Related articles:

Real Estate by Christie Smythe: Housing-reform law offers hope

Other articles by Christie Smythe:

Christie Smythe: Former 'Ugly house' franchise settles suitTucson firm accused of 'deceptive tactics' in foreclosure rescuesLocal builder Pathway files for Chapter 7 bankruptcyTucson's Pathway Developments files for bankruptcy liquidationArizona mortgage failures fuel crisisShovels poised at South Side shopping centerReal Estate by Christie Smythe: Housing slide cuts antique door salesTucson office market in cooldownTucson's median home price plunges by 7.5 percentPhoenix-area lender to add Tucson firm

Education
Rio Salado College
Online Instructors Health Care
CATALINA POINTE ARTHRITIS RHEUMATOLOGY
LPN/MA Retail
TOTAL WINE & MORE
WINE TEAM MEMBERS, CASHIER & STOCK MEMEBERS Trades/Construction
Mechanical Systems, Inc.
Plumbing Suprintendent General
SMALL WORLD
TEACHERS, ASSISTANT DIRECTOR Health Care
Godwin Corp
Physician Assistant Services
Post Office

There is some happy news on the slow-housing-market front.

About half of the 22 Arizona Title Agency employees who suddenly lost their jobs last week when the agency closed have found a new employer.

Stewart Title & Trust of Tucson made offers to most of the Arizona Title staff members and, as of Monday, hired 11 of them.

John Rafferty, CEO of Stewart Title, said he was pleased to have the chance to hire the workers.

"They have good reputations, and that's what I'm interested in," he said.

Arizona Title Agency was abruptly closed last Tuesday night by its Colorado-based parent, Mercury Cos. Inc. The employees were left without July paychecks or health insurance, said Lenny Robles, former Arizona Title Agency senior vice president in charge of Tucson operations.

Title companies around Tucson have been consolidating or closing offices over the past two years as the market slowed. Fidelity National Title Insurance Co. has closed four Tucson offices since the peak of the market, about two years ago. Arizona Title also had downsized its number of Tucson offices from four to two before closing altogether.

Rafferty, who has been with Stewart Title for more than three decades, said the current market slowdown is as bad as any he's ever seen, but he is optimistic about the future.

"We'll get out of it," he said.

Robles, who is still looking for a job, helped direct his employees to Stewart Title and arranged for escrow funds held by his company to be transferred to First American Title to keep real estate transactions on track.

Slowdown hits industrial sites

Picor Commercial Real Estate Services released its midyear industrial-market study last week showing that vacancies in that sector are rising and rents are not expected to grow. But at an overall occupancy rate of 92.3 percent, the market is still near its historical high point, the report said.

Tenants undoubtedly will be happier, though. The report urged landlords to be "very aggressive in keeping existing tenants and attracting new tenants for existing vacancies."

"I think we have a more balanced market now than we've had in the past several years," said Rob Glaser, a Picor industrial specialist, noting that rents have been rising sharply in the past few years.

Because of less overbuilding, Tucson's market is in much better shape than those in Phoenix and some other areas, said Russ Hall, another industrial-market specialist for Picor.

Still, "when a tenant opportunity comes along, you work real hard to make that deal," he said.

Non-profit agency cleans up

Some neighborhoods throughout the state are starting to show the telltale signs of neglect as homeowners lose houses to foreclosure or find themselves unable to pay for lawn maintenance or homeowners association dues.

So for the past several months, a Phoenix-area nonprofit agency has been helping to clean up the mess.

Providing Resources in Developing Equity takes applications from homeowners or homeowners association boards for assistance in maintaining communities or common areas.

The group, which was launched by a property management company owner, has mostly focused on the Phoenix area so far, but it will take applications from people or associations all over the state, said Executive Administrator Robin Leane. People can reach PRIDE by calling 1-623-687-9030. The Web site is at www.providingpride.com.