Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
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December 2007
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12/29/07
Real Estate Briefs: Investor scores big on sale of Renaissance Square towers
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:29 pm

One of Denver’s premier real estate investors and developers stands to make a tidy profit when he closes on One and Two Renaissance Square in downtown Phoenix, most likely before the end of the year.   More…

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Commercial thrives, despite residential downturn
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:26 pm

A gigantic apartment complex portfolio and two downtown office buildings were among the largest commercial real estate deals of 2007, marking a year that sizzled in sharp contrast to the downtrodden residential sector.  More…

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Industry leaders forecast skittish real estate market, tough financing
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:23 pm

Crystal balls usually are in high demand at year’s end because of a desire to know what the future will hold. This year leaves the business community — and the real estate industry in particular — with even more questions about what’s in store for 2008 and beyond.   More…

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Local financial institutions bear brunt of rocky economic times
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:19 pm

As the subprime mortgage mess and credit crunch continue to eat big bank and investment firm profits, reverberations are hitting local community banks reliant on the real estate industry.   More…

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Townhouse project near stadium OK’d
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:16 pm

A 107-unit, urban-style townhouse project will go up cater-cornered to Surprise’s spring training stadium. The Lofts at Parkview Place will be part of a 69-acre urban campus surrounding the stadium that combines retail, restaurants, Class-A suburban office space and residential development.  More…

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State to audit Re/Max records
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:11 pm

The state Department of Real Estate has begun an audit of the records of Re/Max 2000, the Gilbert-based franchise that abruptly closed 13 offices right before Christmas, leaving 350 agents without a broker.  More…

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Agents: Closed Re/Max owes them $111,000
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:07 pm

More than $111,000 in commissions is owed to the agents who worked for Re/Max 2000, which closed its offices abruptly over the weekend, according to an affected agent.  More…

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New-home sales in Nov. hit 12-year low
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:04 pm

WASHINGTON - Sales of new homes plunged last month to their lowest level in more than 12 years, a grim testament to the problems plaguing the housing sector.  More…

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Pool builder: ‘Kickbacks’ cost homeowners millions
Filed under: General, Business, Real Estate
Posted by: Lillian Wong @ 2:02 pm

One of Arizona’s largest pool builders has taken to the air waves claiming that home buyers are being duped into spending thousands of extra dollars to put swimming pools in their new homes.  More…

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May 2006 marked the turning point for economy
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:00 pm

As bad news goes, May 2006 initially seemed like a hiccup for the construction industry in ArizonaMore…

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State to sell 205 acres of Desert Ridge land
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:57 pm

The Feb. 28 auction of 205.6 acres in Desert Ridge spells the beginning of the end.  More…

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Museum buys land for $14 millon
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:55 pm

The new Musical Instrument Museum has closed a $14.4 million deal to buy 21 acres at Tatum and Mayo boulevards for its new facility.  More…

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Set to build homes, without generators
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:53 pm

A Mesa builder and Salt River Project are working to short-circuit noisy, fume-spewing, cough-inducing generators on home construction sites.  More…

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Foreigners drawn to U.S. home market
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:51 pm

NEW YORK - Cosmopolitan cities such as New York and Miami have long served as second homes for affluent and accomplished foreigners. But the trend is growing. One in five American real- estate agents has sold a home to a foreign investor in the past year, according to the National Association of Realtors.  More…

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Housing may rebound in ‘08
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:49 pm

“We are in a down time, and many markets that overheated during 2003-2005, such as Las Vegas, Phoenix and Miami, are undergoing a natural correction,” says Jerry Howard, chief executive of the National Association of Home BuildersMore…

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Shuttered Re/Max may have future
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:45 pm

Owners of one of the Valley’s largest real-estate brokerages said Monday that there could be life for the franchise despite the immediate decision to close its 13 officesMore…

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12/24/07
Washington in a sweat over mortgage ills
Filed under: General, Mortgages
Posted by: Lillian Wong @ 3:40 pm

WASHINGTON - After a slow and stumbling start, Washington is scrambling to try to prevent the unfolding mortgage crisis from pushing the country into recession during an election year. There is a strong feeling, though, that the government will need to do more to avert a financial disaster.  More…

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Troubled year for housing in Valley
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:38 pm

A year ago, Phoenix housing counselor Joann Hauger spent her days helping people buy their first home.  More…

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Valley cities vie for parts in Super Bowl
Filed under: General, Sports
Posted by: Lillian Wong @ 3:35 pm

It’s Arizona’s Super Bowl, but Valley cities are competing for their piece of the action, including where the national news networks will stage broadcasts leading up to the February showcase.  More…

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Somber home builders see prices falling until 2009
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:31 pm

WASHINGTON - A trade group for home builders said Thursday that home-price declines won’t stop until early 2009, as a lethargic economy and troubled mortgage market drop the bottom even lower.  More…

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