Juggling the mounds of paperwork tied to the home buying process could get easier this year for Arizona real estate agents, lenders, escrow officers, title companies and others in the industry.
This month, the Arizona Association of Realtors announced a joint effort with Texas-based Stewart Title Co. to provide a transaction management system to more than 5,000 brokerages across the state.
The system, called SureClose, allows real estate professionals to manage and share digital documents, including online contracts with electronic signatures, during a home sale or purchase. Those involved in the transaction have round-the-clock access to documents on a secure Web site.
Closed deals can also be indexed and archived for reference.
The association has been evaluating the use of transaction management for several years, including setting up a technology task force 18 months ago to size up platforms.
In commercial real estate, construction is under way on a new office development at Dobson and Pecos roads near Loop 202.
Scottsdale-based developer VP Commercial is building three high-end office buildings, which will have units available for sale and lease.
Office suites will range in size from 1,250 to 37,680 square feet.
The project, called The Presidio, sits near Chandler Regional Hospital and is being marketed as suited for medical office buildings.
It’s expected to be complete in about a month and is 28 percent pre-leased.
VP Commercial is also expected to break ground in the next couple of months on a 25-acre project that mixes office and retail space.
Located on the northeast corner of Crismon and Baseline roads in Mesa, Crismon Gateway will include 150,000 square feet of office space and 90,000 square feet of retail, including restaurants and shops.
The company plans to begin delivering space in the fourth quarter of this year.
THE ASPEN GROUP
Another Valley company is also moving forward on commercial projects.
The Aspen Group is planning a 62-acre mixed-use development in Gilbert called Roosevelt Square, one of several projects it plans to break ground on in the next two years.
Construction is also under way on a $100-million project of homes and shops in Flagstaff.
The real estate investment and development company recently moved its headquarters to Scottsdale.