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June Get Your PHX:
The UofA College of Medicine
The goal of Get Your PHX is to show up, en masse, to support those who pioneer new restaurants, stores, bars and event spaces. We want to provide them a boost as they put their sweat, tears and wealth on the line to make life great downtown. Plus, we want to provide a chance for you to meet others like you, who want to get the most out of Phoenix.
Thanks again to Jane Reddin of Practical Art who hosted our May Get Your PHX. We had a great turnout and met some new friends, as well!
So, now for June. Don't let the title fool you, this is not in Tucson. This is the UofA College of Medicine on 7th St and Van Buren.
Admit it, I'm sure you've driven by and said, "Cool building, nicely done. Someday I should have a closer look." But you never did.
Well, now is your chance.
This is a very exciting event for us. The folks at the college are pulling out all the stops. They admitted that they've waited way too long to invite the general public to get a personal glimpse of the inner workings of the college.
It's kinda like how Willy Wonka finally opened up the chocolate factory, but this involves research labs, petri dishes full of God-knows-what and some pretty high tech medical innovations.
 The college, as you probably know, is housed in what was the old Phoenix Union High School, which sat empty for years. The college has done an incredible job of integrating the old and the very, very new, as you will see on the special tour. At a couple points, they constructed a "building within a building" so as not to damage the original structure.
But, wait. There's more. There
will be a special Get Your PHX installation of 26 Blocks,
the writing and photography exhibit that beautifully defines our sense
of space and place in downtown. The installation will be housed in what
was the old school auditorium, with its majestic archways and grand pillars.
This event is generously co-hosted by the College of Medicine and Dan Hlavac, Senior Mortgage Consultant with MetLife Home Loans. So, share this invite and help us get the word out. This is going to be a highlight of the summer!
June Get Your PHXThursday, June 17th from 5:30 to 7:30UofA College of Medicine, Phoenix550 E. Van Buren St. Phoenix, 85004
Map herePlease RSVP to me via email or through Facebook so I can get an accurate count. Parking will be available in the parking lot on the northwest corner of 7th St. and Van Buren, north of the college.
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The Skinny on Condos
A renovated condo.
 | If you've been watching my Facebook posts (and who wouldn't, really?), you've seen that I often post about these incredibly cheap condos that are coming on the market.
There are 1,134 condos, town homes or patio homes in Maricopa County
right now that are at least 2 bedroom, 2 bath and under $100,000!
That's astounding. There are about 171 in Central Phoenix (depending
on your definition of "Central"). About 75 of those are under
$60,000. 34 are under $40,000.
This is a huge number of properties that are really quite affordable
and convenient.
The principle and interest on a $100,000 condo is about $511 per
month. Add private mortgage insurance to that and you are at about $600
per month. If you tailor your search to only those with HOA fees under
$200, then you are getting a two bedroom, two bath place for about $800
per month!
As we are still in a low market, you are in a great position to
recoup those costs when you sell! Sit on it for a couple years and make
it a rental down the road. You have a lot of options with a condo. All
of them are better than giving money to a landlord!
What to watch out for
According to my lender contacts, there are several things that you
need to be aware of, unless you are buying cash:
1)
Lenders require 60% owner occupancy.
2) No
more than 15% of HOA residents can be delinquent in their dues.
3) One
person or company cannot own more than 10% of the units.
4) The
HOA cannot be in litigation.
5) You
need at least 15% down to get private mortgage insurance.
But here is the good news about that. These criteria are a great way
to weed out the wheat from the chaff. Let's do the research and we can
still find condos that meet these requirements. If they do, then they
are more likely to be a good investment or home.
Call me at 602-561-5881 for more information.
Postscript --many new condos in the $140,000 to $190,000
range are also a great deal; especially if they were renovations, such
as Pierre on 6th and Landmark. They are already FHA qualified, but not
selling as quickly as the investors would like and we might be able to
bargain them down.
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In Other Market News...
Several Nibbles of Good News
See this link for a few articles in the news which finally recognize that prices are going up for homes and that we are returning to a more normal market.
Believe Me, Really, No Kidding
There is a dilemma for agents right now. We really are in an era with the lowest rates and prices, but the more we tell people that the less they believe it.
Home Prices Up!
Here's some straight data about home prices. What? Ken is telling us that prices are up? No way! How unusual.
Bring Back the Carry Back
Did you know you can buy a house without a bank involved? The seller can "carry" the loan. It was quite common in the 1980s and here is why I think we should use this to get out of this crisis.
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Restaurant Review: Verde
825 N. 1st St.
Phoenix, 85004
It's been a while, I know. But, not much has opened up recently, and those which have opened have typically been repeats of what is already out there --you know who I'm talkin' about, Two Hippies and America's Taco Shop.
But then Verde came on the scene and, dahling!, everybody has been talking about it.
Verde's ancestral lineage comes from Joe Garcia's La Vida Locavore, which was a food truck that would randomly show up on the streets of Scottsdale late at night to crowds of hungry, inebriated revelers rushing the line like a 1970s Who concert.
I never tried that.
But I was very impressed with the braised green chili pork taco that I tried a couple weeks ago. The melon juice was wonderful, too. It was probably just like what is on offer at Ranch Market, but it was nice to see something other than the usual diet cola chemical brew at a downtown lunch joint.
Verde prides itself on organic, locally grown and locally produced ingredients. I can't confirm the truth of all of that, but there is something special about watching people make tortillas right in front of you, as they do in Verde's store front window.
Much like well prepared pizza crust, if the tortilla is done right, you could put Mike and Ike's Tamale candies on the tortilla and it would still be wonderful.
The Good: The food and light, clean atmosphere.
The Bad: It's not really bad, but I would love to see this place open late night on the weekends for some late night grub.
The Ugly: Parking, but that's the city's fault.
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CenPho Community
Sunnyslope's Artwalk Benefit Concert
Join in on June 13th for a benefit concert at the Rhythm Room in support of the Sunnyslope Artwalk. The Rhythm Room is at 1019 E Indian School Rd. Doors
open at 6 p.m. for the $5 show. Performances by Full Moon Jazz,
Hacksaw's Blues and others will begin at 7 p.m.
The History of Historic
There are a few people who deserve praise and remembrance for giving us the historic neighborhoods that we have now. This is the most comprehensive story I've seen so far on the early days of historic preservation in Phoenix.
My Kingdom for a Shade Tree
I'm going to do a longer story on the issue of shade trees soon. We should learn from Tucson in how we plan desert shade trees, parking lots and pedestrian areas. Click on the title above to download a PDF of the city's Tree and Shade Plan. They are definitely going in the right direction here.
Light Rail Extensions
The good guys at Rail Life are always updating me on future plans for light rail expansion. Here is a good update on possible plans for Tempe extensions, ie, buses to get people to light rail, not more actual rail line.
Look for more recent posts on www.GetYourPHX.com.
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A Note From the Author
I want to take this opportunity to thank all of you who have been so kind as to send me referrals over the last years for your friends who are buying or selling a home.
Like many of you who are also in business for yourself, I don't have a huge marketing budget. You won't see my face airbrushed, five feet tall on a freeway billboard.
So, I appreciate your referrals even more. If you are at one of many summer barbecues this year and you hear somebody opining over their all-beef patty that they need to buy or sell a house, please think of me and encourage them to look me up.
I specialize in Central Phoenix, but I work all over the valley.
Thank you. As you were.
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Final Words, Compliance and Other Legal Stuff
As always, I respect your right not to be bothered with annoying spam email. If you would like to be removed from my email list, just let me know. Thanks!
Sincerely,
Ken Clark
  
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Organizations Worth Supporting
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