How to appeal Maricopa County property taxes
I get this question occasionally this time of year but I really don’t know how. But here’s a class were you can learn, “How to Appeal Your Maricopa County Property Taxes.”Read more
Castle Hot Springs to be auctioned off February 27
Via azcentral.com. Castle Hot Springs is kinda legendary for old-timers in Arizona. I agree, this is a once in a lifetime opportunity. When the resort opened in 1896, it was advertised as a place for tuberculosis patients to recover. Later, wealthy families from across the country started going to the resort after social seasons to relax and recuperate. Presidents Theodore Roosevelt, Woodrow Wilson and Hebert Hoover were guests of the resort.Read more
Intel to cut 5% of jobs worldwide
Via Phoenix Business Journal. We don’t know how this might hit jobs at Intel’s fab in Chandler, AZ. And it’s unknown what effect, if any, such job cuts might have on the real estate market in Chandler, Gilbert and Ahwatukee. It probably wouldn’t be good, especially for higher priced homes. Thank goodness Phoenix has a diversified economy. For Rio Rancho, New Mexico, however, this announcement does put a large question mark on home prices. Intel also has a fab in Rio Rancho, New Mexico. The economy there is much less diverse than metro Phoenix. RELATED: Why Intel’s new $1.7 billion Chandler facility is sitting empty On The Other Hand Apple…Read more
U.S. Real Estate Week – Beta
Let me know what you think of this news summary in a comment. I’d appreciate it! And please subscribe. • Mortgage rates creep down toward 4% • Repaying Home Equity Loans • Too big to fails not interested in mortgages • Welcome Relief for Homeowners, Until the Tax Bill Arrives • We couldn’t believe which states have the most late mortgages • Reverse mortgages: Safer, but far from risk-free • 1 in 6 Housing Markets Back to Pre-Recession Levels • Home prices won’t return to peak levels until when? • Morgan Stanley: We don’t see housing bubbles • 71% of Current Homeowners are Contemplating Selling in 2014 • JPMorgan admits…Read more
California dominates least affordable cities in the United States
Least Affordable U.S. Housing Markets Honolulu, HI Santa Barbara, CA San Francisco, CA Santa Cruz, CA San Jose, CA San Luis Obispo, CA San Diego, CA Los Angeles, CA Oxnard, CA Santa Rosa, CA Napa, CA Salinas-Monterey, CA New York City, NY Eureka, CA Chico, CA The study based its rankings on comparisons of metropolitan areas’ average home prices and their populations’ gross annual median household incomes. Many Californians can get MUCH more for their money living in Scottsdale. Via Realtor.com.Read more
Ken Meade Realty in Sun City sold to Coldwell Banker Residential Brokerage
Coldwell Banker Residential Brokerage acquires 250-agent Sun City, Ariz., brokerage, Ken Meade Realty. Ken Meade Realty’s 250 sales associates will continue to operate out of the company’s six existing offices as Coldwell Banker Residential Brokerage. The acquisition further expands Coldwell Banker Residential Brokerage’s presence outside of the metro Phoenix and Tucson markets into the Northwest Valley. 10 years ago, Ken Meade Realty was famous in the Valley real estate community for NOT being members of the Phoenix MLS. They pretty much owned the Sun City market and they apparently wanted to keep other agents out of their territory. They didn’t cooperate with non-Ken Meade agents who wanted to sell homes…Read more
Scottsdale’s general plan a mess – 4 members resign
“Four members of the task force — including a co-chairman of the group — abruptly resigned in January,” according to arizona.newszap.com. “We have people present on this community task force who are not even Scottsdale residents,” she said. “There are members of this task force that are paid by developers to be there — I think that is a conflict.” The Scottsdale General Plan was earlier defeated by voters which shocked me. Usually the public vote is a rubber stamp. There’s gotta be some drama going on here. I wonder what the backstory is on this. Leave a comment if you know.Read more
Mountain Shadows Resort Demolished
It will be replaced by a 150-plus room hotel, redesigned golf course and 40 homes. See photos. Via Phoenix Business Journal.Read more
Morgan Stanley: We don’t see housing bubbles currently
The Real Deal pulled this graphic from a Morgan Stanley report. Phoenix has the dubious distinction of being #2 on this list sorted by the magnitude of their real estate busts. “[T]he MSAs that endured the most serious declines in home prices have also rebounded the most. Home prices in MSAs such as Las Vegas, Phoenix and Miami – now regarded as the banner cities for pre-crisis ebullience for housing, recording declines in the 50%+ range – have shown notable rebounds, with price increases in the 30-45% range. Still, they are 35-45% below their pre-crisis peaks. Of the 20 MSAs we look at in Exhibit 1, San Francisco stands out,…Read more
WSJ: Luxury Homes That Are Better, Not Bigger
See full article at the Wall Street Journal. It’s certainly true in Paradise Valley that “smaller” homes in the 5,000 to 6,000 square foot range have become, probably, the most popular size for high-end luxury homes. During the real estate boom, bigger was definitely better.Read more