Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
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August 2008
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08/09/08
The woman who called Wall Street’s meltdown
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 8:28 pm

(Fortune Magazine) — It’s the first time I’ve seen Wall Street’s toughest analyst look rattled. I’m sitting ringside at the WWE’s Great American Bash at New York’s Nassau Coliseum with Meredith Whitney - the Oppenheimer & Co. analyst renowned for her smackdowns of America’s biggest banks.  more…

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Office vacancies on the rise
Filed under: General, Real Estate
Posted by: Lillian Wong @ 8:24 pm

Look for lots of vacant office space in Scottsdale in the months ahead as the downturn in the housing and related sectors works its way through the Valley commercial real-estate market.  more…

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Mortgages get more expensive - again
Filed under: General, Mortgages
Posted by: Lillian Wong @ 8:12 pm

NEW YORK (CNNMoney.com) — The good news: Mortgage giant Fannie Mae is taking steps to shore up its finances. The bad news: You’re going to pay for it when you take out a mortgage.  more…

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SEC formally investigates Countrywide
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 8:10 pm

The Securities and Exchange Commission has escalated its scrutiny of Countrywide Financial Corp. into a formal investigation, according to a regulatory filing by Bank of America Corp.  more…

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How to gauge credit-worthiness
Filed under: General, Mortgages
Posted by: Lillian Wong @ 8:07 pm

LOS ANGELES - Decide to become a homeowner and, inevitably, you’ll have to confront your credit score.  more…

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Real-estate initiatives OK’d for ballot
Filed under: General, Real Estate
Posted by: Lillian Wong @ 8:03 pm

Two real-estate-related initiatives will be on the ballot in November after being certified on Friday by the secretary of state despite estimates that showed one fell below the number of signatures required.  more…

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Marley Park project to bring retail
Filed under: General, Real Estate
Posted by: Lillian Wong @ 7:51 pm

A $65 million retail project is planned in DMB’s Marley Park master-planned community.   more…

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Mortgages Ltd. faces securities inquiry
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 7:49 pm

Federal and state regulators have opened investigations into the dealings of Mortgages Ltd., Arizona’s biggest private commercial real-estate lender, and the firm called Radical Bunny that lent it almost $200 million.  more…

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Freddie posts 4th straight quarterly loss and slashes dividend
Filed under: General, Mortgages
Posted by: Lillian Wong @ 7:48 pm

NEW YORK (Reuters) - Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz), one of the major players in the U.S. mortgage market, on Wednesday posted its fourth straight quarterly loss as it braced for a prolonged housing market slump by setting aside twice as much money for bad loans and cutting its dividend by at least 80 percent.  more…

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Fraud aimed at renters, police warn
Filed under: General, Real Estate
Posted by: Lillian Wong @ 7:43 pm

It was a dream come true for a nine-member family from who found what was thought to be an ideal rental home in far north Peoriamore…

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Condo developers struggle, market to Canadian buyers
Filed under: General, Real Estate
Posted by: Lillian Wong @ 7:40 pm

Anybody want to buy a condo conversion? Not so much.  more…

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Worried Fed holds steady on key rate
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 7:33 pm

Confronted by problems at every turn - rising unemployment, shaky growth, credit troubles and creeping inflation - the Federal Reserve left an important interest rate unchanged, taking a gamble that for now the best move was no move at all.  more…

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Developers challenge bankruptcy by lender
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 7:30 pm

Developers worried about Mortgages Ltd.’s dwindling assets asked the U.S. Bankruptcy Court on Monday to convert the real-estate lender’s Chapter 11 bankruptcy case to a Chapter 7.  more…

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Investors say Minn. bank mismanaged loans
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 7:28 pm

A Minnesota bank, one of seven failed institutions taken over by the Federal Deposit Insurance Corp. this year, tanked in part because of a poorly performing real-estate investment in Surprise, a Spokane County, Wash., lawsuit alleges.  more…

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Uncle Sam’s tax credit an incentive to buy a home
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 7:26 pm

The new housing-relief bill will give some people an opportunity to hit a tax trifecta.  more…

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Bankrupt lender devising plan to aid towers
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 7:24 pm

Bankrupt real-estate lender Mortgages Ltd. is working on a plan to provide more financing to the developer of the Centerpoint condominium towers in downtown Tempe.  more…

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Model homes draw interest in Litchfield
Filed under: General, Real Estate
Posted by: Lillian Wong @ 7:19 pm

Gloria Pettis, 64, says she chose the Toll Brothers at Litchfield Park community because it was love at first sight.  more…

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Arizona Title Agency closes doors, 50 out of work
Filed under: General, Business, Real Estate, Mortgages
Posted by: Lillian Wong @ 7:17 pm

One of the state’s largest title agencies is out of business, and 50 of its employees are out of work.  more…

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44 Monroe luxury condos nearly ready
Filed under: General, Real Estate
Posted by: Lillian Wong @ 7:15 pm

The tallest residential high-rise in Phoenix is within three weeks of completion.  more…

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44th/Camelback proposals yet to yield activity
Filed under: General, Real Estate
Posted by: Lillian Wong @ 7:13 pm

Almost nothing has happened at 44th Street and Camelback Road more than a year after three proposed projects created huge levels of controversy in the Arcadia neighborhood.  more…

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