Arizona Real Estate

Capitol Mall Assoc. raffling off Phoenix houses – only $20 a ticket

admin — Thu, 17 May 2012 19:05:28 +0000

Here’s a chance for homebuyers to not be outbid by investors and get a house for $20. The Capitol Mall Association is raffling off two homes, one in south Phoenix and the other in west Phoenix.
Tickets are going for $20 apiece or six for $100, and the houses are renovated and ready to move into.

“These are great houses. Anybody who can get one for $20 will be very happy,” Capitol Mall Executive Director Shannon Dubasik said “But we are running out of time.”

The non-profit must sell 27,000 tickets by May 31, the day of the drawing, …

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Phoenix housing market update

admin — Thu, 17 May 2012 19:05:28 +0000

Here’s a quick look at the latest statistics. April showed another month of positive gains for metro Phoenix’s housing market.
The region’s median monthly resale home price climbed to $138,325,from $131,000 in March, according to Tom Ruff’s analysis with AZbidder and Information Market.In October, the median was $115,000. Last month, there were 8,552 home sales across the Phoenix area, down from 9,581 in March but up from 7,293 in February.

The number of metro Phoenix homes taken back by lenders fell to 1,642, down from almost 2,000 in March. In spring 2011, there were more than …

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Home building in metro Phoenix show signs of a recovery

admin — Fri, 11 May 2012 08:58:03 +0000

The rebound of metro Phoenix’s new home market continues to build.
New home permits were up 61 percent in the region during March, accord to the latest Phoenix Housing Market Letter. The increase is more staggering than the actual numbers, but still it signals “evidence of a new housing rebound,” according the report’s publishers RL Brown and Greg Burger.
In March, there were 1,036 single-family permits issued. It was the first month in awhile where home- building permits topped 1,000.
Last year in March, there were 645 single-family permits issued across the Phoenix-area. Overall, …

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Arizona housing leaders fight to keep money from lender settlement

admin — Tue, 01 May 2012 17:55:14 +0000

The Arizona Housing Alliance, made up of leaders in the housing industry, is considering legal action to stop a proposed $50 million sweep from the mortgage settlement fund to balance the state’s budget.
Arizona received a payment of $97.7 million to a mortgage settlement fund as part of a settlement reached by 49 states and the country’s five largest mortgage loan servicers who engaged in fraudulent foreclosure practices. The consent judgment stipulates the money should be used to avoid preventable foreclosures, to ameliorate the effects of the foreclosure crisis, and to prevent mortgage fraud.
Governor Brewer’s and top Republican legislative leaders’ …

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Watch out for scams on $25 billion lender settlement

admin — Sat, 28 Apr 2012 12:51:22 +0000

Scams to try to cash in on the $25 billion settlement with the nation’s largest lenders have already begun, and the deal was finalized just last month.

The Arizona Attorney General is warning consumers to watch out for companies contacting them about the settlement. People who are eligible for part of the settlement will be contacted directly by one of the five major lenders involved — BofA, Citigroup, the former GMAC (now known as Ally Financial), JPMorgan Chase and Wells Fargo.

Arizona’s portion of the settlement is $1.6 billion. About $1.3 billion of that amount will …

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Phoenix commercial foreclosure web site

admin — Wed, 25 Apr 2012 07:51:16 +0000

Phoenix group called VIZZDA, which stands for visual data, has created a website with information on commercial foreclosures in metro Phoenix. VIZZDA has data, photos, video, past ownership and the current foreclosure status of all metro Phoenix’s commercial properties and vacant land.

Users including banks, investors, brokers, contractors and vendors, can see what commercial properties are in foreclosure on any given block, a mile-radius or city and then compare them with comps, or recent sales, of similar properties.

“We are providing more than data. We are creating content,” said Hadden Schifman, co-founder of VIZZDA. “We believe …

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Phoenix commercial foreclosure web site

admin — Wed, 25 Apr 2012 07:51:16 +0000

“We are providing more than data. We are creating content,” said Hadden Schifman, co-founder of VIZZDA. “We believe …

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Q and A with new president of developer DMB Associates

admin — Sun, 15 Apr 2012 16:42:57 +0000

DMB Associates promoted Charley Freericks to president earlier this week. Here are some opinions on the housing market, and DMB’s future from the the veteran of Arizona real estate.
1. How would you describe metro Phoenix’s current housing market? Economy?
There is significant anecdotal evidence for the beginning of a recovery. In housing, in retail, office, and in employment. I look for it in discretionary spending places – restaurants have wait lists, at sporting events seats are filled and there are lines at concessions. DMB’s communities and commercial centers tell the same story – month to month and year over year the …

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Check out metro Phoenix most expensive homes

admin — Thu, 12 Apr 2012 11:42:16 +0000

This year’s list has few new ones. North Scottsdale Silverleaf community is becoming more popular with mulit-million dollar buyers, but most of the region’s most expensive mansions are still In Paradise Valley.
http://www.azcentral.com/business/realestate/articles/2012/04/05/20120405Phoenix-scottsdale-most-expensive-homes-real-estate.html …

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Metro Phoenix's median home price jumps in March

admin — Mon, 09 Apr 2012 06:36:15 +0000

Naysayers of metro Phoenix’s housing market recovery might be swayed by this: the median price of an existing home in the region climbed 7 percent during March.
Last month, the median price of a Phoenix-area used home reached $131,000, according the real estate firm AZBidder. That’s the highest the median for the area since June 2010.
A little more positive data. In April, 9,587 houses sold across the region. That’s the highest level since June 2009.
The number of homes for sale continues to shrink. There are 21,750 houses on the market Valleywide, according to the Cromford Report. But that figure includes 7,700 …

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