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When it come to home ownership, condo prices are the last to rise and the first to go down. Given the glut of condos and unfinished condos in the bubble areas, the following article should not be surprising. Please consider Experts: Plummeting prices have rendered condos nearly worthless by the Arizona Republic. New federal loan-guarantee rules imposed to fend off future government losses from plummeting condominium prices have rendered condos utterly worthless, Valley real-estate experts sa

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Random Feed wrote an interesting post today on
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It’s Friday desk clearing time for this blogger. “The Maricopa County treasurer began sending out tax bills last week and will continue through the end of the month. Much of the increase is due to the state equalization tax, which is back after a three-year hiatus. The tax, which helps fund education in Arizona, adds $58 this year for a homeowner with a property assessed at $176,000, according to an Arizona Republic analysis. Since 2007, Valley home prices have plummeted 50 percent, but it wil

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Random Feed wrote an interesting post today on
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***Smart Financial Mortgage Weekly Mortgage Update July 31, 2009*** News Flash!!!!!From a July 27th story in the Arizona Republic………………….An amendment to the state’s foreclosure law (SB 1271) now makes somehomeowners inforeclosure liable for the difference between their mortgage and what the lender can get whenreselling the home. The new law would affect any Arizona homeowner in foreclosure who has not lived in the home for six consecutive months. This would impact owners of secondhomes as well a

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Random Feed wrote an interesting post today on
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There are two ways to judge the state of commercial real estate. Look at the statistics and look at the vultures starting to circle. For statistics, let’s consider those cited for Phoenix in the Arizona Republic today (sorry no link available). The commercial vacancy rate increased from 19.9% in the first quarter to 21.4% in the second quarter. Net negative absorption was in excess of 1 million square feet in the second quarter up from a negative 600,000 in the first quarter. In the sec

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Random Feed wrote an interesting post today on
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(Story originally published on 5/18/09) UPDATE1: As reported by the Arizona Republic , “Federal officials on Monday reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.” Since the Republic was the only news source we could find that was publishing this “new” information, we contacted the reporter for more specifics, and are currently awaiting a response. When we find out more, we will be sure to let you k

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