Phoenix is the fastest-growing city in the country, according to newly released estimates from the U.S. Census Bureau. Phoenix welcomed 25,288 new residents between 2017 and 2018 — more than any other American city. Phoenix remains the fifth most-populous city with a population of 1,660,272, according to Census data. San Antonio, Texas (20,824 new residents); Fort Worth, Texas (19,552); Seattle (15,254); and Charlotte, North Carolina (13,151) rounded out the top five fastest-growing cities by raw population … [Read more...]
Phoenix area real estate: South Phoenix pegged as next ‘hot area’
May 9, 2019 by Leave a Comment
For years, home buyers have kept moving further and further out, but that's changing. In fact, the next hot area, believe it or not, is supposed to be south Phoenix. Maricopa County is the home of a Phoenix metropolitan area that continues to keep on growing. ”For the fourth year in a row now, Maricopa County has been the fastest growing county in the U.S.," said Thomas Maynard who is the Vice President of Business Development of the Greater Phoenix Economic Council (GPEC).It's quite a statistic. And as … [Read more...]
16 Ways To Tell If That Fixer-Upper Is Flipworthy
April 11, 2019 by Leave a Comment
1. It Makes Financial Sense to Buy It Before investing in a fixer-upper, do some quick math to make sure that it will actually be a good investment. “There’s a crude rule of thumb in the flipping world called the ‘70 Percent Rule’ — never pay more than 70 percent of the [after repair value], minus repair costs,” said Brian Davis, real estate investor and co-founder or SparkRental. “Thus, if the ARV is $200,000, and the repair costs are $50,000, a flipper shouldn’t pay more than $90,000 for … [Read more...]
The 4% Mortgage is Back
March 29, 2019 by Leave a Comment
Mortgage rates are fast approaching 4%, a rate low enough that economists and lenders believe it will help jump-start the housing market again. The average rate on a 30-year fixed mortgage fell to 4.06% this week, its lowest since January 2018, according to data released Thursday by Freddie Mac, the mortgage-finance giant. The rate was down nearly a quarter point from a week earlier, its biggest drop in over a decade. In many cases rates are lower than 4%. Lenders advertising mortgages at sub-4% rates this week … [Read more...]
Are We Entering A New Housing Bubble?
March 17, 2016 by Leave a Comment
Home prices are rising too fast in much of the country. In Dallas and Denver, prices have surpassed their prior peak and have risen over the past two years by 18% and 20%, respectively. Similar gains were recorded in many Western cities, including Seattle and San Francisco, regaining most of the price declines during the bust years to reach very close to their prior peak. Nationwide , home prices have risen by 10% over the past two years, according to the Case-Shiller repeat price index, and by 13% in the median … [Read more...]
Plans for Arcadia Frank Lloyd Wright House include tours, weddings
August 6, 2015 by Leave a Comment
Early plans for the David and Gladys Wright House envision the Arcadia home as a visitors’ destination, including a shaded garden and underground education center for tours, performances and weddings. Site maps and a list of property uses — submitted to the city late last week — are the first official look at how the owner of the Frank Lloyd Wright-designed house intends to open it to the public. The documents were filed as the first of many steps to seek a special permit allowing the uses in a residential … [Read more...]
Many Owners May Underestimate Their Equity
August 6, 2015 by Leave a Comment
A large number of home owners may be erroneously perceiving themselves as underwater on their mortgage, suggests a new analysis by economists at the University of California, Berkeley. Between mid-2011 and the fourth quarter of 2014, home prices nationally have risen about 20 percent. But in a recent Fannie Mae National Housing Survey, the percentage of home owners who perceived they were underwater on their mortgage averaged about 6 percentage points more than estimates from other national surveys. According … [Read more...]
5 Things Every Home Should Have
August 5, 2015 by Leave a Comment
Every designer has his or her own style rules. Over the years, I’ve honed mine down to the top five that I come back to again and again. Follow these ideas — or break them if you see fit — and I guarantee you’ll be able to take any space from feeling like it’s a boring, everyday thing to something you love every day. 1. A midcentury piece. I’m a huge believer in always using at least one midcentury modern element for a number of reasons. For one thing, the design period, despite no longer being … [Read more...]
Save Money With Smaller Jumbos
August 5, 2015 by Leave a Comment
Government-backed jumbo loans can be cheaper and easier to get than jumbos that exceed the $625,500 federal limit Home buyers trying to purchase a pricey property will probably need a jumbo loan—a mortgage that exceeds government limits. But there are different types of jumbos, and some are a little easier and cheaper to get than others. But first, a handy breakdown for those befuddled by the confounding terminology of the mortgage business: Conforming mortgages are capped at $417,000 and backed by … [Read more...]
