Record Year for Arizona Land Sales

Yes, you are reading correctly.

Mike Clancy of the Arizona Republic reported that ....

"The Arizona State Land Development has closed another record breaking year with $372 million of real estate sales:.

However, unlike past years, the majority of sales were not to real estate developers.

The sales were primarily to schools, preserves, utility companies and other municipal projects.

And guess who paid for all this land you might ask??? You guessed it, You , the tax payer.

Now I have no problem with Phoenix area municipalities buying land for schools and other projects or the $107 million Phoenix paid for land in Northwest Phoenix near the Desert Ridge and 101 loop.

However,

Mr. Clancy reported that of the the 13 land slaes, six were postponed or cancelled (due to no qualifying bids). The other 6 did not have more than one bidder.

No complaints about the land or the use. I love urban development.

However, ... I am not happy, that I am, that we ,

the Phoenix area Tax payer is the only Real Estate buyer paying full market price.

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Copyright © 2008 By James Wexler, All Rights Reserved. *Record Year for Arizona Land Sales*

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