Six years ago, it was common for buyers to wait in front of new home sales offices to see who would win the privilege of purchasing one of the several lots the builder had selected to release for sale that day.Read More »
The Senate on Thursday approved a proposal to prohibit homeowner associations from regulating public roadways that are owned by a government entity. But both Democratic and Republican legislators also opposed it, which showed that issues dealing with homeowners associations often transcend political boundaries.Read More »
Arizona will get more than $1.6 billion to relieve underwater homeowners in settlements for two mortgage fraud lawsuits.Read More »
Allowing owners of foreclosed homes to remain as renters for at least a year would stabilize neighborhoods and minimize the fallout for families, a state lawmaker contends.Read More »
An influential tax policy group will seek to put a measure on the ballot to limit growth in property values.
The Arizona Tax Research Association wants taxable property values to grow by no more than 5 percent each year.
The Census Bureau on Thursday confirmed what many Arizonans already knew: Over the last decade, the state built too many houses and didn’t fill enough of them.Read More »
Barack Obama's road to re-election is lined with lots of boarded-up homes.
Though the high unemployment rate dominates talk in Washington, for many 2012 voters the housing crisis may well be a more powerful manifestation of a sick economy.
Alaska has a reality show about ice truckers trying to survive deadly hauls. New York has Donald Trump's cutthroat competition to be his apprentice. And Georgia has Billy the Exterminator, who battles rodents and alligators.
Soon, Phoenix will be the setting for a new reality show about one of the region's most competitive and heart-racing activities — bidding on foreclosure homes.
Banks as tenants: Cleaning and maintaining foreclosed properties bad for banks, good for specialists
The time, effort and money required to upkeep a home that normally would have been put in by the homeowner shifts to the bank when occupants desert their house. Lenders have to pay to clean up their sometimes-trashed properties to get them ready to sell. These properties, which will sell at a drastically lower price than when they were new, are putting a great strain on those institutions’ profitability, which affects their ability to make new loans.Read More »
By September 2010, the Arizona Department of Housing was sitting atop $268 million in federal money, which it was seeking to unload to help struggling homeowners here.
But since the program’s inception last year, it has helped only four homeowners and reduced their principles by a combined $62,000. On average, it lowered their monthly payments by $420.