The Federal Reserve today cut the Fed Funds rate by .5 percent to 4.75%, the first rate cut since June 2003. The full press release is available here.

Note that the .5 percent drop doesn’t mean interest rates necessarily will drop by the same amount. Interest rates move due to supply and demand factors and to some degree a cut already was reflected in the rates. However, most were expecting a .25 cut so some downward movement can be expected - it just may take a while.

Is this good for the housing market? Bad? Will it not matter a whit? What say you?

Technorati Tags: real estate financing, interest rates, Ben Bernanke

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Tags: Real Estate Financing, General Real Estate by Jonathan Dalton
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As promised, below is a map for the Arrowhead Ranch real estate market as a whole.

My question to you is whether it would be of more use to keep the actives on a separate map but differentiate between price ranges. Or to possibly have two or three maps with different price ranges. Because what this map tends to show is everything’s for sale but the details are hard to come by … unless you check my Arrowhead Ranch listings at Arrowhead Ranch Living.Com.

Data is provided by ARMLS and is deemed reliable but not guaranteed.

Technorati Tags: Arrowhead Ranch, Glendale real estate, Phoenix real estate

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Tags: Phoenix Neighborhoods, General Real Estate by Jonathan Dalton
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This one didn’t take long to load onto the map as there were only two closed sales last week in Arrowhead Ranch. This is consistent with the overall market, which has seen a steady decline in sales over the past couple of months.

I’m working on a new map with all of the current Arrowhead Ranch real estate activity - hopefully it will be ready to post later today.

Data is from ARMLS and is deemed reliable but not guaranteed.

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Is it okay for a real estate agent to say he doesn’t know? What about if the topic is Mill Avenue on the campus of Arizona State University in Tempe, an area that looks exactly nothing like it did when I graduated in 1990?

Having spent considerable time on Mill Avenue once upon a time, I’m certain that I had walked into this building at least once. But I really don’t recall what was there. And after two days of researching every construction project in Tempe (and there are dozens), I still can’t find out what’s happening here.

This building is on the northeast corner of 5th Avenue and Mill, across from the Owl’s Nest and Hooters on one side and Gordon Biersch on the other. Anyone know what the plan is?

On a Mill Avenue-related note, I ran across the 100 South Mill Blog written by Michael Monti, the owner of Monti’s La Casa Vieja at the base of the Mill Avenue Bridge. Great steaks, folks. The blog combines information on the restaurant with happenings along that section of Mill.

If you’re planning a trip down to the Valley, particularly the Tempe area, it’s not a bad place to start reading.

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