Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
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March 2008
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03/15/08
Data show how tough housing market is
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:26 pm

Ed Vitale knows it is not the best time to put a house on the market. Sales are down. Money is tight. In his area, sales of homes are down to their lowest number since 2002, when Vitale purchased in the neighborhood of 40th Street and Union Hills. Prices are down, too, to levels last seen in 2005.   More…

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Housing drop doesn’t erase long-term gain
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:24 pm

Home values in northeast Phoenix generally declined in the past year, and sales dropped off, too.  More…

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Developer revises Las Sendas plans
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:22 pm

A mix of shops, offices and posh condos situated around a centerpiece resort hotel and a meandering dry wash is the latest proposal to develop a vacant 51-acre site at Mesa’s biggest upscale community.  More…

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Northwest Valley business space sold
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:21 pm

Four large commercial centers have recently changed hands in the northwest Valley, which means several local businesses could be getting new landlords.  More…

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Bear Stearns bailed out by Fed, rival bank
Filed under: General, Mortgages
Posted by: Lillian Wong @ 1:19 pm

NEW YORK - Bear Stearns Cos., one of Wall Street’s venerable investment banks, received a bailout Friday by the federal government and JPMorgan Chase & Co. in a surprise, last-ditch effort to save the 86-year old institution.  More…


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Fed endorses rescue effort for Bear Stearns
Filed under: General, Mortgages
Posted by: Lillian Wong @ 1:16 pm

WASHINGTON - The Federal Reserve said Friday that it has voted to endorse an arrangement to bolster troubled Bear Stearns Cos. and stands ready to provide extra resources to combat a serious credit crisis.  More…

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Stricter mortgage rules proposed
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 1:14 pm

WASHINGTON - Economic policymakers on Thursday recommended stricter regulation of mortgage lenders as part of a broad effort to prevent a repeat of a credit crisis threatening to drive the country into recession.  More…

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Treasury leader criticizes plans to aid housing slump
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:12 pm

WASHINGTON - Treasury Secretary Henry Paulson said Thursday that many proposals being put forward to deal with the housing slump would do more harm than good.  More…

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Foreclosures even hurt the neighbors
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:10 pm

If your neighbors have lost their homes, you could pay the price when you try to sell or refinance — even if your credit is good.  More…

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Home-appraisal deal offers new protections
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:05 pm

New York Attorney General Andrew Cuomo said Monday that prospective home buyers will be protected from fraudulently inflated prices under an agreement with government-sponsored lenders Fannie Mae and Freddie Mac.  More…

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W. Valley hit hardest by homes in foreclosure
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:02 pm

New-home communities in the West Valley that led the local housing boom for sales are now plagued with the Valley’s highest foreclosure rates.  More…

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Home resales up in February
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:00 pm

It was a short month even with the leap year, but existing-home sales still climbed slightly in February.  More…

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Two office buildings sell for record $173M
Filed under: General, Real Estate
Posted by: Lillian Wong @ 12:54 pm

Two high-end office buildings north of Scottsdale Fashion Square have been sold in one of the priciest commercial real-estate transactions so far this year.  More…

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House OKs $250 mil property-tax cut
Filed under: General, Real Estate
Posted by: Lillian Wong @ 12:49 pm

Hours after the governor vetoed a bill that would have frozen nearly $600 million in state spending, the House of Representatives Tuesday passed a $250 million tax cut.  More…

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Fed moves to bolster lenders
Filed under: General, Mortgages
Posted by: Lillian Wong @ 12:46 pm

WASHINGTON - Staring at spreading financial dangers, the Federal Reserve announced a rescue package Tuesday that could pour as much as $200 billion into banks and investment houses and allow them to put up risky home-loan packages as collateral.  More…

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Economic woes lead to retail retrenchment
Filed under: General, Business, Real Estate
Posted by: Lillian Wong @ 12:44 pm

The signs that smaller retailers are struggling are unavoidable at malls across America: “Going out of business” sales at many Wilsons Leather stores. “Up to 70 percent off” at KB Toys.  More…

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Retail part of Downtown Ocotillo gaining speed
Filed under: General, Real Estate
Posted by: Lillian Wong @ 12:34 pm

The retail portion of south Chandler’s mixed-use project Downtown Ocotillo is going up fast. Now another developer has announced plans for a 37-acre business park across the street.  More..

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Tax incentives off table for development around stadium
Filed under: General, Real Estate
Posted by: Lillian Wong @ 12:31 pm

Surprise will no longer award tax incentives to developers building a massive commercial complex around Surprise Stadium, potentially saving the city up to $4 million.  More…

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Revival style
Filed under: General, Real Estate
Posted by: Lillian Wong @ 12:23 pm

Mary Leon has marveled at the meticulous care taken of Mesa’s oldest historic district since she attended Queen of Peace Elementary School in the century-old neighborhood. “It hasn’t changed at all,” the receptionist said as she fielded phone calls in the parish office. “It’s still beautiful.”  More…

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ASU-owned strip mall unchanged
Filed under: General, Real Estate
Posted by: Lillian Wong @ 12:20 pm

Two decades after Arizona State University began planning to redevelop the southwestern corner of University Drive and Mill Avenue, Tempe Center is still standing.  More…

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