Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
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04/20/08
Bull market for Bear traders
Filed under: General, Mortgages
Posted by: Lillian Wong @ 7:44 pm

(Fortune) — Last month’s near collapse of Bear Stearns hasn’t reduced demand for the firm’s top traders and salesmen in the mortgage-backed-securities business they once dominated.  more…

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Lender, developer of Chateaux on Central in flap over high-profile property
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 7:33 pm

The developer of Chateaux on Central has filed a lawsuit against local lender Mortgages Ltd., with allegations including breach of contract.   more…

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Lee Lee Supermarket flexes muscle
Filed under: General, Business
Posted by: Lillian Wong @ 7:19 pm

The owner of a mega-Asian market in Chandler that sells products from 30 countries is opening a second store this month in Peoria, at 75th Avenue and Cactus Roadmore…

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Trust-land divisions rekindled
Filed under: General, Real Estate
Posted by: Lillian Wong @ 7:15 pm

A proposed citizens’ initiative to conserve at least 570,000 acres of state trust land is drawing outrage and applause as longtime foes prepare to face off once again.  more…

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Westcor adds land to SanTan Village project
Filed under: General, Real Estate
Posted by: Lillian Wong @ 7:11 pm

Mall developer Westcor has bought about 29 acres in Gilbert adjacent to SanTan Village for $32.7 million. Real-estate analysts say the price - about $25 per square foot - is a premium but makes sense because of amenities in the immediate area.  more…

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Foreclosures causing other problems for Phoenix
Filed under: General, Real Estate
Posted by: Lillian Wong @ 7:06 pm

Lower revenues in several city departments, lower tax collections and higher numbers of houses sitting vacant are some of the impacts the nation’s foreclosure crisis is having on Phoenixmore…

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Meritage Homes plans to offer 4 million shares
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:58 pm

Meritage Homes Corp., the U.S. builder that sells most of its homes in Texas, Arizona and California, plans to sell up to 4 million shares of stock in a public offering. The underwriters will have the option to purchase up to an additional 600,000 shares, Scottsdale-based Meritage said Wednesday. Citi Markets & Banking will lead the share sale, and Meritage plans to use the proceeds for working capital and general corporate purposes.

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Elevation Chandler bankrupt, can’t be sold
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:56 pm

Developer Jeff Cline filed papers Friday under Chapter 11. By doing so he held onto the stalled high-rise project south of Chandler Fashion Center just days before it was to be sold at auction.  more…

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Housing rescue being fine-tuned
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:49 pm

WASHINGTON - Congressional Democrats and President Bush will agree on a bill to help half a million or more struggling homeowners get into lower-cost mortgages, but it won’t be through the bankruptcy courts, the chairman of the House Financial Services Committee predicted Tuesday.  more…

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Hopes rise on sales, inventory
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:46 pm

Home prices continue to slump in Scottsdale but Realtors are encouraged by a decline in inventory and a pickup in pending sales.  more…

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Market changes for office condo developers
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:43 pm

Developers of so-called “office condos” market the properties as a way for entrepreneurial businesses to increase their company’s worth by owning their workspace instead of leasing a suite.  more…

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AP poll: Mortgage payments worry many
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 6:35 pm

WASHINGTON — One in seven mortgage holders worry they may soon fail to make their monthly payments and even more fret that their home’s value is shrinking, according to a poll showing widespread stress from the nation’s housing crisis.  more…

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City buying land around Sky Harbor
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:28 pm

Arizona’s largest airport is on a multimillion-dollar real-estate shopping spree.  more…

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Tempe lakeside development advances
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:24 pm

Scottsdale-based Wolff Co. is moving forward on a mixed-use project at Tempe Town Lake that eventually could house 3.6 million square feet of residential, office, retail and hotel space.  more…

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Cave Creek pushes annexation for trust land
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:18 pm

Cave Creek will do more than preserve 4,300 acres of pristine desert if it annexes 8.8 square miles of mostly Arizona trust land.   more…

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