More money for foreclosure help in Arizona

March 13, 2010 By Leave a Comment

Additional help for Arizona homeowners facing foreclosure is on the way. About $1.3 million from a consumer fraud settlement with Countrywide Home Loans is now being distributed to 12 housing non-profits across the state.
The money will go towards hiring more counselors to help homeowners facing foreclosures.
“It is our hope that these settlement funds will have a positive impact on families throughout the state who are in great need of counseling assistance to help them stay in their homes,” said Arizona Attorney General Terry Goddard.“ The problem is so acute that additional staff can make a big difference."
The multi-state consumer fraud …

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Posted by CatherineReagor’s Blog

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Ariz. legislation to limit risky mortgages

March 13, 2010 By Leave a Comment

Legislation has been introduced to prohibit excessive fees on mortgages and the issuance of certain types of high-cost,home loans in Arizona.
S.B. 1288,introduced by Sen. John Nelson, R-, of Glendale, calls for limiting negative-amortization mortgages as well as balloon payments and pre-payment penalties on most other mortgages.
The Arizona Attorney General backs the legislation, which is aimed at preventing another foreclosure crisis in the state.
A growing number of foreclosures in the Phoenix area are on "negative am" mortgages, which allow borrowers to pay less than what they owe in principal each month. But then those homeowners have to make up what they …

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Posted by CatherineReagor’s Blog

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Arizona’s late mortgage payments climb

May 29, 2009 By Leave a Comment

Arizona’s mortgage deliquency rate climbed to 9.66 percent during the first quarter.
That rate is up less than half a percentage point from the end of 2008, acccording to the Mortgage Bankers Association. Arizona’s mortgage deliquency rate is doesn’t include home loans that are in foreclosure.
The number of people behind on their mortgage payments usually falls in the first quarter as people use tax returns to catch up on bills.
The deliquency rates on prime adjustable and fixed rate mortgages in Arizona both climbed, while the the deliquency rate on the state’s FHA loans fell.
Arizona has the 7th highest mortgage deliquency rate …

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Posted by CatherineReagor’s Blog

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New home sales climb in metro Phoenix

May 29, 2009 By Leave a Comment

In March, there were 200 more new homes sales across the Valley than the month before. That may not sound like much, but it’s significant in the current slowdown.
Last month, 9124 new homes sold across metropolitan Phoenix, a 28 percent4 increase from February, according to RL Brown’s latest Phoenix Housing Market Letter.
Even better for the market is that many of the new homes to sell recently were built last year or the year before either speculatively or for buyers who pulled out of deals. Depleting the inventory of built but unsold homes will help the area’s home building market …

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Phoenix apartment rents draw for college grads

May 15, 2009 By Leave a Comment

Metro Phoenix named one of best places for recent college graduates to locate because of low apartment rents.
A new survey from Apartments.com and CBcampus.com puts Phoenix in the top U.S. cities for grads to move to. The survey puts Phoenix’s average rent for an apartment at $747 a month.
 

Phoenix’s rents are cheaper than Philadelphia, Baltimore and New York, which rank higher on the list. But the was also based on the number of entry-level job openings available and most popular resident populations for young adults.
 
 

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Valley resales up, prices down just slightly

May 15, 2009 By Leave a Comment

Existing home sales climbed in metropolitan Phoenix during April, while prices showed signs of stabilizing, according to data released this morning from the Realty Studies department at Arizona State University.
 Last month, 6,640 existing homes changed hands, up from the 5,940 recorded in March. Home sales have nearly doubled from April 2008, primarily due to the the many foreclosure homes reselling across the Valley now. 
The median price of a Valley resale did fall to $125,000 in April, from $127,000 in March. Median existing home prices have been steadily falling his year, but the $2,000 drop between April and March is the smallest decline so far. The Valley’s median resale price …

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Mortgage modification scams on the rise in Arizona

May 15, 2009 By Leave a Comment

A growing number of private firms are offering loan modifications to struggling Arizona homeowners, but too many are taking borrowers money and offering little help.

The first story in a series on regulatory change needed to crackdown on real estate and mortgage fraud will run on the front page of the Arizona Republic this Sunday. The first investigative piece in the series is on home loan modification scams.

Today, Arizona Governor Jan Brewer cautioned consumers against working with unlicensed third parties to modify their home loans.

“With the rising number of foreclosures and subsequent new programs available to help and advise homeowners, Arizonans …

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W HAMMOND LANE, BUCKEYE, AZ — 0bed/0bath — $195,000

May 12, 2009 By Leave a Comment

00 W HAMMOND LANE, BUCKEYE, AZ — 0bed/0bath — $195,000

Contact Monica Weiser at 602.358.6061 — Beautiful horse property waiting for you. Enjoy the surrounding views while you walk the community.

More info on the original post of thisPhoenix Real Estate Listing here.

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12513 E LUPINE AVENUE, SCOTTSDALE, AZ — 3bed/2bath — $475,000

May 6, 2009 By Leave a Comment

12513 E LUPINE AVENUE, SCOTTSDALE, AZ — 3bed/2bath — $475,000

Contact Ron Hafezi at 602.524.8061 –

More info on the original post of thisPhoenix Real Estate Listing here.

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2647 E TURQUOISE DRIVE, PHOENIX, AZ — 4bed/3bath — $189,900

May 4, 2009 By Leave a Comment

2647 E TURQUOISE DRIVE, PHOENIX, AZ — 4bed/3bath — $189,900

Contact Leslie Guiley at 480.216.0950 — Estate sale! Long time family home in great neighborhood with mid century style. Work done in the past few years includes roof replacement, exterior paint and replacement of pump and lights at courtyard fountain and new front doors. All indoor cosmetics are in near original condition and await your creative vision! Property sold as is and limited disclosures available.

More info on the original post of thisPhoenix Real Estate Listing here.

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