Why you should relocate to Arizona
T hinking about purchasing Arizona real estate? Each year thousands of people move to Arizona because of a career move, to be closer to family, or because they just need an escape from the cold weather. If you are contemplating whether or not you should buy a home and live in Arizona , here are a few reasons in favor of relocating to the “Valley of the Sun:” 1. Arizona Real Estate: Even though the economy is struggling, the best deals to be had in Arizona are right now. Whether you need a 2 bedroom condo, a small adobe house or luxury estate, Arizona has a variety of homes to choose from for every budget. For example, if you want to live out of the city in a town such as Queen Creek, you can get a brand new 2,700 sq ft home with incentives for under...
Home Buyer Tax Credit could be extended
C ongress is working on a plan to extend and expand the home buyer tax credit which will cost taxpayers $10.8 billion dollars. More details include: $8,000 tax credit is available for first-time buyers or those who have not owned a home for 3 years. Homeowners who buy a new principal residence after living in their current home for at least the last five years can claim up to $6,500. Credit is available for homes that go under contract by April 30, 2010 and close within 60 days after that Income limits are $125,000 a year for individuals and $225,000 a year for married couples. The plan will include anti-fraud measures such as minimum age requirements and additional authorities for the IRS If you are a first-time homeowner, don’t wait for Congress to...
Bankers file lawsuit over repeal of AZ foreclosure law
T he Arizona Bankers Assocation has filed a lawsuit to overturn legislation that repealed a controversial new state foreclosure law. Earlier this week, the Bankers Association field the suit in the Arizona Supreme Court alleging the legislation is unconstitutional. The fight centers around SB 1271, which was passed in early July and allowed lenders to go after the assets of many homeowners in foreclosure. The bill made it legal for lenders to seek the difference between what a borrower owed and how much they were able to recoup from reselling the forecloure home. Many in the real estate industry fought to repeal the … read the rest of this post
Sen. John McCain to talk real estate
A riz. Sen. John McCain will speak to Arizona’s top real estate leaders on Oct. 30th. He is the keynote speaker at Urban land Institute’s fall town hall event. McCain is on tap to talk about the state’s economy, environment and energy needs at Urban Land Institute’s town hall. The event starts at 3:30 p.m. at the Arizona Biltmore Resort. Go to arizona.uli.org. … read the rest of this post
Two AZ "foreclosure rescue" firms to pay $1.37 million in fines, restitution
T he Arizona Attorney General’s office has settled two mortgage fraud lawsuits for $1.37 million. Most of the money will go towards paying restitution to consumers who lost money to the "foreclosures help" firms. Richard Winer, principal of the firm Taken Care of Investments, has agreed to pay fines totaling $691,000,half of which goes to consumers who lost money to the firm, according to a Maricopa Superior Court consent judgment. In March, Attorney General Terry Goddard’s filed a complaint alleging Winer and his businesses defrauded 270 Arizona homeowners in danger of foreclosure, by promising to obtain the deed to their home and then … read the rest of this...