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| In the first six issues of this newsletter I will be featuring a different Arizona neighborhood each month. I hope you enjoy this feature which will be followed by a deal of the month and real estate market updates. | phone 480-229-8483 e fax 480-624-3755 |
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| Arizona
Neighborhoods for May: Broadmor, Tempe
Broadmor
is a quiet, out of the way
neighborhood within 2 miles of bustling Arizona State University.
Bounded by Broadway Rd. on the
north, Rural Rd. to the east, Alameda Avenue in the south and Mill
Avenue to
the west, the neighborhood includes 633 households including
apartments, condominiums and single family homes.
According to Modern Phoenix Neighborhood Network “These mid-century modern homes are distinguished by their broad, low-sloping roof lines and ample clerestory windows. Detailed and slightly recessed entryways also create relief against the otherwise flat front of the building”. Neighborhood schools include; Broadmor Elementary (A+rated), Mckemy Middle School, and Tempe High School. Some of the neighborhoods many amenities include proximity to Arizona State University and the Tempe–Mill Avenue shops and restaurants, easy access (15 minute drive) to Sky Harbor Airport, and proximity to Tempe Town Lake. The median single family home in the Broadmor area is three bedroom, two and one half bath, and 1800 square feet in size. The average price is between $300,000 and $450,00. |
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Deal
of the Month per MLS Featuring
the Broadmor Neighborhood This three bedroom, 2 bath, 1600 square foot town home in the Broadmor neighborhood is currently listed at $299,000. This great town home in the heart of Tempe is close to everything including Arizona State University, restaurants, shopping, and Mill Avenue. Features include vaulted ceilings, fireplace, good sized backyard with lots of shade, and a large patio area for entertaining. |
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| Real Estate Market Updates • The average time it takes to sell a home is 90 to 120 days. • Home sales have gone up while listings have gone down. • Market sales are up 26% from February. • For the investor, the average rent on a two bedroom, 1 bath apartment has risen to $800/month. • Condominium conversions have slowed. • A number of Subprime lenders that made problematic loans have gone out of business. First time home buyers still have a chance. Falling home prices help affordability and the so-called alternative-A mortgages, a credit band higher than Subprime but lower than prime, is helping. It is still a great time to buy or sell! |
For recent home sales in the Broadmor neighborhood click here |
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| Next Month Next month I will be featuring the neighborhoods of Tempe Town Lake. ![]() |
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