Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
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08/17/08
Arizona’s first W Hotel prepares for Labor Day launch
Filed under: General, Business, Real Estate
Posted by: Lillian Wong @ 5:10 pm

Arizona’s first W Scottsdale will open Sept. 5 in Old Town Scottsdale — significantly later than originally planned by developer Triyar Hospitality Inc.  more…

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Former mayor, Paul Johnson, driving $500M real estate equity fund
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:09 pm

Former Phoenix Mayor Paul Johnson is putting together a $500 million real estate equity asset management fund and wooing U.S. and foreign institutional investors.  more…

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Title firm fined $600,000 for missteps on liens
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:06 pm

Efforts to crack down on bad real-estate deals and illegal mortgage activities continue in Arizona.  more…

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Private financiers in the spotlight
Filed under: General, Mortgages
Posted by: Lillian Wong @ 5:04 pm

For years Arizona’s “hard-money” real-estate lenders have operated in relative obscurity, quietly raising billions of dollars from investors to fund thousands of developments across the state.   more…

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More condo projects reverting to rentals
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:02 pm

Since the first quarter of 2007, more than two-thirds of condominium-conversion projects in Tempe, Chandler and Gilbert have reverted to rental properties, according to Mark Taylor, a development company in Scottsdale that tracks condo conversions by region.   more…

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Mortgages Ltd. use of law firm ruled OK
Filed under: General, Mortgages
Posted by: Lillian Wong @ 5:00 pm

Law firm Greenberg Traurig, whose involvement in Mortgages Ltd.’s bankruptcy has been a lightning rod since the start of the case, can serve as special counsel for the real-estate lender, Judge Randolph Haines has decided.   more…

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Trust-land initiative tossed due to lack of signatures
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:57 pm

Environmentalists said Friday that they would fight Secretary of State Jan Brewer’s decision to throw a state-trust-land reform initiative off the ballot.  more…

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Land firm files for bankruptcy
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:56 pm

A land-investment firm founded in 2005 by the president of Scottsdale home builder Elite Homes Inc. has filed for bankruptcy protection, adding its name to a growing list of housing-industry businesses unable to pay their creditors.   more…

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Vacancy rocks NE Phoenix strip centers
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:53 pm

Vacancies in Phoenix shopping centers are common but changes in the economy, shopping patterns and retail practices may be hitting the retail market in unexpected ways.   more…

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SEC short-selling ban on Fannie, Freddie to end
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 4:49 pm

WASHINGTON - A government order expires Tuesday that temporarily banned a certain kind of short-selling of the stocks of mortgage finance companies Fannie Mae and Freddie Mac and 17 large investment banks.   more…

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(Cheap) available apartments
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:46 pm

With more homeowners losing their homes to foreclosure, and home sales slowing the rental market has been flooded with potential tenants. But what could have been a boon for apartment complexes never has materialized.   more…

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Developer, city continue condo clash
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:42 pm

A downtown redevelopment project that would replace 70 apartments with nearly 100 condominiums is stalled on the launching pad.  more…

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Price dip spurs Pinal’s resales
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:39 pm

A continued decline in median-home prices drove second-quarter home-resale transactions up 40 percent in Pinal County from the first quarter, say the latest resale numbers from Arizona State University.  more…

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Fed: More banks tighten lending standards
Filed under: General, Mortgages
Posted by: Lillian Wong @ 4:34 pm

WASHINGTON — More banks are tightening lending standards on home mortgages and other consumer and business loans as a deepening credit crisis exerts a heavier toll on the economy.  more…

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Mortgages Ltd. plans legal action against borrowers
Filed under: General, Mortgages
Posted by: Lillian Wong @ 4:29 pm

Bankrupt real-estate lender Mortgages Ltd. plans to begin foreclosing on properties being developed by two of its largest borrowers.   more…

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Builder oversight office to lose 39 jobs
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:25 pm

The Phoenix city department that oversees new construction is facing a third round of layoffs amid a slowdown in commercial construction.  more…

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