foreclosures Archives

Landlords must disclose foreclosures to tenants

foreclosure

Renters no longer have to worry about being surprised when their home is repossessed by a bank now that a new law requiring landlords to give them notice has been signed. Gov. Jan Brewer signed the tenant notice bill late last week amid a flurry of action on laws passed by the legislature in the… Read More →

Prices Up, Foreclosures Down, Investors Losing Interest

homes

Phoenix-area home prices are back on their way up again, after a short drop in January. The latest housing report from the W. P. Carey School of Business at Arizona State University shows soaring prices, dropping foreclosures and waning interest from investors looking at Maricopa and Pinal counties, as of February. * The median single-family… Read More →

Arizona foreclosure rate tumbles

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The number of Arizona homeowners losing their home to repossession or who are in some stage of the foreclosure process keeps on dropping. New data released by foreclosure tracking form RealtyTrac shows nearly 4,000 homes were either taken by lenders or received notices of foreclosure last month. That’s a 29 percent drop from January and… Read More →

1/3 of Arizona’s home sales are foreclosure-related

foreclosure

A new report shows 34 percent of all home sales in Arizona last year involved houses in some stage of the foreclosure process. The data released Thursday by foreclosure tracking firm RealtyTrac shows that’s actually a 26 percent dip from the previous year. Nearly 65,000 homes sold while in some stage of foreclosure last year.… Read More →

1/3 of Arizona's home sales are foreclosure-related

foreclosure

A new report shows 34 percent of all home sales in Arizona last year involved houses in some stage of the foreclosure process. The data released Thursday by foreclosure tracking firm RealtyTrac shows that’s actually a 26 percent dip from the previous year. Nearly 65,000 homes sold while in some stage of foreclosure last year.… Read More →

68-Unit Apartment Community in Mesa Sells for $4M

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by in Brokerage | Business News

    Cassidy Turley completed the sale of Country Club Greens, a 68-unit apartment community on 2.4 acres at 350 W. 13th Place in Mesa for $4M. The buyer was Clear Sky Capital CCG L.P. of  Phoenix and the seller was California Bank & Trust. Executive Vice Presidents David Fogler and Steven Nicoluzakis with Cassidy… Read More →

Are Arizona’s anti-deficiency statutes feeding the bubble?

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by in Banking | Economy | Featured

Jack and Jill were living the American dream. They bought their dream house in 2006. Then, the economy spiraled downward. Jack lost his job. Housing values dropped, and the amount remaining on Jack and Jill’s mortgage exceeded the value of the property — commonly known as having a house that is “under water.” Jack and… Read More →

Why Different States Are Getting Out of the Housing Crisis Faster

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America’s housing market is finally starting to really recover from the Great Recession, but some areas of the country are fighting back faster than others. New research from the W. P. Carey School of Business at Arizona State University indicates one reason: Different states have dramatically different mortgage laws, and some make it easier to… Read More →

Arizona foreclosures drop, still No. 2

Stress Map Sun Belt Sunset

Fewer homeowners were mired in the foreclosure process last month but Arizona still posted the second-highest foreclosure activity rate in the nation. The state posted a 19 percent drop in homes being repossessed or receiving foreclosure filings in July from July 2011. Data released Thursday by foreclosure tracking firm RealtyTrac shows lenders actually repossessed more… Read More →

Phoenix-Area Home Prices Continue To Rise

home prices are rising

Phoenix-area home prices continue to rise, but a short supply of available homes is causing the amount of activity in the market to fall. A new report from the W. P. Carey School of Business at Arizona State University gives an update on the hard-hit housing market of Maricopa and Pinal counties, as of April:… Read More →

Shea Homes Arizona Sales Increase, Optimistic About Housing Recovery

The jury is still out about the national housing recovery, but Shea Homes Arizona is noticing a pickup in its sales during the first four months of the year. With three new home communities that have opened since January and three more that will be announced soon, Shea Homes Arizona has already outpaced its 2011… Read More →

Phoenix Home Prices Up, New-Home Sales Coming Back

home prices

Foreclosures are dramatically down in the Phoenix-area housing market. This means fewer cheap homes coming onto the market, home prices rising for the sixth month in a row as a result, and many buyers finally starting to turn their attention from bargain resale homes to new-home sales. A new report from the W. P. Carey… Read More →

Short Supply, Rising Prices In The Phoenix Area Housing Market

Phoenix-Area Housing Market

Are we actually seeing the start of a housing shortage in the Phoenix area? A new report from the W. P. Carey School of Business at Arizona State University reveals some surprising information for Maricopa and Pinal counties, as of February: Housing supply was down a huge 42 percent from the year before. Foreclosures were… Read More →

Short Sales And Foreclosures: Income Tax Traps For The Unwary Homeowner

Income Tax Traps
by in Finance | Real Estate

Short Sales and Foreclosures: Income Tax Traps for the Unwary Homeowner by Stuart Pack, J.D. and Kelly C. Mooney, J.D., L.L.M. When considering a short sale, foreclosure or other strategic default under the terms of a mortgage or deed of trust, most homeowners and many professionals focus on the immediate concern of whether the transaction… Read More →