Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona

January 2007
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County is preparing to sell tax liens
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:30 pm

Your homeowners association, church, business or even your home may have a tax lien that you may not know about. Unless resolved, the lien will be sold Feb. 1.  More…

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Westcor to take 8 malls ‘higher’ with new looks
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:20 pm

From Paradise Valley Mall in the northeast to Desert Sky Mall in the southwest, seven malls in the Valley and one in Flagstaff will go under the knife this year, bringing new stores and looks to the places you shop. The malls’ owner, Phoenix-based retail developer Westcor, will revamp more than half of its malls in the Valley, making it the company’s most significant investment in renovation.  More…

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Better days are forecast, but at a cost
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:13 pm

Metropolitan Phoenix’s ailing home-building business got a prescription for a return to health Thursday, but some of the medicine may be hard to swallow. Analysts RL Brown and Greg Burger told a crowd of about 1,300 housing and development professionals at the Desert Ridge Marriott that Phoenix’s new-home market will get better after this year. But that is expected to happen only if builders get serious about such things as reducing speculative-home inventory and prices and making a bigger commitment to service.  More…

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Biggest existing home sales drop in 17 years
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:04 pm

WASHINGTON - Sales of existing homes fell in December, closing out a year in which demand for homes slumped by the largest amount in 17 years. The National Association of Realtors reported that sales of existing homes were down 0.8 percent last month, a bigger decline than had been expected. For the year, sales fell by 8.4 percent, the biggest annual decline since 1989, when existing home sales fell by 14.8 percent. The sales figure underscored the sharp contraction that is going on in the once high-flying housing market, which before last year had set sales records for five straight years.  More…

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$350 million: WGA area is hot
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:55 pm

It’s become one of the hottest addresses in the Valley’s industrial real estate market, and observers say the Williams Gateway area should only continue to draw interest as the former Air Force base continues to take shape as a commercial and industrial hub. In the past 18 months, investors and developers have spent nearly $350 million buying land surrounding the airport.  More…

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2006 resale home market in Phoenix area slumps
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:51 pm

With 4,620 sales recorded in December, the 2006 resale home market in Greater Phoenix continued to slow, with 5,040 sales in November, and 6,480 sales a year earlier. This is the lowest level of activity for 2006 and the lowest for December since 4,785 sales were recorded in 2000, according to a report released this month by Arizona State University Polytechnic campus.  More…

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Westcor announces multimillion dollar renovations at Valley malls
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:42 pm

Valley mall developer Westcor will undertake a multimillion renovation campaign at six retail malls across the metro region and in Flagstaff. “We’ve never done this before. We are doing more to our portfolio starting now than we’ve ever done,” said David Scholl, Westcor’s senior vice president for development.  More…

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Mortgage rates continue upward trend while applications slow
Filed under: General, Mortgages
Posted by: Lillian Wong @ 5:35 pm

Longer term mortgage rates were up again, albeit only slightly, during the week ending January 18 according to Freddie Mac’s Primary Mortgage Market Survey. Despite the tiny increments the market has seen over the last four or five weeks, each of the mortgage products tracked by Freddie Mac has reached the highest levels seen since early to mid-November.  More…

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Arizona likely to outpace nation
Filed under: General, Business
Posted by: Lillian Wong @ 5:30 pm

Arizona’s economy will take a breather from red-hot growth this year but still will grow faster than the national economy, said Edward Prescott, 2004 Nobel Prize winner in economics and economics chair of the W.P. Carey School of Business at Arizona State UniversityMore…

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