Monday, March 28, 2011

Whats brewing this week

Peoria enters talks on development near sports complex - Plans are in the works for a four-star hotel, a three-story parking structure, retail shops, restaurants and luxury lofts on what is now a city-owned 17-acre parking lot west of the spring-training ballpark. The Peoria City Council Tuesday voted unanimously to accept a development proposal submitted by Osage West LLC, a partnership between local developer Mike Oliver and Osage LLC, a business arm of the Oklahoma-based Osage Nation. Read article:

Real estate: It's time to buy again - Metrostudy is finding an extraordinary reversal of the new-home glut that helped sink prices just a few years ago. In the 41 cities Metrostudy covers, a total of 78,000 houses are now either vacant and for sale, or under construction. That's less than one-fourth of the 343,000 units in those two categories at the peak of the frenzy in mid-2006, and well below the level of a decade ago. "If we had anything like normal levels of buying, those houses would sell in 2½ months," says Mike Castleman of Metrostudy. "We'd see an incredible shortage. And that's where we're heading." Read article:

Thursday, March 24, 2011

more brewing in Phoenix

HUD home sale to ban investors - Organizers of a foreclosure-home auction scheduled for Saturday in Phoenix said their event will be unlike any previous home auction in Arizona for one simple reason: No investors are allowed. BLB Resources is tasked with disposing of all Arizona homes foreclosed on by HUD. Saturday's auction will feature 150 detached homes and condo units in Phoenix, Maricopa, Mesa, Glendale, Buckeye and other Valley communities. Read article:

How to finance a duplex or multi-unit home - Mortgages are available for buyers of duplexes, as well as of three- and four-unit dwellings. The options for financing multifamily homes depend on whether the buyer intends to occupy one of the units. Owner-occupants can choose between FHA or VA or conventional financing, but investors are limited to conventional mortgage loans. Read article:

Wednesday, March 9, 2011

first time buyers

Selective First-Time Buyers Can Miss Deals - In a recent poll, 87% of respondents felt that finding a "move-in ready" home was important. Some agents say first-timers are being more selective; and some are turning away from well-priced homes because they do not have granite countertops or they need a new carpet. Agents believe TV shows have made buyers more knowledgeable about home design, but some worry that such programming also has given buyers unrealistic expectations. Read article:

Tuesday, March 8, 2011

new first time home buyer new rules

New Rules for First-Time Home Buyers - Without a house to sell , first-time home buyers have had a field day in the depressed housing market. Until recently, anyway. A series of new rules, regulations and policies have changed the landscape, making buying that new home harder and more expensive. This month, fees on most new mortgages will rise by up to 0.50%. In April, fees on small-down-payment mortgages, a first-time buyer favorite, will spike. Meanwhile, more lenders are requiring larger down payments, and new proposals from the Obama administration call for mortgages to become more expensive and limited in size. Read article: