Mortgage And Real Estate News

Saturday, October 31, 2015

In the Wake of Strong Cubs Season, Wrigleyville Teardown Lists for $9.8M

The Chicago Cubs have a special shine to them these days, and the longtime owner of a home near Wrigley Field hopes it rubs off on her property — to the tune of $9.8 million.

"The seller strongly feels that this is the price," said real estate agent Amy Duong Kim of Jameson Sotheby's International Realty, who's marketing the listing as about 536 feet from home plate.


Friday, October 30, 2015

Book review: 'Shaky Ground' exposes zombie side of Freddie, Fannie

The two finance the bulk of U.S. home loans, using money borrowed from around the globe. That makes them a mainstay of America's $10 trillion housing market and of the national and world economies. If Fannie and Freddie tank, it could all tank. But whether they should be run wholly as federal agencies, or partially or not at all has been debated for decades, especially since the Great Recession. The issue's always half-alive because it's key to the financial well-being of so many, but always half-dead because special interests ensure no one has the political stomach or clout to resolve it.


RealtyTrac report finds Tampa a hotbed for home flipping - Tampa Bay Business Journal

In the market to flip some homes? Tampa's a great place to be for that.

A new report from RealtyTrac found that among 101 markets with at least 75 single family and condo flips in the third quarter of 2015, Tampa had the fourth-highest share of home flipping, equaling about 9 percent of sales.


Sunday, October 18, 2015

A 'new' old home for Jerry Brown -- he's moving into the governor's mansion

After decades as a staid museum, California's Victorian-style governor's mansion will become a home again.

Gov. Jerry Brown, whose father occupied the home as governor in the 1960s, plans to leave his modern loft in downtown Sacramento and move into the newly refurbished, three-story house with his wife and two dogs in the coming months.


Tempe's 'Sin City' near ASU sees redevelopment boom

Aging apartment complexes, vacant lots and an old motel are giving way to sleek, modern housing in the latest surge of redevelopment along Tempe's light-rail corridor just east of Arizona State University.

The Tempe area some have dubbed "Sin City" has long been known for its loud parties, dense housing and higher crime rate, but now it's also a magnet for millions of dollars in private investment from major national developers.


Monday, October 12, 2015

Interest Rate Hike 2015: China Warns Against Federal Reserve Increase Because Of Critical Dollar

The United States shouldn't raise interest rates to avoid hurting developing nations dependent on the U.S. dollar, China's finance minister said. Lou Jiwei said the dollar remained critical to the global economy.

"The United States isn't at the point of raising interest rates yet, and under its global responsibilities, it can't raise rates," Lou said in an interview published in the China Business News Monday. He spoke during the annual meeting of the World Bank and International Monetary Fund in Lima, Peru.


Sunday, October 11, 2015

Builders want to move homes, meet goals as year ends

Think year-end sales are only important to auto dealers? Think again.

Plenty of successful companies want to reach fiscal goals by the end of the calendar year, and homebuilders aren't any different.


5 housing projects breaking ground in Phoenix neighborhoods

Cranes dot the downtown skyline as construction crews transform lots on nearly every major street. Housing projects run the gamut from apartments to townhouses, from the central city to the suburbs.


Why new slow-it-down mortgage rules may be a good thing

If you are looking for a house now, it's likely going to take a little longer to get a mortgage to buy it.

The expected delay is due to a new federal rule that's supposed to give consumers more protection when they are making one of their biggest financial decisions.

Last week, the "know before you owe" requirements went into effect. The biggest change for borrowers will be the three days they get to review all the final costs of their home loan before they sign.


Freddie Mac sells off $305 million in seriously delinquent mortgages

Freddie Mac announced late Friday that it sold $305 million in seriously delinquent loans from its mortgage investment portfolio.

The sale, which was initially announced last month, was completed via auction, with two pools containing 1,611 total loans being sold to a pair of buyers.

According to Freddie Mac, these loans have been delinquent for approximately two years, on average.


Saturday, October 10, 2015

Old Town Scottsdale to get new apartment complex

Old Town Scottsdale is about to get some additional living space.

A 134-unit apartment complex called the Standard is scheduled to be built next to the Hotel Valley Ho. The complex will have eight floor plans consisting of one- to three-bedroom apartments and penthouses. Sizes will range from 650 to 1,750 square feet.


Popular Tempe Marketplace mall sells for $367 million

Tempe Marketplace, the popular open-air mall near Arizona State University's main campus, sold today for $367 million. It is one of the priciest real-estate deals in Arizona history.

The 1.3 million-square-foot shopping center has dozens of stores and restaurants, including Nordstrom Rack, H&M and Dave and Buster's. The mall was sold in an unusual deal, with its developer Vestar being part of the groups buying and selling it.


Scottsdale apartments to open near Loop 101

Property management company P.B. Bell recently announced that a new apartment community called the View at Cascade is expected to open sometime in October. The 187-unit apartment complex is located just below Loop 101 in north Scottsdale and will offer one- and two-bedroom apartments.

According to the marketing company representing P.B. Bell, apartments will range from 757 to 1,657 square feet in size. The company also says that rent will run between $1,340 and $2,485 per month, though there's also one two-bedroom, two-bathroom penthouse that costs $4,405 per month. P.B. Bell is accepting applications.


Tuesday, October 6, 2015

Soho Scottsdale expects to break ground this fall

They say not to take your work home with you, but does that apply if your home and office are separated by a flight of stairs?

You might find that answer at Soho Scottsdale, where residents can work in their office on the first floor and relax in their residence upstairs.

The townhouse and condo project, with a mix of retail shops, restaurants and offices near Bell Road and 92nd Street — not far from WestWorld  — should break ground Nov 1.


Chandler set to open new downtown concert stage

Downtown Chandler will soon open its new concert stage, the Downtown Stage, which will serve as an area for concerts and community gatherings in the near future.

Chandler's newest venue was made possible by a partnership between both the city and the Downtown Chandler Community Partnership (DCCP). The partnership was created in 2014 in hopes to make improvements upon any construction or maintenance the stage may need.


5 things to know about the mid-decade census in the Phoenix area

Between now and Thanksgiving, residents of six Valley cities can expect a knock on their front door from an eager federal employee ready to ask questions about their family. Answering those questions could mean big bucks for a host of municipal services.

On Oct. 1, a mid-decade census began in Buckeye, Chandler, Gilbert, Goodyear, Peoria and Queen Creek and census workers set out to collect information about the residents of each household. Maricopa also is participating.

Read more....

Tempe squatters lose court fight for junkyard property downtown

A man whose family has squatted for more than a century on a patch of land in Tempe has lost his court battle to claim the increasingly valuable plot as his own.

Tempe, a judge ruled, has clear title to the land, which is both historic and an eyesore in the city's expanding and popular downtown area.


Ben Bernanke: More execs should have gone to jail for causing Great Recession

WASHINGTON — This season, Ben Bernanke was able to sit through an entire Nationals game.

During the financial meltdown in 2008, the then-chairman of the Federal Reserve would buy a lemonade and head to his seats two rows back from the Washington Nationals dugout, a respite from crisis. But often he would find himself huddling in the quiet of the stadium's first-aid station or an empty stairwell for consultations on his BlackBerry about whatever economic catastrophe was looming.


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