Phoenix Real Estate
With its wonderfully diverse population, Phoenix is the Southwest home to a large international community with Hispanic and Native American heritage especially influential throughout the greater Metropolitan area. Centrally located in the Valley of the Sun, Phoenix is the hub of a wheel of 20 bedroom communities including Scottsdale, Mesa, Glendale, Chandler and the college town of Tempe. Phoenix’s population explosion in recent decades brings the current population to 1.5 Million making it the 6th largest city in the nation. Whether it is retirement, starting a new job or entering college, new residents continue to stream into Phoenix daily.
While the city of Phoenix is located in the high desert, it is far from desolate. On the contrary, a vast network of canals bring water from the Colorado River. Rain, although rare, and runoff from snow in the northern mountains also add to the water reserves. Due to the efficient management of the area’s water works, one will see landscaped parks, golf courses with the finest greens, and highways and streets lined with palm, olive and citrus trees. In March and April the air is filled with the sweet scent of orange blossoms, making spring a favorite time of the year.
Phoenix sports fans are not lacking teams to pledge their loyalties. Phoenix is home to the Arizona Cardinals, the Arizona Diamondbacks (2001 World Series Champions), the Phoenix Suns and the Phoenix Coyotes. For the youth of the Valley, the weather allows for baseball and football little leagues and club ball year round.
The hub of Phoenix is its downtown area which is the core employment and culture center. Growth has been spurred by the new light-rail system, retail expansion and a major increase in commercial development. Arizona State University’s addition of a Central Phoenix campus has added a new vibrancy. Festivals and events are abundant and reflect the diverse cultural population in Phoenix.
Phoenix is the “Silicon Valley” of the Southwest as the third largest semi-conductor city in the U.S. High-tech companies such as Honeywell, Sitix and Bull Worldwide Information Systems bring in talent from all over the world. Private sector employers including Motorola, US Airways, Banner Health systems, American Express, Phelps Dodge, U-Haul International and Apollo Group add to the thriving business culture.
Phoenix is a popular retirement destination due to its sunny days and affordable life-style. Warm weather, an abundance of sunshine, and golf courses led to tourism as one of the area’s leading businesses and employs 250,000 people year round as support.
Phoenix Housing Market
Phoenix has enjoyed a renovation of its core downtown neighborhoods, and the college expansion has resulted in sought-after areas like Garfield, with its artsy appeal. This revival has spread to include high-end homes and condominiums including the Center 8 Townhomes which bring a timeless elegance to downtown. Move away from the downtown area and a home buyer will find beautiful subdivisions in both new and established neighborhoods with homes ranging from long low ranchers to the Southwestern red tile roofs. Because of its size and diversity in housing styles, and depending on the zip code, the Phoenix median housing price ranges from $122,000 to $320,000. Rents are holding between $1,200 and $1,400.