News for Prescott AZ - AmericanTowns.com

Friday, December 30, 2005

Lockheed - Martin to Open Service Hub in Prescott Valley


In a unanimous vote on June 30, the Prescott Valley Town Council approved an employment agreement with aerospace giant Lockheed-Martin (L-M) to open a 50,000 square-foot Automated Flight Service Station (AFSS) in the Big Sky Business Park on Valley Road.

L-M Western area Service Manager Bill Lamb said that in February of this year, L-M landed a $1.9 billion federal contract to consolidate 58 AFSS sites nationwide into 20, including three hubs located at Fort Worth, TX, Leesbrug VA., and Prescott.“
This will be the headquarters,” he said. “This program will transition 30-some government employees starting Oct. 4. We also have about another 130 employees that will be transferring to Prescott Valley.”Lamb said their current Prescott Airport location is too small, so L-M is moving to the new Prescott Valley location.
That center is expected to employ about 300 workers.Site plans also include a training center where current L-M employees will learn the AFSS computer systems and then return to their home locations.The town offered L-M a five-year employment incentive of $300 for each job that pays $17.50 or more.
L-M must then provide 200 equivalent jobs annually for the same five years.Mayor Harvey Skoog said he is thrilled to have a world-class operation in the high Tech sector moving to town.“We know what a big plus this is gong to be for our community and we hope our community is going to be a big plus for Lockheed-Martin,” he said.
Prescott Valley Economic Development Foundation Executive Director Gary Marks said the impact of such an agreement is far-reaching.“I hope everybody can share in the excitement.

This is a great day for Prescott Valley," he said. "This is a long term public/Private venture that is going make something very special for Prescott Valley and Yavapai County.”Marks estimated the training center alone would have an impact of more than $1 million annually on the local economy.The document submitted to the council also shows the maximum financial risk to the town is $90,000 annually, or $450,000 over the five-year span of the contract.



By Andrew Draper-For the Lonesome Valley Newsletter
click here for full report....

Is the Arizona market still on the rise?


Phoenix recently took the nod as the nation's hottest housing market, with prices rising 34% year over year for the quarter ending Sept. 30, according to the statistics from the Office of Federal Housing Enterprise Oversight. Next up were two neighboring southwest Florida coastal communities -- Cape Coral-Fort Myers, which saw prices jump 33%, and Naples, with a rise of 32%.

Besides newfound retirement destinations -- like St. George, Utah, Coeur d'Alene, Idaho, and yet another Arizona market, Prescott -- the remainder of the top 20 price-gainers this past year were cities in Florida and California. This growth shows how coastal areas with warm climates continue to see much demand.

The hot markets are still hot," says Philip Hopkins, managing director of U.S. regional services with Global Insight, an economic research firm. "We're seeing some slowing in the rate of price growth, and in some cases price declines outside of the hot housing markets. A soft landing of housing prices is starting to show up outside the hot housing markets. The question is, when does it show up in the hot housing markets?"

Global Insight and financial services concern National City put out a report each quarter on which markets they consider the most overvalued in terms of price. Naples, Fla., recently took the nod as the nation's most overvalued market. However, from the second quarter to the third quarter of this year, the bulk of the overvalued markets remained the same, with only Phoenix, Honolulu, Pensacola, Fla., and Orlando, Fla., being added to the list. Hopkins says this steadiness shows how pricing is holding up in overheated markets.

To read full article go to…
Finding the Next Phoenix
TheStreet.com - USA

Sunday, December 04, 2005

Town Council Approved


Town Council Approves General Plan Amendment for Shopping Center at Viewpoint and Hwy. 89A
By Andrew Draper
For Lonesome Valley Newsletter

The Prescott Valley Town Council approved an amendment to the town's general plan July 14 to allow commercial development on a parcel on the northeast corner of Hwy. 89A and View Point Dr. amid concerns of some residents.Councilwoman Laura Lee Nye said this was a very difficult decision after hearing from residents opposed to the plan."I found this agonizing, because you are speaking from your heart," she said. The amendment clears the way for development partners the Brown Family Trust and Coyote Springs LLC to seek a zoning map change to construct a large shopping center on the 30 acre site.Spokesman for Coyote Springs LLC Gary Emory said the project will be a good fit for the community."It is our intention to create a marketplace that we can all be proud of and the community at large can be happy with," he said. "We've even suggested an architectural style we think is appropriate, one with a ranch flair."Several residents opposed to the project told Council members they fear a large increase in traffic brought about by the shopping center would change the character of their neighborhoods and would only increase the traffic problems. Currently, about one half of the area's 12,000 planned homes exist. Emory said road improvements are already in the works. Emory also said, they previously scaled down the project from the 90 acres available to them to only 30 acres."Both of the roads surrounding this property are already scheduled to be made into four lanes," he said. "Those are requirements that are already in existing development agreements with home builders." Developers said there would be no 'big box' retailers involved in the project, but the plans do include a grocery store and several restaurants."When we first started, we were looking at this entire parcel," he said. "We heard from the community that it was simply too much commercial."Developers have not released the names of the principal tenants as yet, but are expected to do so soon.
More of this Story..

Monday, November 21, 2005

The WRONG Way to Invest in Real Estate


by William Bronchick

"Real estate fever" . . . it's hit the Country like a plague. Zillions of "newbies" are hitting the bandwagon, trying to make a profit where they lost in the stock market. I meet them all the time, and many are making big mistakes!

Mistake #1: Stock Market Mentality

You'd think after losing $7 trillion in the stock market people would have learned! Nope, they are making the same mistake, which is assuming what happened yesterday will happen tommorrow. Nine of ten new investors I meet say they are interested in real estate because they saw someone else make money from the rapid appreciation of the market over the last few years. But, buying real estate solely for short-term appreciation is often a big gamble! If you buy real estate to hold for 15 years or more, the chances are you will come out on top. If you buy a property and flip it in within a year, you probably are fine, too. And, despite the risk, many people can intelligently time the "boom" of a local market (or subdivision within a market) and make a profit. But, if you buy a rental property for full market price with break even or negative cash flow, you'd better have a backup plan if the market doesn't keep going up. Investing is a lot like surfing... if you don't know how to ride the wave, you will drown!
So, should you refrain from investing if you think the market has peaked? Absolutely not! You can find bargain-priced properties in every real estate market, even the hottest. You can find low-interest rate financing that will increase your cash flow so if values drop, you still are covered. You can plan short-term (six to 12 months), because real estate markets rise and fall slowly. And, if you keep a cash reserve for your business, you won't sweat when the market tanks, because you know that in the long run, real estate markets virtually always come back.

Mistake #2: Investing Blind

You'd think after losing $7 trillion in the stock market people would have learned! Nope, they are making the same mistake, which is blindly buying real estate based on bogus advice or complete lack of education. Real estate is one of the few investments in which risk is directly proportional to knowledge. True, it has a higher learning curve than investing in the stock market, but there's no proof that having knowledge of the stock market reduces risk (just ask your mutual fund manager).

I read a comment on a real estate discussion group on the Internet. In response to an inquiry as to whether a particular seminar or training program was worth the money, someone answered, "Why waste your money on that stuff? Just use your money as a down payment and learn as you go." This is probably the worst advice you could ever give a beginner. Money for real estate deals is easy to find if you can find good deals. But, you won't know what a good deal is without having first invested in your education!

The more knowledge of real estate investing techniques, financing, acquisition, negotiating and, of course, your local marketplace, the less risky your investments will be. A bargain real estate purchase will generally always be a safe investment; a bargain stock purchase isn't - after all, who says the company you bought into will be in business next year?.

Mistake #3: No Cash Reserves

Moreof this artical....


William Bronchick has served as President of the Colorado Association of Real Estate Investors since 1996. He is admitted to practice law before the bars of New York and Colorado.
You may contact Mr. Bronchick for consultation by phone, fax, e-mail or correspondence at:
Bronchick & Associates, P.C. 2821 S. Parker Rd. Suite 405Aurora, Colorado 80014 Tel 303-398-7032Fax 303-671-0516 www.legalwiz.com

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Tuesday, November 15, 2005

Buyers gain clout as market slows


Buyers gain clout as housing market slows

Glen CrenoThe Arizona RepublicNov. 11, 2005 12:00 AM

Metropolitan Phoenix's home-selling frenzy is beginning to calm and beleaguered buyers suddenly have more power in the fight for leverage in house deals.The housing market is showing clear signs of slowing after a yearlong buying binge fueled partly by speculators. The latest evidence: The price for a typical Valley house fell last month for the first time in nearly two years.People close to the market say it has a new personality. Sellers aren't necessarily calling the shots and can no longer assume a house will sell quickly after buyers stage a frantic bidding war, pushing sale prices thousands of dollars beyond the list price.

Buyers now are gaining the upper hand, though it's too soon to call it a buyers' market. But it is headed in that direction. With more homes for sale, sellers are cutting prices. Buyers also can take more time to think about a deal rather than snatching up a house just to beat a dozen competitors.
Portions from AZCentral.com Read full Article…..

Saturday, November 05, 2005

$35,000,000 IDA Excise Tax Bonds

AUSTIN, Texas--(BUSINESS WIRE)--Nov. 1, 2005--Fitch assigns an initial 'A-' rating to the $35 million Industrial Development Authority of the County of Yavapai (AZ) convention center facilities excise tax revenue bonds, series 2005 (taxable). The Rating Outlook is Stable. The bonds are scheduled to sell the week of Nov. 7 via negotiation to M. L. Stern & Co.


The bonds are secured by a loan agreement to the borrower, Prescott Valley Events Center LLC, which will construct and operate the facility. Loan repayment resources include net operating income from the facility, as well as transaction privilege (sales) taxes (TPT) from the facility and generated within a designated entertainment district where the facility will be located. Further repayment support includes the TPT from an additional geographic area adjacent to the entertainment district. Bond proceeds will be used to construct a 5,000-seat convention and events center and provide for capitalized interest and a debt service reserve fund.

The 'A-' rating is based primarily on the historical and prospective growth of sales taxes within the Town of Prescott Valley, including the potential for increased dedicated sales tax revenues within the entertainment district; ....More

find out more the Globel Entertainment group at http://www.globalentertainment2000.com/

Community library lo


Community library loses donations in fire
Associated PressNov. 4, 2005 12:00 AM
PRESCOTT - Residents of a small Arizona community will have to start over on a book drive to fill their new community library after flames gutted a home used for storage.About half of the 8,000 books locals had donated for the new Dewey-Humboldt Public Library were destroyed in a fire at the Humboldt home Monday night.
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Good Reasons to List


Good Reasons to List Your House During the Holidays


  1. People who look for a home during the holidays are more serious buyers.

  2. Serious buyers have fewer houses to choose from during the holidays, so you have less competition.

  3. Houses "show better" when decorated for the holidays.

  4. Buyers are more emotional during the holidays.

  5. Buyers have more time to look for a home during the holidays.

  6. Many people want to buy before the end of the year for tax reasons.

  7. January is traditionally the month for transfers. Transferees can't wait until spring to buy. You must be on the market to capture that market.

  8. You may still restrict showings during your personal family events.

  9. You can sell now, but specify a delayed closing or extended occupancy until early next year if you so desire.

  10. By selling now you have an opportunity to buy during the spring, when many houses are on the market.
Bottom line? By listing now, you may have fewer actual showings, but more qualified and motivated buyers.
The Reason. You have less competition, resulting in a quicker sale and a better price for you.

For more information got to www.DowntownPrescottHomes.com

Wednesday, October 05, 2005

Getting ready for the Vacation


Im looking forward to the family vacation. I don't get many so this is a special time for me and the little guys to bond. If you looking for me online don't I will be playing in California. The Beach through the good old Disney Land. I will bring back photos for you that care. Meanwhile the air in prescott is 40's and the night is clear. I would like to share with you a photo that was taken by a friend of mine that I haven't seen since Prescott High Scool days. Mark if you are out there... here is the Picture of the Train Depote. It almost looks the same as it did when you took this in '89.

Friday, September 23, 2005


Just got back from the County Fair last night. It is always interesting who you see. I grew up in the Prescott area and everytime you go to the fair you are sure to see someone that you havent in 20yrs. Well the night was interesting and it was nice to see you folks that I haven't been in touch with. I will be back to spend time with the kids maybe on Sunday. I like the durby!

Thursday, September 22, 2005

Welcome to Prescott


This will be my first atempt at bloging. I hope that you will all bare with me! I am a Prescott Arizona Native and very prode to be a part of the community. I am just finishing up my work and on the way to the County Fair.. It is a Prescott Tradition.
If anyone sees this let me know if you will be out there too!
By the way this is a great photo of the SF Peaks and the dells.

Brad Bergamini, real estate agent on Zillow

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