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Real Estate Market Summary :

This year has been one of ups and downs for metro Arizona’s housing market, but the area’s existing-home median price is now exactly what it was a year ago. The price is hovering around $115,000, according to housing-data company the Information Market. The price fell to $115,000 a year ago, and stayed there for half of 2011 before climbing and falling by a few thousand dollars each month during the summer.

The number of foreclosures, however, has clearly dropped during the past year. In October, lenders took back 2,233 homes in the Arizona area, down from 2,687 in September, and nearly half the area’s foreclosures two years ago.

Notices of trustee sales, the alerts commonly called pre-foreclosures, also dropped in October, typically a good indicator that foreclosures will continue to fall. Lenders sent notices to 4,180 borrowers last month in Maricopa County, down from 4,335 in September. By comparison, in March 2009, pre-foreclosures hit a record 10,099. Home sales across the Phoenix area fell last month despite low mortgage interest rates. In October, there were 7,151 homes sold in the region, down from 7,673 the month before.

"There was a lot of drama and speculation about Arizona’s housing market this year," said Tom Ruff, real estate analyst with the Information Market.

"People spooked the market by forecasting for the area’s median to fall below $100,000, and for foreclosures to soar again. Neither happened this year."

City Info :

Phoenix, located in Maricopa County, is the largest city in Arizona and also the state capital. Other prominent cities in the Phoenix metro area include Mesa (the third largest city in Arizona), Glendale, Peoria, Chandler, Sun City, Sun City West, Fountain Hills, Surprise, Gilbert, El Mirage, Avondale, Tempe, Tolleson and Scottsdale, with a total metropolitan population of just over 4.3 million.

Tucson is the state's second largest city, and is located in Pima County, approximately 110 miles (180 km) southeast of the Phoenix metropolitan area. The Tucson metropolitan area crossed the one-million-resident threshold in early 2007. It is home to the University of Arizona, which, along with Arizona State University in Tempe, are considered the state's flagship universities.

The Prescott metropolitan area includes the cities of Prescott, Sedona, Cottonwood, Camp Verde and numerous other towns spread out over the 8,123 square miles (21,000 km2) of Yavapai County area. With 212,635 residents, this cluster of towns forms the third largest metropolitan area in the state. The city of Prescott (population 41,528) lies approximately 100 miles (160 km) northwest of the Phoenix metropolitan area. Situated in pine tree forests at an elevation of about 5,500 feet (1,700 m), Prescott enjoys a much cooler climate than Phoenix, with average summer highs in the upper 80s Fahrenheit and winter temperatures averaging 50 °F (10 °C).

Yuma is center of the fourth largest metropolitan area in Arizona. It is located near the borders of California and Mexico. It is one of the hottest cities in the United States with the average July high of 107 °F (42 °C). (The same month's average in Death Valley is 115 °F (46 °C).) The city also features sunny days about 90% of the year. The Yuma Metropolitan Statistical Area has a population of 160,000. Yuma also attracts many winter visitors from all over the United States.

Flagstaff is the largest city in northern Arizona, and is situated at an elevation of nearly 7,000 feet (2,100 m). With its large Ponderosa Pine forests, snowy winter weather and picturesque mountains, it is a stark contrast to the desert regions typically associated with Arizona. It sits at the base of the San Francisco Peaks the highest mountain range in the state of Arizona, with Humphreys Peak, the highest point in Arizona at 12,633 feet (3,851 m). Flagstaff has a strong tourism sector, due to its proximity to numerous tourist attractions including: Grand Canyon National Park, Sedona, and Oak Creek Canyon. Historic U.S. Route 66 is the main east-west street in the town. Flagstaff is home to 57,391 residents and the main campus of Northern Arizona University.

Living in Arizona :

The Phoenix and Tucson metropolitan areas are served by public bus transit systems. Yuma and Flagstaff also have public bus systems. Greyhound Lines serves Phoenix, Tucson, Flagstaff, Yuma, and several smaller communities statewide.

A light rail system called Valley Metro Rail has recently been completed in Phoenix; it connects Central Phoenix with the nearby cities of Mesa and Tempe. The system officially opened for service in December 2008.

In May 2006, voters in Tucson approved a Regional Transportation Plan (a comprehensive bus transit/streetcar/roadway improvement program), and its funding via a new half-cent sales tax increment. The centerpiece of the plan is a light rail streetcar system (possibly similar to the Portland Streetcar in Oregon) that will travel through the downtown area, connecting the main University of Arizona campus with the Rio Nuevo master plan area on the western edge of downtown.

Amtrak Southwest Chief route serves Northern AZ, stopping at Winslow, Flagstaff, Williams and Kingman. The Texas Eagle and Sunset Limited routes serve South-Central Arizona, stopping at Tucson, Maricopa, Yuma and Benson. Phoenix's Amtrak service was canceled in 1996, and now an Amtrak bus runs between Phoenix and the station in Maricopa.

Home Just Sold in Arizona :

Sports Teams :

Arizona Cardinals (NFL)
Arizona Diamondbacks (MLB)
Arizona Rattlers (AFL)
Phoenix Coyotes (NHL)
Phoenix Mercury (WNBA)
Phoenix Suns (NBA)

Interesting Fact :

The State of Arizona has a desert geography. It is among one of the most beautiful regions in the world. It also has some of the most beautiful and unique flora and fauna. Arizona, certainly, is a perfect example of the Wild West.

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