” – 2011 Community Preference Survey

Living, working and playing close to home can be convenient and cost effective. Around here, many people are surprised to discover how few choices we really have, though.  Affordable housing near the light rail line is scarce, off-campus housing for ASU students can be difficult to find, and seniors have limited options, as well. Yes, thousands of homes and apartments are scattered along the 20 miles of our light rail system, yet true urban and walk able experiences are much more limited than those found in other cities.

As we see new infill projects come to life, I believe it will help many aspects of the market. While people love the ( hard to find ) single family housing neighborhoods close to convenient transit options, there is also a clear need for mid level, multi purpose developments where restaurants, shops and offices share space with residential components.

Lord knows we have plenty of infill spaces in the Valley. As one of the major sprawl centers of the universe, Phoenix grew for decades, leaving many smaller yet great spaces unattended to. Along the 20 mile stretch of our light rail line you won’t ride for long without being able to see many desirable locations where quality development is just waiting to happen. And happen it will:

Think about it. Demand for homes and business along the line has been high, yet choices remain lower than many realize. When you think about walking somewhere in our towns, the areas in downtown Phoenix, the Mill Avenue District and a few others are considered pretty convenient and easy to get around. For instance, I can easily walk from the light rail station on Mill Avenue and head down to a place like La Bocca with no problem. It takes just a few minutes to walk there, and the many places I see while on my way make for a much more pleasant journey. On the other hand, if someone walks from Lux in Phoenix to the George and Dragon, the amount of “dead space” on the way makes the walk seem so much farther.

As we continue to grow and as we continue to see even more urban spaces become available, I believe we will continue to see some great things happening along the line. Homes, entertainment, shopping and more can and should all be right outside of your front door.

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Lakeside Living In Tempe is a post from: Rail Life

Lakeside living in Tempe AZ offers a unique opportunity to live an urban / active lifestyle where people have easy access to hiking, biking, boating, sand volleyball and so much more. Living in or near the Mill Avenue district, people also have the convenience of a lifestyle that is arguably Arizona’s most urban environment with incredible restaurants, shopping, and nightlife, along with a good ( and improving ) transportation system that allows easy access to some of the valley’s top sports and entertainment destinations. 

From your home near Tempe Town Lake you are just minutes from the Phoenix light rail line where you can get to even more sports and entertainment venues, concert halls, the Heard Museum, US Airways Center, Chase Field, etc., etc. Seriously, the entertainment options are nearly endless.

Sports? Did I mention that people living near Tempe Town Lake practically have ASU in their back yard?  Join the fun in cheering on the Sun Devils!

So, what communities are close to the lake? I thought you’d never ask.

Let’s take a look at 4 of them:

The North Shore Condominiums are, surprisingly enough, on the north side of the lake. While North Shore is the furthest from a light rail station, the location still rocks and is conveniently located near freeways, Phoenix Sky Harbor International Airport, the Mill Avenue District, Tempe Marketplace, Arizona State University, restaurants, golf, shopping, entertainment and so much more. Northshore offers some great views in a resort-like setting.

Several different views are available from the condos at North Shore. The units facing the courtyard have views of the water, while other units can see Sun Devil Stadium and down to Hayden Ferry.

Speaking of Hayden Ferry, you have two gorgeous buildings to choose from at Hayden Ferry Lakeside. The two buildings are Edgewater and Bridgeview.When people think of luxury lake front living near Tempe Beach Park, these two buildings are normally at the top of the list. Awesome location, amazing views, and amenities galore can all be found at Hayden Ferry.

Not far from Hayden Ferry you’ll find Regatta Pointe:

Regatta Pointe consists of three buildings with separate addresses. If you just need to be close to the shores of Tempe Town Lake, this place has you covered. If you need some awesome views of the lake and /or the nearby mountains, make sure to look at the correct building. I’m pretty sure that your favorite Tempe real estate agent can help you make some good decisions. :)

525 Town Lake is the address and community that rounds out our examples of Tempe lakeside living. This gated community is just south of the lake off of Rio Salado Parkway. I like the look and feel of this community even though they don’t have quite the “views” as some of the other buildings. As with all four of these examples, you are minutes from a lifestyle that many people didn’t know existed in Arizona. You really should get out and explore all that is happening around Tempe Beach Park and Tempe Town Lake.

The future is sure to bring even more entertainment and recreational options to the area. There has even been talk of creating a sand beach area for all to enjoy.

Again, if you would like more information about the “urban beach” lifestyle that can be found in Tempe, feel free to contact Rail Life via Twitter, Facebook, or you can reach Nick Bastian at Realty Executives by calling 480-463-4514.

Take a closer look at “lakeside living” in Tempe, you just might like what you find…

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$88 Million Kiddie Condo Sale is a post from: Rail Life

Around here, we’ve been known to talk about some of the cool homes located along the light rail line. One of the largest demographics benefitting from living along the line are students at ASU. Many ASU students work hard for their money and some of them enjoy a little bit of help from mom and dad. While some of you have had some help, I’m pretty sure none of you has had as much help as Ekaterina Rybolovleva. Ekaterina is a Russian student in New York who just purchased an apartment in New York for a cool $88 Million.

Yes, $88 MILLION.

Ekaterina’s dad is a Russian billionaire, I’m assuming he helped her out with this purchase which, by the way, isn’t her only home. According to NBC’s Brian Williams, she has a place in Monaco, as well.

Check out the WalkScore on this bad boy…

For $88 million, Ekaterina gets approximately 6744 square feet which should make for some pretty fun college parties. The apartment has 4 bedrooms and 4.5 bathrooms with a “decent” view of the park. Of course, she gets concierge service and an elevator attendant along with a fitness room and a rooftop garden to do some studying.

The monthly maintenance fees for the building at just over $8,800.00 and the property taxes are just under $5k per month. While I would imagine that daddy paid cash for the home at 15 Central Park West, I checked to see what an estimated payment would be on $88 million with a 20% down payment and came up with $391,747.18 PER MONTH.

While we have helped ASU students find cool places to live, all of them put together haven’t totaled $88 million. Maybe that’s because your mom and dad don’t know about Kiddie Condo loans! Heck, your mom or dad doesn’t need to be a Russian billionaire, they just need to co-sign on a place for you. For FAR less than $88 million, you can get a decent pad at Chateau on Central or maybe snag a place or two to crash at Hayden Ferry.

Students anywhere near Arizona State University should immediately forward this article to mom and dad and DEMAND that they buy them a home near campus.

It’s only fair…

Hey Gracie NIMBY is a post from: Rail Life

For years, there have been talks about bringing higher density to places along the light rail line. In fact, the Apache Corridor in Tempe has been one of the areas where many feel there can / will be some major changes in the future.

“Encourage reinvestment in the Apache Boulevard area in order to build a more desirable neighborhood in which people will enjoy living and working. Enhance the positive aspects of this area and promote desirable reuse of the land.” – Quoted from the Apache Boulevard Redevelopment Plan

Over the past several months, there has been a lot of discussion about the redevelopment project that will be called Gracie’s Village. Currently, Gracie’s Thrift Store sits on approximately 2 1/4 acres at 1520 East Apache Blvd in Tempe and is owned by Grace Community Church. In the future, Gracie’s is purposed to be a 5-story, approximately 100,000 square foot LEED certified building consisting of the thrift store, a community center, internet cafe and 74 affordable living apartments for people in the 40-60% median income range.

Development and funding for Gracie’s:

So how does this thing get off the ground in these challenging economic times when redevelopment seems so difficult? According to Garin at the Tribune, the $19 million project could be part of the Sustainable Communities Development Fund. Information that I collected from Gracie’s indicates that the ( private ) developer of the project will be Gorman & Co. with a collaboration of federal, state, local entities  along with  a non-profit. ( Grace Community Church )

While the project is slated as affordable housing, it has been stated that this does not mean student or Section 8 housing.

Neighborhood Opposition:

Some of the surrounding neighborhoods have been vocal in their opposition to the development of Gracie’s Village. Driving through the University Heights neighborhood to the north and the Hudson Manor neighborhood to the south you see dozens of signs protesting the project’s height and apparent disruption to their area. Picketers have protested outside of Grace Community Church, as well.

It seems like some of the neighbors in the single family homes close to the project are against the proposed density of Gracie’s Village. To be clear, there are other factors that weigh in to their opposition, but the 5 story height of the building is certainly a major factor. One interesting fact about this area is that it is already one of the most densely populated areas in the entire Valley. In addition to many homes, condos, and apartments, there are many restaurants and shops located nearby. Being close to so many neighborhood amenities and being between two light rail stations allows residents to live a much less car dependant lifestyle. Yes, transportation does play into both the pro and con side of the equation. Opponents say the development would bring more traffic and parking problems while proponents might say the proximity to light rail could / would be a huge benefit.

No Formal Plans Submitted:

It’s my understanding that all of this fuss is over a project that has not yet been submitted to the city for review. It sounds like there may be some anxious developers and some over zealous opposition making a big fuss over something that hasn’t really even seen the light of day yet. Once the city gets the plans for review, it’s anyone’s guess as to how this thing plays out. One thing is for sure, it will be interesting to watch.

The Business Journal has posted a rendering of the project. Take a look, let us know what you think.

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