Fred Unger, the magic touch behind The Royal Palms and The Hermosa Inn, has taken on a full partner in the Hermosa property, which is set to begin a $44 million renovation project next summer. More…
The Falls at Desert Ridge, a 3,700-home development near 40th Street and
In the lower end of the real-estate market, on the wrong side of
Mortgage relief is coming, but it won’t help all cash-strapped homeowners, including thousands of Arizonans who face a pending rise in their monthly payments. President Bush on Thursday announced a deal with lenders that will freeze interest rates for five years or provide other help to some spotty-credit borrowers with subprime loans. More…
With all the fuss about subprime mortgages, what exactly is one, anyway? Most of the media coverage on this week’s White House mortgage-relief plan has skirted that basic question, and for good reason. Subprime loans are easier to spot than define. More…
WASHINGTON (AP) - Be ready to wait if you want to get information from a toll-free hot line about freezing the interest rate on your subprime mortgage. Minutes after President Bush outlined a plan to help strapped homeowners, callers were told to have patience until a counselor could answer their questions and “devote as much time to you as necessary.” More…
NEW YORK - Homeowners started losing hold of their homes years before spiking foreclosures and the housing slump slammed the economy. Piece by piece, some gave away their homes by tapping equity to take cash out to pay for cars, weddings and vacations. Others never owned one brick. During the country’s most recent housing boom, the term “homeowner” became a misnomer as lenders offered 100 percent or more home financing to some buyers. More…
Housing problems and other financial woes continue to push many Arizonans toward bankruptcy, with November filings hitting the second-highest monthly total of the year. More…
Real-estate activity in the Scottsdale Airpark, one of Arizona’s largest employment centers, will slow down in 2008 as the effects of the housing slump continue to hit home-furnishings businesses and mortgage brokers. More…
Casino Arizona said Wednesday that it has started construction on a 15-story hotel and casino along
There may be a lot of talk about recession of late, but the stock market doesn’t appear to be buying into any of it. Most stock-market barometers are back within several percentage points of their record highs - the Dow Jones industrial average climbed nearly 200 points Wednesday - and prices have rallied in recent days. More…
As economists try to predict what will happen in 2008, the biggest unknowns are the housing market, gasoline prices and the possibility of a recession. More…
KANSAS CITY,
ATLANTA - Beazer Homes USA Inc. will continue offering discounts to move inventory in a sluggish housing market, but financial and internal troubles aren’t forcing the company into a fire sale, a senior executive said Tuesday. More…
Surprise will reimburse a private home builder for the infrastructure costs required to build an 841-acre section of a housing community in unincorporated
Valley developer Jimmy Evans is bucking real-estate wisdom: He has built a $1.3 million house in an older Tempe neighborhood where the average house is worth about $300,000. More…
Gilbert has its eyes on 40 acres of former dairy land that would become home to its own public-safety training complex. More…
NORTHEAST PHOENIX - A new 279-acre Desert Ridge development will get its first formal zoning hearing tonight before Phoenix’s Desert View Village Planning Committee. More…