Scottsdale-based Meritage Homes building up a 2010 profit

April 14, 2010 By Leave a Comment

To survive the housing crash, home builders had to slash prices, cut costs and find ways to compete with foreclosures.
Scottsdale-based Meritage Homes is one of the industry’s survivors. The company, metropolitan Phoenix’s only publicly-traded home builder, is on track to make a profit this year, says CEO Steve Hilton.
The builder is selling more homes than a year ago, experiencing fewer cancellations from buyers, receiving a hefty tax refund and has completed a large financing deal.
Meritage Homes closed on a $200 million private placement offering Tuesday. The deal helps the Scottsdale-based home builder to pay off some of its senior notes …

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Phoenix firm Radical Bunny ordered to pay $189.8 million to real estate investors

April 14, 2010 By Leave a Comment

Phoenix-based Radical Bunny LLC has been ordered by the Arizona Corporation Commission to pay $189.8 million in restitution to its investors.
After a 22-month investigation, the Corporation commission has found that Radical Bunny fraudulently sold unregistered deed-of-trust investments. The group, which raised money from almost 900 investors and then lent it to Mortgages Ltd., was not registered as a securities dealer.
Investors in Radical Bunny were told that their money would be used to purchase fractionalized interests in notes secured by real-estate deeds of trust. However, the Corporation Commission found that Radical Bunny pooled investor funds to make unsecured loans to Mortgages …

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Why Phoenix Real Estate is a Good Choice

March 13, 2010 By Leave a Comment

For those who are relocating to Phoenix, Arizona or current residents who may be looking for a new home, the best choice is to use a reputable Phoenix real estate agency to help you find one of the Phoenix homes for sale. Attempting to locate Phoenix homes for sale without using a Phoenix real estate agency can be a frustrating and lengthy process because of all the Phoenix homes that are available on the market at any given time. One of the best reasons to contract with a Phoenix real estate agency is to make it easy for buyers to find Phoenix AZ real estate and for sellers to connect with buyers who are looking for real estate in Phoenix, Arizona.

Although it is possible to find some properties that are available directly from the sellers, most Phoenix real estate is listed with an agency in order to make the process flow smoother and to allow buyers to have access to a larger network of Phoenix homes for sale. Working with a Phoenix, Arizona real estate agent can help a seller with presenting his home to the largest community of buyers. Although newspaper advertising may work for some things a person sells, it is much more practical to sell your home through a realtor.

For the seller utilizing the services of a Phoenix, Arizona real estate agency means he does not have to do any advertising, be responsible for showing the home, or negotiating the price of the home. In fact, most real estate agencies prefer the seller to leave the home when they are selling in order to prevent the seller from providing any negative feedback to the potential buyer. Leaving everything up to a Phoenix real estate agency takes the responsibility of presenting the property from the seller to the real estate agent who is more experienced in how to secure the sale of Phoenix homes.

One of the most important things is for a buyer to work with his own Phoenix real estate instead of using the services of the listing agent. This protects the buyer because the listing agent is working in the best interest of the seller rather than the buyer. It is essential for the buyer to have someone who does not have a vested interest in the seller and therefore will work with a buyer to help him or her find the property they want. Realtors work from both the seller’s and the buyer’s angle which is why it is essential for a buyer to secure his own real estate agent and settlement attorney. Buying a home is the biggest investment you will make, and you want to be sure the transaction proceeds smoothly and there are no problems that may develop after the sale is closed.

Wayne Hemrick provides an intriguing look into the world of Phoenix real estate

investment. For Real Estate Investors in AZ considering one of the many Phoenix homes for sale, this is a worthwhile read.

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Phoenix Mayor awarded land planning fellowship

March 13, 2010 By Leave a Comment

Phoenix Mayor Phil Gordon garners fellowship with the Urban Land Institute’s Daniel Rose Center for Public Leadership in Land Use.
He joins the mayors of Nashville, Minneapolis and Philadelphia in the program designed to help city leaders build and sustain their cities.
“Mayor Gordon and his administration have demonstrated a commitment to sustainability through investments in planning, building retrofits and solar energy,” said ULI Chief Executive Officer Patrick Phillips.   “We believe that, through the Daniel Rose Fellowship, ULI can bring its global expertise to bear as they embark upon making Phoenix a competitive, world-class city.”
Gordon has picked a team to help him …

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New president at Realty Executives

March 13, 2010 By Leave a Comment

Dominic Scappaticci has left Russ Lyon Sotheby’s Phoenix office to become president of Realty Executives.
John Foltz, Realty Executive former president, will become president emeritus and handle speaking and coaching events for the Phoenix-based brokerage.

"Dominic joins us from a prominent real estate company locally and has a long, successful tenure with some of the nation’s top real estate firms," says Rich Rector, owner and chairman of Realty Executives, which has 1,300 agents in the Valley.
Scappaticci started his real estate career with Realty Exeuctives in 1975.
 
Rector also said "We have been honored to have John Foltz as the president and designated broker …

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Key indicators from Phoenix's Housing Market

March 13, 2010 By Leave a Comment

There are some positive signs coming from metropolitan Phoenix housing market. Foreclosures dropped slightly in September while home prices inched up again.
Last month, lenders foreclosed on 3,759 Valley homes, an almost 5 percent drop from August, according to the Information Market. It’s the second month in a row foreclosures, or trustee sales, have fallen. Pre-foreclosures also dropped in September, a good sign there will be another decline in foreclosures this month. There were 7,857 pre-foreclosures, or notice of trustee sales, filed by lenders last month. That’s an 11 percent drop.
There’s been a big push by the government and nonprofits for …

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Ariz. lenders offer help for home buyers

March 13, 2010 By Leave a Comment

The Arizona Mortgage Lenders Association is teaming with several government housing agencies to hold the Home Buyer’s Fair 2009 on Saturday Oct. 17th.
 The free event offers help on: the $8,000 tax credit for first-time home-buyers; buying a home with no money down; credit requirements and repair; qualifying for a mortgage and buying a foreclosure home.
The Mortgage Lenders Association is working with the Phoenix office of the Department of Housing and Urban Development, Consumer Credit Counseling and several city housing agencies to put on the event, which starts a 10 a.m. at the Glendale Renaissance Hotel. Details: www.azmortgagelenders.com.
  …

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Check out Valley Home Values

March 13, 2010 By Leave a Comment

There’s no doubt its been a tough year for metro Phoenix’s housing market. But some areas are showing smaller declines than last year.
Foreclosures homes resold by lenders continue to dominate the market, but the marketshare for those homes is shrinking.
Check out Valley Home Values at homevalues.azcentral.com to see what home sales and foreclosures are doing to prices in each metro Phoenix ZIP code. …

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What will it take for Arizona to keep growing?

March 13, 2010 By Leave a Comment

Or more importantly, what will it take for metro Phoenix to draw more quality jobs and keep growing?
Check out azcentral.com’s virtual town hall on creating jobs. It stars at 11:30 a.m. today.
 
 Economic development expert Ioanna Morfessis and Goldwater economist Byron Schlomach will answer questions and address the topic key to Arizona’s continued growth.
Growth is key to the Valley’s housing market’s recovery. 
  …

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Phoenix apartment rents dip, again

March 13, 2010 By Leave a Comment

The average rent for a Valley apartment slipped again, according to new data from research firm RealFacts. 
The typical Phoenix-area apartment now costs $761 a month to rent, down almost 1 percent from the second quarter of this year. The area’s apartment vacancy rate is at 12.8 percent, down 2.5 percent from last year.
"It’s a bad time to be a landlord," said Jay Butler, director of Realty Studies at Arizona State University.
Metro Phoenix Apartment owners are giving away free rent, TVs, Ipods and scooters to attract renters.
Butler said he recently saw a sign on a Phoenix apartment complex offering a deal …

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