Phoenix-area foreclosures continue upward trend

August 16, 2010

The Phoenix-area housing market just saw its highest percentage of foreclosures in months. A new report from the W. P. Carey School of Business at Arizona State University shows foreclosures made up 43 percent of the existing-home market activity in July. That’s the highest percentage in the Valley since January.

“After three months in the 30-percent range, the Phoenix area is back in the 40-percent range,” explains Associate Professor of Real Estate Jay Butler, who authored the new report. “This is the second month in a row with a percentage increase in foreclosures. Before that, we were seeing declines.” Download Full Image

The good news is that, even though the percentage was high in July, the actual number of foreclosures is not as dismal. The Phoenix-area market had almost 3,900 single-family home foreclosures in July. That’s about the same number as June, and actually a little less than last July’s 4,200 foreclosures.

Market activity overall is slowing down, which is normal for this time of year. Late summer is considered the end of the selling season. About 5,100 homes were resold in July, way down from almost 6,900 resales in June and 7,300 resales last July.

Butler says, “If you’re not selling an inexpensive entry-level home, it can be tough to sell in this market. People who normally might be looking for a ‘move-up home’ may be satisfied to stay in their current house, given the economy.”

The median price of homes resold in July was $137,500, down from $143,000 in June. However, prices are still up from last July, when the median price was $135,500.

The townhouse/condominium market had about 600 foreclosures in July, roughly the same number as in June. However, the median price dropped dramatically from $94,600 in June to $84,500 in July. This is a steep downward trend, since the median last July was $106,500.

Butler’s full report, including statistics, charts and a breakdown by different areas of the Valley, can be viewed at">">htt.... More analysis is also available from Knowledge@W. P. Carey, the business school’s online resource and biweekly newsletter, at">">

Bioethics film series looks at organ transplantation

August 16, 2010

Should someone be allowed to sell a kidney to a stranger who needs a transplant? Who should be allowed to decide who gets available hearts, kidneys, lungs, hands – and even faces?

These questions and others will be discussed during the annual fall Bioethics Film Series at Arizona State University. Download Full Image

In his class – "Bioethics in Film" – Jason Robert, the Franca Oreffice Dean's Distinguished Professor in the Life Sciences and the Lincoln Associate Professor of Ethics in Biotechnology and Medicine, shows films – to which the public is invited – and then holds discussions following the films.

This year’s fall series is titled “Organ Transplantation.” All films will begin at 5:40 p.m., in Schwada Classroom Office Building room 150, Tempe campus.

The schedule is:

Thursday, Sept. 16: “The Harvest Project,” a psychological thriller set in the world of the black market human organ trade. “The Harvest Project” asks the question: What would you do to save the life of someone you love? This is a story about the consequences of desperate actions, of blind greed, and of startling sacrifice (Internet Movie Dabatase, IMDb). MPAA Rating: NR.

Thursday, Oct. 7: “Seven Pounds.” An IRS agent with a fateful secret embarks on an extraordinary journey of redemption by forever changing the lives of seven strangers (IMDb). MPAA Rating: PG-13.

Thursday, Oct. 28: “A Christmas Tale.” The Vuillard family is no stranger to physical/mental illness, loss, and banishment. But when the matriarch becomes in need of a transplant, the whole family is forced to come together, emotional baggage and all, just in time for Christmas (IMDb). MPAA Rating: NR.

Thursday, Nov. 18: “My Sister’s Keeper.” Anna Fitzgerald looks to earn medical emancipation from her parents who until now have relied on their youngest child to help their leukemia-stricken daughter remain alive (IMDb). MPAA Rating: PG-13.

The series is presented by the Bioethics, Policy & Law Program, in association with the Center for Biology and Society.

For more information about the class, contact Robert at (480) 727-8857 or Jason.Robert">">