Phoenix area home builders are struggling to sell homes. There has been a 56% drop in New home sales from June 2007 to June 2008 according to R.L. Brown’s housing report on the Phoenix area real estate market. The days of waiting in line to pay a premium for a home from a Phoenix new [...]
Archive | July, 2008
Planning on selling? Don't Upgrade your home!
Posted on 30 July 2008.
As a Real Estate Broker here in Scottsdale and the towns around Phoenix, I am asked by many sellers whether or not they should upgrade their homes in order to help them sell more quickly. Now, I know there are differing opinions on the subject. A well respected Associated Press author, J.W. Elphinstone wrote recently [...]
Flood Insurance required in the Phoenix Desert
Posted on 29 July 2008.
In many area of the country and in parts of Arizona water damage from floods are a serious issue. In fact, flooding is the leading natural disaster in the U.S., reports the Federal Emergency Management Administration. Flood losses averaged $2.4 billion a year the past decade. However, in Maricopa County which includes the dry towns of [...]
Ranking Arizona – Vote Best of Phoenix
Posted on 28 July 2008.
Ranking Arizona is which ranks the results of largest business opinion poll in Arizona. The Poll of the Greater Phoenix general public is a vote upon business and leisure activities of Arizona’s business professionals. Real Estate has several sub-categories including Active Adult Communities (Phoenix) Master-planned communities Small to mid-size local builders Real Estate Agents Luxury [...]
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Will the Housing Rescue Bill work ?
Posted on 27 July 2008.
Congress passed a housing rescue bill Saturday aimed at sparing 400,000 struggling homeowners from foreclosure. President Bush is expected to sign the Bill into law early this week. The question on everyone’s mind nationally is “will the plan outlined in the Rescue legislation work” to help the struggling economy and support the ailing real estate [...]
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Will mortgage brokers become extinct?
Posted on 26 July 2008.
This past week week Wachovia Bank announced that they, (Wachovia) is exiting the General Bank wholesale mortgage origination channel. This was a shocking follow up from the announcement from Bank America closing its wholesale division of lending through mortgage brokers. Look no further than www.ML-Implode.com; Here you can watch the wreckage in the mortgage lending [...]
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Real Estate's 100-year Storm
Posted on 25 July 2008.
Today, we have entered into what I call the ‘Perfect Storm’ of Real estate where many factors have come together to cause this economic crisis that appears to have no end. The House of Representatives approved legislation providing help to struggling homeowners and more importantly liquidity to the lending giants Fannie Mae and Freddie Mac [...]
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Housing Rescue Bill – Cost to you? only $25 Billion
Posted on 24 July 2008.
I have recently written several articles about my support for the Housing Rescue Package that passed with resounding support in the House of Representatives and escaped the threat of Veto from President Bush. I believe it is an important piece of Legislation that does 2 important key things to add support to the ailing housing [...]
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