Real Estate

Optimism prevails in the Phoenix real estate market, according to expert Mike Orr, speaking at the Economic Club of Phoenix. Overall supply, which has been low, is now 77 percent of normal and rising fast, he said. But demand is 99 percent normal, which means prices are rising.

Michael Orr, director of the Center for Real Estate Theory and Practice, relives the housing crash while watching the Oscar-nominated film “The Big Short” with The Arizona Republic’s Catherine Reagor.

The 2015 real estate market in Phoenix took off in the first week of February 2015, but quieted down beginning in July to finish the year on a less exciting, steady-as-you-go pace. That’s according to the Greater Phoenix Housing Market Report, issued monthly by Michael Orr, director of the Center for Real Estate Theory and Practice at the W. P. Carey School of Business.

What is business success? Profitability, right? But what if you have other aspirations for your business, such as promoting a social cause or helping the environment? Up to now, for-profit companies could not codify those non-financial objectives.

I have had all manner of tenants in the past, good and bad. With experience, I have developed a successful application process that helps me to find the best possible tenants. When a tenant wants to rent the property after the showing, then it's time for the application.