The owners of a Phoenix home designed by Frank Lloyd Wright for his son David have sent out mailers to as many as 15,000 Arcadia-area households defending plans to host events, field trips and concerts at the property. Attorney Zach Rawling’s David Wright House LLC bought the property in 2012, saving the historic home from possible demolition. Rawling wants to rehabilitate the 2,200-square-foot concrete home and obtain historic designations. He also wants to build an underground archive, bookstore, cafe and … [Read more...]
Personal Spaces: 10 Cool Updated Ranch Houses
February 19, 2015 by Leave a Comment
Looking to bring your ranch-style home into the 21st century? Get inspired by what these homeowners have done Ranch-style homes enjoyed immense popularity from the 1950s to the 1970s. Today many of those same homes are still around — faux-wood paneling, avocado-green tile and all. If you are looking to update a ranch-style home, gather inspiration from these 10 homeowners who have brought their homes into the 21st century with style. Tara Bussema - Neat Organization and Design Tara … [Read more...]
They’re back: Boomerangers Returning To Housing Market
February 19, 2015 by Leave a Comment
Many former homeowners could start buying again this year and give metro Phoenix's housing market a much-needed boost. They are called boomerang buyers because they were thrown out of the mortgage market after foreclosures or short sales during the crash but now can qualify for a home loan again. Most lenders require a seven-year sitting out period for borrowers who default on home loans. That waiting period is over this year for the first wave of people to lose houses during the crash. A new report from … [Read more...]
Jumbo Borrowers Get The Red-Carpet Treatment
February 19, 2015 by 1 Comment
A growing economy in 2014 meant that affluent home buyers had the confidence to take on debt for both primary residences and second homes. It’s awards season in the U.S., when the entertainment industry celebrates its top movies, music and TV shows. If the mortgage industry gave out prizes, jumbo borrowers would be big winners. Some highlights from 2014: • For a five-week stretch between August and September, jumbo rates were lower than those for comparable conforming mortgages. • Many banks and credit … [Read more...]
Fixer Uppers: A Pot Of Gold Or A Money Pit?
February 19, 2015 by Leave a Comment
Realtor.com identifies the U.S. cities whose homes on the market offer the biggest price break for buyers willing to put in a little work. Feeling handy? Take a look at Clarksville, Tenn. According to numbers from Realtor.com, the city offers the country’s biggest price break for home buyers willing to put in a little work. The median price for a fixer-upper in Clarksville is $69,900, an almost 70% discount off the $226,000 median price for a home in good condition. (The analysis focused on houses in the … [Read more...]
Experts: 2015 should be better than 2014 for housing
January 14, 2015 by 1 Comment
Metro Phoenix's housing market ended 2014 on a low note with both home sales and prices down. Homeowners, potential buyers shopping for a house and investors are all curious — even anxious — about what could happen this year. The big issues to watch in the Valley are job and population growth, whether the federal plan to lower mortgage premiums spurs more first-time buyers and what big investors with thousands of rental houses do. Nationally, whether interest rates climb, the success of new low-down payment … [Read more...]
Average Time to Build a House: 6 Months
January 14, 2015 by 1 Comment
The time it takes to build a house in the U.S. varies by year and region. Experts ponder what factors have the biggest impact on construction. Want to get your house built as quickly as possible? Buy land in the South and nail down a construction crew? According to data collected by the U.S. Census Bureau, in 1973 it took, on average, six months to build a single-family home. In 1980, that number was up to 6.9 months, and in 2009 it was up to 7.9. In 2013, the latest data available, it was back down to six … [Read more...]
More Americans Are Going Solo
October 13, 2014 by Leave a Comment
Single adults will change the face of the housing industry The U.S. is becoming a nation of singles. According to the Bureau of Labor Statistics, half of all American adults live in one-person households, and this demographic is heavily influencing the companies that want to reach out to them. Restaurants are including more communal seating to be inclusive for single diners. Multifamily communities are offering shared spaces such as home theaters, outdoor spaces, and work areas so that singles can socially … [Read more...]
Why Prospects of Condo Comeback Are High
October 13, 2014 by Leave a Comment
Condo sales have been on a roller coaster ride in recent years, as the recession hit the sector hard. But is the country ready for a condo revival? In 2005, condo sales surged to 12.7 percent of all home sales. But the financial crisis caused the condo market to recede — even more so than the single-family market — with sales falling to 10.7 percent of all home purchases in 2009. "Condo sales moved sideways several years after the recession before picking up steam again in 2013," CoreLogic Deputy Chief … [Read more...]
There is a Light at the End of the Phoenix Recovery Tunnel
October 13, 2014 by Leave a Comment
Phoenix may have to wait another two years to make it out of the prolonged recovery following the worst economic calamity in four generations. The word from speakers at the SRP Economic Forecast 2015 presented by thePhoenix Business Journal is that 2016 is year of full recovery. A group of more than 700 business professionals gathered at the J.W. Marriott Phoenix Desert Ridge Resort & Spa to hear the advice. It’s been a long, slow climb, and the light at the end of the tunnel has been seen for over a … [Read more...]
