Mortgage And Real Estate News

Monday, July 18, 2016

Scottsdale pays $4M for desert home, lets seller stay rent-free for life

Scottsdale taxpayers will soon be the owners of a secluded home surrounded by the city's expansive McDowell Sonoran Preserve, but only one resident will have the ability to live there.

The Scottsdale City Council on July 5 unanimously approved a $4 million purchase of the five-acre property — more than $1.4 million above the city's appraised value — including a provision in the contract allowing the seller to remain there for the rest of his life.

Read more... http://www.azcentral.com/story/news/local/scottsdale/2016/07/18/scottsdale-pays-4m-desert-home-lets-seller-stay-rent-free-life/86981714/

Saturday, July 16, 2016

Gundlach in jeopardy of losing ‘Bond King’ crown

Bond King" Jeff Gundlach may be losing his fixed-income mojo! A recent Fortune.com article reports that the prominent bond guru, who founded DoubleLine Capital, is underperforming his peers and the benchmark Barclays Aggregate Bond Index.

The DoubleLine Total Return Bond Fund DBLTX, -0.09%  is among the bottom tier of comparable funds, according to recent ranking of bond funds compiled by Morningstar.

Read more... http://www.marketwatch.com/story/gundlach-in-jeopardy-of-losing-bond-king-crown-2016-07-15

Thursday, July 14, 2016

Germany Sells Bonds With Negative Yield at Auction

When it comes to bond yields in Europe, it seems there is no such thing as too low.

Germany on Wednesday became the first country in the eurozone to sell 10-year debt with a negative yield at an auction, effectively ensuring that investors lose money over the life of the bond.

Read more... http://mobile.nytimes.com/2016/07/14/business/dealbook/germany-bonds-negative-yield.html?_r=0&referer=http://lnkd.in/

Tuesday, July 12, 2016

MBA says Credit Tightened Again in June

Mortgage credit availability appeared to decrease again in June.  It was the fourth consecutive month the Mortgage Bankers Association's (MBA's) Mortgage Credit Availability Index (MCAI) has declined.  All four of the index's components pointed down, indicating that lending standards have tightened across the board.

Read more... http://www.mortgagenewsdaily.com/07112016_mba_mcai.asp

Sunday, July 10, 2016

These companies pay out more than they earn

Dividends are all the rage with investors. But some companies are so eager to hand them out, they're paying dividends that are even bigger than their profit.

There are 42 companies in the Standard & Poor's 500, including computer storage company Seagate Technology (STX), earth moving equipment maker Caterpillar (CAT) and energy pipeline company Kinder Morgan (KMI) that are digging really deep to keep investors happy with their dividends, according to a USA TODAY analysis of data from S&P Global Capital Markets. These companies have paid dividends the past 12 months that exceed their reported net income.

Read more... http://www.usatoday.com/story/money/markets/2016/07/07/these-companies-pay-out-more-than-they-earn/86778320/

Land, land everywhere in Phoenix but not a lot to build on

Metro Phoenix is running out of land — land ready for new homes, that is.

There are, of course, thousands and thousands of acres of vacant land in metro Phoenix. But as new-home sales continue to rebound in the Valley, the supply of lots prepped and ready for houses is shrinking to the lowest level in many years.

Read more... http://www.azcentral.com/story/money/real-estate/catherine-reagor/2016/07/07/land-land-everywhere-phoenix-but-not-lot-build/86773988/

When the neighborhood is owned by billion-dollar companies

APOPKA, Florida (AP) — Many of the single-family homes in the Piedmont Park neighborhood of Apopka, Florida, used to be owned by families — the Vargases and the Townes, the Pierces and the Riddles. Now, they're owned by Blackstone, American Homes 4 Rent and Colony Starwood Homes, companies associated with big real estate investment firms.

Read more... http://bigstory.ap.org/article/4dcd5c1491a3475187a1d6b339a8852a/when-neighborhood-owned-billion-dollar-companies

13 empty big-box store buildings in metro Phoenix

For the past three years, new and recovering retailers — and developers willing to take risks on adaptive-reuse projects — have slowly filled some of the Phoenix area's scores of vacant big-box store buildings.

The bad news? Tricky spaces still outnumber willing tenants by far, according to local real-estate firms, and the popularity of online shopping continues to drive physical retailers out of town.

Read more... http://www.azcentral.com/story/news/local/phoenix/2016/06/20/13-empty-big-box-store-buildings-metro-phoenix/85698836/

Tuesday, July 5, 2016

FHFA Adjusts Multifamily Lending Caps for Fannie Mae and Freddie Mac

​Washington, D.C. –   The Federal Housing Finance Agency (FHFA) today announced that it has increased the 2016 multifamily lending caps for Fannie Mae and Freddie Mac (the Enterprises) from $31 billion to $35 billion, effective immediately.

Read more... http://www.fhfa.gov/mobile/Pages/public-affairs-detail.aspx?PageName=FHFA-Adjusts-Multifamily-Lending-Caps-for-Fannie-Mae-and-Freddie-Mac.aspx

Monday, July 4, 2016

Brexit could be boon for Arizona homebuyers, owners

Britain's vote to exit from the European Union  hurt U.S. stock markets temporarily, but it could help homebuyers.

Both stock prices and U.S. interest rates started falling June 24, the day after Brexit.

Read more... http://www.azcentral.com/story/money/real-estate/catherine-reagor/2016/07/02/brexit-could-boon-arizona-homebuyers-owners/86533062/

Arizona companies capitalize on low-interest-rate wave

Like homeowners seeking to refinance a mortgage, several of Arizona's largest companies have made moves lately to capitalize on attractive interest rates. And with the Brexit vote possibly ushering in a stretch of even lower rates, corporate financial officers could be staying plenty busy.

Read more... http://www.azcentral.com/story/money/business/consumers/2016/06/30/arizona-companies-capitalize-low-interest-rate-wave/86450770/

Reuters: Business News

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