T.W. Lewis Luxury Leasing


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February 7, 2014, 9:02 pm
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TOM LEWIS RECEIVES NATIONAL HOUSING QUALITY AWARD

National Housing Quality Hall of Fame Award

T.W. Lewis Company Founder CEO Tom Lewis has been recognized as the first inductee into the National Housing Quality Award Hall of Fame. Lewis is being recognized for his overall contribution to the housing industry and for his overall impact in the field of quality homebuilding.  The award was given by Professional Builder Magazine and the examining judges of the National Housing Quality (NHQ) Award.  The NHQ Award is modeled after the Malcolm Baldrige National Quality Award (which recognizes U.S. organizations in the business, health care, education and nonprofit sectors for quality achievement) and represents the housing industry’s highest recognition for achievement in total quality management.   T.W. Lewis Company received the NHQ Silver Award in 1998 and the prestigious NHQ Gold Award in 2009.

“This is a tremendous honor.” Lewis said.  “I am very pleased that our commitment to quality homebuilding is being recognized in this way.  This award was achieved over many years through a strong commitment by all of our employees that have taken great pride in every T.W. Lewis home.”  T.W. Lewis Company is an Arizona-based homebuilding company. For more information, please visit http://www.twlewis.com.

About T.W. Lewis Company

T. W. Lewis built its reputation for fine homebuilding in Phoenix by building 250 to 350 quality homes annually, since its inception.  A new chapter has opened for T.W. Lewis, which has entered into a partnership with David Weekley Homes, a well-respected, national private builder.  Under the new partnership, homes are marketed in Arizona as T.W. Lewis by David Weekley Homes, with Founder and CEO Tom Lewis remaining active in management.  Although no longer considered a homebuilder, T.W. Lewis continues to be an integral part of the Arizona landscape by leasing luxury T.W. Lewis homes, developing land and making real estate investments.  For more information, visit http://www.twlewis.com



Tips From J.D.

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Why Phoenix is NOT Headed for Another Housing Bust

Why Phoenix is NOT headed for another housing bust

Michael Orr

Kristena Hansen
Reporter-Phoenix Business Journal

Rumors have been percolating lately that the rapid rebound of the metro Phoenix housing market may soon lead to another bust.

Arizona State University’s Michael Orr, on the other hand, thinks that notion is ludicrous — so much so that he carved out a new section of his latest monthly housing report to debunking it.

The speculation refers to the thousands of metro Phoenix homes that were scooped up by small and large institutional investors during the downturn. Many of those properties have since been flipped into income-generating rentals, largely providing housing for those who lost their homes during that time.

But for the past year or so, Valley home prices have been rebounding much faster than anyone had previously predicted. Orr’s latest report, released Monday,indicated a 30 percent year-over-year spike in the Valleywide median home price in April.

Some now fear that the price surge will entice those same investors to soon dump those properties back on the market all at once.

But Orr believes the impact that investors have had, and could have, on the market is largely overstated.

“Such talk gets a lot of attention because we are over-sensitized to bubble talk after the disruptive events of 2004 to 2006,” Orr said in the report. “However, this idea falls flat when we examine the actual number of homes involved.”

Investors went on a “buying spree” when foreclosures and short sales began flooding the market several years ago. Institutional investor activity peaked last summer — New York-based Blackstone Group LP being the most active by far — but has since waned as prices have increased, foreclosures have taken a nosedive and there’s a severe shortage of homes for sale.

In total, institutional investors own between 10,000 and 11,000 rentals today, which Orr noted is less than 1 percent of the Valley’s entire housing stock.

“If every single one were to be placed for sale on our local (Multiple Listing Service) next month, we would still have less supply than in a normal balanced market,” Orr said. “This is because our active listing count is down by about 15,000. We would also need to find homes for the tenant families displaced. In the real world, these rental homes are likely to be held as investment properties for several years and come back onto the market relatively slowly.”

http://www.bizjournals.com/phoenix/blog/business/2013/06/why-phoenix-isnt-headed-for-another.html?ana=e_du_pub&s=article_du&ed=2013-06-11&u=niuEtqLwToHH7+4xMEvF9pVPFl6&t=1371069786&page=all



New Growth Spurt for the Valley
June 4, 2013, 6:32 pm
Filed under: In the news | Tags: , , , , , , , ,

 

New growth spurt for Valley

Phoenix poised to pass Philadelphia; Buckeye’s surge ranks 9th in U.S.

Arizona growing again: Nearly all of the state’s largest municipalities gained population in 2012, the Census Bureau estimates.

By Ronald J. Hansen

The Republic | azcentral.com

Thu May 23, 2013 7:37 AM

Shaking off a population slump tied to the housing bust, Phoenix once again was among the nation’s fastest-growing cities last year, newly released Census Bureau estimates show.

The city added more than 24,000 new residents and edged closer to overtaking Philadelphia as the fifth-largest city in the country. The population surge spilled into the Valley’s suburbs as well, with 11 municipalities adding a collective 42,000 new residents. Among them was Buckeye, which ranked as the ninth-fastest growing city in the nation in 2012.

Nationwide, 94 of the 100 largest cities gained population, a sharp improvement from recent years when growth was more subdued. The gains were sharpest in Texas, with six of the nation’s 20 largest cities growing briskly again.

The annual census estimates are slightly higher than estimates produced by the state, but they both suggest growth is picking up momentum in Arizona again.

“The growth has resumed, but it’s nowhere near what it was in the middle of the last decade,” said Jim Chang, the state demographer. “There was a pause for a couple of years, but it looks like the economy is growing again.”

Economic gains usually translate into population gains as well, he said.

Phoenix is estimated to have 1.49 million residents, about 59,000 fewer than Philadelphia. But Phoenix grew 1.7 percent last year while Philadelphia grew 0.6 percent, suggesting a reordering is only a matter of time.

The Census Bureau has been wrong before. It overestimated growth in Arizona by the widest margin in the country leading up to the 2010 census. Phoenix was originally thought to have passed Philadelphia by 2006, only to learn it had fallen short.

In the metro area, Mesa, Gilbert and Chandler added a combined 20,000 residents.

Tucson gained population in 2012 as well, but at a far slower pace, the Census Bureau estimates. It showed Tucson gaining about 1,100 residents, for 0.2 percent growth. By comparison, Buckeye added nearly 2,200 residents, for 4.1 percent growth.

Chang said the Tucson area is expected to grow more slowly than the Valley for years to come.

Yuma was the only large Arizona city to shed population, losing an estimated 700 residents. Lake Havasu City added an estimated 11 residents.

Many of the biggest U.S. cities, such as New York, Houston, San Antonio, San Diego and Dallas — like Phoenix — are outpacing the nation’s 1.7 percent growth rate since 2010.

“Urban America is recovering faster than more remote, more rural places,” said Robert Lang, a professor of urban affairs at the University of Nevada-Las Vegas.

Lang said urban areas appeal to Millennials (those born from about 1982 to 2001) “in part because they haven’t seen cities in crisis. They missed the riots of the 1960s, the urban decline of the 1970s and the crack epidemic of the 1980s.

“If you’re a kid born in 1993 or 1992 and you’re in college now, you’re looking around the country thinking about where you want to move … you’ve seen fairly … tranquil cities, in relative terms to what their history was.”

The urban resurgence is led by midsize cities including Austin and Fort Worth, Texas, and Charlotte, N.C. Austin grew 6.6 percent in two years, leapfrogging Jacksonville, Fla., Indianapolis and San Francisco to become the nation’s 11th-largest city. In 2000, it was No. 17.

USA Today contributed to this article.

http://www.azcentral.com/business/arizonaeconomy/articles/20130522phoenix-poised-pass-philadelphia-buckeyes-surge-ranks-th-us.html?nclick_check=1



T.W. Lewis Foundation Awards Scholarships

http://frontdoorsnews.com

Send ‘em to College

Posted By  on May 31, 2013

Scholarship Recipients Honored at Recent Scholarship Banquet

TW Scholarship AwardT.W. Lewis Foundation has awarded scholarships to local high school seniors at its 12th annual scholarship banquet.  Every spring, 10-12 valley high school seniors are awarded $20,000 scholarships from the T.W. Lewis Foundation based on demonstrated leadership potential, personal character, academic achievement, and financial need.  Scholarships for 2013 were awarded to 12 recipients to attend the Honors College at either Arizona State University or University of Arizona.

The 2013 T.W. Lewis Foundation Scholarship Recipients and their high schools are:  Nicholas Deininger, Cactus Shadows High School; Madelynn Fretto, Xavier College Prep; Matthew Harris, Brophy College Prep; Mikaela Hall, Horizon High School; Edward LeBeau, Tempe Prep Academy; Parth Patel, North Canyon High School; Amber Pirkl, Bourgade Catholic High School; Benjamin Rabichow, Boulder Creek High School; Jordan Stupka, Xavier College Prep; Tristan Stoutenburg, Washington High School; Kristy Westgard, Chandler High School; and Tiffany Yang, Ironwood High School. They were honored at a banquet held at the Arizona Biltmore.

The 12 recipients will receive $20,000 ($5,000 per year) in financial aid for four years at either Arizona State University’s Barrett Honors College or University of Arizona’s Honor College, subject to minimum academic requirements.  Additionally, they will receive personalized career coaching, a two-day leadership conference this summer, and leadership and motivation books throughout the year, as well as networking opportunities.

“We had over 170 applications this year and many talented and deserving candidates,” said Tom Lewis, founder, owner and CEO of T.W. Lewis Company.  “After a thorough interview process, we are excited about our 12 new recipients.”

Established in 2000, T.W. Lewis Foundation was formed by Tom and Jan Lewis to help focus their family’s charitable activities.  The purpose of T.W. Lewis Foundation is to improve the quality of life for others by helping people and organizations reach their potential.  T.W. Lewis Company is an Arizona-based real estate company.

OPEN THE FRONT DOOR TO   T.W. Lewis Foundation 

http://frontdoorsnews.com/2013/05/foundation-awards-scholarships-to-students/



Good News for Luxury Homes
May 16, 2013, 11:41 pm
Filed under: In the news | Tags: , , ,

Real estate: Luxury home sales in Phoenix trending upward

Real estate: Luxury home sales in Phoenix trending upward

Kristena Hansen
Reporter-Phoenix Business Journal

The continued shortage of existing-home listings has driven prices up and sales down in nearly every price range — except for metro Phoenix’s most expensive homes. A recent luxury home report by broker Walt Danley and Arizona State University real estate expert Michael Orr showed properties priced higher than $500,000 posted some of the strongest post-recession sales figures in March as foreclosures and short sales evaporate and supply rises.

See the numbers by clicking the image at right.

http://www.bizjournals.com/phoenix/print-edition/2013/05/03/real-estate-luxury-home-sales-in.html



Phoenix Makes Top 10 Best Cities to Rent In
April 26, 2013, 7:53 pm
Filed under: Community, In the news, Leasing | Tags: , , , , ,

10 best cities to buy a rental property

Phoenix

Average home price (2011): $155,600

Projected home price (2014): $148,200
Gross rent (2011): $834
Projected gross rent (2014): $936

Phoenix was the poster child for the housing bubble: Speculation sent home prices soaring by annual double-digit increases for three years until the bubble popped in 2007 and they have fallen more than 47% since.

Foreclosures have been a big problem here and many people who lost their homes are now renting. As a result, rents are on the rise. Local Market Monitor estimates rents will increase by more than $100 a month over the next three years.

The two biggest positives for those looking to invest in rental properties in Phoenix, according to Winzer, are that the job market is growing again and people are still moving to town. In fact, the population has grown by 8% since 2006.

He expects rental investments to pay 2.3% bigger return in the Phoenix metro area than the national average.

 

http://money.cnn.com/galleries/2011/real_estate/1107/gallery.best_investment_markets/8.html



The Housing Market is Sizzling
April 26, 2013, 7:43 pm
Filed under: Community, In the news | Tags: , ,

The home bidding wars are back!

multiple bids real estate market

The competition has been most intense in California, where 9 out of 10 homes sold in San Francisco, Sacramento and cities in Southern California have been drawing competing bids.

NEW YORK (CNNMoney)

The bidding wars are back. Seemingly overnight, many of the nation’s major housing markets have gone from stagnant to sizzling, with for-sale listings drawing offers from a large number of house hunters.

In March, 75% of agents with broker Redfin said their clients’ offers were countered by rival bids, up from 56% who said so in late 2011.

The competition has been most intense in California, where 9 out of 10 homes sold in San Francisco, Sacramento and cities in Southern California drew competing bids during the month. And at least two-third of listings in Boston, Washington D.C., Seattle and New York generated bidding wars.

“The only question is not whether a new listing will get multiple bids but how many it will get,” said Kris Vogt, who manages 14 Coldwell Banker offices in the Sacramento area. One home in an Elk Grove, Calif., subdivision recently received 62 separate bids. The final sale price was for more than $150,000, well above its $129,000 asking price.

In Cambridge, Mass., two condos that could be combined into one large home hit the market two weeks ago for $800,000 each, according to Pat Villani, president of Coldwell Banker Residential Brokerage in New England.

“The brokers stopped taking names after the number of bidders reached 250,” she said. The winning bidder offered $2 million for both units.

 

http://cnnmon.ie/10MbLJf



Phoenix is Growing in Popularity
April 24, 2013, 5:08 pm
Filed under: In the news | Tags: , , , , , ,

Phoenix among top moving destinations in U.S. for 2012

Click through the slideshow to see the top 15 cities on U-Haul's annual national migration trend report,

Phoenix was ranked as the 14th most popular moving destination in America last year, according to a report from U-Haul International Inc.

But for the fourth year in a row, Houston took the No. 1 spot on U-Haul’s annual national migration trend report, “The U-Haul 2012 Top 50 U.S. Destination Cities,” released April 12.


Click through the slideshow at right to see the top 15 destination cities in the U.S., according to U-Haul’s report.


The ranking is based on the number of movers renting a truck one-way and was complied from more than 1.6 million one-way U-Haul truck transactions over 12 months. Although the data is not stated as a percentage of population and is not reflective of growth, U-Haul said, it includes every U.S. city, regardless of size.

Reno, Nev.-based Amerco (Nasdaq: UHAL) is the holding company for Phoenix-based U-Haul.

http://www.bizjournals.com/phoenix/phoenix-among-top-moving-destination.html?ana=e_du_wknd&s=article_du&ed=2013-04-20&u=OowPQu7IVJxoEkfwag1K4w003b18f4