Vinnys House of Real Estate

Quick article about the mortgage bill, I don’t know very many people who are only a little underwater, they are very underwater..
Realtors, mortgage brokers and others working in the trenches of the Phoenix housing market say President Barack Obama’s mortgage rescue plan offers glimmers of hope to the distressed marketplace, but leaves out many troubled [...]

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onforming loan limits have been restored to as much as $729,750 in 250 counties around the U.S. as the regulator of Fannie Mae and Freddie Mac implements a policy change in last week’s $787 billion economic stimulus bill.
H.R. 1, the American Recovery and Reinvestment Act, restores the higher limits in place for Fannie and [...]

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Good news for AZ, there is plenty of money going into the infrastructure!
Major Phoenix-area freeway building ahead | Top Stories | FOX11AZ.com | News for Tucson, Arizona.

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Mortgage fraud doesn’t pay!
n the following press release Diane J. Humetewa, U.S. Attorney for the District of Arizona announced that Marcus Dozzell, 34, of Henderson, Nevada was sentenced today to 45 months in prison for his conviction in April 2008 for leading a mortgage fraud scheme in Phoenix, Arizona, San Diego, California and Las Vegas, [...]

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He’s coming to Phoenix to try to work on foreclosures!
“WASHINGTON (AFP) — US President Barack Obama next week heads west to tout a new strategy to prevent home foreclosures after his first big win in Congress with the approval of his 787-billion-dollar economic stimulus plan.
Before traveling to Phoenix, Arizona to promote his efforts to stem [...]

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Finally a task force to combat some of the foreclosure that are around AZ. I personally have been in a home that was completely vandalized, and no one cared, not the Realtor nor the police.
Scottsdale, Realtors Team Up To Fight Blight | Phoenix Arizona Real Estate Local News and Business Directory.

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This is why I am in real estate:
“U.S. stocks plunged and the Dow Jones Industrial Average fell by more than 400 points after Treasury Secretary Timothy Geithner did little to slake traders’ thirst for details on the U.S.’s plans to aid ailing financial institutions.

Stocks have ticked up and down in a tight range since the [...]

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The commercial market isn’t in any better shape these days. According to this article, lenders are looking for 40% down on properties, which is crazy in this market.
“Simon said she thinks the commercial real estate industry will see some movement – one way or another – by the third quarter of 2009. Either lending institutions [...]

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This is a great article, it identifies one of the main points when trying to sell real estate, CURB APPEAL!
If someone thinks your house looks amazing, they are willing to pay a little more for it. Nothing to be done, no maintenance that is neglected, that goes a long way in this market. Professional staging [...]

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This is the worst part: “The Dow Jones Wilshire REIT index lost 4439% over the past year through February 62, as investors concluded that these toxic conditions would force many REITs to pare back generous common-stock dividends. REIT preferred shares did just as poorly.”
Now that is quite a loss if I have ever seen one. [...]

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