Mortgage And Real Estate News

Sunday, December 10, 2017

First-time Phoenix homebuyer duped out of $73K in real-estate scam

One click. One-tenth of a second later, $73,000 disappeared into the ether and two Phoenix home sales were derailed.

Read more... https://www.azcentral.com/story/news/local/arizona-investigations/2017/12/05/first-time-phoenix-homebuyer-duped-out-73-k-real-estate-scam/667391001/

With reform pending in Congress, now is the time to look at your taxes

Taxpayers who wait until the ink is dry on the sweeping Republican tax-reform plan could leave some money on the table.

Read more... https://www.azcentral.com/story/money/business/economy/2017/12/10/tax-reform-pending-congress-time-look-your-taxes/921033001/

Downtown Phoenix's Roosevelt Row is on a roll

Boarded-up buildings and weed-filled vacant lots were the norm in metro Phoenix's oldest historic neighborhood not too long ago.

Sunday, November 26, 2017

The CFPB now has two acting directors. And nobody knows which one should lead the federal agency

President Trump and the outgoing head of the Consumer Financial Protection Bureau both named acting directors to head the watchdog agency on Friday, throwing its leadership into disarray.

Read more... https://www.washingtonpost.com/news/business/wp/2017/11/24/the-cfpb-now-has-two-acting-directors-and-nobody-knows-which-one-should-lead-the-federal-agency/

Saturday, November 25, 2017

Home Sales Are Rising Despite Supply Woes

Existing-home sales in October rose to the strongest pace since earlier this summer, the National Association of REALTORS® reported Tuesday.

Read more... http://realtormag.realtor.org/daily-news/2017/11/21/home-sales-are-rising-despite-supply-woes?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+DailyRealEstateNews+%28Daily+Real+Estate+News%29&utm_content=FaceBook

Industrial sector shines in latest outlook for commercial real estate market

New sources of demand make the industrial segment the star of commercial real estate, according to Peter Muoio, ‎chief economist and head of research at Ten-X Commercial, the nation's leading online real estate marketplace.

Read more... https://www.bizjournals.com/bizjournals/news/2017/11/16/industrial-sector-shines-in-latest-outlook-for.html

Phoenix Landmark condo owners fight HOA assessments — and win

The bill arrived unexpectedly by email in May. It was from her Landmark Towers condominium homeowners association.

Read more... https://www.azcentral.com/story/news/local/arizona-investigations/2017/11/13/phoenix-landmark-condo-owners-win-fight-15000-hoa-assessments/830512001/

Arizona HOAs foreclosing on a record number of homeowners

Homeowners associations, the enforcers of neighborhood paint colors, holiday decorations and trash bins, are leading the latest surge in Phoenix-area foreclosures.

Read more... https://www.azcentral.com/story/news/local/arizona-investigations/2017/09/14/phoenix-area-homeowners-associations-foreclosing-record-number-homeowners/595816001/

Despite talk, there's no sign of metro Phoenix housing bubble

The dreaded term "housing bubble" has crept back into conversations about real-estate markets with big increases in home values, including metro Phoenix.

Read more... https://www.azcentral.com/story/money/real-estate/catherine-reagor/2017/11/24/despite-talk-there-is-no-sign-metro-phoenix-housing-bubble/889792001/

North Central Phoenix luxury apartment proposal sparks public clash

In north-central Phoenix, one of the Valley's hottest development corridors, a proposed apartment complex has sparked a classic clash between new development and old.

Read more... https://www.azcentral.com/story/news/local/phoenix/2017/11/25/proposed-north-central-phoenix-luxury-apartments-spark-neighborhood-clash/859218001/

Monday, November 20, 2017

With help from Bill Gates, Phoenix's growth shifting to far west

More than 300,000 new homes are planned on the far western edge of metro Phoenix, including in Belmont where billionaire Bill Gates has recently invested.

Read more... https://www.azcentral.com/story/money/real-estate/catherine-reagor/2017/11/17/metro-phoenix-growth-shifting-far-west-bill-gates/867873001/

Cool homes: Celebrate revival on Historic Roosevelt Neighborhood tour

Everybody loves a good makeover, right?

So get ready: Some of the most satisfying makeovers in Phoenix will be on display at the annual Historic Roosevelt Neighborhood home tour on Sunday, Nov. 19 — including the neighborhood itself.

Read more... https://www.azcentral.com/story/money/real-estate/cool-home/2017/11/14/cool-homes-celebrate-revival-historic-roosevelt-neighborhood-tour/827394001/

Sunday, November 12, 2017

Case-Shiller: U.S. home prices rose in August even as sales slipped

WASHINGTON — U.S. home prices rose sharply in August from a year ago, a trend that is thwarting many would-be buyers and potentially slowing sales.

Trump tax plan draws ire, but may boost metro Phoenix's housing market

President Donald Trump's proposed tax overhaul has raised protests from national home-builder and Realtor groups that believe it will slow home sales and harm housing markets.

Read more http://www.azcentral.com/story/money/real-estate/catherine-reagor/2017/11/09/trump-tax-reform-plan-may-boost-metro-phoenix-housing-market/845342001/

Wednesday, November 8, 2017

FHA losing customers rapidly as premiums spur refinancing

WASHINGTON — The Federal Housing Administration's financial health is benefiting from continued reductions in delinquencies and foreclosures, but the FHA is also losing some of its best customers at a fast clip.

Read more... https://www.nationalmortgagenews.com/news/fha-losing-customers-rapidly-as-premiums-spur-refinancing

Bill Gates makes $80 million land deal in far West Valley

One of the richest men in the world is about to make a big impression on Arizona. Bill Gates, the second richest man in the world behind amazon.com founder and CEO Jeff Bezos, paid almost $80 million for a huge chunk of property in the far West Valley, according to a report from Business & Real Estate Weekly of Arizona.

Read more... https://azbigmedia.com/bill-gates-makes-80-million-land-deal-in-far-west-valley/

Monday, November 6, 2017

OfferPad, loanDepot partner on Scottsdale-based home loan company

Gilbert-based real estate technology company OfferPad has partnered with loanDepot to launch a home loan company to make it easier for customers to buy and sell a home online.

Read more... https://www.bizjournals.com/phoenix/news/2017/11/05/offerpad-loandepot-partner-on-scottsdale-based.html
Best,
Lillian Wong
Sr. Loan Officer NMLS 630337
Fairway Independent Mortgage
9308 E Raintree Drive
Scottsdale AZ 85260
480.650.5412
www.lillianwong.net
lillian.wong@fairwaymc.com

You can become an investor in Phoenix-area apartments for as little as $1,000

Want to invest in a metro Phoenix apartment-building boom?

It could cost you as little as $1,000, about as much as a monthly rent payment.

Read more... http://www.azcentral.com/story/money/real-estate/catherine-reagor/2017/11/05/you-can-become-investor-phoenix-area-apartments-little-1-000/826330001/

Phoenix home flips up 16 percent as aggressive investors find bargains

Thursday, November 2, 2017

Tempe squatter loses another court ruling; city can eject him

A judge has ruled that Tempe has the right to eject a man who has claimed squatters' rights to a valuable piece of property near downtown that he claims has been in his family since the late 1800s.

Read more... http://www.azcentral.com/story/news/local/tempe/2017/11/01/judge-rules-tempe-has-right-evict-squatter-valuable-land-near-downtown/822418001/

Wednesday, November 1, 2017

'Tiny home' hub for homeless veterans breaks ground in Phoenix

A neglected dirt lot gave way to a symphony of scrapes as volunteers smoothed the concrete foundation Saturday for a tiny-house project intended to fulfill much grander goals. 

Read more... http://www.azcentral.com/story/news/local/phoenix/2017/08/19/construction-begins-tiny-home-hub-homeless-veterans-phoenix/582392001/

Thursday, October 26, 2017

Everything You Need to Know About Buying a House When You Work in Marijuana

Telling your family you work in marijuana can be an ordeal. There are the arched eyebrows, the disappointed faces, the furtive looks and sidelong glances followed by an entreaty as to whether or not you're holding. But this embarrassing ordeal isn't even close to the worst rite-of-passage for cannabis-industry workers.

Read more... https://hightimes.com/culture/everything-you-need-to-know-about-buying-a-house-when-you-work-in-marijuana/

Gundlach: Bond market moment of truth has arrived

Bond guru Jeffrey Gundlach has been sounding the alarm on a Treasury market selloff for some time now. On Tuesday, the CEO and founder of DoubleLine Capital took his warning to a whole new level, after the US 10-year yield crossed the 2.40% level, putting in its highest print since May.

Read more... https://www.google.com/amp/s/amp.businessinsider.com/bond-market-moment-of-truth-gundlach-2017-10#ampshare=http://www.businessinsider.com/bond-market-moment-of-truth-gundlach-2017-10

The different ways of jointly owning French property

There are a couple different ways to jointly own French properties. The first is known as "en indivision." This method is the rough equivalent to the English method known as, "owners in common."

Read more... http://www.francepropertymagazine.com/the-different-ways-of-jointly-owning-french-property/?utm_campaign=&utm_medium=&utm_content=icymi

Monday, October 23, 2017

How I Fit Costco In My Tiny House — Just Wahls

Two of the most asked questions about tiny living are:

"Is your fridge a dorm-room-sized one?" and

"Do you have to grocery shop everyday?".

Read more... http://www.justwahls.com/home/2017/8/4/how-i-fit-costco-in-my-tiny-house

Costco's Tiny House - Tiny House Blog

Ambershawn recently brought something interesting to my attention, Costco, the big box store, sells a tiny house. It is called the "HomePlace" guesthouse and is one of their many small structures. Costco builds tiny houses, play houses and garden sheds. Personally, I think the Bungalow Garden building would make a perfect tiny house, it ranges in size from 12ft X 16ft to 12ft X 24ft and the costs for what appears to be a shell range from $4,995 to $7,244.

Wednesday, October 11, 2017

Miami Real Estate Plays Central Role in Argentina Scandal

The Miami real estate market is playing a surprise central role in Argentina's political environment following reports that former President Cristina Fernández de Kirchner purchased more than 60 Miami properties using dubious funding.

http://nationalmortgageprofessional.com/news/64652/miami-real-estate-plays-central-role-argentina-scandal

Arizona Property with Alleged UFO Portals is Listed for $5M

An Arizona residence that has gained notoriety for allegedly housing two portals that extra-terrestrials use for visiting Earth is now on the market for $5 million.

Read more... http://nationalmortgageprofessional.com/news/64684/arizona-property-alleged-portals-listed

Tuesday, October 10, 2017

Sunday, October 1, 2017

2 million California homeowners live mortgage-free

Two million Californians are living a dream scenario for the American Dream: They own their home free and clear of a mortgage.

Read more... http://www.ocregister.com/2017/10/01/2-million-california-homeowners-live-mortgage-free/

Friday, July 28, 2017

Prescott home billed as world's tallest fails to sell at auction

A 124-foot-tall house in Prescott called the "world's tallest home" didn't sell at high-profile auction in late May. The house is back on the market for $1.45 million.

Read more... http://www.azcentral.com/story/money/real-estate/catherine-reagor/2017/07/27/prescott-home-falcon-nest-billed-worlds-tallest-fails-sell-auction/517291001/

Sunday, July 9, 2017

10 Mortgage Rules You Should Know by Heart

If you plan to buy a home and obtain a mortgage, either now or in the future, there are certain things you should know about how mortgage loans work. Specifically, here are 10 principles you should be aware of that can help you get the best deal on a mortgage, choose the best loan for you, and stay within a realistic budget.

Read more... https://www.google.com/amp/s/www.fool.com/amp/mortgages/2017/05/31/10-mortgage-rules-you-should-know-by-heart.aspx#ampshare=https://www.fool.com/mortgages/2017/05/31/10-mortgage-rules-you-should-know-by-heart.aspx

Wednesday, June 28, 2017

Robots are preparing to fill 200,000 vacant construction jobs

Automation has long been considered the harbinger of future unemployment, and experts have predicted that the widespread adoption of artificially intelligent (AI) software and smart machines could lead to thousands or even millions of people losing their jobs.

Read more... http://www.businessinsider.com/automation-robots-fill-vacant-construction-jobs-2017-6

Tuesday, June 27, 2017

What to Do When a Tenant Files Bankruptcy

One of a landlord's biggest worries is having a tenant who stops paying rent. When that happens, if the tenant doesn't voluntarily move out, a landlord usually has to go through the eviction process to reclaim possession of the unit.

Read more... https://www.buildium.com/blog/tenant-bankruptcy/

Sunday, June 25, 2017

Ben Carson Just Made It Easier for Millennials to Buy Their First Homes

Ben Carson, the former presidential candidate known for his calm demeanor who was appointed by President Trump to be the Secretary of Housing and Urban Development, is trying to make it easier for millennials to purchase their first home.

Read more... http://nation.foxnews.com/2017/06/13/ben-carson-just-made-it-easier-millennials-buy-their-first-homes

Tuesday, June 20, 2017

8 ways the construction industry can rebuild itself for the 21st century

According to the US National Association of Homebuilders, 82% of construction companies consider their main concern to be a shortage of construction workers. Sure enough, figures show that the average age of the workforce is rising faster than ever: the UK Chartered Institute of Building reports that the number of workers over 60 is increasing faster, and the set under 30 decreasing faster, than any other set. 

Monday, June 12, 2017

Millennials and Baby Boomers drawn to Phoenix condo projects

Phoenix is in the midst of a condominium building boom. 

New high-rise developments are going up from downtown Phoenix northeast to Kierland near the Loop 101. New urban-style attached homes can be found from midtown and uptown to the Biltmore area and east to the Arcadia neighborhood. 


Read more... http://www.azcentral.com/story/news/local/phoenix/2017/06/06/millennials-and-baby-boomers-drawn-phoenix-condo-projects/364088001/

ATTOM: Home flipping loan volume hits 9-year high

Home flipping finance volume increased in the first quarter of 2017 to its highest point in nine years, according to ATTOM Data Solutions, a multi-sourced property database.

Read more... https://www.housingwire.com/articles/40367-attom-home-flipping-loan-volume-hits-9-year-high?utm_medium=email&utm_campaign=newsletter_courtesy_copy&utm_source=app

Tuesday, May 23, 2017

BofA opens debate on lowering mortgage down payments

(Reuters) - The head of Bank of America Corp (BAC.N), the United State's fourth-biggest mortgage lender, said on Thursday banks would be able to supply a bigger share of funding for home purchases if the standard down payment for buyers was cut to 10 percent from 20 percent.

Luxury homebuyers can get more home for the money in Peoria, West Valley

Deep-pocketed homebuyers looking for luxury homes have long turned to Paradise Valley, Scottsdale or Phoenix's Biltmore area. But in recent years, the West Valley has seen more homes sprout with desert views, big lots, exclusive amenities and price tags approaching $1 million.

Sunday, May 21, 2017

Can Zillow 'Uber-ize' the hundred-billion-dollar real estate brokerage?

Earlier this month, when Zillow announced a record high quarter, projecting to surpass a billion dollars in revenue by the end of this year, many wondered whether the company, with its 75 percent online real estate audience market share and 171 million monthly users, can "Uber-ize" real estate agents, cutting out traditional brick-and-mortar brokerage middlemen in the same way Uber bypassed taxi dispatchers.

31-story, $100M apartment tower planned for downtown Phoenix

Saturday, May 20, 2017

How a slab of Chandler asphalt ended up owing $90K in back taxes

Sometimes mysteries arise from the quiet cubicles of the Maricopa County Assessor's Office, giving real-estate analysts a chance to practice Sherlock Holmes-like sleuthing.

Developer buys Mesa's Fiesta Mall, plans makeover into health, education campus

Fiesta Mall in Mesa, once a giant in the southeast Valley shopping scene, has been sold to a duo of developers who plan to transform the withering mall into a campus focused on health and education.

VA loans up 100 percent in Phoenix area as veterans settle down, buy homes

The many men and women who fight for our country must move often and be far away from loved ones for long stretches.

Reuters: Business News

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