Archive for November, 2009
Foreclosures of Rich and Famous People
Monday, November 2nd, 2009Although the rich and famous are rich and famous, it doesn’t mean that they are impervious to the popping of the real estate bubble. Many have succumbed to real estate woes as of late. Ed McMahon had tabloids a talking when his real estate troubles became front page news last year. The now deceased celebrity [...]
Phoenix Area Single-Family Market Improving — Not So in Townhouse/Condo Sector
Monday, November 2nd, 2009Single-family home prices in the Phoenix metro market have finally stopped diving, but the townhouse/condominium segment of the market continues to sink, according to the latest ASU Repeat Sales Index (ASU-RSI). The ASU-RSI is reporting that home prices declined 28 percent in July compared to July 2008, continuing a welcome moderating trend that started a [...]
Things Condo Buyers Should Consider
Monday, November 2nd, 2009Buyers who are considering the purchase of a condominium should inspect the health of the home owner’s association before they close. The seller should provide the buyer all financial documents relating to the association in time for an attorney for the buyer to review them before closing. Here’s some advice from Leonard Baron, professor of [...]
Homebuyer Credit Gets New Life
Monday, November 2nd, 2009Key lawmakers in the Senate have tentatively agreed to extend the existing $8,000 tax credit for first-time home buyers and also offer a new $6,500 credit for existing homeowners who have lived in their current residence for a consecutive five-year period in the past eight years. Home buyers must be under contract by April 30, [...]