Phoenix Real Estate Roundup 04/19

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ASU Real Estate Students Learning from Real Projects

Arizona State University’s Masters program in real estate development (MRED) is uniquely situated to provide its academics with real world experience solving real world development problems. Since Phoenix is a major yet very young city, it still has a ways to go. By 2040, Phoenix is expected to have added the current equivalent of Denver’s population to its own. This means there will be a ton of development happening before that time. These students are actually helping on community-based development projects which then gives the MRED recipients a leg up on the competition in the job market since they have actual real estate development projects on their resume! Read more here to check it out: ASU MRED

More Affordable New Valley Homes can be Found on the Outskirts

The Phoenix Metro area has long had the reputation of being one of the most affordable big cities in the Western United States, and that was certainly true until now. Phoenix housing prices are growing out of proportion to wages and that is causing many locals to continue renting instead of buying. For those who do buy a home, they are having to drive much farther away from the city center in order to find a new home that is priced at $185k or less. There are 10 neighborhoods that still have some affordable new homes and you can read about them here: Affordable New Phoenix Homes

Phoenix Real Estate Developer Hit with $37M Fraud Case

Ken Losch, head of a failed Tempe condominium venture has been charged with 37 million dollars worth of wire fraud. Ken is the founder of Advanced Green Innovations, a “green” technology laboratory which had been raided by federal agents back in 2015. Centerpoint, the condominium project in downtown Tempe that lost approximately $150 million of investor money was the highest profile disaster for Losch. The property was salvaged by another firm and renamed West 6th. Ken has pleaded not guilty on all charges. Read about it here: Real Estate Fraud Case