A Florida-based real estate developer has been ordered by a court to pay $300 million in lost profits after backing out of a major development deal in Arizona. The decision comes after the developer withdrew from the agreement, a move the court found to be a breach of contract, resulting in significant financial losses for…
After a homebuyer in Arizona missed the inspection window specified in their purchase contract, questions arose about whether the seller is still obligated to pay for repairs identified later. Generally, real estate agreements include an inspection period during which buyers can inspect the property and request repairs or negotiate credits for any issues found. If…
A luxurious estate in north Scottsdale has shattered records by selling for a staggering $24.1 million, making it the most expensive residential property ever sold on the Arizona Multiple Listing Service (MLS). The nearly 22,000-square-foot mansion, set on over four acres at the exclusive Silverleaf community, features eight bedrooms, 15 bathrooms, a 12-car garage, and…
Phoenix’s housing market is seeing a shift as more homeowners are pulling their properties from the market after struggling to find buyers. Recent data shows a growing number of listings removed from sale, reflecting a loss of confidence amid rising mortgage rates and declining buyer interest. Many sellers, facing lower-than-expected offers or failed sales, are…
A new report from the Black Chamber of Arizona reveals that Black-owned businesses in the state made a significant contribution to the economy last year, generating $2.2 billion in sales and creating or supporting roughly 13,000 jobs. The analysis highlights the importance of minority entrepreneurship, showing that companies owned by Black entrepreneurs have had a…
Nestled on the border of Utah and Arizona, Lake Powell stands as a striking example of the region’s natural beauty, with its deep blue waters winding between dramatic red rock cliffs. This area has become a scenic destination for boaters, hikers, and outdoor enthusiasts, who are drawn to its unique landscape and recreational opportunities. Housing…
New home sales in the United States posted a notable increase, reflecting growing confidence among buyers despite higher mortgage rates and affordability challenges. The latest figures show that lower inventory in the resale market is pushing more people toward new construction homes, and homebuilders are responding by offering incentives and discounts to attract buyers. Analysts…
Pinnacle West Capital, primarily known as the parent company of Arizona Public Service, has recently seen its stock price experience a notable dip. Despite concerns over regulatory challenges and short-term headwinds, the company’s steady dividend yield and long-term growth potential make it an intriguing opportunity for income-focused investors. The region’s expanding population and ongoing economic…
A recent review of Tempe’s housing market has revealed the city’s most expensive homes currently for sale, with properties on the list featuring luxurious amenities and premier locations. The priciest listing is a lakeside estate on East La Vieve Lane, currently offered for just under $5 million. Other standout properties include a newly built custom…
A new map highlights which U.S. college towns have the highest home prices, revealing that cities with prominent universities often come with costly real estate markets. According to the report, Palo Alto, California—home to Stanford University—boasts a median home price of $3.1 million, topping the list of most expensive college towns. Other pricey locations include…