The Arizona Republic announced today that the city of Phoenix might increase the amount a Phoenix homebuilder is required to pay in water supply impact fees. The fees are used to pay for the necessary adjustments needed to meet an increase in water demand caused by residential growth. The article mentioned that the cost of water supply impact fees has not been raised since 1989 and that homebuilders may be required to pay as much as 100% more. The public meeting is set for May and voting will start as early as June. If the fees are increased, they will represent one more dilemma facing Arizona new homebuilders as they work to decrease inventory levels and earn a profit.
Here’s a link to the article from the Arizona Republic
http://www.azcentral.com/business/articles/0327phx-waterfees0328.html
Subscribe to our New Homes Blog!
In addition to the price of everything from copper to concrete, anything related to petrochemicals and the cost of transportation, that is a killer, especially in an already down market.
The post also talked about the huge decline in prices. At least homes are moving better and I am happy to know that.I learned a lot from this article. Now is the time to buy because the prices of the market are down so I think it is a nice opportunity to invest