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Housing frenzy spreads to rentals in metro Phoenix

AZCentral Real Estate - Fri, 09/14/2012 - 10:21
Renters looking for houses in metro Phoenix areexperiencing much of the same frenzy as buyers.
As reported in http://www.azcentral.com/arizonarepublic/news/articles/2012/09/04/20120904phoenix-area-rental-homes-red-hot-commodity.htm, new data from the Arizona Regional Multiple Listing Service and real-estate analyst Mike Orr show  the supply of houses for rent in the region is nearly as tight as the supply of homes for sale, and the number of leases signed in  the past few months is at record levels.
High demand for rentals is another indicator of metro Phoenix’s housing-market recovery.
Rob and Sandra O’Dell discovered how competitive metro Phoenix’s rental market has become when they began looking for ...

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Indictments in alleged California loan mod scam that costs homeowners $7 million

AZCentral Real Estate - Wed, 09/12/2012 - 15:12

Nearly a dozen people have been indicted in an alleged California-based mortgage modification scam that targeted struggling homeowners, according to the Office of the Special Inspector General for the Troubled Asset Relief Program. 
More than 4,000 homeowners lost at least $7 million in fees paid to the company; many lost their homes to foreclosure through the scheme.
Here’s information from the federal announcement:
+  Federal agents this morning arrested 10 defendants who worked at a Rancho Cucamonga, Calif.,-based business that allegedly offered bogus loan modification programs to financially distressed homeowners. As a result of the scheme allegedly run out of 21st ...

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Metro Phoenix housing market update

AZCentral Real Estate - Fri, 09/07/2012 - 14:29

Metro Phoenix’s housing market took a breather in July. Home prices fell less than 1 percent instead of the 5 to 7 percent monthly jumps seen earlier this year.
Here are the highlights from the report from the W. P. Carey School of Business at Arizona State University:
 The median single-family home price dropped slightly between June and July this year – down less than 1 percent. It went from $150,000 to $149,000.
The median single-family home price was still up almost 31 percent from last ...

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