KEYTLaw

Phoenix Business Journal:  “Cutbacks and closings by big-box stores such as Circuit City, Mervyn’s, Bashas’ and Costco Home have hit Phoenix retail real estate hard accounting for more about half of all vacancies at the end of the third quarter.  Overall vacancies for the metro have risen to 10.9 percent, up from 6.9 [...]

Arizona Republic:  “Home-foreclosure activity has spilled across every geographic and socioeconomic border this year, proving that no community was too cautious, clever or well-funded to remain unscathed.  Subprime lending gave the home-foreclosure crisis its initial push, but the problem could not have reached existing proportions without feeding on a host of broader economic [...]

Arizona Republic:  “High-volume home sales made a welcome return to the Valley housing market earlier this year, with real-estate investors leading the way, followed by first-time home buyers.  But the sales boost has been almost exclusively at the low end of the price spectrum, leaving sellers of high-end luxury homes in a posh [...]