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The Arizona Republic reports that housing developments are moving closer to Palo Verde Nuclear Power Plant in Tonopah, and that thousands of homeowners are expected to move within the plant's 10-mile emergency notification zone during the next two decades. Development plans have been filed with Maricopa County for eight master-planned communities, most north and east of Palo Verde, with more than 107,000 dwelling units on 33,000 acres. Even with the housing slowdown, speculation has continued to drive up prices around Tonopah. The price per acre has more than tripled to almost $60,000 an acre between Interstate 10 and the nuclear power plant during the past three years, local real estate agents said. Developers within 10 miles of Palo Verde must provide emergency horns within their subdivisions and signs indicating routes of quick access in the event of an evacuation.
AN IDEAL TIME TO BUY A HOME!!!
Despite a softening real estate market, the sky isn’t falling. In fact, today’s market conditions are ideal for buyers, who can choose from a wider selection of homes, find better deals, and still take advantage of low interest rates.
“The media isn’t telling the story. These are perfect conditions for the buyer,” said Tom Stevens, president of the NATIONAL ASSOCIATION OF REALTORS®, at the Member & Director Update on Thursday evening.
“A price correction is not something we should fear,” added NAR Chief Economist David Lereah. Buyers who had been on the cusp of affording a home will have the opportunity to jump into the market, he said.
And unlike in housing downturns of the past, which were spurred by job losses and high interest rates, today’s consumers have job stability and the financial wherewithal to purchase a home, Lereah added. He also noted that 74 percent of housing markets are now on an upward swing.
Active listings down to 46,801........
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