Posts Tagged ‘listings’

Remodeled Scottsdale Gem in Sought After Troon Area

Thursday, March 21st, 2013

This one is a great value. Asking price is just $200/foot (below comps or the area).

 

We're sorry, but we couldn't find MLS # 4906326 in our database. This property may be a new listing or possibly taken off the market. Please check back again.

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Downtown Scottsdale, Arizona- Luxury Real Estate For Sale

Sunday, December 16th, 2012

See all Real estate in the 85251 zip code.
(all data current as of 7/31/2014)

  1. 6 beds, 6.50 baths
    Home size: 6,822 sq ft
    Lot size: 40,683 sqft
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  2. 4 beds, 5.50 baths
    Home size: 6,233 sq ft
    Lot size: 35,641 sqft
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  3. 5 beds, 6.00 baths
    Home size: 6,115 sq ft
    Lot size: 39,450 sqft
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  4. 6 beds, 8.50 baths
    Home size: 8,592 sq ft
    Lot size: 42,279 sqft
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  5. 4 beds, 5.00 baths
    Home size: 4,800 sq ft
    Lot size: 22,294 sqft
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  6. 6 beds, 4.00 baths
    Home size: 4,593 sq ft
    Lot size: 26,377 sqft
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  7. 3 beds, 4.00 baths
    Home size: 3,340 sq ft
    Lot size: 7,500 sqft
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  8. 3 beds, 4.00 baths
    Home size: 3,468 sq ft
    Lot size: 3,874 sqft
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  9. 5 beds, 5.50 baths
    Home size: 5,538 sq ft
    Lot size: 35,014 sqft
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  10. 3 beds, 3.50 baths
    Home size: 2,503 sq ft
    Lot size: 2,501 sqft
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  11. 5 beds, 5.00 baths
    Home size: 5,573 sq ft
    Lot size: 1.01 ac
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  12. 3 beds, 3.50 baths
    Home size: 2,296 sq ft
    Lot size: 2,336 sqft
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  13. 4 beds, 4.00 baths
    Home size: 3,733 sq ft
    Lot size: 23,884 sqft
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  14. 3 beds, 4.00 baths
    Home size: 3,157 sq ft
    Lot size: 7,500 sqft
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  15. 2 beds, 2.50 baths
    Home size: 2,265 sq ft
    Lot size: 2,141 sqft
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  16. 3 beds, 3.00 baths
    Home size: 3,005 sq ft
    Lot size: 3,005 sqft
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  17. 5 beds, 3.50 baths
    Home size: 3,343 sq ft
    Lot size: 15,757 sqft
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  18. 2 beds, 2.50 baths
    Home size: 2,265 sq ft
    Lot size: 7,500 sqft
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  19. 4 beds, 5.00 baths
    Home size: 3,751 sq ft
    Lot size: 11,064 sqft
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  20. 4 beds, 4.50 baths
    Home size: 4,186 sq ft
    Lot size: 20,422 sqft
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  21. 2 beds, 2.50 baths
    Home size: 2,102 sq ft
    Lot size: 2,141 sqft
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  22. 4 beds, 3.50 baths
    Home size: 3,650 sq ft
    Lot size: 3,650 sqft
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  23. 5 beds, 3.00 baths
    Home size: 3,759 sq ft
    Lot size: 16,283 sqft
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  24. 2 beds, 2.75 baths
    Home size: 1,733 sq ft
    Lot size: 1,790 sqft
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  25. 2 beds, 2.75 baths
    Home size: 1,786 sq ft
    Lot size: 1,786 sqft
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Listing information deemed reliable but not guaranteed. Read full disclaimer.

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Study Finds Fewer Borrowers Sinking in Negative Equity- Phoenix Real Estate For Sale

Wednesday, November 30th, 2011

The depreciation of home values over the past half-decade has left millions of mortgage borrowers owing more than their home is worth – 10.7 million, according to CoreLogic.

The company released its third-quarter update on negative equity within the U.S. housing market Tuesday. It shows that 22.1 percent of all residential properties with a mortgage were underwater as of the end of September.

That’s actually down from 22.5 percent – or 10.9 million borrowers – at the end of the second quarter, but CoreLogic says the number remains high and makes borrowers more vulnerable to economic shocks such as job loss or illness.

Nevada has the highest negative equity percentage with 58 percent of all its mortgaged properties underwater, followed by Arizona (47 percent), Florida (44 percent), Michigan (35 percent), and Georgia (30 percent).

This is the first quarter that Georgia entered the top five, surpassing California which had been in the top five since CoreLogic began tracking negative equity in 2009.

The top five states combined have an average negative equity ratio of 41.4 percent, while the remaining states have a combined average negative equity ratio of 17.6 percent.

Mortgage borrowers in New York have fared the best through the downturn, with just 6.3 percent in a negative equity position.

Other states on the low end of the spectrum include: North Dakota (6.9 percent), Oklahoma (7.3 percent), Pennsylvania (7.9 percent), and Montana (8.4 percent).

Should home prices continue to fall further, another 2.4 million mortgage borrowers in the U.S. could sink underwater – that’s the number of borrowers CoreLogic says had less than 5 percent equity in their homes, referred to as near-negative equity, in the third quarter.

Together, negative equity and near-negative equity mortgages accounted for 27.1 percent of all residential properties with a mortgage nationwide in the third quarter.

CoreLogic’s report provides additional details on the population of borrowers that are currently underwater.

Of the 10.7 million borrowers in negative equity, there are 6.3 million first liens without home equity loans that have an average mortgage balance of $222,000. They are underwater by an average of $52,000 which equates to an average loan-to-value (LTV) ratio of 131 percent.

The remaining 4.4 million negative equity borrowers hold first liens and home equity loans with an average mortgage balance of $309,000. These borrowers are underwater by an average of $84,000 and have an average LTV of 137 percent.

Given that bank portfolios account for 15 percent of all first lien mortgages, CoreLogic estimates that 1.6 million loans in a negative equity position are held by banks. Collectively these loans are underwater by about $105 billion.

Altogether, the 10.7 million borrowers who owed more than their home was worth at the end of the third quarter were underwater by a total of $699 billion by CoreLogic’s assessment.

 

Source:

 

 

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Building permits Soar 11% – Phoenix Arizona Real Estate News Nov. 17, 2011

Wednesday, November 23rd, 2011

NEW YORK (CNNMoney) — Permits for housing construction climbed in October, signaling an uptick in optimism among homebuilders.

The number of permits for future housing construction jumped to a seasonally adjusted annual rate of 653,000 last month, up 10.9% from the revised rate of 589,000 in September, the Commerce Department said.

That was much higher than expected, with economists surveyed by Briefing.com looking for a 603,000 permit rate.

But until builders actually start building, this big increase in permits may indicate that builders are hedging their bets and may not translate into an actual increase in construction, said Doug Roberts, chief investment strategist for Channel Capital Research.

“Getting a permit and actually beginning to build a house is the difference between getting engaged and getting married,” said Roberts. “What you have is builders thinking the market might be coming back, so they’re getting permits to make sure they are ready to build if it does.”

In fact, the physical construction of new homes ticked slightly lower during the month, the government report showed.

Housing starts, the number of new homes being built, edged down 0.3% to an annual rate of 628,000 units in October, the Commerce Department said. That’s down from a revised 630,000 in September.

“Builders thought they were going to be able to get out there and get some houses done, but then they found that they didn’t necessarily want to make the stone cold commitment and want to put anything in the ground,” Roberts said. “The demand wasn’t there, so they weren’t willing to bet a serious amount of money.”

But economists had expected a much lower annual rate of 604,000 units, according to consensus estimates from Briefing.com.

If the glut of foreclosures starts thinning and demand picks up, the jump in permits could translate into a rise in new construction in coming months.

“But that’s a big ‘if’,” Roberts said.

Still, permits and construction have both increased significantly from a year ago. Housing starts are up 16.5% from the same month a year ago, and building permits are up 17.7%

Source: http://cnnmon.ie/vRY65p

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Apple passing HP for top PC spot helps Phoenix – Arizona Real Estate News

Monday, November 21st, 2011

Apple Inc. generally isn’t associated with the Phoenix area, but its growth in the personal computer market could have some big effects on at least one employer here.

This morning, the San Jose Business Journal reported that Apple was getting ready to surpass Hewlett-Packard Co . as the biggest PC manufacturer in the world.

If it doesn’t happen by the end of this year, it will by March.

The study does count tablet computers as PCs, which greatly helps Apple on the “who’s biggest” lists.

For the Valley, that means more business for Intel Corp. , which supplies Apple with its Core i3, i5 and i7 processors made in Chandler.

Intel benefits when any of the PC makers do well, because it has the dominant share of the chip market. Apple’s resurgence and its reliance on Intel chips — at least for its desktop models — provide another way for the Santa Clara-based Intel to benefit from the computer market.

via Apple passing HP for top PC spot helps Phoenix – Phoenix Business Journal.

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Arizona’s largest employers: The Top 5 – Phoenix Real Estate News

Wednesday, November 9th, 2011

This week’s edition of the Phoenix Business Journal, due out today, is ranking Arizona’s largest employers by the number of full-time equivalent employees working in the state.

#5

#4

 

#3

#2

#1

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Short Sales Offer Significant Discounts in Several Major Cities

Monday, October 31st, 2011

Short sales are growing throughout the nation as distressed homeowners and servicers continue to seek alternatives to foreclosure and home buyers increasingly opt for the significant discounts that come with short sales.

With 9,145 completed short sales, the Los Angeles area had more short sale transactions than any other metropolitan statistical area (MSA) in the second quarter of this year, according to a recent blog post from RealtyTrac.

These short sales came with an average discount of 32 percent and at an average price of $250,247.

Phoenix ranked second in number of short sales for the second quarter with 8,434 short sales, which came with an average discount of 27 percent and an average price of $133,793.

According to the RealtyTrac blog post, the cities with highest numbers of short sales in the second quarter were:

1. Los Angeles
2. Phoenix
3. Cape Coral – Fort Myers, Florida
4. Oxnard – Thousand Oaks – Ventura, California
5. Reno – Sparks, Nevada
6. San Francisco
7. San Jose
8. Portland
9. Atlanta
10. Milwaukee

Short sale savings averaged more than 30 percent in Cape Coral – Fort Myers, Florida; San Francisco; San Jose; and Milwaukee.

Reno – Sparks, Nevada, experienced a 50 percent rise in short sales from the first quarter to the second quarter of the year, while San Francisco saw a 47 percent rise in short sales.

Atlanta and Milwaukee also saw significant increases in short sales over the quarter – 21 percent and 20 percent respectively.

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Home Affordable Refinancing Program revamped to boost refis | Inman News

Monday, October 24th, 2011
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<p>In an attempt to boost participation in the Obama administration’s mortgage refinance program, Fannie Mae and Freddie Mac will release lenders who sign off on a refinanced loan from some legal liabilities associated with the original loan.</p>
<p>Mortgage market analysts view the waiver of so-called seller servicer “representations and warrants” on Home Affordable Refinancing Program (HARP) loans as the most significant of a series of changes <a href=announced today by Fannie and Freddie’s regulator, the Federal Housing Finance Agency.

Fannie and Freddie will also lift the current 125 percent loan-to-value (LTV) cap on HARP refinancings, and sign off on refis without an appraisal if they have reliable automated valuation model (AVM) estimates for the property.

The new HARP guidelines also eliminate some risk-based fees if homeowners refinance into shorter-term mortgages that will get them out from negative equity situations more quickly.

A homeowner with a $200,0000 loan on a home worth only $160,000 would be able to pay their loan balance down to that level in 5 1/2 years by refinancing into a 20-year loan at 4.5 percent interest, FHFA said, compared to 10 years with a 30-year loan at the same rate.

The HARP program was originally designed to help “responsible” borrowers with little or no equity in their homes refinance without having to purchase additional private mortgage insurance.

Although the initial 105 percent LTV cap was raised to 125 percent just a few months after HARP’s February 2009 launch, lenders have been reluctant to refinance underwater borrowers and the program has fallen short of its original target of helping as many as 4 million homeowners refinance.

According to the latest numbers from FHFA, Fannie and Freddie had completed nearly 894,000 HARP refinancings through August, but only about 72,000 were mortgages with LTVs greater than 105 percent.

Data aggregator Lender Processing Services has estimated that 23 percent of an estimated 46 million homes whose owners are current on their mortgages — nearly 11 million homes — are underwater. LPS calculates that about 72 percent of homes in foreclosure have negative equity.

Only borrowers who are current on a mortgage sold to Fannie and Freddie before June 1, 2009 are eligible for the HARP program. Originally scheduled to phase out this year, FHFA said today the program will continue through the end of 2013.

In announcing the program changes, FHFA said it hoped to see HARP refinancings at least double from today’s level by the time the program winds down, which would equate to roughly 1 million refinancings.

Those refinancings would come at the expense of investors in the mortgage-backed securities (MBS) backed by the loans being refinanced. Because those investors include the Federal Reserve, Treasury and Fannie and Freddie themselves, taxpayers would share in that burden, which would be partially offset by a reduction in foreclosures.

Earlier this year the Congressional Budget Office estimated that a hypothetical program that produced 2.9 million refinancings could prevent 111,000 defaults, costing taxpayers $600 million and private investors $13 billion to $15 billion.

Dow Jones Newswires reported that prices for MBS issued by Fannie and Freddie fell today after investors were surprised by the extent of the changes to the HARP program.

The new policy “runs the risk of alienating the investors that provide the bulk of all credit to homeowners” Dow Jones reported, citing warnings earlier this month from the Mortgage Bankers Association that mortgage rates could go up if investors lose their enthusiasm for MBS. Bond prices and yields move in opposite directions, so reduced demand for MBS drives up mortgage rates.

MBA President and CEO David Stevens said in a statement today that the mortgage industry welcomes the changes to the HARP program. Lenders “are particularly gratified” by the decision to grant lenders relief from some representations and warranties in originating new HARP loans, he said.

While the changes “are not going to be a silver bullet to solve all the issues facing our housing market …  they will offer lenders another tool to help borrowers and hopefully help bring some stability to housing markets, particularly those most impacted by home-value declines,” Stevens said.

The “reps and warranties” that protect Fannie and Freddie from losses on defective loans usually show up “in the first few years of a mortgage and so the value of the reps and warrants decline over time,” FHFA said in justifying the new incentive.

“These are seasoned loans made to borrowers who have demonstrated a capacity and commitment to make good on their mortgage obligation through a period of severe economic stress and house price declines,” FHFA said.

On a conference call with reporters, FHFA acting director Edward DeMarco said lenders would still be liable to claims of mortgage fraud on the original loan.

 

full article here: http://www.inman.com/news/2011/10/24/home-affordable-refinancing-program-revamped-boost-refis

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Phoenix new home market shows September improvement – Phoenix Business Journal

Friday, October 21st, 2011

New home closings and building permits issued rose in the Phoenix area in September, providing what might be a hopeful signal that the new home market is beginning a recovery.

The information is reported in the Phoenix Housing Market Letter, a publication of RL Brown Reports, a Valley housing research firm.

Closed sales in September numbered 751 as compared with 620 a year ago. Building permits numbered 662 as compared with 464 a year ago.

The data suggests, “that the metro Phoenix new home market may have moved from the depths of recession into at least the beginning stages of recovery from the worst housing market period in modern times,” the report stated.

One startling number that still reflects significant abnormalities in the market is the median price of new homes versus resale homes. There is a $115,000 difference in those prices.

The median price of a new home is $227,498, while the median price of a resale is $112,000 Valleywide. In more traditional cycles, the median price of a new home has been between $30,000 and $40,000 more than a resale home.

“This does not mean that consumers are asked to pay over twice as much for a new home as a resale home, but that new homes overall have a much different market relationship to resale homes than we have ever seen in this marketplace,” the report stated.

The report also lists the top home builders based on numbers of permits pulled in September. Valley-based Blandford Homes came in first with 62 permits. Scottsdale-based Meritage Homes  came in second with 59 permits and D.R. Horton had 51 permits. Other companies with more than 20 permits pulled are MPC Homes, K Hovnanian, Taylor Morrison, Pulte Homes  , Beazer Homes  , Ashton Woods Homes, Shea Homes  and Lennar Homes.

 

Full story here: http://www.bizjournals.com/phoenix/blog/business/2011/10/phoenix-new-home-market-shows.html?ana=RSS&s=article_search&utm_source=pulsenews&utm_medium=referral&utm_campaign=Feed%3A+bizj_phoenix+%28Phoenix+Business+Journal%29

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Phoenix No. 12 for personal income growth- Arizona Real Estate Investing

Monday, October 17th, 2011

 

 

 

 

 

 

 

 

 

 

 

 

Phoenix and Tucson were among the national leaders in total personal income growth between 2000 and 2010.

Phoenix’s total personal income (TPI) grew at an annual rate of 4.89 percent between 2000 and 2010. That ranked Phoenix No. 12 among America’s 75 major metros, according to an On Numbers analysis of data from the U.S. Bureau of Economic Analysis.

Phoenix had a TPI of $94.8 billion in 2000 and $152.8 billion in 2010.

Tucson’s TPI growth was faster than Phoenix’s at 5.25 percent, good for No. 5 in the nation.

Houston’s total personal income (TPI) grew at an annual rate of 5.69 percent between 2000 and 2010. That was the fastest pace set by any of America’s 75 major metros.

TPI is the total amount of money earned by all residents of a given area in a given year, encompassing everything from wages and salaries to dividends and welfare checks. A major metropolitan area is defined as a market with TPI greater than $25 billion.

Palm Coast, Fla., a small metro on the Atlantic coast, posted the fastest TPI growth rate for a market of any size. Its total personal income increased by 9.69 percent per year between 2000 and 2010.

Full story here: http://bit.ly/rr2esg

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