Archive for April, 2010

Phoenix Housing Market – A look at the boom and the bust

Today’s Phoenix home sales are running near record levels, but the dynamics are a bit different than other areas of the country. Investors represent about 50% of current home sales, the dollar amounts may be lower due to low-cost foreclosures, but speculative buyers dominate the market right now. We are seeing some homes being fixed and flipped. Investors who purchased foreclosures in the last 18…

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Phoenix Green Rail Corridor receives grant to GO GREEN

Happy Earth Day! The US Energy Department awarded the city of Phoenix a $25 million economic-stimulus grant to creating 2700 jobs to help make buildings and homes greener along the 10-mile stretch of the light rail. The goal is to elimate carbon emissions by 50,000 metric tons over the next six years. Homes and Office Buildings will receive energy-efficient windows and lighting. Workers to install…

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Ways to help assess the value of your home

Valuing a home today in metropolitan Phoenix is difficult for many homeowners.Foreclosures and short sales weigh heavily on comparable-sales figures, the “comps,” in every neighborhood. How those below market sale prices affect a home’s value varies by neighborhood.• Mike Orr, publisher of the Cromford Report that tracks ARMLS data, says to use a number of methods, including the assessor Web site, obtaining a competitive market…

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RESTORE in Anthem, AZ Opens Saturday 9-1

RESTORE comes to ANTHEM, AZGrand Opening Saturday from 9:00 a.m. – 1:00 p.m. This will be Habitat for Humanity’s fourth RESTORE to open.Consumers can give their home a new look without breaking the bank. They can purchase things at 40% – 70% off. The merchandise is donated by business clearance and closeouts. Everything from light fixtures to hardware. Valley homebuilders donate from model homes. Other…

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Arizona Foreclosure Aid meeting highlights

Arizona Aid for Foreclosure meeting highlights: A public meeting hosted Wednesday by the Arizona Housing Department to share and receive feedback on how it plans to spend $125 million in new federal funds to fight the foreclosure crisis. Only homeowners living in “modest” primary residences would be eligible, not investors.And anyone who applied for help would have to demonstrate their risk of foreclosure was due…

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Phoenix Foreclosures hit a record at 5,556 in the month of March

In March, a record number of homes were foreclosed on in metropolitan Phoenix.Lenders foreclosed on 5,556 properties. Also, an increse of 30% in pre-foreclosures was also reported as the number rose to 8,045 in March. Six of seven bills that made up the proposed Foreclosure Rescue for Arizona Act were never heard in the Legislature. Would this have helped those homeowners that were struggling to…

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Vacant Land owners can face judgment after foreclosure

Arizona’s anti-deficiency statues protect HOMEOWNERS from pesonal liability after foreclosure sale on loans used to PURCHSE a home, but they do not protect owners of vacant land. Read more at www.KathleenInArizona.com Latest Real Estate News

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New HAFA Short Sale Program begins

Home Affordable Foreclosure Alternatives Program: Overview The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures. HAFA alternatives are available to all HAMP-eligible borrowers who: 1) do not qualify for a Trial Period Plan; 2) do not successfully complete a Trial Period…

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