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September 2009
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09/12/09
Bidding wars snarl the housing market
Filed under: General, Real Estate
Posted by: Lillian Wong @ 6:36 pm

It should be the best time to purchase a home in decades.

Prices are at record lows. Many, if not most, of the houses on the market in areas such as Ahwatukee Foothills are owned by banks - not emotional and capricious homeowners.

Instead, even seasoned real-estate agents say it’s the most difficult market they have worked in decades.  more…



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Foreclosed purchase can cost you time
Filed under: General, Real Estate
Posted by: Lillian Wong @ 5:06 pm

Time is money for buyers of distressed Valley homes.

They can get bargain prices on short sales or bank-owned properties, but the transactions can take longer than conventional real-estate deals.  more…



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Ex-execs take over stalled projects
Filed under: General, Business, Real Estate
Posted by: Lillian Wong @ 4:31 pm

Opus West Corp. is no longer doing business, but two former executives said they are making sure the bankrupt Phoenix developer’s stalled Valley construction projects are completed and put to use.   more…



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Council grants Waveyard more time
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:22 pm

With a do-or-die deadline only four months away, a mixed-use project pitched to be the Valley’s No. 1 tourist destination got a new lease on life Thursday.  more…



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Lower rents likely as more investors buy apartments
Filed under: General, Real Estate
Posted by: Lillian Wong @ 4:08 pm

Rent prices are likely to fall significantly in the coming months as a growing number of commercial real-estate investors buy up struggling apartment communities, according to some local real-estate analysts.   more…



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As deadline looms, Phoenix may sell historic properties
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:55 pm

After spending federal money to acquire properties for a light-rail station and park-and-ride facility at Central Avenue and Camelback Road, Phoenix now faces having to sell the properties.

Deputy City Manager Ed Zuercher recently told the Transportation and Infrastructure Subcommittee the city is facing a deadline to sell the seven unused properties - two vacant lots and five historic homes on West Mariposa Street.   more…



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Theft of fixtures becomes major risk in foreclosures
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:26 pm

With a $165,000 price tag, the two-story, four-bedroom house for sale in Avondale was a steal.

Three years ago, when the house was new, a family paid $416,000 for it.

But its soaring living-room ceiling, whirlpool bath, three-car garage and pool with a slide and waterfall weren’t enough to make it much more than a handyman’s special. Thieves made off with the home’s $30,000 custom-kitchen and other fixtures after it went into foreclosure.   more…



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