Arizona Real Estate News Access
All the real estate and mortgage news you need to know in Arizona
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05/24/09
What Must Rise First: Homes Or Economy?
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:30 pm

The housing market’s three-year slide could be nearing a bottom, some indicators suggest, in what would be a positive sign for the whole U.S. economy.  more…


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Big US towers going cheap in distressed market
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:48 pm

NEW YORK (AP) — The 40-story skyscraper sits on a prime corner in the country’s wealthiest commercial market, steps from the Museum of Modern Art and a few blocks from Rockefeller Center and Central Park.

 

It recently sold for $100,000.  more…

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Investors in charge of revamped Valley lender
Filed under: General, Real Estate, Mortgages
Posted by: Lillian Wong @ 3:45 pm

The investors who stand to lose millions of dollars in failed commercial real-estate lending venture Mortgages Ltd. now are in control of the company as it emerges from bankruptcy proceedings.  more…


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Home strippers face arrest in crackdown
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:40 pm

The Northeast Valley’s battered real-estate market is getting a federal bailout of sorts from an unusual source.

FBI agents and local law-enforcement personnel have arrested five people in the past month for stripping their foreclosed homes of appliances, cabinets, countertops and plumbing fixtures.  more…


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New firm managing Wigwam resort in Litchfield Park
Filed under: General, Business, Real Estate
Posted by: Lillian Wong @ 3:08 pm

The company that runs the swank Royal Palms Resort & Spa has temporarily taken over management of the financially troubled Wigwam Golf Resort & Spa in Litchfield Parkmore…


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Properties surrounding PV Mall being sold
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:01 pm

The company that owns Paradise Valley Mall is selling property surrounding the northeast Phoenix mall, which is struggling with vacant storefronts inside the mall.

Macerich, the Santa Monica, Calif., company that owns Westcor, the owner of Paradise Valley Mall and other Valley shopping centers, has hired Faris Lee Investments to market at least 12 single-tenant pads around the mall.  more…


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Luxury condos proposed for One Scottsdale
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:53 pm

Luxury senior-living condominiums would join Dial at the One Scottsdale development under plans submitted to the city this month.

Ryerson Development and Marketing LLC proposed building 320 condos and 50 assisted-living apartments in four buildings of up to five stories. A total of 825,000 square feet would be built on 13 acres northeast of Scottsdale Road and Loop 101.  more…

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Vacant parcel to be sold
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:44 pm

A trustee’s sale is scheduled for July 9 for a vacant parcel at Tatum Boulevard and Greenway Road, where neighbors had opposed plans to put up a 550-unit apartment complex with a strip shopping development on the corner.  more…


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Villa owners up in arms over unpaid rental revenue
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:31 pm

The company that operates the bankrupt Carefree Resort and Villas is involved in legal wrangling with villa owners, who claim they are owed hundreds of thousands of dollars in unpaid rental pool revenue, court documents show.

Carefree Mule Train Ventures, LLC filed for Chapter 11 bankruptcy in November. The company owns and operates the prominent resort surrounded by desert in the far Northeast Valley.

Marcus & Millichap, an investment real-estate brokerage firm, was hired to solicit buyers for an upcoming auction of the property.   more…


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