Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
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September 2008
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09/14/08
Leaders weigh in on Fannie Mae, Freddie Mac failure, fed bailout
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 6:19 pm

While the federal takeover of embattled mortgage giants Fannie Mae and Freddie Mac was expected, the long-term impact of the colossal bailout won’t materialize for years. It likely won’t be until long after this real estate and mortgage crisis ends.   more…

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Legal war rages on in W. Valley land effort
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:14 pm

Managers of a West Valley real-estate enterprise who successfully overcame a fraud lawsuit earlier this year have filed a civil complaint against the plaintiffs, claiming they cost investors more than $50 million by sabotaging a land sale as the real-estate market peaked.  more…

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Mortgage help a hot topic at Ariz. conference
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:11 pm

At last year’s Arizona Housing Department conference, the talk was about preparing for an expected onslaught of foreclosures.  more…

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Home resales fell in August, up from 2007
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:08 pm

Resale transactions for detached, single-family homes took an expected slide in August as the Valley entered its typically slower late-year sales period, according to an Arizona State University report released Friday.  more…

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Getting a loan is tough, here’s what you need to know
Filed under: General, Mortgages
Posted by: Lillian Wong @ 6:06 pm

With tighter lending standards and a slumping housing market, opening the door to a home of your own is more challenging that it has been in years.  more…

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CityScape developer lands $200 million
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:03 pm

The developer of downtown Phoenix’s CityScape project will draw on $200 million in funds for current and future projects under a new partnership with a Texas investment-management firm.   more…

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High rise goes up, but tenants are scarce
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:00 pm

The concrete-and-steel frame of the One Central Park East office high-rise has been rapidly rising near Van Buren and First streets.   more…

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Lehman shares continue free fall
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 5:55 pm

NEW YORK — Lehman Brothers’ shares sank further on Friday as top executives raced to put a sale of the beleaguered investment bank in place.  more…

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Lehman Brothers puts assets up for sale
Filed under: General, Mortgages
Posted by: Lillian Wong @ 2:18 pm

NEW YORK - Lehman Brothers, in a desperate bid to survive, announced plans Wednesday to sell a majority stake in its prized investment-management business and said a sale of the entire company is possible.  more…

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John C. Lincoln buys 20 acres for $14.2 million
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:14 pm

John C. Lincoln Health Network has spent $14.2 million to purchase 20 acres and three buildings near its Deer Valley hospital to move its administrative functions there.   more…

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Developer, city both met goals with new project
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:12 pm

Dave Inman was looking for a place to build his vision. Glendale planners were looking for signature projects that would set the tone for development near Loop 101.   more…

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Surprise takes hands-on approach to real-estate crisis
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:09 pm

Surprise, like nearly every city in the Valley, is seeing its neighborhoods and home values wracked by foreclosures. But rather than rely on the housing-market cycle or federal and state initiatives to deal with the crises, the city is seeking its own remedies.   more…

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Washington Mutual ousts CEO Kerry Killinger
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 2:04 pm

NEW YORK - Washington Mutual Inc., ravaged by losses from sour mortgages, removed Kerry Killinger as chief executive of the nation’s largest savings and loan on Monday, adding him to the growing list of banking bosses ousted by their boards.  more…

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Stocks climb amid optimism over bailout of mortgage giants
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 2:00 pm

NEW YORK - Stocks rallied Monday as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government’s move to bail out mortgage giants Fannie Mae and Freddie Mac. The Dow Jones industrials gained nearly 300 points.  more…

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Rescue poses risks for taxpayers
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 1:58 pm

WASHINGTON - President Bush’s “ownership society” was never supposed to come to this. With the government takeover of Fannie Mae and Freddie Mac, U.S. taxpayers now essentially own the bulk of the nation’s mortgage market.  more…

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Mortgage industry welcomes federal fix
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 1:56 pm

The government takeover of mortgage giants Fannie Mae and Freddie Mac instantly made it cheaper and easier to get a fixed-rate mortgage in Arizona and around the country.  more…

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Bailout of Fannie Mae and Freddie Mac not a cure-all
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 1:53 pm

NEW YORK - The government’s historic bailout of Fannie Mae and Freddie Mac on Sunday will be good news to home buyers and some homeowners hoping to refinance if it leads to lower mortgage rates, as experts expect.  more…

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Credit freeze helps thwart ID thieves
Filed under: General, Business, Mortgages
Posted by: Lillian Wong @ 1:51 pm

Mr. Freeze is bad. Credit Freeze is good. OK, so you’ll never see Credit Freeze in a comic book battle of good against evil wearing a cape and long underwear. But like other superheroes, it can protect you from the bad guys.  more…

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Land initiative not on ballot
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:49 pm

Pinal County must wait longer to get help developing its state trust land, which makes up about 35 percent of the county.  more…

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09/07/08
U.S. takes control of mortgage giants Freddie, Fannie
Filed under: General, Real Estate
Posted by: Lillian Wong @ 1:38 pm

WASHINGTON - The Bush administration, acting to avert the potential for major financial turmoil, announced Sunday that the federal government was taking control of mortgage giants Fannie Mae and Freddie Mac.  more…

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