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Light Rail District, AZ Real Estate News

By Jack O'Neal
(HomeSmart Elite Group)
Local Business with great food To many local business have closed and been replaced with national chains or just left vacant I have gone to Franks-A Lot for years and it a great place to stop and eat.  Close to a light rail stop   Check the Yelp Reviews     Franks-A Lot 15 N 40th St Phoenix, AZ 85034    
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By Nick Bastian, Real Estate Agent - Tempe
(Realty Executives)
Have you ever been late for a train and simply forgot to wear your pants? Well, that’s one of the angles behind the “No Pants Subway Rides” all over the world. Yes, really. The local jokers at Improv AZ have confirmed participation in this national day of pantslessness with the Improv Everywhere No Pants Subway riders. Yes, the fourth annual No Pants AZ Light Rail Ride will be happening on January 8th 2012. Per Improv AZ: “REQUIREMENTS FOR PARTICIPATION: 1) Willing to take pants off on light rail. 2) Able to keep a straight face about it. ** THIS IS A PARTICIPATORY EVENT. DO NOT SHOW UP UNLESS YOU PLAN TO TAKE YOUR PANTS OFF. THIS INCLUDES THE MEDIA! **” At first, a No Pants Light Rail Ride might sound a bit odd, or even obscene, but don’t let that stop you from meeting up with a bunch ...
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By Nick Bastian, Real Estate Agent - Tempe
(Realty Executives)
So, I didn’t get an $88 million home for Christmas like Ekaterina did. Maybe next year I’ll find a long lost relative that wants to hide some cash. Yes, $88 MILLION. You heard the story, right? Russian Billionaire’s Daughter Gets $88 Million Penthouse as NY Crash Pad Ekaterina’s dad is a Russian billionaire, I’m assuming he helped her out with this purchase which, by the way, isn’t the only place she calls home. According to NBC’s Brian Williams, she has another home in Monaco, as well. For $88 million, Ekaterina gets approximately 6744 square feet of living space which should make for some decent college parties. The apartment has 4 bedrooms and 4.5 bathrooms with a pretty sweet view of the park. Of course, concierge service and an elevator attendant are included along with a fitness r...
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By Brian Dunshie, Realtor - Arizona Biltmore,Arcadia,Paradise Valley
(Russ Lyon | Sotheby's International Realty)
Local First Arizona (LFA) has launched “Shift the Way You Shop,” a campaign aimed at strengthening the local economy, increasing civic pride, and changing consumer buying patterns to increase the economic and cultural sustainability of the region. During this economic downturn LFA has identified a plan that will assist in economic recovery. It will also improve our environment, create jobs and enhance community development. To celebrate all of the wonderful local businesses in the valley, Local First has partnered with METRO to create a light rail wrap and a full marketing campaign to run through the holidays that will include a mobile app which riders can use to find any locally-owned retail store, restaurant or entertainment within ½ mile of each light rail stop. The mobile app is fr...
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By Nick Bastian, Real Estate Agent - Tempe
(Realty Executives)
Lofts located near the light rail line in Phoenix and Tempe are a way to get more of an “urban” feel than your traditional tile and stucco job found in most of our outlying cities. This week, I visited two different loft communities that I think are pretty cool. The first place we stopped was the Lofts at Orchidhouse in Tempe which are located at 21 East 6th Street just East of Mill Avenue in the heart of the ultra-cool Mill Avenue District. For urban enthusiasts, this beautiful building and it’s loft style condominiums are a great fit. Just a short walk to two different light rail stations, the Lofts at Orchidhouse really are close to just about anything you could want. Great restaurants, shops, ASU, Sky Harbor International Airport, the Phoenix Zoo, Tempe Town Lake and much, much more...
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This past weekend I was previewing some condominiums and lofts in the downtown area for an out of town client. It had been a while since I had taken a serious look at these types of properties and I was really surprised to see the great value in these developments.  As many of us know, there was an explosion of developments in the downtown Phoenix and Tempe areas during the real estate boom.  Some of these developments were finished, some of them started building and never finished, and many were not started at all. Personally I was concerned about the value some of these developments represented during 2004-2006, with many in the $500.00/sq ft price range.  Now that some of the crisis has shaken out, many of these developments are very attractive. I looked at some of the very same unit...
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By Nick Bastian, Real Estate Agent - Tempe
(Realty Executives)
If you are an agent that sells homes near transit lines or that feels like living near a light rail system could be a benefit to home owners or investors, I would ask that you contact your local transit authority to get your area added to the Walk Score system. Walk Score is a great tool we have used for quite some time to allow people to “score” a home based on it’s “walk-ability.” While I believe it is a great tool, I hadn’t really been quite as excited as one might think, mostly because their algorithm hadn’t included public transportation, mainly, light rail. Recently, that excitement has changed slightly as I have seen several blog posts about new transportation data being used in evaluating a Walk Score. The reason I say slightly is because the Phoenix Metro area does not yet have...
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By Nick Bastian, Real Estate Agent - Tempe
(Realty Executives)
Recently, the Metro Light Rail board of directors voted to extend the weekend hours of light rail in Arizona on Friday and Saturday nights. This extension allows Phoenix light Rail riders to ride until after 2am on Saturday and Sunday mornings. Given the fact that the extension is said to be implemented on a "trial period" of one year, a group of people have decided to help with an awareness campaign for the newly appointed hours. Enter "Night Rail" which is being held tonight, 7/31! From the Rail Life blog we see that... "If you are a fan of the extended light rail hours, a friend of business owners along the line or just a fan of having fun, join us for Night Rail. Several groups will be getting together along the line throughout the evening and then meeting at the Roosevelt Station a...
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By Nick Bastian, Real Estate Agent - Tempe
(Realty Executives)
Light rail expansion plans have been quite the topic of discussion lately due to reports in the paper and because of a Mesa city council presentation where Metro recommended the extension of light rail down Main Street in Mesa. The route appears to make a lot of sense to Metro and to the council, as the questions and comments at the presentation appeared to favor an extension along Main Street. Many of the reasons to favor the plan have to do with demand, development and potential for growth. The high cost of light rail was analyzed against other options and is thought to be superior in long term costs and return to the community, by moving more people and creating economic development opportunities in the region. There has been a great deal of study and analysis on three different rout...
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By Nick Bastian, Real Estate Agent - Tempe
(Realty Executives)
I realize that "luxury" homes, lofts, condos and high rise units mean different things to different people. For this post, I chose the $750,000 price range to begin my search of some really cool homes near light rail.  Today, I looked at a search and found 59 homes priced at $750,000 and above available in this "city within cities" that we call the light rail corridor. The highest concentration is near Hayden Ferry in Tempe with several in Phoenix along Central Avenue ranging from gorgeous single family homes to luxurious high rise living. Here is a partial breakdown of the data of luxury homes near the light rail line: Active listings priced at or above $750k - 59 Avg, list price $1,173,036 (low, $759.9k - high $3.3 million) Approximate square foot range: 2,609 sq ft. (low 791 high 5,5...
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