Thursday, November 29, 2012
Revised plans for 572-unit apartment complex advance
The developer of an apartment complex at 74th Street and McDowell Road is moving ahead with a plan for the 572-unit project east of SkySong. Mark-Taylor Development has revised its plan for the 31-acre site to include a one-block section of Culver Street and a 1.59-acre parcel southeast of 74th and McDowell. The reconfigured site plan will give Mark-Taylor a significant presence along McDowell, with its main entrance near the middle of the block between 74th and Miller Road, zoning attorney Lynn Lagarde said. “It makes the project so much better,” she said. Read more: Revised plans for 572-unit apartment complex advance
Revised plans for 572-unit apartment complex advance
The developer of an apartment complex at 74th Street and McDowell Road is moving ahead with a plan for the 572-unit project east of SkySong. Mark-Taylor Development has revised its plan for the 31-acre site to include a one-block section of Culver Street and a 1.59-acre parcel southeast of 74th and McDowell. The reconfigured site plan will give Mark-Taylor a significant presence along McDowell, with its main entrance near the middle of the block between 74th and Miller Road, zoning attorney Lynn Lagarde said. “It makes the project so much better,” she said. Read more: Revised plans for 572-unit apartment complex advance
Eastmark to get more homes
More developers are signing up for pieces of the former General Motors Desert Proving Ground in southeast Mesa. Scottsdale-based AV Homes Inc. and JEN Partners LLC of New York City announced Tuesday they have combined to buy 527 acres in the Eastmark property being developed by DMB Associates of Scottsdale. A new entity called TerraWest Management Co. LLC will coordinate the two developments aimed at very different demographics: Read more: Eastmark to get more homes
Eastmark to get more homes
More developers are signing up for pieces of the former General Motors Desert Proving Ground in southeast Mesa. Scottsdale-based AV Homes Inc. and JEN Partners LLC of New York City announced Tuesday they have combined to buy 527 acres in the Eastmark property being developed by DMB Associates of Scottsdale. A new entity called TerraWest Management Co. LLC will coordinate the two developments aimed at very different demographics: Read more: Eastmark to get more homes
City adds 6,400 acres to preserve
Scottsdale completed a two-decade goal on Wednesday in buying 6,400 acres of state trust land in the far north of the city that will connect the McDowell Sonoran Preserve to the Tonto National Forest. The city was the lone bidder at $88.2 millionfor three parcels east of the Legend Trail golf community that were auctioned by the Arizona State Land Department. The link of the preserve's McDowell Mountains and desert terrain to the national forest provides a wildlife corridor and supports the natural cycle of plants propagating across the public lands. Read more: City adds 6,400 acres to preserve
City adds 6,400 acres to preserve
Scottsdale completed a two-decade goal on Wednesday in buying 6,400 acres of state trust land in the far north of the city that will connect the McDowell Sonoran Preserve to the Tonto National Forest. The city was the lone bidder at $88.2 millionfor three parcels east of the Legend Trail golf community that were auctioned by the Arizona State Land Department. The link of the preserve's McDowell Mountains and desert terrain to the national forest provides a wildlife corridor and supports the natural cycle of plants propagating across the public lands. Read more: City adds 6,400 acres to preserve
Tuesday, November 27, 2012
Paradise Valley resort plan to cut debt is filed
The owner of the troubled Mountain Shadows resort in Paradise Valley has submitted a reorganization plan in Bankruptcy Court that it says will help it come out of bankruptcy and develop the long-shuttered property. Read more: http://www.azcentral.com//community/scottsdale/articles/20121126paradise-valley-resort-plan-cut-debt-filed.html
Paradise Valley resort plan to cut debt is filed
The owner of the troubled Mountain Shadows resort in Paradise Valley has submitted a reorganization plan in Bankruptcy Court that it says will help it come out of bankruptcy and develop the long-shuttered property. Read more: http://www.azcentral.com//community/scottsdale/articles/20121126paradise-valley-resort-plan-cut-debt-filed.html
Sunday, November 25, 2012
Reagor: $883 mil in aid for Arizonans
More than $880 million so far has been committed to helping Arizona consumers through the National Mortgage Settlement, according to the nation's top five lenders. The latest report on the settlement, issued this week, is based on information from Bank of America, JPMorgan Chase, Wells Fargo, CitiBank and GMAC/Ally. The data shows most of the aid so far, about $762 million, is coming from short sales approved by the lenders. Another $61 million has been set aside or spent to help underwater borrowers refinance. About $60 million has gone toward modifying Arizona borrowers' primary mortgages. The lenders collectively report helping more than 13,000 of the state's consumers. Read more: Reagor: $883 mil in aid for Arizonans
Reagor: $883 mil in aid for Arizonans
More than $880 million so far has been committed to helping Arizona consumers through the National Mortgage Settlement, according to the nation's top five lenders. The latest report on the settlement, issued this week, is based on information from Bank of America, JPMorgan Chase, Wells Fargo, CitiBank and GMAC/Ally. The data shows most of the aid so far, about $762 million, is coming from short sales approved by the lenders. Another $61 million has been set aside or spent to help underwater borrowers refinance. About $60 million has gone toward modifying Arizona borrowers' primary mortgages. The lenders collectively report helping more than 13,000 of the state's consumers. Read more: Reagor: $883 mil in aid for Arizonans
Economist: Local recovery ‘mediocre,’ another 2 years away
Arizona can expect a tepid economic recovery next year with an improving housing market but don’t expect a robust economy until 2015. That’s the view of local economist Elliott Pollack, who spoke last week at an economic-forecast event presented by the Arizona School of Real Estate and Business in downtown Scottsdale. “It’s a mediocre recovery,” Pollack said. “It’s been bad for so long that it will seem better than it is.” Pollack, one of the featured speakers, was upbeat about declines in distressed-housing inventory and foreclosure notices as the market stabilizes. But he warned that the recovery could be derailed by some local and national issues that are already creating uncertainty. Nationally, the so-called fiscal cliff is poised to push the country back into recession by the second quarter of 2013 if Congress doesn’t act, Pollack said. Major tax cuts are scheduled to end at the start of next year along with deep cuts in federal spending for defense and other programs. Pollack, who admitted he was a cranky after returning from an overseas trip, is skeptical of what will happen in Washington because he said there is “no leadership in the White House or Congress.” “If anyone tells you we don’t need spending cuts and tax hikes they’re a (expletive) moron,” said Pollack, apologizing for his profanity. “We have to have tax increases.” Demand high for home lots Locally, home builders are ramping up to meet demand for new homes but there is a scarcity of developed lots and available land for new communities. “We will run out of lots in 2014 and then you’re done building,” he said. That shortage has been good for him. Pollack said he bought land in greater Phoenix in 2008-09 when prices plummeted and is selling it back now. Earlier, land broker Nate Nathan said land sales have been brisk. By the end of the year, land transactions will be completed on 110,000 residential lots in Maricopa and Pinal counties, Nathan said. Longer term, Pollack said the Phoenix area will add 1 million people and 200,000 homes within the next eight-to-10 years. Baby Boomers have delayed their retirement but many of them eventually will retire in the Valley, he said. Pollack said much of the growth will be in outlying areas because there is not enough infill land to meet the demand for housing. He also dismissed speculation that the Valley will run out of water. “There is not now, nor will there ever be, a water shortage,” said Pollack, adding that increasing water rates would reduce use and extend the supply. Investors bullish on market Pollack told the group of real estate professionals that investor groups from Wall Street are continuing to buy up big blocks of single-family houses in the Valley. That has created fear that local prices will fall if real estate investment trusts sell thousands of homes at the same time. But adding 2,000 homes to the available listing would not have a huge impact in a housing market with about 1.2 million homes, Pollack said. “I still think it’s a good time to buy single-family houses,” he said. It is encouraging that more than half the monthly home sales are traditional deals, not short sales, foreclosures or investor flips, Pollack said. During the recession, traditional sales dipped as low as 24 percent, he said. “Essentially we’re working our way through the problem,” Pollack said. “The lights are getting brighter. The economic forecast included moderators Bill Gray and Fletcher Wilcox, and panelists Sal DiCicio, Scott Golba, Tom Noble, Bill Rodgers, Gerrick Taylor, Keith Watkins and Nate Nathan. Wayne Stutzer of RBC Wealth Management was the other featured speaker. By Peter Corbett The Republic | azcentral.com Tue Nov 20, 2012 Economist: Local recovery ‘mediocre,’ another 2 years away
Economist: Local recovery ‘mediocre,’ another 2 years away
Arizona can expect a tepid economic recovery next year with an improving housing market but don’t expect a robust economy until 2015. That’s the view of local economist Elliott Pollack, who spoke last week at an economic-forecast event presented by the Arizona School of Real Estate and Business in downtown Scottsdale. “It’s a mediocre recovery,” Pollack said. “It’s been bad for so long that it will seem better than it is.” Pollack, one of the featured speakers, was upbeat about declines in distressed-housing inventory and foreclosure notices as the market stabilizes. But he warned that the recovery could be derailed by some local and national issues that are already creating uncertainty. Nationally, the so-called fiscal cliff is poised to push the country back into recession by the second quarter of 2013 if Congress doesn’t act, Pollack said. Major tax cuts are scheduled to end at the start of next year along with deep cuts in federal spending for defense and other programs. Pollack, who admitted he was a cranky after returning from an overseas trip, is skeptical of what will happen in Washington because he said there is “no leadership in the White House or Congress.” “If anyone tells you we don’t need spending cuts and tax hikes they’re a (expletive) moron,” said Pollack, apologizing for his profanity. “We have to have tax increases.” Demand high for home lots Locally, home builders are ramping up to meet demand for new homes but there is a scarcity of developed lots and available land for new communities. “We will run out of lots in 2014 and then you’re done building,” he said. That shortage has been good for him. Pollack said he bought land in greater Phoenix in 2008-09 when prices plummeted and is selling it back now. Earlier, land broker Nate Nathan said land sales have been brisk. By the end of the year, land transactions will be completed on 110,000 residential lots in Maricopa and Pinal counties, Nathan said. Longer term, Pollack said the Phoenix area will add 1 million people and 200,000 homes within the next eight-to-10 years. Baby Boomers have delayed their retirement but many of them eventually will retire in the Valley, he said. Pollack said much of the growth will be in outlying areas because there is not enough infill land to meet the demand for housing. He also dismissed speculation that the Valley will run out of water. “There is not now, nor will there ever be, a water shortage,” said Pollack, adding that increasing water rates would reduce use and extend the supply. Investors bullish on market Pollack told the group of real estate professionals that investor groups from Wall Street are continuing to buy up big blocks of single-family houses in the Valley. That has created fear that local prices will fall if real estate investment trusts sell thousands of homes at the same time. But adding 2,000 homes to the available listing would not have a huge impact in a housing market with about 1.2 million homes, Pollack said. “I still think it’s a good time to buy single-family houses,” he said. It is encouraging that more than half the monthly home sales are traditional deals, not short sales, foreclosures or investor flips, Pollack said. During the recession, traditional sales dipped as low as 24 percent, he said. “Essentially we’re working our way through the problem,” Pollack said. “The lights are getting brighter. The economic forecast included moderators Bill Gray and Fletcher Wilcox, and panelists Sal DiCicio, Scott Golba, Tom Noble, Bill Rodgers, Gerrick Taylor, Keith Watkins and Nate Nathan. Wayne Stutzer of RBC Wealth Management was the other featured speaker. By Peter Corbett The Republic | azcentral.com Tue Nov 20, 2012 Economist: Local recovery ‘mediocre,’ another 2 years away
Beach-club area construction creates some waves
Nearly an entire block in downtown Scottsdale’s entertainment district is teeming with construction as developer Shawn Yari’s beach club-anchored entertainment complex quickly takes shape. However, revelers will have to wait several months until the first bars open, and the beach club itself won’t be opening until next summer. As of now, the complex, being developed by Triyar Entertainment, owned by Yari, will include the indoor-outdoor beach club in the center and three restaurant-bars along the eastern side. The complex will encompass most of the block that housed Myst nightclub on Shoeman Lane, and Suede restaurant and bar on Indian Plaza, just south of Axis/Radius. The area is in the city’s entertainment district south of Camelback Road and east of Scottsdale Road. Read more: Beach-club area construction creates some waves
Beach-club area construction creates some waves
Nearly an entire block in downtown Scottsdale’s entertainment district is teeming with construction as developer Shawn Yari’s beach club-anchored entertainment complex quickly takes shape. However, revelers will have to wait several months until the first bars open, and the beach club itself won’t be opening until next summer. As of now, the complex, being developed by Triyar Entertainment, owned by Yari, will include the indoor-outdoor beach club in the center and three restaurant-bars along the eastern side. The complex will encompass most of the block that housed Myst nightclub on Shoeman Lane, and Suede restaurant and bar on Indian Plaza, just south of Axis/Radius. The area is in the city’s entertainment district south of Camelback Road and east of Scottsdale Road. Read more: Beach-club area construction creates some waves
U.S. banks cut mortgages by $6.3B in homeowner settlement | The Tennessean | tennessean.com
Less than a year after a landmark foreclosure abuse settlement, five of the nation’s biggest banks have cut struggling homeowner’s mortgages by $6.3 billion, part of a total $26.1 billion in home loan relief the banks agreed to provide. In Tennessee, roughly $85 million worth of relief has been provided for 2,134 borrowers between March 1 and Sept. 30, according to a report issued Monday by Joseph Smith, monitor of the settlement. Additionally, $51 million in loan modification trials are in progress. More than $37 million in local relief came in the form of short sales, in which lenders agree to accept less than what the seller owes on the mortgage. About $18 million was provided through refinancing loans. Read more: U.S. banks cut mortgages by $6.3B in homeowner settlement | The Tennessean | tennessean.com
U.S. banks cut mortgages by $6.3B in homeowner settlement | The Tennessean | tennessean.com
Less than a year after a landmark foreclosure abuse settlement, five of the nation’s biggest banks have cut struggling homeowner’s mortgages by $6.3 billion, part of a total $26.1 billion in home loan relief the banks agreed to provide. In Tennessee, roughly $85 million worth of relief has been provided for 2,134 borrowers between March 1 and Sept. 30, according to a report issued Monday by Joseph Smith, monitor of the settlement. Additionally, $51 million in loan modification trials are in progress. More than $37 million in local relief came in the form of short sales, in which lenders agree to accept less than what the seller owes on the mortgage. About $18 million was provided through refinancing loans. Read more: U.S. banks cut mortgages by $6.3B in homeowner settlement | The Tennessean | tennessean.com
Harassing calls can be reported
Question: I’ve been registered on the Do Not Call list for years but still get repeated telemarketing calls every month — many from the same companies. When I try to have my number deleted by pressing a suggested button, I only get more calls. Where can I report this harassment? —Nancy Halvorson, Phoenix Answer: I get this question often, and my answer always disappoints readers. The Do Not Call Registry is managed by the Federal Trade Commission. If you’re receiving harassing calls from telemarketers, you can file a complaint with the FTC at donotcall.gov. The FTC says it will investigate these complaints and punish offenders. Until they’re caught, some disreputable companies will continue to ring your phone off the hook. But the truth is: They may never be caught. Don’t bother filing complaints against charities, political groups, pollsters and companies conducting surveys. These groups are exempt from the registry and can call you as much as they choose. By Dave Cherry 12 News Mon Nov 19, 2012 Harassing calls can be reported
Harassing calls can be reported
Question: I’ve been registered on the Do Not Call list for years but still get repeated telemarketing calls every month — many from the same companies. When I try to have my number deleted by pressing a suggested button, I only get more calls. Where can I report this harassment? —Nancy Halvorson, Phoenix Answer: I get this question often, and my answer always disappoints readers. The Do Not Call Registry is managed by the Federal Trade Commission. If you’re receiving harassing calls from telemarketers, you can file a complaint with the FTC at donotcall.gov. The FTC says it will investigate these complaints and punish offenders. Until they’re caught, some disreputable companies will continue to ring your phone off the hook. But the truth is: They may never be caught. Don’t bother filing complaints against charities, political groups, pollsters and companies conducting surveys. These groups are exempt from the registry and can call you as much as they choose. By Dave Cherry 12 News Mon Nov 19, 2012 Harassing calls can be reported
$150,000 grant from bank to help first-time homebuyers in Chandler
The partnership between Chandler and the Newtown Community Development Corp., in working to put first-time homebuyers into empty houses, got a boost recently. Newtown, the Tempe-based non-profit organization that administers much of Chandler’s neighborhood stabilization efforts, received a $150,000 Priority Markets Grant Friday from Wells Fargo bank. The money will be used to bolster the down-payment assistance program for first-time buyers and help set up a rotating loan fund for repairs to existing homes in the program. Newtown Executive Director Allen Carlson said $100,000 of the money would be combined with $200,000 in existing funds for down-payment assistance. The remaining $50,000 from the grant would start the loan fund. Read more: $150,000 grant from bank to help first-time homebuyers in Chandler
$150,000 grant from bank to help first-time homebuyers in Chandler
The partnership between Chandler and the Newtown Community Development Corp., in working to put first-time homebuyers into empty houses, got a boost recently. Newtown, the Tempe-based non-profit organization that administers much of Chandler’s neighborhood stabilization efforts, received a $150,000 Priority Markets Grant Friday from Wells Fargo bank. The money will be used to bolster the down-payment assistance program for first-time buyers and help set up a rotating loan fund for repairs to existing homes in the program. Newtown Executive Director Allen Carlson said $100,000 of the money would be combined with $200,000 in existing funds for down-payment assistance. The remaining $50,000 from the grant would start the loan fund. Read more: $150,000 grant from bank to help first-time homebuyers in Chandler
Habitat for Humanity working on 8 Peoria homes
In a few months, Michel’le Dinkins will move into her first home — one she has helped construct, nail by nail. The 22-year-old single mom, a part-time student and full-time St. Mary’s Food Bank employee, will get the key in February to one of eight Habitat for Humanity Central Arizona projects under way in Peoria. The faith-based non-profit builds and renovates homes and sells them to low-income families at affordable prices with no-interest mortgages. The organization owns three vacant lots in Peoria not yet under construction and has built a new home and renovated seven others this year. Read more: Habitat for Humanity working on 8 Peoria homes
Habitat for Humanity working on 8 Peoria homes
In a few months, Michel’le Dinkins will move into her first home — one she has helped construct, nail by nail. The 22-year-old single mom, a part-time student and full-time St. Mary’s Food Bank employee, will get the key in February to one of eight Habitat for Humanity Central Arizona projects under way in Peoria. The faith-based non-profit builds and renovates homes and sells them to low-income families at affordable prices with no-interest mortgages. The organization owns three vacant lots in Peoria not yet under construction and has built a new home and renovated seven others this year. Read more: Habitat for Humanity working on 8 Peoria homes
Sale of Frank Lloyd Wright -designed Arizona home falls through
Sale of Frank Lloyd Wright -designed Arizona home falls through
Construction begins on $17 mil senior complex in Mesa
The first major private investment in downtown Mesa in Councilman Chris Glover’s lifetime is off and running. Glover, 25, who represents downtown Mesa, helped break ground this week on a $17 million, 81-unit senior-housing complex southwest of the Mesa Arts Center. For the past quarter-century, all the big-money projects in downtown Mesa, most notably the nearly $100 million Mesa Arts Center, have been government-funded. Encore on First Avenue is one of three subsidized housing projects approved in Mesa this year; the others are the redevelopment of the Escobedo Apartments and a major overhaul of the La Mesita Family Shelter. Read more: Construction begins on $17 mil senior complex in Mesa
Construction begins on $17 mil senior complex in Mesa
The first major private investment in downtown Mesa in Councilman Chris Glover’s lifetime is off and running. Glover, 25, who represents downtown Mesa, helped break ground this week on a $17 million, 81-unit senior-housing complex southwest of the Mesa Arts Center. For the past quarter-century, all the big-money projects in downtown Mesa, most notably the nearly $100 million Mesa Arts Center, have been government-funded. Encore on First Avenue is one of three subsidized housing projects approved in Mesa this year; the others are the redevelopment of the Escobedo Apartments and a major overhaul of the La Mesita Family Shelter. Read more: Construction begins on $17 mil senior complex in Mesa
Tanger to bring 85 new stores to Westgate in Glendale
Tanger to bring 85 new stores to Westgate in Glendale
A reverse mortgage can add up
Question: My wife and I are in our 60s, our house is paid off and we have no plans to move. What do you think about a reverse mortgage? —Dave Cole, Phoenix Answer: Reverse mortgages are available to homeowners age 62 and older. The mortgage relationship is reversed; the mortgage company pays you every month and then gets its principal plus interest back when your heirs sell the house. You are essentially drawing on your home’s equity while still living in it. Typically, the loan doesn’t need to be repaid until after your death. If the house sells for more than the loan balance, your heirs keep the difference. Reverse mortgages are expensive. You pay a loan origination fee, closing costs and insurance. If you fail to maintain your property and pay homeowner’s insurance and taxes, you risk foreclosure. Consumer Reports estimates that 54,000 reverse mortgages are in default, mostly due to homeowners’ inability to pay taxes and insurance. Before you call any lender, talk with a counselor approved by the U.S. Department of Housing and Urban Development. It’s free, and counseling is required by law to get these loans. The counselor can help you figure out if you qualify and if a reverse mortgage is right for you. By Dave Cherry Calll 12 for Action Mon Nov 12, 2012 A reverse mortgage can add up
A reverse mortgage can add up
Question: My wife and I are in our 60s, our house is paid off and we have no plans to move. What do you think about a reverse mortgage? —Dave Cole, Phoenix Answer: Reverse mortgages are available to homeowners age 62 and older. The mortgage relationship is reversed; the mortgage company pays you every month and then gets its principal plus interest back when your heirs sell the house. You are essentially drawing on your home’s equity while still living in it. Typically, the loan doesn’t need to be repaid until after your death. If the house sells for more than the loan balance, your heirs keep the difference. Reverse mortgages are expensive. You pay a loan origination fee, closing costs and insurance. If you fail to maintain your property and pay homeowner’s insurance and taxes, you risk foreclosure. Consumer Reports estimates that 54,000 reverse mortgages are in default, mostly due to homeowners’ inability to pay taxes and insurance. Before you call any lender, talk with a counselor approved by the U.S. Department of Housing and Urban Development. It’s free, and counseling is required by law to get these loans. The counselor can help you figure out if you qualify and if a reverse mortgage is right for you. By Dave Cherry Calll 12 for Action Mon Nov 12, 2012 A reverse mortgage can add up
Group will build houses in Valley for injured vets
For Mike and Cheryl Leonard, Peoria represents a new chapter -- a fresh start after a roadside-bomb explosion in Afghanistan turned their lives upside down. Mike Leonard, a first sergeant in the U.S. Army, was riding in a medical vehicle two years ago when an explosion knocked him unconscious. "I just remember telling my senior medic, 'Just get everybody out. Get everybody out,' " the 41-year-old said. Read more: Group will build houses in Valley for injured vets
Group will build houses in Valley for injured vets
For Mike and Cheryl Leonard, Peoria represents a new chapter -- a fresh start after a roadside-bomb explosion in Afghanistan turned their lives upside down. Mike Leonard, a first sergeant in the U.S. Army, was riding in a medical vehicle two years ago when an explosion knocked him unconscious. "I just remember telling my senior medic, 'Just get everybody out. Get everybody out,' " the 41-year-old said. Read more: Group will build houses in Valley for injured vets
Real estate exec sees commercial looking up
Real estate exec sees commercial looking up
Capital-improvement projects on the rise
For the first time in at least three years, Paradise Valley is seeing a substantial increase in capital-improvement projects, returning activity to pre-recession numbers. At least five projects are included in the 2012-13 budget. Town Manager Jim Bacon says this will bring more construction to the town streets, which in the long run, fares well for everybody. Because a very difficult economy is getting better, capital budgets are returning, he said. “We’re trying to re-establish capital projects as a part of what we do,” Bacon said. “Street systems, sidewalks, drainage — these are things people don’t really think about a whole lot, but they’re just-as-important services that government provides as public safety.” The town has invested in capital improvements this year at a level comparable to before the economic downturn. Read more: Capital-improvement projects on the rise
Capital-improvement projects on the rise
For the first time in at least three years, Paradise Valley is seeing a substantial increase in capital-improvement projects, returning activity to pre-recession numbers. At least five projects are included in the 2012-13 budget. Town Manager Jim Bacon says this will bring more construction to the town streets, which in the long run, fares well for everybody. Because a very difficult economy is getting better, capital budgets are returning, he said. “We’re trying to re-establish capital projects as a part of what we do,” Bacon said. “Street systems, sidewalks, drainage — these are things people don’t really think about a whole lot, but they’re just-as-important services that government provides as public safety.” The town has invested in capital improvements this year at a level comparable to before the economic downturn. Read more: Capital-improvement projects on the rise
Developer’s plans may clash with Borgata shopkeepers’
A homebuilder has plans to redevelop the Borgata of Scottsdale, but merchants at the faux-Italian village say they are open for business and aren’t closing their doors anytime soon. Femme de Paris owner Cindy Carias said she and a few other tenants have leases through December 2014 and plan to stay until then. “The new owners have a long way to go to get permits to bulldoze this place down,” Carias said. “I want people to know we’re still here.” The shopping center northwest of Scottsdale Road and McDonald Drive has been in flux since AV Homes Inc. bought the 90,000-square-foot property in September for $12.8 million. The Scottsdale builder submitted preliminary plans to Scottsdale this week to build 250 condos in buildings of up to four stories, said Ken Plonski, AV Homes vice president of communications. Read more: Developer’s plans may clash with Borgata shopkeepers’
Developer’s plans may clash with Borgata shopkeepers’
A homebuilder has plans to redevelop the Borgata of Scottsdale, but merchants at the faux-Italian village say they are open for business and aren’t closing their doors anytime soon. Femme de Paris owner Cindy Carias said she and a few other tenants have leases through December 2014 and plan to stay until then. “The new owners have a long way to go to get permits to bulldoze this place down,” Carias said. “I want people to know we’re still here.” The shopping center northwest of Scottsdale Road and McDonald Drive has been in flux since AV Homes Inc. bought the 90,000-square-foot property in September for $12.8 million. The Scottsdale builder submitted preliminary plans to Scottsdale this week to build 250 condos in buildings of up to four stories, said Ken Plonski, AV Homes vice president of communications. Read more: Developer’s plans may clash with Borgata shopkeepers’
New Chandler high-end townhouses called key for downtown growth
New Chandler high-end townhouses called key for downtown growth
Tuesday, November 20, 2012
Realty Times - 2012 Homebuyer Survey Contains Valuable Information
One of the most useful research projects of the National Association of Realtors® (NAR) is the annual survey of homebuyers and sellers. The most recent version (Profile of Home Buyers and Sellers 2012) became available in November of this year. The information is based on answers to a 120-question survey mailed to a random sample of 93,502 consumers who purchased a home between July 2011 and June 2012. (Names and addresses were provided by Experian, a company that maintains an extensive database of recent homebuyers that is derived from county records.) After accounting for undeliverable surveys, there was a 9.1 percent response rate. Read more: Realty Times - 2012 Homebuyer Survey Contains Valuable Information
Realty Times - 2012 Homebuyer Survey Contains Valuable Information
One of the most useful research projects of the National Association of Realtors® (NAR) is the annual survey of homebuyers and sellers. The most recent version (Profile of Home Buyers and Sellers 2012) became available in November of this year. The information is based on answers to a 120-question survey mailed to a random sample of 93,502 consumers who purchased a home between July 2011 and June 2012. (Names and addresses were provided by Experian, a company that maintains an extensive database of recent homebuyers that is derived from county records.) After accounting for undeliverable surveys, there was a 9.1 percent response rate. Read more: Realty Times - 2012 Homebuyer Survey Contains Valuable Information
Monday, November 19, 2012
BiPS rise up | HousingWire
On Aug. 31, the Federal Housing Finance Agency, steward of the largest mortgage financiers in the U.S., Fannie Mae and Freddie Mac, said it would raise the guarantee fees each entity charges lenders by 10 basis points to securitize loans and insure the timely interest and principal payments for investors. The plan to do so was announced earlier in the year in order to encourage private capital back into the market. Read more: http://www.housingwire.com/news/g-fee-spike
BiPS rise up | HousingWire
On Aug. 31, the Federal Housing Finance Agency, steward of the largest mortgage financiers in the U.S., Fannie Mae and Freddie Mac, said it would raise the guarantee fees each entity charges lenders by 10 basis points to securitize loans and insure the timely interest and principal payments for investors. The plan to do so was announced earlier in the year in order to encourage private capital back into the market. Read more: http://www.housingwire.com/news/g-fee-spike
GSE Announces Winter Bonus for Agents Who Sell HomeSteps Homes
Agents who sell HomeSteps homes, or Freddie Mac-owned residences, are eligible for winter bonuses. Read more: http://www.dsnews.com/articles/freddie-mac-offers-winter-bonus-to-agents-who-sell-its-homes-2012-11-16
GSE Announces Winter Bonus for Agents Who Sell HomeSteps Homes
Agents who sell HomeSteps homes, or Freddie Mac-owned residences, are eligible for winter bonuses. Read more: http://www.dsnews.com/articles/freddie-mac-offers-winter-bonus-to-agents-who-sell-its-homes-2012-11-16
Friday, November 9, 2012
Chandler’s Price Corridor a mecca for new offices
Chandler’s Price Corridor a mecca for new offices
Scottsdale and Phoenix Luxury Condo Sales – 2012 Performance - AZ Voices Real Estate
Scottsdale and Phoenix Luxury Condo Sales – 2012 Performance - AZ Voices Real Estate
Are we better off now? Depends
It was one of Ronald Reagan's defining moments in the 1980 presidential-election campaign, when he looked into the camera during a debate with then-President Jimmy Carter and prodded voters to ask themselves, "Are you better off now than you were four years ago?" Ever since then, the question has surfaced regularly during presidential campaigns, with the answers representing one succinct way to measure each incumbent's track record in office. The question remains relevant as Americans again flock to polling booths. But it's not a perfect catchall. A number of economists noted that in the fall of 2008, the economy was just beginning to plunge because of a worldwide financial crisis. Four years later, it's slowly recovering. Read more: Are we better off now? Depends
Are we better off now? Depends
It was one of Ronald Reagan's defining moments in the 1980 presidential-election campaign, when he looked into the camera during a debate with then-President Jimmy Carter and prodded voters to ask themselves, "Are you better off now than you were four years ago?" Ever since then, the question has surfaced regularly during presidential campaigns, with the answers representing one succinct way to measure each incumbent's track record in office. The question remains relevant as Americans again flock to polling booths. But it's not a perfect catchall. A number of economists noted that in the fall of 2008, the economy was just beginning to plunge because of a worldwide financial crisis. Four years later, it's slowly recovering. Read more: Are we better off now? Depends
Peoria City Council approves spring training clubhouse work
Peoria City Council approves spring training clubhouse work
Low-income lofts open in downtown
A new property designed to accommodate low-income adults who are either disabled or older than 54 opened in downtown Phoenix’s Roosevelt neighborhood Wednesday. The Lofts at McKinley, on the northeastern corner of Fifth Avenue and McKinley Street, requires that its residents’ income is between $18,680 and $28,020 per year. Phoenix officials say the developers built the 60-unit complex on the site of a vacant two-story office building that had become obsolete. Read more: Low-income lofts open in downtown
Low-income lofts open in downtown
A new property designed to accommodate low-income adults who are either disabled or older than 54 opened in downtown Phoenix’s Roosevelt neighborhood Wednesday. The Lofts at McKinley, on the northeastern corner of Fifth Avenue and McKinley Street, requires that its residents’ income is between $18,680 and $28,020 per year. Phoenix officials say the developers built the 60-unit complex on the site of a vacant two-story office building that had become obsolete. Read more: Low-income lofts open in downtown
Answers to market questions
Metro Phoenix housing analyst Mike Orr participated in a live chat on azcentral.com this week about the state of the residential market. Orr, publisher of the Cromford Report and director of the Center for Real Estate Theory and Practice at Arizona State University's W.P. Carey School of Business, shared his views on prices, sales, appraisers and mortgages. Here are some excerpts from his online conversation with readers: Read more: Answers to market questions
Answers to market questions
Metro Phoenix housing analyst Mike Orr participated in a live chat on azcentral.com this week about the state of the residential market. Orr, publisher of the Cromford Report and director of the Center for Real Estate Theory and Practice at Arizona State University's W.P. Carey School of Business, shared his views on prices, sales, appraisers and mortgages. Here are some excerpts from his online conversation with readers: Read more: Answers to market questions
New floor plans, lower prices help revive stalled community
New floor plans, lower prices help revive stalled community
Thursday, November 8, 2012
LifeLock posts first earnings as public company
Tempe-based identity-theft monitoring firm LifeLock Inc. on Wednesday reported its first quarterly financial results as a public company following the firm's initial public offering in October. LifeLock reported quarterly revenue of $72.1 million for the third quarter, a 44 percent increase from revenue of $50 million for the third quarter of 2011. The company's net income for the quarter was $7.9 million, compared with a net loss of $500,000 for the third quarter of 2011, the company reported. Read more: LifeLock posts first earnings as public company
LifeLock posts first earnings as public company
Tempe-based identity-theft monitoring firm LifeLock Inc. on Wednesday reported its first quarterly financial results as a public company following the firm's initial public offering in October. LifeLock reported quarterly revenue of $72.1 million for the third quarter, a 44 percent increase from revenue of $50 million for the third quarter of 2011. The company's net income for the quarter was $7.9 million, compared with a net loss of $500,000 for the third quarter of 2011, the company reported. Read more: LifeLock posts first earnings as public company
Wednesday, November 7, 2012
Paradise Valley may realign 56th Street for resort revamp
Paradise Valley officials say realigning 56th Street may allow for Crown Realty & Development to revitalize the Mountain Shadows Golf Resort in a way that will calm height and density concerns voiced by neighbors and elected leaders. Read more: http://arizona.newszap.com/home/117624-130/paradise-valley-may-realign?utm_source=newsletter&utm_medium=AZ-CRE-REPORT&utm_campaign=GPEConnect
Paradise Valley may realign 56th Street for resort revamp
Paradise Valley officials say realigning 56th Street may allow for Crown Realty & Development to revitalize the Mountain Shadows Golf Resort in a way that will calm height and density concerns voiced by neighbors and elected leaders. Read more: http://arizona.newszap.com/home/117624-130/paradise-valley-may-realign?utm_source=newsletter&utm_medium=AZ-CRE-REPORT&utm_campaign=GPEConnect
Wright house fix-up cost may top $300,000
Read more: http://www.azcentral.com/community/phoenix/articles/20121030wright-house-fix-up-cost-may-top-300000.html
Wright house fix-up cost may top $300,000
Read more: http://www.azcentral.com/community/phoenix/articles/20121030wright-house-fix-up-cost-may-top-300000.html
Friday, November 2, 2012
Special Series: Industry Weighs in on the Shadow Inventory Debate
After raising the question of how the election might impact the housing market's shadow inventory, it was obvious to see we had touched on a key issue near and dear to many voters' hearts, minds, and wallets. Responses to the initial installment of our special election series poured in, and while we can only share some of the reactions here, we'd like to thank all of you who took the time to put your perspectives into words and join in the conversation. Read more: http://www.dsnews.com/articles/special-series-industry-weighs-in-on-both-sides-of-shadow-inventory-debate-2012-11-01
Special Series: Industry Weighs in on the Shadow Inventory Debate
After raising the question of how the election might impact the housing market's shadow inventory, it was obvious to see we had touched on a key issue near and dear to many voters' hearts, minds, and wallets. Responses to the initial installment of our special election series poured in, and while we can only share some of the reactions here, we'd like to thank all of you who took the time to put your perspectives into words and join in the conversation. Read more: http://www.dsnews.com/articles/special-series-industry-weighs-in-on-both-sides-of-shadow-inventory-debate-2012-11-01
Thursday, November 1, 2012
Forget BofA. Check out the online bank BofI
Bank of Internet's CEO Gregory Garrabrants told an audience at an investing conference in San Diego last week that his bank, with roughly $2.4 billion in assets, can compete with its larger rivals because it's not weighed down.....Read more: http://buzz.money.cnn.com/2012/11/01/bofi-bofa-banks/
Forget BofA. Check out the online bank BofI
Bank of Internet's CEO Gregory Garrabrants told an audience at an investing conference in San Diego last week that his bank, with roughly $2.4 billion in assets, can compete with its larger rivals because it's not weighed down.....Read more: http://buzz.money.cnn.com/2012/11/01/bofi-bofa-banks/
CFPB Takes on Debt Collectors With New Oversight
Last week, the Consumer Financial Protection Bureau said it would begin regulating debt collection companies starting at the beginning of 2013. "We now find that debt collection is a central issue of our times," director Richard Cordray said. Read more: http://business.time.com/2012/11/01/cfpb-takes-on-debt-collectors-with-new-oversight
CFPB Takes on Debt Collectors With New Oversight
Last week, the Consumer Financial Protection Bureau said it would begin regulating debt collection companies starting at the beginning of 2013. "We now find that debt collection is a central issue of our times," director Richard Cordray said. Read more: http://business.time.com/2012/11/01/cfpb-takes-on-debt-collectors-with-new-oversight
Banks to waive fees for customers in storm-hit areas | Fox News
Banks have temporarily waived a variety of fees and late charges for residents of states hit hard by Superstorm Sandy. It's an effort to ease pressure on customers to make bill payments when many remain without power. Read more: http://www.foxnews.com/us/2012/10/31/banks-to-waive-fees-for-customers-in-storm-hit-areas/
Banks to waive fees for customers in storm-hit areas | Fox News
Banks have temporarily waived a variety of fees and late charges for residents of states hit hard by Superstorm Sandy. It's an effort to ease pressure on customers to make bill payments when many remain without power. Read more: http://www.foxnews.com/us/2012/10/31/banks-to-waive-fees-for-customers-in-storm-hit-areas/
Frank Lloyd Wright-designed home sold
An anonymous buyer has purchased a Phoenix home designed by Frank Lloyd Wright with the aim of preserving an architectural gem that, until last week, was threatened with demolition. Read more: http://www.azcentral.com/community/phoenix/articles/20121031frank-lloyd-wrightdesigned-home-sold.html
Frank Lloyd Wright-designed home sold
An anonymous buyer has purchased a Phoenix home designed by Frank Lloyd Wright with the aim of preserving an architectural gem that, until last week, was threatened with demolition. Read more: http://www.azcentral.com/community/phoenix/articles/20121031frank-lloyd-wrightdesigned-home-sold.html
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