History of Medlock Place Historical District

History of Medlock Place Historical District

A historic neighborhood in Phoenix' North Central Corridor, Medlock Place is the Valley of the Sun's original suburban residential development. First opened to the public in 1926, Medlock Place was then 4 miles north of the edge of town. Today, many of the Medlock Place Historic District single family homes still reflect what Floyd Medlock, the area's first developer, billed as living amidst "city conveniences with country delights."

A couple of years before Floyd W. Medlock was born...

"J. M. Evans platted the Evan's Addition to Orangewood in 1897. Directly south of the Orangewood Subdivision, Bethany Home Road bounded the north side of Evan's Addition, Camelback Road to the south, and 7th Street and 7th Avenue to the east and west, respectively. These twenty-acre lots were divided evenly over four blocks; each block contained twenty lots. Following conventions of the day, developers like Evans invested their time and money in subdividing the lots and providing basic services to the area (graded roads and minimal utilities) and individual buyers contracted architects and builders to construct their homes. While demand for land was high, construction generally lagged behind lot development."

Information courtesy of The Medlock Place Neighborhood Association.

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Up-and-Coming Phoenix, Glendale, Scottsdale and Mesa Historical Districts

Up-and-Coming Phoenix Historical Districts
Affordable newer districts offer own charms of yesteryear

by Sue Doerfler
The Arizona Republic ~Sept. 23, 2006

Pierson Place Historic District
Location: Bounded by Central and Seventh avenues, Camelback Road and the Grand Canal, Phoenix.

Homes: Built during the 1920's through 1950's. Include period revival-style, with some constructed of adobe; modest ranch; and small multifamily.

Why: "Anything along light rail and close to downtown will be big," Stocklin said.

Pierson Place fits both. Four miles from downtown, it has light rail along two sides.

In fact, light rail has helped already by raising awareness of the neighborhood, Graham said.

"What's nice about that area is the lots are irrigated," said Realtor Betty Rimsza, of Rimsza Realty, Phoenix, who has listed a home for sale in Pierson Place. Homes in the neighborhood are still relatively affordable. Rimsza's client's home is listed for $225,000.

Another plus: Many of the homes are fix-ups, fueling America's penchant for remodeling and reselling the homes at a profit, according to Richard Larsen, Realtor with Re/Max Achievers.

Fraser Fields
Location: Roughly bounded by Main Street, University Drive, Horne and Fraser Drive, Mesa.

Homes: Construction started in the late 1940s. Ranch homes on large lots.

Why: Well-preserved example of custom ranch-style homes. Homes were built with craftsmanship and quality in mind. This historic district, designated in 2003, is reflective of the national trend of middle- and upper-class people moving away from city centers.

Garfield Historic District
Location: Roughly bounded by Seventh, 16th, Van Buren and Roosevelt streets, Phoenix.

Homes: Constructed from the 1890s through 1931. Include bungalows, Craftsman, period revivals and other types of architecture.

Why: Renovation, affordability and strong neighborhood organization, said Bob Graham. He specializes in historic preservation planning and design.

The district, established in 1989 and expanded since then, is changing: Homes are being built on empty lots, old homes are being rehabilitated, and there is interest from investors, said Phoenix historic preservation officer Barbara Stocklin. Its affordability - you can find homes for sale for $200,000 - and proximity to downtown Phoenix are strong points.

Floralcroft
Location: Bounded by 59th to 61st avenues, from State to Myrtle avenues, Glendale.

Homes: Built from the 1920's through 1950's. Mostly ranch-style, and some bungalow and Spanish Colonial Revival.

Why: Proximity to Glendale's Historic downtown, antiques district and already established Catlin Court District, said Ron Short, Glendale's deputy director of long-range planning.

Floralcroft, which is west of Catlin Court, was subdivided in 1928, but most homes were built in the 1940s and 1950s. The area previously wasn't considered historic because of its housing diversity, said architect Bob Graham.

Glendale Tract
Location: Southeastern corner of 51st and Northern Avenues, Glendale.

Homes: Built in 1933. Adobe with metal roofs.

Why: Although an indigenous building method, adobe homes are uncommon in the Valley.

These historic district homes, designed for displaced farmers, were subsidized by the federal government under President Franklin D. Roosevelt's New Deal program, Short said.

The homes, which had only 650 square feet, were built on large lots so farmers, hit hard during the Depression, could ease into normal life. Homes were sold to the general public beginning in 1948.

Haver Homes
Location: Haver and Haver-inspired homes throughout the Valley, including two Phoenix neighborhoods, not yet designated historic. One is roughly bounded by 37th and 40th streets, Palm Lane and Monte Vista Road; and the other, the Canal North residential area, 12th Street south of Highland Avenue. Also, one Scottsdale neighborhood, the Town and Country Historic District, bounded by Oak Street, Monte Vista Road, 74th Street and 72nd Place.

Homes: Built during the 1940's and '50s. Masonry ranch homes.

Why: Architectural cachet and growing interest in midcentury modern styling. Scottsdale has designated a district. Phoenix hasn't but is in the second year of a three-year study of postwar housing.

These one-story homes were designed by prominent Phoenix architect Ralph Haver. Characteristic styling includes clean lines, rectangular forms, exposed masonry walls and carports.

"What Ralph Haver did was take (ranch-house styling) to the next level," said Alison King, whose www.modern phoenix.net Web site is devoted to modern-style homes. She lives in a Phoenix Haver house.
Other '50s neighborhoods
Location: Throughout the Valley.

Homes: Ranch homes.

Why: "This is really 'the' period in Phoenix," said Debbie Abele, a Scottsdale historic preservation officer. "We pioneered practices here that made the ranch-house show up in Trenton, New Jersey. We were doing some of the best stuff in the nation."

One builder who merits a look is John Hall, whose company was Hallcraft Homes. In the '50's, the company built ranch-style houses in many Valley locales.

"He was ahead of his time," Abele said. Scottsdale is looking into designating a Hallcraft historic district, she added.

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Historic Homes Bargains In Phoenix, Scottsdale, Glendale and Tempe Historic Disrticts

Historical Homes Bargains
'Newer' neighborhoods can be attractive alternative to pricey venerable districts

by Sue Doerfler ~ The Arizona Republic ~ Sept. 23, 2006

Want to live in a historic neighborhood but can't afford the half-million or more that homes cost in hot districts such as Phoenix's Willo Historic District and Roosevelt Historic District?

Think up-and-coming historic districts instead.

Bigger districts, such as Willo and Roosevelt, and other Phoenix neighborhoods such as Encanto Palmcroft and F.Q. Story are well-known, said Barbara Stocklin, Phoenix historic preservation officer.

They have the goods that make Phoenix historic districts hot: charm, characteristic housing, mature landscaping, neighborhood feel and community awareness.

They also have a strong sense of place, said Ron Short, Glendale's deputy director of long-range planning.

Jay Butler, director of the Arizona Real Estate Center at Arizona State University Polytechnic in Mesa, calls it an appealing small-town feel that most newer subdivisions don't have. Historic districts also have strong associations that fight to retain neighborhood flavor.

But hot districts also have rising prices, even with the stabilizing real estate market. In Willo and Roosevelt, the median resale price for their ZIP code, 85003, jumped to $355,000 in 2005 from $175,000 in 2000, and it's common to find homes for sale that are priced $500,000 and up in each district.

But "there are a lot of little gem historic districts in and around there," Stocklin said. These smaller districts can be just as charming, but some of their period-style homes, whether built in the 1920's or 1950's, need tender loving care.

The districts may or may not have cohesive neighborhood organizations, but prices are reasonable: In some districts, you can find homes for around $200,000.

What are the up-and-coming historic districts? Valley historic preservation officials, housing and urban analysts, Realtors and others offer these possibilities:

Pierson Place
Location: Bounded by Central and Seventh avenues, Camelback Road and the Grand Canal, Phoenix.

Homes: Built during the 1920's through 1950's. Include period revival-style, with some constructed of adobe; modest ranch; and small multifamily.

Why: "Anything along light rail and close to downtown will be big," Stocklin said.

Pierson Place fits both. Four miles from downtown, it has light rail along two sides.

In fact, light rail has helped already by raising awareness of the neighborhood, Graham said.

"What's nice about that area is the lots are irrigated," said Realtor Betty Rimsza, of Rimsza Realty, Phoenix, who has listed a home for sale in Pierson Place. Homes in the neighborhood are still relatively affordable. Rimsza's client's home is listed for $225,000.

Another plus: Many of the homes are fix-ups, fueling America's penchant for remodeling and reselling the homes at a profit, according to Richard Larsen, Realtor with Re/Max Achievers.

Fraser Fields
Location: Roughly bounded by Main Street, University Drive, Horne and Fraser Drive, Mesa.

Homes: Construction started in the late 1940s. Ranch homes on large lots.

Why: Well-preserved example of custom ranch-style homes. Homes were built with craftsmanship and quality in mind. This historic district, designated in 2003, is reflective of the national trend of middle- and upper-class people moving away from city centers.

Garfield
Location: Roughly bounded by Seventh, 16th, Van Buren and Roosevelt streets, Phoenix.

Homes: Constructed from the 1890's through 1931. Include bungalows, Craftsman, period revivals and other types of architecture.

Why: Renovation, affordability and strong neighborhood organization, said Bob Graham. He specializes in historic preservation planning and design.

The district, established in 1989 and expanded since then, is changing: Homes are being built on empty lots, old homes are being rehabilitated, and there is interest from investors, said Phoenix historic preservation officer Barbara Stocklin. Its affordability - you can find homes for sale for $200,000 - and proximity to downtown Phoenix are strong points.

Floralcroft
Location: Bounded by 59th to 61st avenues, from State to Myrtle avenues, Glendale.

Homes: Built from the 1920s through 1950's. Mostly ranch-style, and some bungalow and Spanish Colonial Revival.

Why: Proximity to Glendale's downtown, antiques district and already established Catlin Court District, said Ron Short, Glendale's deputy director of long-range planning.

Floralcroft, which is west of Catlin Court, was subdivided in 1928, but most homes were built in the 1940's and 1950's. The area previously wasn't considered historic because of its housing diversity, said architect Bob Graham.

Glendale Tract
Location: Southeastern corner of 51st and Northern Avenues, Glendale.

Homes: Built in 1933. Adobe with metal roofs.

Why: Although an indigenous building method, adobe homes are uncommon in the Valley.

These historic district homes, designed for displaced farmers, were subsidized by the federal government under President Franklin D. Roosevelt's New Deal program, Short said.

The homes, which had only 650 square feet, were built on large lots so farmers, hit hard during the Depression, could ease into normal life. Homes were sold to the general public beginning in 1948.

Haver Homes
Location: Haver and Haver-inspired homes throughout the Valley, including two Phoenix neighborhoods, not yet designated historic. One is roughly bounded by 37th and 40th streets, Palm Lane and Monte Vista Road; and the other, the Canal North residential area, 12th Street south of Highland Avenue. Also, one Scottsdale neighborhood, the Town and Country Historic District, bounded by Oak Street, Monte Vista Road, 74th Street and 72nd Place.

Homes: Built during the 1940's and '50's. Masonry ranch homes.

Why: Architectural cachet and growing interest in mid-century modern styling. Scottsdale has designated a district. Phoenix hasn't but is in the second year of a three-year study of postwar housing.

These one-story homes were designed by prominent Phoenix architect Ralph Haver. Characteristic styling includes clean lines, rectangular forms, exposed masonry walls and carports.

"What Ralph Haver did was take (ranch-house styling) to the next level," said Alison King, who is devoted to modern-style homes. She lives in a Phoenix Haver house.

Other '50s neighborhoods
Location: Throughout the Valley.

Homes: Ranch homes.

Why: "This is really 'the' period in Phoenix," said Debbie Abele, a Scottsdale historic preservation officer. "We pioneered practices here that made the ranch-house show up in Trenton, New Jersey. We were doing some of the best stuff in the nation."

One builder who merits a look is John Hall, whose company was Hallcraft Homes. In the '50's, the company built ranch-style houses in many Valley locales.

"He was ahead of his time," Abele said. Scottsdale is looking into designating a Hallcraft historic district, she added.

To search thousands of homes any Phoenix historic district, Glendale historic district, Scottsdale historic district or Tempe historic district go to HistoricCentralPhoenix.com and/or call Laura Boyajian, aka, Laura B. today.

Adjustable-Rate Mortgages (ARMS)

Adjustable-Rate Mortgages (ARMS)

Adjustable-rate mortgages, or ARMS, differ from fixed-rate mortgages in that the interest rate and monthly payment move up and down as market interest rates fluctuate.

Most have an initial fixed-rate period during which the borrower's rate doesn't change, followed by a much longer period during which the rate changes at preset intervals.

Adjustable Rates Start Low
Rates charged during the initial periods are generally lower than those on comparable fixed-rate mortgages. After all, lenders have to offer something to make it worth their while to assume the risk of higher rates in the future.

The initial fixed-rate period can be as short as a month or as long as 10 years. One-year ARMS, which have their first adjustment after one year, used to be the most popular adjustable, and were the benchmark. Recently the standard has become the 5/1 ARM, which has an initial fixed-rate period that lasts five years; the rate is adjusted annually thereafter. That type of mortgage, which mixes a lengthy fixed period with an even lengthier adjustable period, is known as a hybrid. Other popular hybrid ARMS are the 3/1, the 7/1 and the 10/1.

These hybrid ARMS -- sometimes referred to as 3/1, 5/1, 7/1 or 10/1 loans -- have fixed rates for the first three, five, seven or 10 years, followed by rates that adjust annually thereafter.

After the fixed-rate honeymoon, an ARMS rate fluctuates at the same rate as an index spelled out in closing documents. The lender finds out what the index value is, adds a margin to that figure and recalculates the borrower's new rate and payment. The process repeats each time an adjustment date rolls around.

Most ARM rates are tied to the performance of one of three major indexes:

1. Weekly constant maturity yield on the one-year Treasury Bill.
The yield debt securities issued by the U.S. Treasury are paying, as tracked by the Federal Reserve Board.

2. 11th District Cost of Funds Index (COFI)
The interest financial institutions in the western U.S. are paying on deposits they hold.

3. London Interbank Offered Rate (LIBOR)
The rate most international banks are charging each other on large loans.

Sky's Not the Limit
Borrowers have some protection from extreme changes because ARMS come with caps. These caps limit the amount by which ARM rates and payments can adjust.

Caps come in a few of different forms. The most common are:

1. Periodic rate cap: Limits how much the rate can change at any one time. These are usually annual caps, or caps that prevent the rate from rising more than a certain number of percentage points in any given year.

2. Lifetime cap: Limits how much the interest rate can rise over the life of the loan.

3. Payment cap: Offered on some ARMS. It limits the amount the monthly payment can rise over the life of the loan in dollars, rather than how much the rate can change in percentage points.

Interest-only ARMS
Around the turn of the 21st century, lenders began to market interest-only mortgages to middle-class borrowers. Formerly the preserve of what lenders called "affluent clients," interest-only mortgages are usually adjustables. The borrower is required to pay only the interest for a specified period, often 10 years. After that, it adjusts to the going interest rate, as tracked by a specified index. After that, the loan amortizes at an accelerated rate. During the interest-only period, the borrower can choose to pay some principal, too. By providing flexibility in the size of monthly payments, interest-only mortgages often are a good match for people with fluctuating monthly incomes: salespeople who are paid by commission, for example.

Variety of Flavors
Some ARMS come with a conversion feature that allows borrowers to convert their loans to fixed-rate mortgages for a fee. Others allow borrowers to make interest-only payments for a portion of their loan terms to keep their payments low. But no matter the exact terms, most ARMS are more difficult to understand than fixed-rate loans.

To keep your financial options open, make sure to ask the mortgage lender if the ARM is convertible to a fixed-rate mortgage. Also, ask if the ARM is assumable, which means when you sell your home the buyer may qualify to assume your existing mortgage. That could be desirable if mortgage interest rates are high.

If you would like help or more information on which loan is best for you, call Laura Boyajian, aka, Laura B. today. If you are looking for a Phoenix Historic Home or a Phoenix-Metro Home, go to HistoricCentralPhoenix's Website.

How Mortgages Work: Introduction to 30-Year Loans vs. 15-Year Loans

How Mortgages Work: Introduction to 30-Year Loans vs. 15-Year Loans

There are as many types of mortgages to choose from as there are types of houses to buy. Here you'll learn the pros and cons of a 30-year fixed mortgage and a 15-year fixed mortgage.

Lenders offer several types of mortgages, but the most common are fixed-rate mortgages. These loans feature fixed rates and monthly payments, generally for 15-year and 30-year periods. They're popular because consumers balk at the thought of their house payment rising and falling with interest rates and whenever rates are low, fixed-rate mortgages are very affordable.

Fixed-rate loan borrowers face one major choice: 15 year or 30 year? For some, a 30-year loan makes more sense. For others, a 15-year one does. Here are some pros and cons of each.

30-Year Fixed Rate Advantages

a. Offers the chance to borrow money on a long-term basis without having to worry about the interest rates or payments changing.
b. Monthly payments are lower than those on 15-year loans because the interest is amortized over a longer period.
c. Lower monthly payments free up money that borrowers can pour into investments that yield more than their homes.Higher interest bill increases the amount consumers can deduct at tax time, potentially reducing or eliminating their federal income tax liabilities.

30-Year Fixed Rate Disadvantages

a. Borrowers build equity at a very slow pace because payments during the first several years go largely toward interest rather than principal.
b. The overall interest bill is much higher because of the long amortization term.
c. The interest rates are higher than on 15-year loans.

15-Year Fixed Rate Advantages

a. Borrowers build equity much more quickly due to shorter amortization schedules.
b. Overall interest bills are dramatically lower than those on longer-term loans.
c. The interest rates are lower than 30-year loans.

15-Year Fixed Rate Disadvantages

a. Monthly payments can be significantly higher than those on 30-year loans.
b. Restricts home buyers to smaller house than they might be able to afford with longer-term loans.

If you need help qualifying for a loan for a Phoenix historic home or Phoenix Metro home purchase, call Laura Boyajian, aka Laura B. today.

Historic Phoenix Home Shopping - Buying and Selling Historical Homes In Phoenix

Historic Phoenix Home Shopping
Be Aware & Smart
By Laura Boyajian

Historic home shopping in Phoenix can be as artsy as the historical home itself. It takes a certain person to buy a historic Phoenix home. It also takes a certain type of Real Estate Agent to help such people in their historical home search.

One of the hottest trends in real estate has become the restoration of historic homes. The Phoenix Historic Districts, with its rich history, has a wonderfully textured architectural past. Downtown Historic Phoenix, Central Avenue and the Central Corridor, are host to historical homes that demonstrate the great and ever-changing architectural trends of the past.

There are many important factors to consider before and during the historic home buying process compared to buying a newer home or a new build. Read my article on "How to Buy a Historic Home."

The advantages of buying a home in a designated Historic Phoenix district are numerous such as value stability, resale values, tax breaks and grants. Still, there’s much to learn about buying and owning a historic property BEFORE buying one.

If you're in the market to buy a Phoenix historic home and are ready to do your free MLS Historic Phoenix search, here are 4 very important factors to consider when choosing your Historic Homes Real Estate Agent. Don't forget to check out our Buyer's Services and Seller's Services sections, too.

1. Do they have the right Home Inspector for historical structures? How about a Structural Engineer who specializes in historic buildings?

2. Do they have an appraiser that specializes in historic homes? (This is more important than you may realize).

3. Do they have the resources and the will to assist you before, during AND after your purchase in anything from remodeling to restoring a historical home?

And probably one of the most important things to consider when choosing a Phoenix Historic District Homes Agent to represent you in a historical home purchase:

4. What is THEIR personal experience and knowledge in historical homeownership?

I offer services for free on this site without any obligation. Why? Because I want to be YOUR trusted, professional Real Estate partner. Not all Agents are the same, and no website can show that. That's why I encourage you to call me or email me today so I can SHOW you how I'm different.

Whether you’re buying, selling or investing in Historical Phoenix or Phoenix Metro area homes, if you're looking for an honest, hard-working agent who will have YOUR best interest in representation at heart, call me, Laura B. today at 602.400.0008. You WILL NOT be disappointed.

How To Buy a Historic Home

How To Buy a Historic Home
by Laura Boyajian

The Who's, the What's, the Where's, the How's & the Why's of Buying a Phoenix Historic Home

One of the hottest trends in real estate has become the restoration of historic homes. The Phoenix Historic Districts, with its rich history, has a wonderfully textured architectural past. Phoenix is host to historic homes that demonstrate the great and ever-changing architectural trends of the past. If you are in the market to buy a historic home, here are some things to know and to consider.

1. What is a Historic Home? A historic home has some significant historic relevance as reflected in its architecture. The National Registry of Historic Homes has an extensive list of homes that are “historic,” but each state, town, or city has designated their own historic districts and landmarks. Phoenix, AZ has 36 historic districts alone, and more coming!

2. Why Buy? Historic homes appeal to people for a variety of reasons. Many homeowners like the idea of a historic home because it had significant relevance in the past, while others may just like “the look” of architecture from years past. A large contingency of buyers, while certainly admiring the property’s aesthetic qualities, will buy a historic home because of the benefits that come with restoring it. There may also be tax benefits for those who qualify based on their individual restoration project

3. Where to Buy? There are historic homes in just about every city in Phoenix. This website provides you with links to historic Phoenix homes, historic Glendale homes, and Historic Tempe homes. Click on the city of your choice for more information on each historic district and to search homes in that particular district.

4. Do research on the home. Once you are comfortable with any laws and regulations regarding purchasing a historic home, you should decide on a house. Do research on your home. I will help you. See my “resources” link to many historic homes resources available.

5. Making an Offer. The offer should be contingent on your ability to obtain financing, and most importantly, contingent on a satisfactory inspection. These homes are very old, so the inspection is an important element of the buying process. You may find that your offer price goes down significantly after discovering defects in the building.

6. Inspection. Get a great inspector. There are inspectors who specialize in historic homes These people might be more costly than a regular inspector, but they are trained to evaluate properties such as the one you are interested in. I will help you find the right inspector who will look at important items such as:

a. The Roof. The roof is a huge inspection item. A failing roof will cause leaks and will incur much money for repairs in the future. Find out what the condition the roof is in and factor its possible decay/problems into your decision.

b. The Heating/Cooling System. The heating & cooling system in the building will likely be old if the previous owner has not installed a new one. Just because a system is old, however, does not mean it is bad. Have your inspector evaluate the method of heating & cooling, and suggest ways to maintain/improve on it.

c. The Structure. Have an inspector, or better yet, an engineer, evaluate the structure of the building. If there is a big problem with the foundation or the building itself, you will want to know. Structural problems can cost a significant amount of money to repair.

d. The Electrical. Have a licensed electrician evaluate all the electrical inside and outside the home. Is the wiring is up to code? Is the panel original or has it been upgraded? Are the outlets grounded with GFI plugs?

Such concerns don't necessarily mean you must give up your dream of buying a piece of the past. From your Real Estate Agent to your Home Inspector, you do need to bring in the knowledge of professionals into your purchase in order to detect any possible hazards or costly repairs that may be looming that are often common in older homes.

7. Finalize Offer/Purchase and Sales. Take the information you received from your inspector and decide if you need to adjust your offer based on costs of repairs from items missed at your initial introduction to the property. Once you agree on the price and specifications of the deal, have your Real Estate Agent draft the Purchase and Sales Agreement.

As your Real Estate Agent, I guarantee that I will not leave ONE stone unturned and will be guiding & helping you through the entire process. My team and I are dedicated to a smooth, timely transaction helping you close escrow on the home of your dreams!

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Study: Phoenix Top Relocation Destination

Study: Phoenix Top Relocation Destination
Sept. 3, 2006

Phoenix has been ranked No. 1 in a new study of best relocation destinations.

The Retirement Solutions Foundation, a group run by personal-finance author Jane White, looked at several factors in devising the list such as local economic strength, employment, housing affordability and attractions that make a city enjoyable.

"Affordable real estate attracts workers, especially from obscenely overpriced California," the study says of Phoenix. "The region also has an unusually large number of organizations devoted to helping small business."

Also, the report noted high rankings for the Valley from Inc. and Entrepreneur magazines and the Milken Institute.

The survey ranked Orlando second, followed by the Camden, N.J., area; West Palm Beach/Boca Raton in Florida; Madison, Wis.; and Fort Myers/Cape Coral, Fla. - Russ Wiles

If you are considering a relocation to Phoenix, AZ, go to: http://www.arizonarelocationspecialists.com/

Arizona Job Gains Likely to Continue

Arizona Job Gains Likely to Continue

By Chad Graham
The Arizona Republic ~Sept. 2, 2006

Arizona will continue to add jobs at a healthy clip through 2007 but not at the gangbuster levels seen in 2005.

Economists generally agree on that point.

What they disagree on is how much the rate of job growth will slow during the next year and a half. There are simply too many unknowns about the leaky housing bubble, shaky consumer confidence and fluctuating fuel prices.

If the job-expansion rate slows too much, it could trigger layoffs, hiring freezes and stalled wages, which have been on the rise. Workers in housing-related industries, such as construction or mortgage lending, would be hit particularly hard.

Arizona economists maintain that the slowdown will be mild, down to 4.9 percent in 2006 and 4 percent in 2007, according to a recent forecast released by the Department of Economic Security.

Analysts at Moody's Economy.com expect the job-growth rate to slow to 4.5 percent in 2006 and drop to 2.5 percent in 2007.

While that is below the 5.3 percent job growth rate Arizona reached in 2005, it is above predictions for job growth at the national level, said Austin Litvak, assistant economist with the company.

The drop-off will be almost entirely because of the housing market slowdown, he added.

Litvak said that industries such as manufacturing and leisure/hospitality will continue to grow and "the expansions at Arizona State University will also help drive public sector growth."

Nationally, employment is expected to expand 1.4 percent this year and 1.1 percent in 2007, according to Global Insight, a suburban Boston company that tracks economic trends.

Economy Chugging Along

A group of reports released Friday showed effects from a continued slowdown in the housing market, but they also offered a sense that the national economy is chugging along.

As in Arizona, it's just happening at a slower rate.

The Tempe-based Institute for Supply Management said that August manufacturing activity slowed slightly to 54.5 compared with 54.7 in July. A reading of 50 or above shows expansion.

"The major concerns in manufacturing at this point are the continued upward pricing pressure that has existed for the past 13 months, and some industries are experiencing a degree of inventory buildup," Norbert Ore, chairman of the institute, said in a statement.

The number of U.S. jobs increased in August by 128,000, which was "roughly in line with the average monthly gain for the four-month period from April to July," the U.S. Labor Department said.

News out of the construction industry wasn't so comforting.

Spending in that industry for July fell 1.2 percent after a 0.4 percent rise in June, according to the U.S. Commerce Department.

Economists surveyed by Bloomberg News expected the drop to be 0.1 percent.

In Arizona

The DES forecast released this week showed that out of Arizona's 11 major industry groups, 10 should grow jobs this year and next.

The information sector, which includes publishing, will shed a little more than 1,000 positions for a total of 44,000 workers in 2007 as the "result of continuing consolidation, outsourcing and automation," according to the report.

Other findings include:

• The natural resources and mining sector is set to experience the fastest percentage growth as "industrial output across the globe, including East Asia, North America and Europe, has increased the demand for many mined non-metallic and metallic ores including copper," the report said. Still, it is a small sector, which will employ 11,500 Arizonans by 2007.

• The professional and business services industry is expected to employ 427,300 workers throughout Arizona by 2007, up from 369,000 in 2005.

• The number of workers in the trade, transportation and utilities sector in Arizona will grow to 526,100 in 2007, up from 486,700 last year.

The Arizona Business Conditions Index rose to 60.5 in August from 54.4 in July. A reading above 50 indicates growth.

"Until August, the index had been approaching the critical 50-point mark, below which a recession would be indicated," Dawn McLaren, economist with the Bank One Economic Outlook Center at Arizona State University, said in a statement.

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Tudors: Going Medieval In Style

Tudors: Going Medieval In Style
Based on old English themes, Tudor homes still attract fans in the modern world.

By Les Christie, CNNMoney.com staff writer
July 25, 2006

NEW YORK (CNNMoney.com) -- For anyone who wants to go all medieval but finds castles too drafty or dear, the next best thing may be a Tudor-style home.

Tudor homes are based on the architecture of England at the end of medieval times. The style evolved during the late 15th century and lasted until shortly after the turn of the 17th century.

The Tudors were the ruling dynasty at the time and members of the family included some of the most famous monarchs in English history. Henry the Eighth and Elizabeth the First were both Tudors, as was Mary the First - also known as Bloody Mary.

Half-timbered, stucco walls, turrets and steeply pitched roofs with cross gables are characteristics of the style. Windows tend to be very tall and panes very small; they're often leaded in a diamond pattern. Arched entryways and substantial chimneys topped by terra cotta pots are also common Tudor themes.

The half-timbering of Tudors is imitative rather than structural. In genuine old English half-timbered buildings the timbers were part of the post and beam framing - they held the house up. The spaces between the beams were then filled in with plaster and lathe and the faces of the beams left exposed.

In modern Tudors, the half timbering in merely embedded for decorative effect - recreating the post-and-beam look - and surrounded by stucco or brick walls.

New World Embrace

The Tudor revival began in the United States around 1890 and had mostly played out by 1930.

Originally, the wealthy embraced the style for their country or suburban estates. Soon, though, the style's popularity filtered down to more modest-income Americans. By the 1920s, some entire neighborhoods, such as Forest Hills in New York City, were dominated by Tudor homes.

Tudor houses come in several flavors. One subset, Jacobean, often incorporates columns and pilasters and flat, parapetted roofs.

Another, Tudorbethan, shows lots of half-timbering set off by pale-colored stucco or herringbone brick walls.

The complexity of the designs and details of Tudor homes make them relatively expensive to build. There are many angles and nooks and usually several different roofs. These are often very steep and time consuming to shingle. There are also dormers, gables of different heights, brick or stone work, stucco walls and wood trim, all of which are difficult to build.

Most Tudors exhibit good craftsmanship, as well as distinctive touches, such as stained glass, carved interior woodworking and wainscoting. Craftsman-style house designers drew some of their inspiration from Tudor techniques and features.

The style has retained much of its popularity, although, because of the expense, fewer are built today. But the ones that come on the market often command a price premium above their sometimes blander neighbors.

An attractive Tudor design conveys substance, gravity and security. The style has a solid feel to it and the arches, built-ins and fireplaces Tudors usually feature give the houses warmth. The medieval look feels like a bulwark against a dangerous world. You feel safe inside its thick walls.

To see Tudor Homes in the Phoenix, AZ Metro area and in Phoenix Historic Districts, call Laura Boyajian, aka, Laura B. today at: 602.400.0008 and/or search Historic Phoenix Districts at her historic central Phoenix website.

Willo ~ Phoenix, Arizona

Willo ~ Phoenix, Arizona

A Newly Hot, Old Neighborhood is Bringing People Back to the Desert.

By David Hanson

Amid the sameness of suburban Arizona, what a treat to find Willo, a downtown neighborhood of historic cottages. Crisply manicured lawns and small, doted-on houses of all types characterize this charming community. Like many old neighborhoods in growing cities, Willo has faced tear-down pressures, but locals have been savvy about bringing the area back from urban decay.

The comeback has corresponded with revitalization efforts by the city. "Phoenix is more of a sprawl town," says Eric Vondy with the Arizona State Historic Preservation Office. "But over the last 20 years or so, there has been a concerted effort to artificially create a sort of New Urbanist downtown." The result: Willo is hot, and real estate prices have caught fire.

Willo Community Profile

Location: 2 miles from downtown Phoenix
Map it: Willo neighborhood

Number of homes: 1,000

What $300,000 will buy you: Tack on another $100K and you’re in the market for a modernized two-bedroom, one-bath, 1,200-square-foot home.

Closest latte: Willow House Coffee Shop, on the south end of Willo

The Way They Live

Homes: Willo, a street grid half a mile wide by a mile long, comprises 22 subdivisions built between 1900 and the start of World War II. Willo is the antithesis of cookie-cutter, thanks to an architectural range including Spanish Rancho, Tudor Revival, Greek Revival, Pueblo Revival, Colonial Revival, and ranches.

People: Homes and proximity aren’t the only reasons Willo is popular. The friendly atmosphere is a big draw. The neighborhood association has no shortage of volunteers. The group hosts such get-togethers as the home tour, a big garage sale, and an annual outdoor breakfast prepared by members of the police and fire departments.

Shops and Hangouts: At the south end of Willo are antiques stores and other shops and eateries, including the classy My Florist Café (a converted flower shop) and the adjacent Willo Baking Company.

Greenspace: Folks meet at Walden Park for neighborhood gatherings. The 222-acre Encanto Park (one of Phoenix’s biggest) boasts a pool, tennis courts, and two golf courses. In the center is an amusement park for 2- to 10-year-olds, including a carousel, train, and pond with pedal boats.

Cottage Twist: San Francisco has the Transamerica Pyramid; Chicago, the Sears Tower. Phoenix? The Dial Building, former headquarters of the soap company. From Willo you can see it—now the Viad Building—rising in the sky like a giant bar of soap.

Call licensed Realtor, Laura Boyajian, aka, Laura B. today at 602.400.0008 if you are considering buying a home or selling a home in a Historic Phoenix neighborhood.

Click here to search for homes in The Willo Historic Phoenix District.

Historic Homes Foundation Names New Executive Director

Historic Homes Foundation Names New Executive Director

The Historic Homes Foundation Inc. announced Thursday that David E. Kern has been appointed as the organization's executive director, effective Aug. 21.

He replaces Antonia Lindauer.

For the past two years, Kern has served as executive director of the New Center for Contemporary Art, an art gallery and exhibition space located at 742 E. Market St. At the New Center, Kern was responsible for fundraising, audience development, gallery operations and budget control.

The Historic Homes Foundation Inc. works to advance education, culture and the arts in Kentucky through the preservation, maintenance and public display of historic properties. The foundation owns and operates three historically important sites: Farmington, located at 3033 Bardstown Rd.; the Thomas Edison House, located at 729-731 E. Washington St.; and Whitehall, located at 3110 Lexington Rd.

If you are looking for a historic home in the Phoenix Historic Districts or Metro Phoenix area, call Real Estate Agent Laura Boyajian, aka, Laura B. today at 602.400.0008.

ASU Goes Downtown

ASU Goes Downtown
By Mel Melendez
The Arizona Republic


Central Phoenix resident Agnes Yond, 25, recently sat sipping a latte with a friend at the Arizona Center Starbucks.

It was a tranquil setting, with most of the outside tables vacant that Friday afternoon.

But it likely won't stay that way long. Arizona State University students start classes Monday at the new Downtown Phoenix campus.

"I don't think having the campus in the heart of downtown is a good thing," Yond said. "It's going to make things so crowded. I envision so many problems."

But those backing the multimillion-dollar venture say the benefits of having a top university downtown will far outweigh any negatives.

The urban campus fits in with the city's multibillion-dollar downtown redevelopment effort that includes the light-rail system, hotels, retail space, condominiums, townhouses, university buildings and down the road a University of Arizona medical school, supporters say.

"I think having the school here is a great thing," said Yond's friend, Erica Dyer, 27. "The situation down here now is pretty sad. There's nothing going on in the evening. I think that will definitely change now."

Change in the wind

The new urban campus is expected to draw new jobs, businesses and housing to downtown, increase internship opportunities for ASU students and attract more pedestrians to existing downtown businesses, city officials believe.

"This is such an incredible opportunity for our city," said Mayor Phil Gordon. "If this campus was a private venture, every other city would be chasing it right now because the economic development implications are huge."

About 5,000 students are expected Monday when ASU launches its downtown expansion. Courses will be offered at three locations: the ASU Mercado at Fifth and Van Buren streets, the 411 building at Central Avenue and Polk Street , and the Park Place building at Fillmore and Third streets.

The campus which eventually will sprawl over 20 acres from Van Buren Street on the south to Fillmore and Pierce streets on the north, and from Second and Third streets on the east to First Avenue on the west - opens with a nursing school, the College of Public Programs and the University College.

"We're very excited about the university being here," said Arizona Center business owner Jayne Buckner of Cardware and Jayne's Market Place. "That should definitely be good for business. But it's also going to make things more vibrant downtown, which benefits everybody."

Arizona voters seem to agree. In March they approved an $878.5 million bond package that included $220 million for ASU's fourth campus and related projects.

Campus in transition

Formerly an ASU annex, the Downtown Phoenix campus will have about 2,500 full-time students when classes begin. But officials hope to turn the mostly "commuter campus" into a more traditional university with permanent living quarters to serve about 15,000 students by 2015.

They're now negotiating with a Virginia-based developer to build permanent student housing for at least 700 students by fall 2008. That year, ASU Downtown Phoenix will expand the nursing college, pay for a student union and public park, and relocate the Walter Cronkite School of Journalism and Mass Communication and Channel 8 (KAET) studios from the Tempe campus. The starter light-rail line will also will be unveiled.

"In five years time, downtown Phoenix will have undergone a dramatic change for the better," said Mernoy Harrison, vice president and provost of the downtown campus. "We're thrilled to be partners with the city to help that vision come to fruition."

To search for homes in the downtown Phoenix area, go to Phoenix's Best Website.