David E. Smith's Blog

Bank of America is facing new litigation from investors who want the nation's largest bank to buy back the mortgages backing their bonds. The legal dispute stems from loans made by BofA's Countrywide Financial unit that allegedly violate the representations and warranties clause of the mortgage-b...

FROM ARMLS:Yesterday, two writers from the  Associated Press put out a story that said that 70% of the homes in Phoenix are at risk of foreclosures. By the end of the day the story had gone viral on the Internet and was picked up by multiple large media, including the Wall Street Journal.  Of cou...

Stocks climbed to 2½-year closing highs after Egyptian President Hosni Mubarak stepped down. The Dow Jones Industrial Average rose 43.97 points, or 0.4%, to 12273.26, its highest close since June 13, 2008, and the second consecutive week of gains. The measure rose 1.5% this week and posted its st...

Back in 2008, when the housing market was in even deeper trouble than it is in now, Congress passed the Housing and Economic Recovery Act to help move a glut of homes off the market. One of the key provisions was a tax credit for first-time homebuyers. That provision would be extended (twice) - a...

You might call it, "Walking away from your home, for dummies." Brent White, the University of Arizona law professor who's made a name for himself by urging more underwater homeowners to consider walking away from their homes, has published a 168-page book to help borrowers who are wrestling with ...

The Obama administration's proposals this morning to extricate the government from mortgage lending sounded the death knell for Freddie Mac and Fannie Mae. They weren't good news for homebuyers, either. In the proposals were changes that will mean more expensive mortgages, with higher fees and, p...

  More good news for the Paradise Valley market ZIP Code 85253 2/1/11 1/1/11     Sales Per Year 332 327 UP Days on Market - Active 284 294 DOWN Days Inventory 423 426 DOWN Pending Listings  $/SF $311 $305 UP Monthly Sales  $/SF $295 $269 UP Appreciation  $/SF 10% - 10% UP Annual Growth in Sales p...

Sales weren't the only reason Centurion Jewelry showgoers were buzzing with excitement this week. Participants in the 10-year-old fair, located near the American Gem Trade Association GemFair Tucson, were discussing the show's decision to relocate closer to Phoenix-a decision that met with mixed ...