Wednesday, October 31, 2012
Monday, October 29, 2012
Sunday, October 28, 2012
For the past five years, tens of thousands of homeowners have been frozen in place, unable to sell their homes for a profit. Read more: http://www.azcentral.com/business/realestate/articles/20121027phoenix-housing-market-rebound.html
Saturday, October 27, 2012
However, the threat of a lawsuit against the city by the owners of the David and Gladys Wright House remains as the city presses forward with an effort to designate the structure a historic property to stave off redevelopment on the site.
The Phoenix City Council will vote on the historic designation Nov. 7. Both the Phoenix Historic Preservation Commission and the city Planning Commission have recommended approval.
Read more: Owners scrap plan to raze Wright house
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Friday, October 26, 2012
A steady drop in distressed home sales may spell a better future for builders, Capital Economics analyst and property economist Paul Diggle says. Read more: http://www.dsnews.com/articles/lack-of-distressed-homes-makes-room-for-homebuilding-2012-10-25
Instead of finding clever ways to chase shadow inventory, Zillow has decided to make things easy for thrill-seeking homebuyers and investors who are trying to track down unlisted, invisible inventory. Read more: http://www.dsnews.com/articles/once-invisible-inventory-available-through-zillow-2012-10-25
Mortgage rates are sharply higher today, as global markets abandoned bond market holdings at the quickest pace of the week. When investors favor selling bonds vs buying, prices fall and yields--or interest rates--move higher. Even before the domestic trading session was underway, bond yields were much higher after Asian and European trading. This led to the secondary mortgage market starting the day off at the worst levels in over month. Read more: http://www.mortgagenewsdaily.com/consumer_rates/280644.aspxEastland Newport Slip-On Shoes (Google Affiliate Ad)
Wednesday, October 24, 2012
A jump in signed contracts to buy newly built homes in September brought volumes to the highest level since April of 2010, when the home buyer tax credit temporarily infused the housing market. Read more: http://m.cnbc.com/us_news/49533856
Monday, October 22, 2012
That's double the number of rentals considered normal in metro Phoenix in 2000, according to housing-market analysts.
Although it is too soon to gauge the impact of such a large increase in rental properties, the jump in investor-owned properties has the potential to change the character of neighborhoods, influence the options available to other homebuyers and ultimately alter the trajectory of the region's housing recovery.
Read more: Phoenix metro becomes virtual investor's housing market
Could you ask creditors if they'd remove such items, she wondered?
Read more: Your Money: Cleaning up your credit report
Saturday, October 20, 2012
In June, she found out that the David and Gladys Wright House -- a home her great-grandfather Frank Lloyd Wright built for his son -- was in jeopardy.
In the wrangling that has ensued, Wright-Levi has become a sympathetic figure to some as well as a lightning rod, blamed for not having the home designated a historic landmark when she and her two sisters inherited the property in 2008.
Read more: Wrights' heirs are heartsick over home
Hub On Campus will be home to over 630 residents in its 17-stories of residential space. There will be 25,000 square feet of retail space as well as 6,550 square feet of restaurant space on its first and second floors to total 19-stories in all.
“Construction is progressing smoothly and on schedule,” says Hub On Campus project manager Eric Grimm. “We are looking forward to the August 2013 opening.”
Read more: Hub On Campus, Tempe’s Newest Student Living High-Rise, Tops Off This Week - PR.com
The country's two biggest mortgage lenders, Wells Fargo and JPMorgan Chase, reported Friday that a surge in home lending pushed them to record profits.
JPMorgan CEO Jamie Dimon declared that the housing market "has turned the corner." Wells Fargo CEO John Stumpf said that "every quarter, we have more confidence."
Wells said it issued $139 billion in mortgages from July through September, compared with $89 billion in the same period last year. JPMorgan wrote $47 billion in mortgages, compared with $37 billion last year.
Wood Partners, a developer of multifamily residences, is in escrow to purchase the 5.65-acre parcel from Rural/Metro, said John Berry, a zoning attorney working for the developer. The property originally was occupied by a grocery store and later was renovated to house Rural/Metro's operations in 1996.
Scottsdale's median home price of $366,000 was up 1.67 percent from last August, according to the monthly report from the Arizona State University Center for Real Estate Theory and Practice.
Read more: Home prices up in northeast Valley
But the future of the resort, which closed in 2004, remains cloudy.
On Sept. 24, the Planning Commission recommended the special-use permit to the council, with more than 100 stipulations attached.
Read more: Resort redo outlook is still cloudy
Kevin Ransil, Arizona regional partner for JLB Partners, says the Residences at Camelback will complement the Arcadia area offering a needed high-quality housing alternative that is close to amenities at a "dynamic and vibrant" intersection.
Read more: 370-unit apartments proposed at major Arcadia intersection
Homeowners in the DC Ranch, McDowell Mountain Ranch and Via Linda Road communities-facilities districts will save an estimated $97 to $159 a year.
The pace of previously owned home sales slowed slightly in September, even as the long-battered housing market showed signs of a broader recovery. Read more: http://money.cnn.com/2012/10/19/real_estate/existing-home-sales/
Thursday, October 18, 2012
Unsure where our market is headed for 2013? Have questions related to lending? Interested in non-traditional markets? Arizona's elite title partners, Fidelity National Title Agency and Lawyers Title, present the Crystal Ball 2013 Real Estate Rebound. Read more: http://fntarizona.blogspot.com/2012/10/get-excited-crystal-ball-2013-real.html?m=1
Wednesday, October 17, 2012
The housing recovery blossomed in September, as the pace of home building surged to a four-year high, according to a government report issued Wednesday. Read more:
Friday, October 12, 2012
WASHINGTON - Stronger housing markets helped boost economic growth at the end of the summer in nearly every region of the United States, according to a Federal Reserve survey released Wednesday. Read more: http://www.azcentral.com/business/realestate/articles/2012/10/10/20121010housing-lifts-growth-most-us-regions.html?nclick_check=1
U.S. foreclosure filings dropped to a five-year low in September as fewer homes were on track to be seized by lenders. Read more: http://www.azcentral.com/business/realestate/articles/2012/10/11/20121011us-foreclosure-filings-hit-year-low-september.html?nclick_check=1
NEW YORK - The hot trend in banking now: Betting which one will be next to get sued. Read more: http://m.cbsnews.com/fullstory.rbml?catid=57530629&feed_id=999&videofeed=999
Tuesday, October 9, 2012
Monday, October 8, 2012
The Fed has told investors that it plans to keep short-term rates low for at least another three years. But it appears to be leaning toward setting a more specific target, according to minutes from the Fed's last policy meeting.
But the future of the resort, which closed in 2004, remains cloudy.
Last week, the Planning Commission recommended the special-use permit to the council, with more than 100 stipulations attached.
Read more: Mountain Shadows makeover plan still faces uncertainties
A plan should soon go before the City Council for review.
A group of landowners and city staff are working on a proposal to bring water and sewer infrastructure to the area, which the city strip-annexed decades ago, without financially burdening current residents.
Saturday, October 6, 2012
Construction jobs are on the rise again in metro Phoenix, thanks to the start of a recovery in homebuilding.New data show 6,300 new jobs in the building industry have been created during the past year, according to the Associated General Contractors of America. Read more: http://azc.cc/5DQ7vH
Thursday, October 4, 2012
Fannie Mae's latest National Housing Survey shows that more people than previously thought would prefer to own their own home than rent despite the changing landscape of the U.S. housing market. U.S. Census Bureau statistics show that 65% of Americans own their own homes, which hasn't changed much over the past year, and Fannie May's survey suggests that a majority of people who don't own their own homes are still interested in pursuing the American Dream. Read more: http://www.nuwireinvestor.com/articles/survey-shows-americans-prefer-homeownership-59904.aspx?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+nuwireinvestor%2Flatestnews+%28NuWire+Investor%3A+Latest+News%29&utm_content=FaceBook
Owners of an iconic east Phoenix house designed by famed architect Frank Lloyd Wright are threatening to sue the city, claiming its effort to designate the property as historic is illegal. Read more: http://www.azcentral.com/arizonarepublic/local/articles/2012/10/03/20121003historic-wright-home-owners-shock-meeting-lawsuit-threat.html
The issue: The income gap between the rich and everyone else is large and getting larger, while middle-class incomes stagnate. That's raised concerns that the nation's middle class isn't sharing in economic growth as it has in the past. And it sparked the Wall Street protests that spread to other cities in the country. Read more: http://www.azcentral.com/business/articles/20121004why-matters-income-inequality.html
Home prices and sales both were up slightly across metro Phoenix in August. The median price of an existing home inched up to $150,000 in August from $149,000 in July, according to the latest report from the W.P. Carey School of Business at Arizona State University, which was released Wednesday. Read more: http://www.azcentral.com/business/realestate/articles/2012/10/02/20121002metro-phoenix-home-prices-inch-up-august.html
WASHINGTON - -- A measure of U.S. home prices jumped 4.6 percent in August compared to a year ago, the largest year-over-year increase in more than six years. Read more: http://www.azcentral.com/business/realestate/articles/2012/10/02/20121002measure-us-home-prices-rises-by-most-years.html
Commercial delinquencies have posted substantial declines over the past two months, falling 21 decreased another 14 basis points in September, bringing the delinquency rate below 10 percent, just barely. Read more: http://www.dsnews.com/articles/cmbs-delinquency-rate-slips-below-10-trepp-2012-10-03
Foreclosure inventory continues to decline but remains more than eight times what it was in the decade prior to the housing crisis, according to the latest report from Lender Processing Services (LPS). Read more: http://www.dsnews.com/articles/foreclosures-decline-prepayments-surge-2012-10-03
Wednesday, October 3, 2012
The U.S. economy is looking more resilient, thanks in part to encouraging signs for the two most expensive purchases most Americans make: cars and homes. Read more: http://abcnews.go.com/m/story?id=17378834
Reuters: Business News
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