Taking a tour of the Phoenix metro area will lead you into neighborhoods vastly different from one another.  So, this begins a series of some of my favorite neighborhoods in the Valley of the Sun and the reasons why I think they are so special.

First let’s start with Downtown Tempe~ Zip Code 85281, Population in all of Tempe 170,000; Size of downtown about 3 square miles. Home to Arizona State University and consequently a very high college student population.  But, with college towns come a bounty of trendy eateries and hangouts.  Of course there are plenty of traditional college residences in the form of condos, townhomes, converted apartments and rental homes but Tempe is also in the state of transition which is attracting a new homeowner. 

Urbanites can now choose from a variety of cool and “skywardly’ built residences.  Tempe Town Lake (which I still find funny that this canal is called a lake…after growing-up on the shores of Lake Michigan in Illinois…but I digress) is becoming the central figure as a host of condos, penthouses and brownstones are being built on it’s shores. 

Waterfront condos include the Hayden Ferry Lakeside development which includes the larger 104-unit, 12-story tower Bridgeview at Hayden Ferry and Edgewater at Hayden Ferry with 40 units in an 8-story tower, both overlooking the “lake”.

Other exclusive properties include The Lofts at Orchid House, concrete & brick loft units where contemporary meets brownstone, Centerpoint Condominiums with spectacular penthouse views, or The Brownstones at Tempe (the name says it all) where you’ll feel like you slipped through some speedy travel machine and were just dropped on a classic street in New York.

The smaller loft units in Downtown Tempe start around $300,000 with the sky-rise penthouses selling for over $1 Million.

But, as I mentioned…Dinner and drinks are just a stroll away down lively Mill Avenue.  Have dinner at RA Sushi or historic Monti’s La Casa Vieja .  Enjoy a meal overlooking the hustle and bustle of Mill Avenue at Gordon Biersch Restaurant or try one of the newest Chic spots I Am the Center Cafe.

There are currently about 188 properties for sale in the downtown Tempe area with prices ranging from $109,000 for a 595 SF 1 bedroom condo to $3,300,000 for a 3217 SF, 2 bedroom, 7th floor penthouse overlooking Tempe Town Lake.

Next stop Chandler, Arizona to find out why it’s teaching other cities a thing or two about living life to the fullest.

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For more Information visit Chandler Arizona Real Estate.  This information was provided by Amy Jones, a multi-million dollar top producing Realtor with RE/MAX Elite.

Amy specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountains communities of Pinetop/Lakes & Show Low. 

Search the Arizona MLS  Search the White Mountain MLS

The Real Estate Market in the Phoenix East Valley continues to show improvement.  Almost all cities show a reduction in active listings and steady buyer activity.  Interesting to note that homes that are selling are typically NOT short sale listings.  In Maricopa where there is a very high ratio of short sale listings for example, of the 48 homes that went under contract last week, only 5 were short sale listings.  We continue to see a high value in homes that are well cared for with a seller who has realistic expectations.  This is the type of home that IS selling. 

The East Valley just last week dipped below 12 months of inventory.  In a normal, balanced market we carry an average of 6 months worth of inventory. 

There was 15.7 months worth of inventory in the East Valley during the last week of October, 2007. We have experienced a gradual reduction in that inventory most noticeably over the last 4 weeks and this could be confirming that we have finally hit bottom.  If so, we should notice a plateau over the upcoming months with a gradual return to normal appreciation.  Good news for homeowners in the East Valley!

For more Information visit Chandler Arizona Real Estate.  This information was provided by Amy Jones, a multi-million dollar top producing Realtor with RE/MAX Elite. Amy specializes in residential, vacation homes & cabins, as well as retirement communities in the communities of Ahwatukee, Chandler, Fountain Hills, Gilbert, Maricopa, Mesa, Paradise Valley, Queen Creek, Scottsdale, Sun Lakes, Tempe and the White Mountain communities of Pinetop/Lakeside & Show Low.  Search the Arizona MLS.