Mortgage And Real Estate News

Sunday, July 29, 2018

Phoenix gets $30M grant to remake Edison-Eastlake neighborhood east of downtown

Phoenix will receive a $30 million federal grant to drastically reshape a neighborhood just east of downtown, including demolishing and rebuilding three decrepit public-housing projects.

Read more... https://www.azcentral.com/story/news/local/phoenix/2018/07/20/edison-eastlake-neighborhood-phoenix-gets-30-million-hud-grant/804547002/

Phoenix, Scottsdale neighbors fight plans for Kierland high-rise

As land values rise in Phoenix area, mobile-home parks disappear

Sunday, July 22, 2018

Rosa Parks family house set for auction next week

PROVIDENCE, R.I. — 

The house where civil rights icon Rosa Parks sought refuge after fleeing the South amid death threats is scheduled for auction next week with a minimum bid of $1 million.


Read more... https://www.ajc.com/news/national/rosa-parks-family-house-set-for-auction-next-week/Z9pLLmvYakKrRA5voFPlVL/

Sunday, July 15, 2018

May 2018 Foot Traffic per NAR Research

Demand is unrelieved as supply shortages continue to impede home sales.

Every month SentriLock, LLC. provides NAR Research with data on the number of properties shown by a REALTOR®. Lockboxes made by SentriLock, LLC. are used in roughly a third of home showings across the nation. Foot traffic has a strong correlation with future contracts and home sales, so it can be viewed as a peek ahead at sales trends two to three months into the future. This infographic shows the latest index data along with trends and changes.


Read more... https://www.nar.realtor/research-and-statistics/research-reports/foot-traffic/infographic-may-2018-foot-traffic

Friday, July 13, 2018

Gilbert will auction off controversial town-owned land

Gilbert plans to auction off 138 acres of land nearly a decade after the town took heat for buying the property without a certified appraisal and at a price far above the going rate. 

Read more... https://www.azcentral.com/story/news/local/gilbert/2018/07/12/gilbert-auction-off-controversial-town-owned-land/772484002/

Saturday, July 7, 2018

She tried to make extra payments on her student loans, then almost lost thousands of dollars

After nearly two decades of student loan payments, Lisa Wickman saw the light. Her new fiance offered to help her put an end to the persistent debt. And so the elementary school teacher from Grand Blanc, Michigan, mailed a $7,000 check in February to Navient, one of the country's largest student-loan servicers.

Read more... https://www.cnbc.com/2018/07/05/she-tried-to-make-extra-payments-on-her-student-loans-she-almost-lost.html

Thursday, July 5, 2018

Top 10 Cities with Million-Dollar Homes

Homes costing over $1 million are not as common as one would think. But there are some cities that have more real estate costing a million dollars or more, according to a study by LendingTree, which ranked the top 50 cities by the share of homes valued over $1 million.

Read more... http://themreport.com/daily-dose/07-04-2018/top-10-cities-with-the-most-million-dollar-homes

Tuesday, July 3, 2018

How Long It Takes Your Credit Score to Recover from a Drastic Drop

How long does it take for your credit score to rebound from a "soft inquiry?" That's what Tiffany wants to know for this week's Money Monday:

Read more... https://twocents.lifehacker.com/how-long-it-takes-your-credit-score-to-recover-from-a-d-1827178418

Sunday, July 1, 2018

Phoenix City Council sells property on Central and Adams for hotel

The Future of Credit Risk Transfers - DSNews

Fannie Mae and Freddie Mac's credit risk transfer programs (CRT), initiated in 2013, are likely to experience declines due to rising interest rates and declining origination volumes, according to research from the Urban Institute. However, Laurie Goodman of the Urban Institute calls the programs "a huge success" and foresees potential growth "from outside GSE space" in the future.

Read more... https://dsnews.com/daily-dose/06-26-2018/future-credit-risk-transfers

Monday, June 25, 2018

3 Things Home Buyers Should Know About the New Lending Reform Law

On Thursday, President Donald Trump signed legislation rolling back some of the lending restrictions enacted in response to the housing boom and bust. While the new law doesn't entirely do away with those financial reforms, it does have some significant implications for home buyers.

Read more... https://www.realtor.com/news/real-estate-news/home-buyers-know-about-new-lending-reform-law/

5 Reasons People With Excellent Credit Scores Get Denied

You are proud of your credit score. Yet, when you apply for a credit card, you are denied. How can that happen? Despite what many of us believe, an excellent credit score is not a guarantee of acceptance. Here are five reasons why you could get declined, even if you have an excellent score.

Read more... https://www.forbes.com/sites/nickclements/2018/03/16/5-reasons-people-with-excellent-credit-scores-get-denied/

Saturday, June 23, 2018

How to Buy a Home in USA

Nothing says you're truly an American like owning a home. And just over half of all foreign-born households living in the U.S. own their own home.

Read more... https://www.houselogic.com/buy/first-time-home-buyer/how-to-buy-home-usa/

Friday, June 8, 2018

Brandywine Homes to Hold Grand Opening at Bradbury, a Gated Community in La Puente, Calif., on Saturday, June 9

LA PUENTE, Calif., June 07, 2018 (GLOBE NEWSWIRE) -- Brandywine Homes will hold a grand opening at Bradbury, a new infill community in La Puente offering 45 single-family detached homes on 3.87 acres, on Saturday, June 9. Interested home buyers are invited to view the model homes from 10am to 6pm.

"With easy access to all the urban amenities of Los Angeles and the serenity and safety of a gated community, Bradbury is the perfect choice for young professionals and families," said Dave Barisic, principal in charge of sales and marketing at Brandywine Homes, a pioneer of infill development in Southern California. "We're excited to show homebuyers these beautiful, timeless and low-maintenance new homes."

Bradbury is located at 747 Del Valle Avenue. The gated community, which includes a community recreation area, is offering two-story homes with three bedrooms and three bathrooms.

These stylish residences are designed with Spanish, Craftsman and Farmhouse architecture, and range in size from 1,843 to 2,087 square feet on 2,500-square-foot lots. The homes have great rooms, lofts, private yards, patios and two-car garages. The gourmet kitchens feature large islands with breakfast bars, and spacious master suites include large soaking tubs and walk-in closets.

La Puente, an up-and-coming city with a population of about 40,000, has very limited housing stock. The last new home housing tract was built almost 40 years ago, according to city officials. Close to Puente Hills Mall, Mt. San Antonio College, California State Polytechnic University, Pomona, the Dwight D. Eisenhower Golf Course and more, Bradbury offers convenient access to the 60, the 605 and the 10 freeways.

"Bradbury offers families a very rare opportunity to own a home in La Puente, which is consistently named one of California's safest places to live," Barisic said. "We don't expect these homes to stay on the market for long."

Interested homebuyers can receive more information about Bradbury here.

About Brandywine Homes
Brandywine Homes is a residential homebuilder based in Irvine, Calif., with over two decades of experience in developing challenging infill sites, revitalizing some of Southern California's oldest and most established neighborhoods. Founded in 1994, the family-owned and operated company has built or developed almost 60 small- and mid-sized infill communities totaling $1.1 billion in revenues. The company builds homes that respect and complement the heritage, values and architectural integrity of existing neighborhoods and the people who live there - making a positive contribution to the community. www.brandywine-homes.com. Social media: Facebook, Twitter, LinkedIn, YouTube and Brandywine Blog.


Thursday, June 7, 2018

Freddie Mac Announces the Issuance of a New Five-Year Reference Notes Security

MCLEAN, Va., June 07, 2018 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) announced today that it plans to issue a new five-year USD Reference Notes® security, CUSIP number 3137EAEN5, due on June 19, 2023. The issue will be priced on Friday, June 8, 2018, and will settle on Monday, June 11, 2018, at benchmark size.

The new five-year Reference Notes security will be offered via a syndicate of dealers headed by Nomura Securities International, Inc., TD Securities LLC and Wells Fargo Securities LLC.

This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac's Annual Report on Form 10-K for the year ended December 31, 2017, filed with the Securities and Exchange Commission (SEC) on February 15, 2018; all other reports Freddie Mac filed with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2017, excluding any information "furnished" to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information "furnished" to the SEC on Form 8-K.

Freddie Mac's press releases sometimes contain forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond the company's control. Management's expectations for the company's future necessarily involve a number of assumptions, judgments and estimates, and various factors could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements. These assumptions, judgments, estimates and factors are discussed in the company's Annual Report on Form 10-K for the year ended December 31, 2017, and its reports on Form 10-Q and Form 8-K, which are available on the Investor Relations page of the company's Web site at www.FreddieMac.com/investorsand the SEC's website at www.sec.gov. The company undertakes no obligation to update forward-looking statements it makes to reflect events or circumstances occurring after the date of this press release.

The financial and other information contained in the documents that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.

Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we've made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMacand Freddie Mac's blog FreddieMac.com/blog.


Monday, May 28, 2018

Fed's Dudley urges quick shift from scandal-hit Libor rate

World financial markets must continue to quickly and safely shift from the scandal-plagued Libor reference rate to alternatives including a U.S. option that was born just last month, a Federal Reserve official leading the transition said on Thursday.

Read more... https://www.reuters.com/article/us-usa-fed-dudley/feds-dudley-urges-quick-shift-from-scandal-hit-libor-rate-idUSKCN1IP150

Monday, May 21, 2018

Buying a rental property: One landlord's advice to potential owners

"Location, location, location" might be the mantra when selecting a promising house or condominium in which to live. But when it comes to purchasing rental homes, other factors also weigh heavily, according to one Phoenix landlord with different types of properties in Las Vegas.

Read more.... https://www.azcentral.com/story/money/real-estate/2018/05/21/buying-rental-property-landlords-jeremy-kisner-advice-potential-owners/617691002/

Sunday, May 20, 2018

Blackstone’s Canadian housing cousin says rentals just heating up

Last quarter, Tricon Capital Group Inc. used proprietary software to scrape 100,000 house listings in the U.S. Sunbelt states. It put offers on 1,500 and ended up buying about 400. This quarter, the Canadian firm expects to buy up to 600 more

Read more... https://www.bnnbloomberg.ca/blackstone-s-canada-housing-cousin-says-rentals-just-heating-up-1.1077782

Saturday, May 19, 2018

Yun: What’s Holding Back Real Estate Sales

Short-term and longer-term predictions about real estate markets along with a substantive give-and-take about the proposed association dues increase were among the lively topics at the 2018 REALTORS® Legislative Meetings & Trade Expo on Thursday.

Read more... http://realtormag.realtor.org/daily-news/2018/05/18/yun-what-s-holding-back-real-estate-sales?utm_source=dlvr.it&utm_medium=twitter

Monday, May 7, 2018

Central Phoenix's Madison Grove Apartments sold for $21 million

A central Phoenix apartment complex fetched more than $21 million in a recent sale after the property had been renovated.

Read more... https://www.bizjournals.com/phoenix/news/2018/05/07/central-phoenix-apartments-sell-for-21-million.html

Saturday, May 5, 2018

Tuesday, April 24, 2018

What’s Restricting Home Affordability?

Home prices increased 2.9 percent in February 2018 according to the latest data from First American's Real Home Price Index (RHPI) that was released on Monday. The data revealed that homes became 5.1 percent more expensive compared to the same period last year, even as consumer house-buying power, how much one can buy based on changes in income and interest rates, declined 2.6 percent in February.

Read more... http://themreport.com/daily-dose/04-23-2018/whats-restricting-home-affordability

Saturday, April 21, 2018

Zillow to start buying and selling metro Phoenix homes

Valley homeowners know Zillow for its online valuations. People either love or hate Zestimates, depending on what it says about their own house. 

Read more... https://www.azcentral.com/story/money/real-estate/catherine-reagor/2018/04/21/zillow-start-buying-and-selling-metro-phoenix-homes/526146002/

Where Did Home Prices Rise the Most?

The one thing steady about the U.S. housing market post-Q1 is that it continues to be defined by a dynamic that almost sounds like it's stuck on repeat: historically low inventory is driving fewer sales and rising prices in most markets.

Read more... http://themreport.com/daily-dose/04-17-2018/where-did-home-prices-rise-the-most

How Blockchain is Bringing Technology Conversations Back in Lending

James Vinci joined Equator in 2010 and is the VP and Chief Technology Officer of the Equator business unit for Altisource. Vinci is also responsible for ensuring the successful performance of the company's business mission through development and advance preparation of the company's products and services. Vinci's role also includes foreseeing, company's service offerings as a web-based business, execution of the latest web-based technologies, and advance planning for future risks and growth. Prior to working at Equator, Vinci was President and Enterprise Architect at RedWire IT, SVP of Professional Services at Lydian Technology Group, and SVP of Professional Services at WellFound Decade Corp. He is a graduate of Columbia University.

Read more... http://themreport.com/daily-dose/04-17-2018/how-blockchains-bringing-technology-conversations-back-in-lending

Sunday, April 8, 2018

Where are the most expensive apartment communities in the Phoenix area?

High-income renters looking for prestigious places to stay will find their best opportunities in Scottsdale and Tempe, according to the 2018 edition of the Phoenix Business Journal's Exclusive Apartments list, which was published today.

Read more... https://www.bizjournals.com/phoenix/news/2018/04/06/these-are-the-most-exclusive-apartments-in-the.html

Glendale's Westgate Entertainment District up for sale

Glendale's Westgate Entertainment District is up for sale with an asking price of $142 million.

Read more... https://www.bizjournals.com/phoenix/news/2018/04/06/westgate-entertainment-district-up-for-sale.html

Cerberus Sfr Holdings is buying up hundreds of Phoenix-area homes

A single, well-financed buyer has purchased hundreds of lower-end Valley homes in recent months, buying up properties in one of the price ranges with the lowest stock.

Read more... https://www.bizjournals.com/phoenix/news/2018/04/07/single-investor-buying-up-affordable-homes-in.html

Sunday, March 11, 2018

Here's what faster inflation and rising mortgage rates mean for housing

As the March Federal Reserve (Fed) meeting approaches, overall positive economic conditions are troubling those who follow the Fed closely. Many might pose the question, why would positive economic conditions be troubling?

Read more... http://www.businessinsider.com/what-do-faster-inflation-and-rising-mortgage-rates-mean-for-housing-2018-3

Thursday, March 8, 2018

Saturday, March 3, 2018

Paradise Valley mansion for sale used as set for porn website

Linda Fein was in the process of negotiating a deal on a gorgeous contemporary-style home in Paradise Valley when she and her husband made a startling discovery. 

Read more... https://www.azcentral.com/story/money/real-estate/2018/02/27/porn-industry-couple-kevin-sandra-otterson-wifey-world-hubby-lists-paradise-valley-mansion-sale/373799002/

This simple Sunnyvale home sold for $2 million in only two days

The two-bed, one-bath, 848-square-foot house at 1062 Plymouth Streetin Sunnyvale wasn't even on the market for the length of a long weekend before a buyer dropped $2 million in cash for it—possibly breaking a Sunnyvale record in the process.

Read more... https://sf.curbed.com/2018/3/2/17073100/silicon-valley-house-home-sunnyvale-record-price-crisis

Tuesday, February 20, 2018

Venture REI's new platform allows buying, selling real estate online

Following the well-traveled real estate path was never part of Dan Noma Jr.'s business strategy.

Read more... https://www.azcentral.com/story/news/local/phoenix/2018/01/20/venture-reis-new-platform-allows-buying-selling-real-estate-online/929019001/

Posh Scottsdale apartment complex where rents reach $4,000 sells for record $210M

Will more Millennials start to buy Phoenix-area homes?

Study: Metro Phoenix ranks 9th nationally in unaffordable rentals

Higher rents recently landed the Valley on a top 10 list of U.S. cities where renters have the toughest time stretching their wages to pay rent.

Read more... https://www.azcentral.com/story/money/real-estate/catherine-reagor/2018/02/18/phoenix-ranks-9th-most-unaffordable-city-renters-according-study/338127002/

Supreme Court Rejects Hedge Funds on Fannie, Freddie Suits

The U.S. Supreme Court dealt hedge funds and other big investors a blow Tuesday by refusing to revive core parts of lawsuits that challenged the federal government's capture of billions of dollars in profits generated by Fannie Mae and Freddie Mac.

Read more... https://www.bloomberg.com/news/articles/2018-02-20/hedge-funds-rejected-by-top-u-s-court-on-fannie-freddie-suits

Sunday, January 14, 2018

As credit card debt hits record high, a trick can save you thousands

The Federal Reserve announced on Monday that outstanding credit card debt hit a new high in November, increasing by $11.2 billion to $1.023 trillion. "This record should serve as a wake-up call to American consumers to make 2018 the year they get their credit card debt under control," says Matt Schulz, the senior industry analyst at CreditCards.com.

Read more... https://www.cnbc.com/2018/01/09/as-credit-card-debt-hits-record-high-a-trick-can-save-you-thousands.html

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