Mortgage And Real Estate News

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.

Wednesday, May 10, 2017

Tesla’s Solar Roof Pricing Is Cheap Enough to Catch Fire

Tesla Inc. has begun taking orders for its remarkable solar roof tiles to be delivered by summer at a price point that could be transformative for the U.S. solar market. 

Monday, May 8, 2017

Leading Index for Commercial Real Estate Decreases in April

Note: This index is a leading indicator for new non-residential Commercial Real Estate (CRE) investment, except manufacturing. 

Million-dollar home sales climb in metro Phoenix

Baseball hall of famers George Brett and Ryne Sandberg, PGA golfer Pat Perez, NFL defensive end Jared Allen, as well as hundreds of company executives, lawyers and doctors have bought and sold million-dollar homes in metro Phoenix's poshest neighborhoods this year.  

Sunday, April 23, 2017

Saturday, April 8, 2017

HUD cuts: goodbye affordable housing in Arizona?

President Trump's proposed cuts to HUD will do away with the programs that have backed hundreds of affordable homes in Arizona. 

Real estate agent tries new location, location, location for home photos

Drone photo



About 15 years ago, after the Silviuses had moved into their ranch-style rural home near Walton, an aerial photographer knocked on the door and asked Eric Silvius if he’d be interested in a set of photos of their 8-acre spread, shot from above. Silvius thought it sounded like a neat idea and sprang for the pilot to make a fly-by. 



Read more...

Real estate agent tries new location, location, location for home photos

Saturday, April 1, 2017

CFPB Head Discusses Dodd-Frank

The Consumer Financial Protection Bureau recognizes the burden of regulatory compliance placed on today's financial organizations and is actively working to alleviate that weight, CFPB Director Richard Cordray conveyed during remarks at the Chamber of Commerce 11thAnnual Capital Markets Summit in Washington, D.C., on Thursday.

8 top takeaways from MBA Tech

Tech enthusiasts from across the mortgage industry descended upon Chicago this week for the Mortgage Bankers Association's annual tech conference. From blockchain to digital labor, here's a recap of the best moments and insights from the event.

Sunday, March 19, 2017

Frank Lloyd Wright-inspired homes going up in Cave Creek

Frank Lloyd Wright's impact on Arizona architecture goes on. A community going up on one of the last big developable parcels of land in Cave Creek has his influence all over it.

Friday, March 17, 2017

February’s permits for single-family homes peak

U.S. housing starts are on the upswing, despite a lackluster showing from apartment buildings.

Saturday, March 11, 2017

White House Weighs a $6 Billion Cut to HUD

The Trump administration reportedly is considering cuts at the Department of Housing and Urban Development of more than $6 billion, which could particularly hit public housing support programs hard, according to The Washington Post. 

Tuesday, February 28, 2017

Special Report: How Real Estate Agents Can Live Happily Ever After In Retirement

Real estate agents want their happily ever after: a post-career life with the stability that a bucket of money or residual income can bring. The road to a secure future isn't clearly marked in real estate, the paths at agents' disposal more like winding capillaries — a set of sprawled options realized through careful planning, the earlier the better.

Chinese investors dominate Asian overseas real estate investments in 2016 — CBRE

Chinese investors accounted for almost half of the $60 billion in investments in overseas real estate last year by Asian investors, up sharply from 28% of the $62.4 billion in 2015, according to an announcement Tuesday by real estate services and investment firm CBRE Group.

Gundlach expects US 10-year T-note yield to drop below 2.25 percent

Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Friday he expects the yield on the benchmark 10-year U.S. Treasury note to drop below 2.25 percent as global investors seek safety.

Thursday, February 9, 2017

Small homes overtaking McMansions as the best kind of investments

Small homes - even ones that measure less than 400 square feet - are becoming increasingly popular.

Read more... http://www.businessinsider.com/are-smaller-homes-valuable-2017-2

$400K could get you into a new, luxury condo in Scottsdale's Artesia

A stalled luxury condominium development on one of central Scottsdale's prime corners is being revived with a plan for 500 homes.

Ritz-Carlton project in Paradise Valley will cost $2B, feature largest pool in North America

After long deliberation, the Ritz-Carlton, Paradise Valley has been approved to be built by Paradise Valley Town Council.

The property, under the management of Scottsdale's Five Star Development, is set to break ground in spring 2016 and to be finished by 2018.

Intel says it's investing $7B in Chandler facility, bringing 3K jobs

The seventh-biggest company in Arizona is about to get even bigger, with Intel Corp. announcing it will bring 3,000 more workers to Chandler.

Wednesday, February 1, 2017

Blackstone's Invitation Homes raises $1.54 billion in IPO

Invitation Homes, the largest U.S. home rental company, raised $1.54 billion in an initial public offering on Tuesday, the company said, setting the stage for a pick-up in IPO activity in 2017.

Monday, January 23, 2017

USMI Statement on FHA Mortgage Insurance Premium Reduction

WASHINGTON The Federal Housing Administration (FHA) announced today it will reduce its mortgage insurance premiums (MIPs) by 25 basis points. In November 2016, a HUD official stated there would be no additional MIPs cuts following its annual report to Congress on the financial status of its Mutual Mortgage Insurance Fund (MMIF), which showed it had finally reached its required capital levels after nearly a decade of severe stress. The following statement can be attributed to Lindsey Johnson, USMI President and Executive Director:

How the GOP's tax plan could affect the real-estate market

Until recently, the mortgage interest deduction was right up there with Social Security as a sacrosanct institution on Capitol Hill, protected by lawmakers on both sides of the aisle.

Show Down Brewing Between President Trump and Fed Chair Yellen

Trump wants a weaker dollar to help US industrial exports, precisely at the time when the dollar is strengthening due to tighter Fed monetary policy.  

Sunday, January 22, 2017

Trump and the dollar: what you need to know

President-elect Donald Trump got Wall Street's attention this week by saying the U.S. dollar is "too strong," warning that a soaring greenback has "disadvantages" for U.S. companies that do a lot of business abroad.

5 changes to watch for on Roosevelt Row in 2017

Roosevelt Row is a neighborhood in flux.

The downtown Phoenix arts district will change this year as new residents move in, a notable business moves out and construction starts on other projects. Some developments are causing community consternation; other people see opportunities in what's to come.


Sunday, January 15, 2017

New $100 Coin Features First-Ever African-American Lady Liberty

Lady Liberty is among the most enigmatic symbols of American democracy. Her qualities are well-known and widely revered: She's benevolent and represents freedom and hope. But what does she look like, anyway? In popular culture, she's almost always depicted in one way: as a white woman. Now, reports Lakshmi Gandhi for NBC News, the U.S. Mint announced historic plans to depict Liberty as an African-American woman on a new gold coin. The $100 coin will be introduced as part of the kickoff of the mint's 225th anniversary year and will be the first in a series that will also depict Liberty as Asian-American, Hispanic-American, and Indian-American.

Reuters: Business News

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