A recent press release tells us that KB Home will be making a move to the Hayden Ferry Lakeside development near the heart of Downtown Tempe.

“The new headquarters will be located at Hayden Ferry Lakeside in Tempe and offers convenient access to major transportation, including Phoenix Sky Harbor International Airport.” Per KB Home

While the Hayden Ferry buildings are, in fact, close to Sky Harbor, the location offers many other benefits that employers have been noticing.

Hayden Ferry: Central Location, Many Opportunities

Downtown Tempe has seen many companies choose this Rio Salado Corridor as their new home in recent years. This central location gives employers access to many things they need for sustainable growth.

This Rio Salado Corridor location is home to several large employers and is very close to Arizona State University. ASU graduates tens of thousands of people each year in Tempe. The area is also home to the booming Novus Innovation Corridor.

The City wasted no time in welcoming the home builder to their downtown area. See the X mention here:

KB Home Is Moving Spring of 2027:

Per KB Home, the move to Hayden Ferry will be completed in the Spring of 2027. “bringing executive leadership and key corporate functions together in a more central location that will lower the company’s cost structure over time. The Phoenix metro area has a business-friendly operating environment that is expected to further enhance efficiency and support long-term profitability.”

We have no doubt that KB employees will enjoy their new area. This 85281 zip code provides endless opportunities for living, working and playing in the area. From hiking “A Mountain” to a vibrant transit system, amazing restaurants, easy access to sports and entertainment, it’s all right here at their doorstep.

Several parts of the video below show the Rio Salado Corridor and some of the many things surrounding this area. Our own Tempe Economic Development Department has, no doubt, been in contact with KB to help lay this goundwork.

Should the company decide to embed themselves in the community, there will be many great opportunities for them. Tempe is well known as a place where collaboration and community involvement are a large part of the culture.

So, welcome to Tempe, AZ. You have made an excellent choice.

In response to the recent media coverage regarding private exclusive listings, I want to add some of my perspective to this conversation.

My concern is not just about listing strategy. My concern is about access and representation of the majority of home buyers and home sellers.

Access to listing inventory and access to opportunity are are very important to our industry. When we shift toward controlled distribution, private networks, or off-market listings, the majority of home buyers and sellers do not benefit from these moves.

Our MLS system works because it is designed for open and honest display of information: It has done a great job of that for a very long time.

The Power of the Level Playing Field

For decades, the MLS system has been an effective and transparent marketplace. It ensures an open and honest display of information, creating a level playing field where every buyer has a chance to compete and every seller receives maximum exposure. When we move toward “walled gardens”, we aren’t just changing a business model—we are potentially creating barriers to homeownership.

ARMLS and Data Integrity:

Here in our Arizona market, we are served by ARMLS. I believe this system has been a great asset for many years. Many people don’t understand how important it is to have accurate data. Our industry benefits greatly from a centralized system where REALTORs share listing and transaction data.

Many people don’t understand where most of the data comes from when they are searching online for a home. Data and industry integrity are paramount to accurate and up-to-date information. Almost everyone agrees with that.

The MLS Works Better Than A Walled Garden:

If sellers believe the lie that says a “walled garden” is good for anyone but the broker and/or the broker’s shareholders, they are most often mistaken.

Limiting access to information tends to benefit the brokers looking to protect their inventory and to keep sales in-house to enhance their bottom line.

Major investors have been moving into the real estate and technology space for years. The line between transparency, advocacy and representation is easily blurred by the all-mighty dollar.

Our role should be to serve individual clients. If we limit listing exposure, we need to be honest about who that impacts most.

Expanding access to homeownership should always take priority. Any shift in our industry that moves in another direction is a hinderance to all.

The real estate industry should stay committed to transparency, full exposure, and to representing the interests of buyers and sellers.

Listing Exposure: The MLS Is Our Greatest Tool

As REALTORS®, our primary goal should be simple: We are fiduciaries. We should always look to represent the best interests of our clients. We place their interest above our own and certainly above the bottom lines of our firms or their investors. Lately, however, a shift in our industry appears to be threatening that core principle.

The rise of “private exclusives” and “walled garden” listing networks is being marketed as an innovation, but we must ask ourselves: Who does this actually serve?

Screw what’s best for the Seller, we want to make more money so we’ll wrap this in a lie that says it’s a good option for the public.

Managing Perception vs. Maximizing Outcomes

A seller’s best interest is almost always served by the widest possible exposure to the market. Limiting that exposure to a specific firm’s private network often serves the broker’s interest by keeping sales in-house and providing inventory for their own lead generation.

As real estate and technology spaces continue to merge, and major investors push for higher margins, we must protect the consumer. Our role is to ensure that broker profit does not replace the duty of representation.

Access Must Come First

Expanding access to homeownership should be a priority. Our integrity depends on our commitment to transparency and full market exposure. We cannot allow the progress we’ve made in creating an open market to be set back by decades in the name of “proprietary networks” or the like. Especially when said networks exist strictly as massive profit centers.

This is a moment for the real estate industry to stand together. We must lead in a way that keeps the door to homeownership open for everyone. We must ensure that the trust our clients place in us is never sacrificed for a firms financial gain.

In the real estate industry, open access to information should be paramount.

Should buying a home be a team sport?

The co-buying trend has become a popular way for people to purchase a home instead of renting.

Over the last several years, home prices and interest rates both rose to the point that home affordability has kept many people out of the game.

So, the question being asked by more and more people is…

Can Buying A Home Be A Team Sport?

In our opinion, the answer is yes. BUT, there are many factors that should be considered before you buy a home with a friend or relative.

There is a lot to unpack here, so let’s look at some of the reasons why many friends are pooling their money to become homeowners together.

Affordability and lifestyle are the two primary considerations.

Affordability: When prices continued to rise during our unprecedented run of low interest rates, people seemed to take that in stride. Once rates began to rise along with prices, more people started getting priced out of the market. For many, something had to give.

Combining funds to purchase a home is becoming much more popular today than it has been in the past.

Friends or relatives who have traditionally been roommates are deciding, in growing numbers, to purchase a home together.

Lifestyle: Some people are finding that pooling their funds allows them to have more space, or they can afford a more desireable neighborhood.

I am a firm believer in buying a home in an area that fits your lifestyle, if at all possible. To me, things like easy freeway access, great restaurants, quality schools, and recreation are very important.

Sharing expenses as homeowners:

When making a plan to become co-homeowners, it is a REALLY good idea to think it through before pulling the trigger. Consider your expenses including:

Mortgage payment
Property taxes
Homeowners insurance

Other categories include:

Home repairs
Home upgrades

Other monthly expenses:

Utilities – Does everyone pay equally? Even if someone likes it really warm or really cool in the home?
Household Food Items – Do you share everything? Should you have your own shelf in the fridge?

Are there more legal considerations when buying a home with a friend?

Will everyone be equal partners?

What happens if one party dies? Yeah, that isn’t always fun to think about. Does your interest convey to your “roommate” or do you want it to go to a family member?

Some of the terms you will come across will include Joint tenancy and tenancy in common. The type of ownership will need to be determined prior to taking title to a home with someone. For married couples, a very common way to take title to a home is “joint tenancy with rights of survivorship.” The typical thought there is for the home to automatically pass to the surviving spouse upon the death of the husband or wife.

For people purchasing a home with an unrelated party, it is relatively common to have their ownership interest go to a relative if they pass away. BUT, do you create an agreement that gives you the right to purchase that interest so that you don’t have some random new roommate?

You should obviously talk with a financial advisor and/or tax professional for guidance.

Should you have a joint bank account for repairs, expenses, etc?

Benefits and challenges can arise from co-homeownership. Have a plan. Please.

My Personal Experiences With Co-Buying A Home:

With the help of our father, my brother and I bought our first home on 8/8/88. We were 19 and 20 years old and purchased a small 2 bedroom, 1 bathroom home. We added another bedroom and bathroom on to the home and always had 1-2 additional roommates.

Purchasing that first home with my brother may have been one of the best financial decisions of my life. It was a GREAT experience that taught us a lot.

Just a few short years later, I purchased a 4-plex with a friend. Fortunately, we made some good decisions with that property and were able to turn it in to owning dozens of other properties before the age of 30. (homes, condos, multi-unit apartments)

I have been very fortunate to have had my experiences in co-ownership be positive personal and financial decisions.

While I can personally recommend purchasing a home with a friend, relative or business partner, I will also strongly caution against it in some circumstances.

Who Is Buying Homes With Friends?

These articles give some insight as to different types of people buying homes together.

These two best friends bought a home together in Austin. It seems that college roommates are a rapidly growing segment, for sure.

Owning my own home was always a dream of mine, and I feel so grateful that I’ve not only been able to accomplish that early in life, but also to have been able to do it with my very best friend – Madison White, Austin TX

Six friends in Toronto decided to pool their money.

But it started with one radical idea: that the benefits of cohabitating, combining their resources and skills, would lead to a far better standard of living than they could ever achieve on their own.

CNBC article about co-buying makes some good points, pro and con, illustrating multiple examples of people with different scenarios.

Co-buying is a trend that is here to stay and will continue to be a way for people to achieve the American dream of homeownership, Pendleton says.

So many scenarios. It is really interesting to see the types of people purchasing homes together.

Co-Purchasing A Home – So Many Decisions:

Please note: I don’t think it is always a good idea for everyone to buy a home with a friend. If done incorrectly or if unforseen circumstances arise, it could possibly end up being a nightmare.

So, are you ready to “swing for the fences” and make home ownership a team sport? Give us a call, we’d be glad to help coach you through it.

Human Connection and AI. Does that sound weird? Afterall, AI is this non-human “thing” that seemingly removes the human element from much of our lives. Right? Especially when we look at some of what we are seeing in the real estate industry.

I recently attended the annual (2025) Arizona REALTORS Trends Summit. Like in years past, it was valuable for all attendees. The theme this year was “The AI-Powered Experience” and it was fascinating. For beginners to advanced users of ai, it made you think.

The speakers were Jeff Turner and Phil Sexton. Two brilliant people who are using ai at a very high level. Both speakers are also VERY good at making human connections.

According to an “ai overview” from Gemini, Artificial Intelligence can be defined as follows.

Artificial Intelligence (AI) is technology enabling machines to mimic human cognitive functions like learning, reasoning, problem-solving, and perception

Mimic human cognitive functions? For some tasks, that can be awesome. For others, it is something we’ll need to keep an eye on.

“We win by staying human”

Staying Human with AI:

Real estate is an industry where we often see a lot of early adoption, and that is certainly the case with artificial intelligence. While some tasks and many jobs will be changed by this new gold rush of technology, I believe that people still want human guidance. At least for now…

Both presenters shared how far we have come with new products and talked about what is possible in the future. The point was made that technology is here but most of it isn’t being utilized. Why isn’t it being utilized? Because most are not ready for it yet. Yet…

It’s hilarious to see so many ads about ai geared to new agents. They basically say you can use their magic pill and people will start mailing you checks. Use these new products and make piles of cash from working a few minutes per day. Seriously, all you’ve got to do is make a few fancy videos and you’re set, yo.

I’m not 100% convinced that ai is a magic bullet, but I am 100% certain that is has, and will continue to change our industry and our lives..

Jeff and Phil shared links to many of the tools they use. I am using some and looking forward to playing around with others. If you want some of the links, just ket me know.

While I am enjoying some of these new tools, I do find some of them to be concerning. I’m sure I’ll share more about that in the future.

Create Better Experiences:

The topic of creating human experiences is one that I love. I have always felt that real estate is a people business. It’s relational, it can be emotional, it can be many different things to many different people.

Yes, we’re using it and enjoying some of the new tools. I think technology is great, but this old-timer thinks that human connections are still the best way to a successful life and a successful real estate career.

Sure, I could “live in a cloud” for the majority of the time. BUT, give me a beach or some mountain air with no phone reception once in a while. Heck, give me a client who has a flip phone or one who isn’t staring at their phone every two seconds. Those people exist, and I’m currently working with some of them right now.

When I went to lunch with Jeff and Phil after the conference yesterday, I told them how much I enjoyed their presentation. I also mentioned the client we have who is retired and lives a very happy life without being connected 24/7. Heck, if we “need” to reach him for a signature or to discuss a repair request, etc. it can, gasp, take a day or so to get a reply. Personally, I think it’s awesome. I’m pretty sure that Pete uses less ai in his life than we do, and I’m pretty sure he’s just fine with that.

True Connections – Years of Relationships:

The photo below was taken at the end of the conference. I am proud to call all of these real estate champions my friends. I have known all of them for many years, and I can always count on them for great conversations. Some of my favorite colleagues, for sure.

While I always love to attend presentations by Phil and Jeff, but the “hallway conversations” are what I cherish the most. It is similar to how I feel with Sasha, Patrick and Bart. They are salt of the earth, and I always smile when we’re together.

To me, this photo represents some of the best things about our industry. Smart people. Amazing assests to our industry. Great friends.

Those are the kinds of things that I will always enjoy. If AI ever replaces that, I’ll be looking for a different gig.

L to R: Phil Sexton, Sasha Lopez, D. Patrick Lewis, Jeff Turner, Bart Haiduk, Nick Bastian

BIG thanks to Barb Freestone and everyone at AAR who helps bring these conferences to their members. We appreciate these connections and all of the work you do.

While I will never publicly discuss all of the details as I know / believe  them to be, I feel a desire to address some of my thoughts.

None Of Us Asked:

Currently, Realty Executives Phoenix / Yuma was said to have roughly 600ish agents. I was proud to be one of those agents. On June 30th, all of us were notified that the owners had failed to renew their franchise agreement with Realty Executives International. We were also told that we have 30 days to remain with the current owners and their staff at a new firm, or we can continue under the Realty Executives brand with a new, but existing, ownership group. (or join any other firm of our choosing)

None of us asked for these changes, they were forced upon us. As you can imagine, many of us desired to learn as much as possible before making such an important change. Unfortunately, it was difficult for most of us to get a lot of concrete information because of the existing franchise agreement. We were told that the current franchise agreement prohibited the current Phoenix/Yuma ownership group from discussing any future plans. (possible recruiting violations, etc.) Eventually, on July 30th, we were given information about the future plans of the current ownership group.

Change is Constant

While change is constant, some things always remain the same. Adversity and challenges are something that we all deal with regularly. Anyone familiar with the real estate industry knows that, and most of us learn to handle it well.

When this kind of change happens, it effects people in many different ways. For some, the decision can be easy. For others, the decision can be rather difficult.

Rumors and Innuendo – No Need For That Crap

Unfortunately, it can be common for rumors and innuendo to start during any kind of major “breakup” like this. Now isn’t the time or place for those things. Each of us are responsible for doing what we feel is best for our business. That certainly does not mean that a different decision someone else makes is wrong or bad. No, this wasn’t a hostile takeover with malicious intent. There was either a huge blunder or a calculated move that caused these changes. No matter the reasons, we will all move forward, hopefully without unnecessary drama. And, hopefully, there will be no bridges burned.

No doubt that most of us believe we are better when we work together and lift each other up. We should continue to do that. There is also no doubt that many of our paths will cross again. Personally, I look forward to that, as I have many good friends who will be at each firm. I know that most of us will handle this like adults.

For The Nick Bastian Team:

I have now been licensed with Realty Executives for more than half of my 33 year career. I love what this brand stands for, and I love that they allow me to run my business as I wish. This is where I have long-planned to finish my career. After weighing all of our options, I have decided that staying with Realty Executives is the best decision for me and for our team.

During my career, I have always known that I like to surround myself with great people.  I do that in my business and in my personal life. I’ve  been blessed to be surrounded by some amazing individuals during my time here at Realty Executives Phoenix. I am very thankful for many of the relationships I have made in this industry, here at Realty Executives and at other firms. Growing and maintaining these relationships will always be a huge part of what I do. I truly wish we could still be with many of the people who remain with my former ownership group.

Going forward, our phone number is the same. Our website is the same. Our dedication and work ethic certainly remain the same. None of our clients will see any noticeable changes to files or service now or in the future. For our team, we remain 100% committed to our clients, just like we have always been. THAT will never change.

To Patrick Lewis:

You are an amazing broker and a shining star in this industry. A beacon upon a hill. I have no doubt that your rising star will continue to be noticed by more and more people in this industry. Your name should be firmly planted on any Inman-type of “most influential” lists for our industry.

I appreciate your guidance and friendship, your passion for people, your leadership and your knowledge of the industry. Yes, I will always be a fan, and I look forward to finding ways to collaborate with you in the future.

I also look forward to visiting more hole-in-the-wall taco shops and that cool little Italian spot where your name may as well be Norm.

Everyone knows that you will continue to do great things. I don’t know of anyone who isn’t cheering for your success.

Moving Forward with Realty Executives or Fathom Realty

No matter what, each agent who worked with the Realty Executives Phoenix and Yuma franchise was forced to make a change by August 1st, 2025. Honestly, I don’t think there is a right or wrong answer for anyone involved. The choices will be made by each agent deciding what they feel best fits their needs and business plan. I will have friends who chose differently than I have, and I sincerely hope to continue to have great relationships with each and every one of them.

Fathom Realty Elite is the name of the new firm where some of my former colleagues will be licensed. I am sure they will have much success for many years to come.

Realty Executives Arizona Territory is my home, and I am happy to be teaming up with even more professionals under this well-established brand. I have always loved what Realty Executives stands for. Professionalism, Integrity, etc. I believe it is a great brand and I love working with professionals who are given the tools we need to be the best in the business.

We have some amazing history here and the future is bright. Cheers to a bright future and continued success for us all.

Our new office address is:

The Nick Bastian Team
4343 E Outlier Blvd
Suite #123
Phoenix, AZ 85008

According to multiple reports, Avnet has purchased the former GoDaddy offices located at Price and Warner in South Tempe.

Avnet will take over the 150,000 square foot office building begining in mid- 2026 according to an AZ Big Media article.

With plans to move their corporate headquarters to the ASU Research Park, Avnet joins other major players coming to the South Tempe sub-market.

Is Avnet Moving To South Tempe Good For Their Employees?

This new building sure sounds like a great fit for any employee to call their new home.

The building offers a wide range of onsite and nearby amenities. Notable outdoor features include pickleball courts, a skate park, basketball and volleyball courts, and soccer field. Interior amenities include a full-service kitchen, conference and training rooms, and numerous huddle rooms, as well as a full gym, locker rooms and shower facilities, yoga room, and game center.  – Per AZ Big Media

Here are a few photos of the new headquarters and some of the outdoor amenities mentioned above.

The building was formerly a corporate hub for GoDaddy. If you have ever visited, you might recall a large indoor slide, as well. I remember when they opened, the amenities were well received by their employees.

Earlier this year a major CHIPS and Science Act announcement was made. This announcement shared the news of a major national semiconductor R&D facility coming the the ASU Research Park. This development is expected to bring hundreds of jobs and billions of dollars in investment to the area.

Local Options Available For Avnet Employees:

We don’t have any information yet about how many employees will call the new offices home. What we do know is that many local businesses will welcome them with open arms. We believe that Avnet moving to South Tempe will be a win-win for local businesses and Avnet employees.

For people new to the area, we’re happy to share some of our favorite spots for breakfast, lunch, happy hour or dinner!

The closest restaurants will be at McClintock and Warner. Fortunately, some awesome choices can be found at this intersection just a mile from Avnet. Some favorites there include: Maskadores Taco Shop, Freely Taproom, Feta Cowboy, Bar Capri, RigaTony’s and several others.

Other area favorites are close by, as well. Postino, Ghost Ranch, Word of Mouth Grill, Vincitorio’s, Crepe Bar, and The Peppermill are some more of my favorites.

Many Housing Choices Available For Avnet Employees:

Being located just off of the 101 freeway makes these new digs easy to get to and from many parts of town. This Price and Warner location is part of the South Tempe community but also close to Mesa and West Chandler.

For any employees who might be looking to move close to work, many options are available nearby. While the luxury market in South Tempe is very strong, many other great neighborhoods exist in the area.

Since the new Avnet location is located in the popular 85284 zip code, we’ll share some info about a few prominent neighborhoods close by.

Corona Del Sol Estates: Such a cool neighborhood just about a mile away
Circle G Ranches: Beautiful custom homes with many multi-million dollar properties.
Estate La Colina: A really nice community near McClintock and Warner.
Alta Mirada: Area townhomes that always seen to be in demand.
Warner Estates: Very impressive custom homes on large lots!
Buena Vista Ranchos: Giddy up, y’all! A very special community with horse privileges. Don’t miss it!

That’s just a small sample of some of the neighborhoods located nearby.

More samples of homes for sale in the 85284 zip code are as follows:

85284 Homes Near Avnet

32 Listings

$560,000 9143 S GRANDVIEW Drive
Tempe, AZ 85284 Listing office: Russ Lyon Sotheby's International Realty

$2,325,000 9310 S BALA Drive
Tempe, AZ 85284 Listing office: Keller Williams Realty Phoenix

$1,066,000 8415 S Kachina Dr Drive
Tempe, AZ 85284 Listing office: West USA Realty

$549,800 8859 S GRANDVIEW Drive
Tempe, AZ 85284 Listing office: Venture REI, LLC

$2,449,800 2173 E LA VIEVE Lane
Tempe, AZ 85284 Listing office: Venture REI, LLC

$1,095,000 758 E SUNBURST Lane
Tempe, AZ 85284 Listing office: Keller Williams Integrity First

$549,900 1053 W MYRNA Lane
Tempe, AZ 85284 Listing office: West USA Realty

$895,000 8421 S KENWOOD Lane
Tempe, AZ 85284 Listing office: Home Base Realty

$979,900 790 E SUNBURST Lane
Tempe, AZ 85284 Listing office: Your Home Sold Guaranteed Realty

$820,000 563 E KRISTA Way
Tempe, AZ 85284 Listing office: West USA Realty

$1,675,000 1101 E WARNER Road 117
Tempe, AZ 85284 Listing office: My Home Group Real Estate

$725,000 1335 E SUNBURST Lane
Tempe, AZ 85284 Listing office: Natl Asset Management Network

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If you would like more information about this area, please feel free to contact local real estate expert, Nick Bastian. Nick can be reached at 602-803-6425.

The Arizona State University (ASU) Research Park in Tempe will be the site of a new national semiconductor research and development facility, marking a significant advancement for both the local area and the broader region.

With this announcement, Arizona State University’s Research Park is about to become a major hub for semiconductor innovation.

This project, backed by the CHIPS and Science Act, will establish a leading-edge prototyping and advanced packaging research and development center.

This means it will be a place where new ways of building and connecting semiconductor chips will be developed and tested.

This exciting development is expected to bring hundreds of new jobs to the area and attract billions of dollars in investment, significantly boosting the economy of South Tempe and the entire region. The new development will be located near the ASU MacroTechnology Works building that is already operational at the ASU Research Park.

ASU is now at the forefront of semiconductor technology, solidifying the state’s growing reputation in this huge industry!

Location and Purpose:

ASU Research Park: The facility will be located in Tempe, Arizona, adjacent to ASU’s MacroTechnology Works building.

• Purpose: It will serve as a flagship for semiconductor advanced packaging, focusing on research, development, and prototyping. This is part of the CHIPS for America initiative, aimed at strengthening the U.S. semiconductor supply chain and advancing cutting-edge technology. Economic Impact: Job Creation: The facility is expected to generate hundreds of new jobs, directly supporting local employment and economic growth. Investment: It will bring billions of dollars in investment, significantly boosting the economic landscape of South Tempe and Arizona.

Key Features:

• Research and Prototyping: It will be the first facility in the world to combine 300mm front-end semiconductor manufacturing with advanced packaging research, bridging the gap between lab research and full-scale production.

• Operational Timeline: The facility is anticipated to be operational by the fourth quarter of 2028.

Partnerships and Support:

• ASU’s Role: ASU will be a key partner in the construction, launch, and operations of the facility, promising new investments in faculty and educational technologies for semiconductor training.

• Government and Industry Backing: Supported by the CHIPS and Science Act, with endorsements from figures like ASU President Michael Crow, who highlighted this as one of the largest investments in national labs since the Manhattan Project.

Broader Implications:

This development positions Arizona as a global hub for semiconductor innovation, fostering a robust ecosystem that includes both research and commercial applications. It’s a testament to Arizona’s growing prominence in the tech sector, particularly in microelectronics, and will further enhance the state’s reputation in advanced manufacturing and innovation.

ASU Research Park – A Few More Facts:

Here is some info we have as of January of 2025:

• The Research Park was established in 1984 (property was previously an ASU experimental farm since 1956)
• 320 gross acres
• 236 net acres excluding rights of way, lakes and common areas
  • 5.46 acres remaining for development
• 26 completed buildings, consisting of 2.3M square feet
• 52 companies with approximately 6,000 employees
• Notable tenants include:
  • Iridium
  • Viasat
  • Applied Materials
  • Deca Technologies
  • ASU Macrotechnology Works
• The Research Park was selected in January 2025 to be the home of one of three flagship research and development facilities operated by the National Center for the Advancement of Semiconductor Technology
  • $1.1 Billion investment, primarily from CHIPS act
  • Natcast facility will locate here
  • Once complete, it will be the most advanced center for microelectronics Research and Design in the United States.

• ASU Research Park Economic Impact (per 2022 EDPC study):
  • • • Total revenues-to-date for the ASU Research Park are estimated $1.1 billion. This includes $37.9 million in construction related taxes and $1.1 billion in operating revenues.
      • Cumulatively, over the next 30 years, the ASU Research Park project is expected to generate an estimated $1.9 billion for the State, County and City of Tempe. ($123.5 million to Tempe)
      • Gross revenues from operations provide funding to ASU of over $6 million/year

   

ASU Reaearch Park – Another Spark For Area Growth

The ASU Research Park is located just west of the 101 Freeway between Elliot and Warner Roads. The dynamic part of town known as South Tempe has been seeing very strong demand for luxury homes for a long time now. Many of us believe there is still a lot of upside for luxury homes in the area.

People looking for non-cookie cutter homes that are not “right on top of each other” can find that here. The area has kind of been a “hidden gem” when it comes to custom homes.

Will South Tempe Incomes Continue To Climb?

South Tempe’s 85284 zip code was recently named one of the top 5 wealthiest zip codes in the valley. (2024) It makes sence that we see higher home prices in South Tempe as this number has grown. This location, location, location is being noticed and people seem to like what they see. We can’t blame them!

With many major employers and a location that is basically surrounded by freeways, it seems like the area has a lot of upside. New construction on infill lots has been brisk. Residential teardowns and major remodeling projects are happening all the time. Smart money over flashy money seems to be a way of life here, too.

With major job growth in semi conductors, insurance, banking and more, South Tempe is looking good to many people. Of course, most people around here love their small businesses, too!

The amount of “non chain” restaurants to try are plenty, and growing. Good schools, good restaurants, tons of parks, etc. all help make the area desireable, as well.

Homes Near the ASU Research Park:

Many types of homes can be found near the ASU Research Park. From fairly modest patio homes to large, multi-million dollar estates.

Some of our favorite neighborhoods near the ASU Research Park are places like:

Circle G Ranches: Custom homes with many multi-million dollar properties.
Estate La Colina: A really nice neighborhood near McClintock and Warner.
Alta Mirada: Some of our favorite townhomes in the area.
Warner Estates: More custom homes on large lots. An amazing community!
Buena Vista Ranchos: Giddy up, yall! This community has some great features. Don’t miss it!

That’s just a small sample of some of the neighborhoods located nearby.

If you would like more information about this dynamic area, please feel free contact local expert, Nick Bastian. Nick can be reached at 602-803-6425.

Homes Near ASU Research Park

32 Listings

$2,999,000 1001 E CAROLINE Lane
Tempe, AZ 85284 Listing office: Compass

$2,449,800 2173 E LA VIEVE Lane
Tempe, AZ 85284 Listing office: Venture REI, LLC

$2,399,000 2002 E CAROLINE Lane
Tempe, AZ 85284 Listing office: Jason Mitchell Real Estate

$2,325,000 9310 S BALA Drive
Tempe, AZ 85284 Listing office: Keller Williams Realty Phoenix

$1,675,000 1101 E WARNER Road 117
Tempe, AZ 85284 Listing office: My Home Group Real Estate

$1,095,000 758 E SUNBURST Lane
Tempe, AZ 85284 Listing office: Keller Williams Integrity First

$1,066,000 8415 S Kachina Dr Drive
Tempe, AZ 85284 Listing office: West USA Realty

$979,900 790 E SUNBURST Lane
Tempe, AZ 85284 Listing office: Your Home Sold Guaranteed Realty

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MLS IDX Listing Disclosure © 2026

Copyright 2026 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

If you choose to have a REALTOR® represent you in a home purchase after August of 2024, the answer would be yes.

If you are unfamiliar with the changes made to our industry in August of 2024, please feel free to give us a call, we’re happy to discuss the details. The National Association of REALTORS® has a ton of information at this link, as well.

Does Buyer Representation Matter?

We believe that homebuyer representation is very important. It’s what we do and a big part of why we love what we do.

For many people, buying a home is one of the largest financial and emotional decisions they will ever make. Having a professional in their corner is something they want and expect.

As a REALTOR®, I understand that navigating the complexities of the real estate market can be overwhelming. In today’s evolving real estate landscape, Buyer Broker Agreements are becoming increasingly common, offering greater transparency and protection for buyers like you. One of the tools I use to help my clients is a Buyer Broker Agreement. This agreement is designed to protect both of us and ensure a smooth and successful home-buying experience.

What is a Buyer Broker Agreement?

A Buyer Broker Agreement is a legally binding contract between you, the buyer, and a real estate agent, who will act on your behalf to help you find the perfect home. This agreement establishes a mutually beneficial relationship where the agent is fully committed to representing your best interests. It outlines the responsibilities of both parties, ensuring clarity and a shared understanding throughout the home-buying journey.

As of August 17, 2024, new requirements mandate the signing of this agreement before you even start viewing homes. This change emphasizes the importance of a clear understanding between you and your agent from the outset. Additionally, buyer’s agent commissions must now be negotiated upfront before signing the agreement. This ensures transparency and allows you to have a clear picture of the financial aspects of the agreement.

Why Should I Sign a Buyer Broker Agreement?

If you have questions about why you need to sign an agreement, read below for some key benefits:

Dedicated Representation:
When you sign a Buyer Broker Agreement, you will have dedicated representation from your real estate agent. This means that we will be legally obligated to prioritize your interests above all others, including our own. We will work on your behalf to help you find the right property, discuss financing options, negotiate the best possible price, and guide you through the entire home buying process.

Market Expertise:
As full-time real estate agents, we pride ourselves in knowing the local market. We work hard to provide you with valuable insights into property values, neighborhood trends, and potential investment opportunities. This expertise can save you time and money by helping you avoid costly mistakes. Not having the right agent on your side can cost you both.

Negotiation Power

Negotiations are very important. From price to terms to knowing the intricacies of the entire process, it’s all part of the game. Sometimes, you need to have ice in your veins. Sometimes, you need honey and rainbows. A skilled real estate agent is a valuable asset to buyers and sellers. We promise to effectively advocate for your interests and help you save time, money and unnecessary stress. We know how to navigate the complexities of offers, counteroffers, and closing costs, ensuring that you don’t make costly mistakes when purchasing your dream home.

Objective Advice:
Buying a home can be an emotional process. We are happy to provide an objective perspective and help you make informed decisions based on facts and market data. This valuable guidance can help you avoid emotional attachments that might hinder your chances of a successful purchase.

Reduced Stress:
The home-buying process can be stressful. It involves a lot of paperwork, very specific deadlines, and contractual complexities. We will be here to help guide you through each step of the process, from making an offer to closing the deal.

Setting Clear Expectations:
The Buyer Broker Agreement plays a crucial role in setting clear expectations from the beginning. It helps define the specific type of property you’re looking for, your budget, preferred neighborhoods, and other essential criteria. This ensures that our efforts are aligned with your needs and preferences. Beginning the process with a signed employment agreement will clearly outline our responsibilities and how we will be compensated. This transparency helps build trust and ensures that we are all on the same page.

Addressing Buyer Concerns

It’s natural to have questions or concerns about signing a Buyer Broker Agreement. Here are some common concerns and their answers:

What if I find a home on my own?
Even if you find a home without our help, we will still assist you with negotiations, paperwork, and closing the deal. You can rely on our expertise throughout the entire process. We can help you determine a fair offer price, navigate any counteroffers, and ensure that all necessary inspections and legal requirements are met. Remember, representation matters. Finding the home is a piece of the puzzle, not the entire puzzle.

Will I feel pressured to use a buyer agent?
We will always prioritize your needs and provide quality service. We will NEVER force you to work with us. The vast majority of our business is made up of referrals and past clients. They are people who already know and trust us. Our job is to make sure you trust us completely before we even start working for you. Building trust and a strong working relationship is essential to our mutual success.

Before you ever sign a buyer broker agreement, please take the time to find an agent who makes you feel comfortable and confident in their abilities.

Different Types of Buyer Broker Agreements

Buyer Broker Agreements can come in different forms, each with its own set of terms and conditions. Here are the most common types:

Exclusive Right-to-Represent Contracts:
This is the most common type of agreement. It means that you are committing to working exclusively with one broker and their agents to find and purchase a home. If you buy a home during the term of the agreement, the broker is entitled to a commission, regardless of who finds the property.

Nonexclusive Right-to-Represent Contracts:
This type of agreement allows you to work with other brokers, but the broker you sign with is entitled to a commission if they find the home you purchase.

We are happy to discuss your options for the different types of agreements and choose the one that best suits your needs and preferences.

Conclusion

A Buyer Broker Agreement is a valuable tool for you to begin your home buying process. I encourage you to reach out to us to learn more about how we can benefit you in your home search. Our promise is that you will have an experienced professional by your side, guiding you through the process and advocating for your best interests every step of the way. We adhere to a strict code of ethics and have extensive market knowledge to help you make informed decisions and achieve your homeownership goals. Plus, we might even have a little bit of fun along the way!

Give us a call at 602-803-6425. It will be our pleasure to serve you.

A lot of talk in the media has been falsely stating things like this CNN article that starts off with: “The 6% commission, a standard in home purchase transactions, is no more.”

The fact of the matter is this – There is no standard or set rate of commission.

Many media outlets ran with the story before getting or knowing all of the facts. Local and national media outlets along with government officials, decided that it was better for them to sell clicks over factual content.

The narrative that seemed to get the most clicks are headlines like this:

• “Real estate commissions are being slashed!”
• “Selling your house will now be less expensive!”
• “No more paying 6% to real estate agents!”

They were reacting to a “proposed” settlement that will basically do two things:

1. Prohibit an MLS system from publishing an amount of compensation paid to a Buyer’s Agent.
2. A Buyer’s Agent must have a written Buyer Broker Agreement (employment agreement) to tour homes with a REALTOR®

Facts Over Fallacy:

Here are a few facts.

1. Nothing has been “slashed” as far as commissions are concerned. Fees are still negotiated between Brokers, Sellers, and Buyers every day. Just like they have been for as long as I have been in this business.
2. Nothing has changed to require anyone to work for more or less money than they negotiate with their client.
3. Many people will pay 6% to sell a home. Many will also pay less, many will pay more. Nothing has changed as far as the ability of a broker to charge what they feel is right for their business. IF a home Seller or a home Buyer does not agree with that fee, they are not forced to pay it. They can simply choose to work with someone else.

Some Interesting Reading about Real Estate Commissions:

I thought this “Beyond The Headlines” article made some really good points.

This article says “NAR Settlement May Lead To More Complex Deals” and mentions that additional and unnecessary burdens may be placed on buyers. First time homebuyers and VA buyers will be burdened more than others if the DOJ has their way.

An interesting take here says: Northwest MLS criticizes DOJ commissions stance. They make some good points.

Housingwire has chimed in with some information about buyer’s agency. Not everyone thinks it’s a good idea for a buyer to be unrepresented. Some home buyers could be put at a disadvantage if they can not afford representation. The Department of “justice” really should look closely at this.

Reminding People of the Truth:

Standardized Forms – Not Standardized Real Estate Commissions:

In Arizona, our standardized forms are put out by the Arizona Association of REALTORS®.  These forms are reviewed by real estate experts and real estate attorneys. They are also protected by Copyright. NONE of our forms mentions any kind of set fee.

As you can see on this photo, there is a compensation section. The compensation clearly explains how the Owner of the home will compensate the real estate Broker. Lines 30-31 are very clear. The bold letters read:

“Compensation for the sale or rental of the Premises is not set by any Association/Board of REALTORS® or by any Multiple Listing Service.

Line 39 is filled out once the homeowner and the listing agent / broker agree upon a fee. *Please note: The form above could change in the future. It is part of our current listing agreement.

The Buyer-Broker Exclusive Employment Agreement also states that commissions are not set by any board or association.

State and National Associations Chime In

Our own Arizona Association of REALTORS® mentions some key points about real estate commissions, as well. Here are a few of them.

● There is no such thing as a standard commission. Each transaction and agent-client relationship is different. Compensation has always been negotiable between agents and their clients and takes many forms such as a percentage, fixed rate, hourly rate, or any other mutually agreed upon arrangement. In Arizona, consumers are fortunate to be able to choose from a number of different business models offered by real estate professionals.

● Cooperative compensation benefits consumers. Sellers use it to attract buyers, which ultimately increases the number of offers they receive, resulting in a higher sales price. And we know that buyers benefit from professional representation in what for many will be the largest and most complex purchase of their lives.

● Even after these new rules go into effect, listing brokers and sellers can continue to offer compensation for buyer broker services, just not communicated via the MLS.

● The settlement provides that MLS participants working with buyers must enter into written representation agreements with those buyers. REALTOR® associations have long encouraged their members to use these written agreements because they help consumers understand exactly what services will be provided, and the cost of those services.

Just as our State Association is very clear in their messaging, our National Association provides this information concerning any set amount of real estate commissions.

“Following recent inaccuracies in media coverage, including the false representation or suggestion that the National Association of REALTORS® (NAR) requires a standard 6% commission, NAR has issued the following statement:

CHICAGO (March 19, 2024) – The National Association of REALTORS® (NAR) does not set commissions – they are negotiable. The rule that has been the subject of litigation requires only that listing brokers communicate an offer of compensation. That offer can be any amount, including zero. And other rules throughout the MLS Handbook and NAR policy expressly prohibit MLSs, associations, and brokers from setting or suggesting any such amount that should be included in that field.”

Why so many recent conversations about commissions?

On Friday, March 15th, 2024, the National Association of REALTORS® announced a “proposed settlement agreement” and began to put out information to Association members and the public.

I have included articles on this page that seem to be accurate along with some that are not. I will continue to do my best to objectively share my personal and professional beliefs concerning real estate commissions and the industry as a whole. Yes, I have been a REALTOR® for a long time. (since 1992) Sure, some may say that my opinion is biased. So be it.

So Now What?

As a REALTOR, my job is to represent the best interest of my client. Just like it has always been. That will never change. The fact that the DOJ now wants to eliminate how our MLS system can display how one brokerage will pay another won’t change that.

If YOU have any questions about how I work, please feel free to contact me any time. As always, I’m happy to “talk shop” with anyone who would like to do so.

Going forward, I believe most home sellers will continue to offer a co-broke to another agent / broker to help with the sale of their home. We will certainly explain to our home sellers that we believe it is in their best interest to do so. When working with home buyers, we will continue to go over their compensation options before we begin working together. If a Seller decides against offering compensation, we will continue to work with our home buyers under a separate fee agreement.

At the 11/20/2023 city council meeting, the most recent Tempe Accessory Dwelling Unit Code Update recommendations were shared with the public.

Prior to the meeting, the city sent postcards to residents, emails to neighborhood and HOA contacts and emails via a city newsletter. There is also an ADU info page on the Tempe.gov website.

After all of this outreach, we learned that many ADU questions remain. This was just one public meeting, and it’s clear that more meetings will be needed in the future.

What is an Accessory Dwelling Unit?

The definition given by the city is: An independent, seperately rentable dwelling unit located on the same lot with a stand-alone single-family home.

Sure, many think “rental” as in short term rental or mini hotel. Tempe probably doesn’t need a lot more of that. BUT, many other options remain. A long term, affordable rental could benefit you and benefit someone in need of a small, affordable home to lease.

Other uses could be: You may want or need a home for your elderly parents. Maybe you want to downsize but keep the “big” home for your young adult children and their family. What if you “need” a really cool  man cave or she shed? Maybe you work from home and want a real home office? SO many uses for an ADU.

What Did We Learn About ADUs in Tempe?

Like any city council meeting, the public was invited to participate with questions and comments. Certainly some members of the public need more information in order to have an intelligent conversation about ADUs.

I felt like the presentation was full of useful information. I appreciate that we heard from people both for and against allowing more ADUs in the city.

The anti-development folks were there to complain about special interest groups tearing the city apart. We also heard from people who want to preserve neighborhoods and fight for affordable housing.

When our councilmembers weighed in on the presentation, it was apparent they want more public input. We also learned that they will need more information to come to a consensus. But, the councilmembers genuinely seem to want to get this right.

Are Accessory Dwelling Units Good or Bad?

Back in 2019, there was a change to create more ADUs in parts of Tempe.  Ordinance 02019.08 was adopted 4/11/19. The plan made a change to allow ADUs on residential properties that were zoned multi-family. Some feared that this would ruin neighborhoods. The five permits that have been issued since 2019 have not caused major problems. I don’t think the other two in process will be different.

BUT, any reasonable person would have concerns over zoning changes without some type of regulation.

Going forward, many things need to be discussed. Short-term rentals, neighborhood characteristics, parking, deed restrictions, lot size requirements and private property rights all have to be taken into consideration. As Mayor Woods said: “We need to figure this out.”

Are Other Communities Allowing Accessory Dwelling Units?

Back in June of this year, the City of Phoenix made a change to their zoning ordinance. This change allows Accessory Dwelling units in residential districts.

California has also passed some aggressive ADU legislation recently. Places like Seattle and Oregon have also implemented similar strategies. To me, it seems irresponsible to allow people to sell ADUs like condos. It just opens up a LOT of potential problems. I believe these are great examples of how careful we need to be.

For now, it seems like Tempe is late to game in developing these kinds of solutions to the affordable housing battle. Time is ticking…

More Housing Needed in Tempe:

Most of us know that the demand for housing in Tempe won’t be going away in the future. ALL kinds of housing. In fact, Mayor Woods also mentioned that Tempe could see demand for another 70,000 residents in the next 10-12 years.

Aging in place is very common here in Tempe. Multiple councilmembers recognize that aging in place is an issue. In Tempe, we know that many people just don’t want to leave the city! We often see people sell a large home on a large lot and then buy a smaller home in the immediate area.

Affordability ranks high for people considering an Accessory Dwelling Unit. This article title Turning relatives into roommates makes some really good points.

Faced with ongoing housing affordability issues and rising childcare costs, we’re seeing parents and children becoming roommates again in later years as the ‘kids’ save up to purchase their own place, siblings moving near each other to pool childcare resources, and some even buying homes with family to split the financial burden and make homeownership a reality.

These discussions will continue, and I look forward to following along and participating. This is something that Tempe needs to look at very closely.

Thanks to the city for bringing this forward. Thanks also go out to all of the council members who have said they will actively participate in the discussions.

*Update: The City has added a “Frequently Asked Questions” section on their ADU webpage.