Gilbert breaks ground on Rivulon development

Gilbert's Rivulon project will create 6,500 jobs, double the town's office space, and establish an employment hub.

Gilbert recently celebrated a significant milestone in our evolution from "hay capital" to "high-wage haven."

We gathered at Gilbert Road and Loop 202 to break ground on the planned $750 million Rivulon development.

It's an enormous project that will add 6,500 high-wage jobs, double our office space and firmly establish our section of the Loop 202 Corridor as a Valley employment hub that will attract high-quality companies in targeted sectors, including technology, biomedical, health care and aerospace.

The symbolism of the Nov. 12 event wasn't lost on me.

Dozens of business and community leaders, project partners, elected officials, and others enthusiastically gathered to break ground and embrace our future.

But it wasn't the first time that the ground under the future Rivulon development had been broken.

Parts of the site used to be hay fields. In fact, Gilbert was once known as the "Hay Capital of the World."

As much as I love our history, I also love our future.

Our transformation has been remarkable: As one of the fastest-growing communities in the United States, we've gone from an agricultural-based town to a thriving residential community and an economically diverse hot spot that is a haven for high-wage jobs.

As Arizona's fifth-largest community, we are on pace to see 10,000 new quality jobs created in the next five years.

And Rivulon will help us get there.

The project was made possible, in part, by the town's vision that aligned with a great partner in Nationwide Realty Investors, a company that has a long-standing history of high-quality, sustainable developments.

But we also must acknowledge that Rivulon simply would not have happened without Loop 202.

The freeway literally paved the way for our emerging employment corridor.

So, it made perfect sense to have the Arizona Department of Transportation director, John Halikowski, attend the Rivulon ceremony to highlight the importance of transportation infrastructure on our economic development.

In Gilbert, we are always thinking about the future. It's in our DNA.

That's why we will continue to have discussions with our state-elected and business leaders on future infrastructure opportunities, such as a Lindsay Road/Loop 202 interchange that would be an access point on the eastern edge of the Rivulon development.

We believe this interchange will be a critical piece of the future development of the site and the surrounding area.

In fact, an interchange could mean an additional 1 million square feet of Class A office space at Rivulon.

In short, transportation infrastructure equals economic development.

And that is certainly beginning to take shape here in Gilbert, now and for the future.

As Rivulon comes to life over the years and brings new life to the entire southeast Valley, we will revel in the sustained excitement that comes along with it.

These high-tech companies, high-end hotel rooms and high-quality office space will be home to the entrepreneurs and job creators of tomorrow.

The writer is mayor of Gilbert

John Lewis, Special for The Republic | azcentral.com 9:53 a.m. MST December 1, 2014

Can shopping around for a Mortgage keep you from getting one?

It never hurts to ask – or does it? Here’s what you need to know about how credit checks can affect your mortgage rate?

Almost all home buyers know that higher credit scores mean lower mortgage rates, so it’s no surprise that one of the top questions home buyers ask is: will shopping for mortgage rates lower my credit scores?

The short answer is “No.” But only if you manage your mortgage shopping process correctly. Here’s how to preserve your credit score while shopping for the best rates.

Is it safe to have multiple lenders run my credit?

Three bureaus generate your credit scores: Equifax, TransUnion and Experian. Lenders report your monthly activities on student loans, credit cards, auto loans and mortgages to these bureaus, who then score you on an ongoing basis. Your credit scores change constantly each month based on factors like:

•   Credit card balances relative to limits

•   Number of open accounts and length of time accounts have been open

•   On-time versus late payments

•   Number of inquiries

When it comes to that last factor, credit card inquiries hit your score harder than car and mortgage inquiries. For example, if you’re out shopping at three department stores and allow all three stores to process new credit cards for you, the bureaus’ scoring models are coded to lower your score for each individual inquiry.

Each inquiry would lower your score by up to five points, or more if you have just a few accounts and/or a short credit history. The inquiries would stay on your credit report for 24 months, and your score wouldn’t recover for about 12 months — until you demonstrated strong payment history and balance-to-limit control on those new cards.

Car and mortgage inquiries make less of an impact because the bureaus know consumers shop for these big-ticket items. The bureaus’ scoring models are coded to “de-duplicate” multiple mortgage inquiries, since the end result of those inquiries would be one mortgage.

For example, if you were shopping for a mortgage with three lenders, and all three ran your credit one week, the three inquiries would show on your report, but would be scored as only one, so your shopping process would cause your score to shift by up to five points instead of up to 15.

How long can I shop for mortgages without damaging my credit?

Equifax, TransUnion and Experian are constantly changing scoring models. The newer the model, the longer a consumer can shop for mortgages with multiple lenders and have all inquiries scored as one. There’s no law requiring lenders to upgrade to the latest model, and it’s impossible to know which model is being used by which lender at any given time.

The oldest scoring models still being used by lenders de-duplicate multiple mortgage inquiries posted on your credit report in the past 14 days. The newest models de-duplicate multiple mortgage inquiries posted on your credit report in the past 45 days.

Obviously, the newer models allow for more shopping time, but since you won’t know which credit scoring model your various lenders are using, it’s safest to get your mortgage shopping done (including having lenders run your credit) within 14 days.

Will lenders take a credit report I ran myself?

You’re reminded constantly by the media and advertisements that you should check your credit regularly, but before you do anything, you must understand the following critical points:

•   Federal law requires mortgage lenders to check your credit history and scores when approving your loan. So even if you have your own report, the lender can’t accept it. If they’re going to lend to you, they must run their own credit report on you. They will run scores from all three bureaus, and typically use the middle of the three scores to finalize your rate and make loan approval decisions. However, some lenders might provide initial rate quotes if you can provide a reliable and recent credit score estimate.

Federal law also states consumers must be able to obtain a free credit report every 12 months. The only government-sanctioned place to do this is AnnualCreditReport.com. This service provides a stripped down report that doesn’t give you a credit score. There is a charge for the version of the report that includes your score. Before you pay a third party that lenders won’t accept, remember that if you’re a serious mortgage shopper (rather than someone just monitoring your credit history for other reasons), you’ll need to allow a mortgage lender to run your credit report. That lender can brief you on your credit scores and history.

Contact The Ehlen Team today to help you every step of the way towards achieving your real estate goals and receive our preferred lender contacts that will get you set up with the best mortgage rates while delivering great customer service!

TIPS & ADVICE / STORY / BY ZILLOW TEAM ON 19 NOV 2014

Source: Tim Reckmann via Flickr Creative Commons

Happy Thanksgiving!

Happy Thanksgiving from The Ehlen Team in beautiful, sunny Arizona! Hope everyone had an incredible day with family and friends.

Thanks to Paul Kimball for sharing his photo. It was taken from the Jacob's Crosscut Trail in the Superstition Mountains.

New Commercial, Upscale Development Coming to Agritopia in Gilbert, AZ

Agritopia Epicenter may be Gilbert, AZ third dining core

Gilbert's Agritopia Epicenter is now on target.

The mixed-use, upscale development on the northwestern corner of Ray and Higley roads was initially rebuffed by residents of the master-planned community for its density.

Last week, however, Gilbert's Design Review Board unanimously approved the project without any public protest.

"We reconfigured it, and there is no opposition," said developer Joe Johnston, whose family used to farm the land. "We listened to the residents and tried to redesign it in a way to make everybody happy."

Among the changes were more space between the residential and commercial buildings, and changes to the flow of traffic.

Epicenter, consisting of four mixed-use buildings, will create a town center for Agritopia, Johnston's popular "village" built around an urban farm. The bottom floors of the buildings will host retail shops focused on dining and health, while the three top floors will be luxury apartments. A beer garden is included in the plan.

The project envelops nearly 22 acres. Construction will begin in about 10 months, with an opening planned in fall 2016.

Johnston said he looked at traditional, mixed-use projects In cosmopolitan cities, including Paris, for inspiration. He sought to create a lively street scene, unique to Arizona, but not so elsewhere.

Within the retail component, he seeks to attract the best of Arizona.

"Instead of having an anchor tenant, we will have an anchor philosophy," he said. "Everybody here has to be passionate about what they're doing, whether it's running shoes or beer or ramen, they have to know their craft, so they can't be amateurs that don't know what they're doing and have to be committed to quality."

Johnston sees Epicenter developing into a third dining core for Gilbert; the first two being the Heritage Marketplace in downtown Gilbert, and the second at the SanTan Village mall complex.

National dining chains will not be considered for Agritopia's Epicenter.

Johnston is working in conjunction with Phoenix-based RED Development, which created the CityScape project in downtown Phoenix. Epicenter's apartments will be owned and managed by IPA Management, which specializes in multifamily housing and recently established a senior living community called Generations at Agritopia.

MORE: Generations in Agritopia: Upscale senior-living for Gilbert elders

The one- to three-bedroom apartments will feature outdoor dining spaces and rooftop access. Some of the buildings will have skybridges to connect with each other.

"Here you will have the best of vibe and also the best of suburbia because a lot of people think badly of suburbia, but suburbia's got some positive aspects as well," Johnston said. "Village life and urban life as well. We think there's going to be a fair number of young people and also a fair number of Canadian clients."

Underlying the project will be agriculture, the signature theme at Agritopia. Date palms, citrus, beds of herbs and vegetables will be placed throughout, with the produce available to the restaurateurs.

Johnston's vision is to create a destination known far and wide. Four generations of his family live in Agritopia, including his parents, Jim and Virginia Johnston, who started it all.

"We've always enjoyed farming here, but Joe's done such a good job," said Jim Johnston, who no longer plays an active role in the family business.

Epicenter adds a feather to the crowded cap of Joe Johnson, which contains Joe's Real BBQ, Liberty Market, Joe's Farmhouse and the Coffee Shop, to name some. There's more to come.

Johnson plans to develop a silver barn on the property into artisan space for microbusinesses. It will be "very small for very talented people," he said.

Would that signal the end?

"Towns never stop developing and changing," Johnston said. "But probably, it's close to the end."

Srianthi Perera, The Republic | azcentral.com 6:23 p.m. MST November 22, 2014

Why November is the Best Month to Sell Your Home

Some owners hesitate to market their homes between Halloween and New Year’s Day, believing the holiday season to be an off-peak time to sell. But the idea that houses don’t sell in November and December comes from outdated historical trends.

In fact, several studies show that, on average, homes listed during this time are more likely to sell, sell more quickly, and sell closer to the asking price. November, in particular, has some unique advantages that make it an ideal time to sell. Here are three reasons why Thanksgiving month might be the best time to sell your home.

More motivation

The idea that homes sell best in spring and summer stems from the fact that parents want to wait until summer to move school-aged children. But today, more than half of buyers aren’t married, so their decisions aren’t necessarily based on kids’ schedules.

If buyers are looking for a home in November, they’ve either waited through the busy season in hopes of a better deal, or they’re facing their own time constraints due to work changes or other reasons. For these highly motivated buyers, the traditional barriers to winter house-hunting — bad weather, short days, holiday preparations — don’t apply. If your house is available for them to view in November, these buyers are more likely to make an offer close to listing price.

Less competition

Because of the misconceptions about selling during winter, it’s true that many sellers don’t think it’s worth their time to try and sell their homes toward the end of the year, so they take their homes off the market. Their loss of a potential buyer is your gain!

Serious buyers have fewer homes to choose from over the holidays. That means less competition for you — and more buyers checking out your even more desirable home, either online or in person.

Tax benefits

A house marketed in November may lure buyers looking for year-end tax breaks. Buyers looking to lower their taxes may snatch up a home late in the year so they can deduct home purchase costs. That includes points, interest and property taxes.

And if someone sold a house during the traditional summer selling season and faces capital gains tax on the deal (because he’s an investor or lived in the house for fewer than two years), he may be highly motivated to buy in November since closing on the purchase of another house within 180 days lets him avoid paying capital gains tax.

Sandie Angulo Chen

November 6th, 2014

Thinking about selling your home? Contact The Ehlen Team today and we will come walk through your home with you to determine exactly what you need to do to get it ready to sell and give you a FREE no obligation home sales analysis. 

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