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real estate: The Next Building Bust - 05/26/08 10:07 AM
CNNMoney.com reports that a combination of the economic slowdown and tighter credit appears to be putting the brakes on nonresidential projects. Even if work continues on those projects already underway, there are signs that the pipeline of new construction is about to dry up. A slowdown in the entire construction market would be bad news for the economy. Investment in nonresidential buildings added an average of $250 billion to the economy every year since 1990. A downturn is also expected to lead to the loss of many well-paying jobs in the months ahead.
Economists say a fall-off in nonresidential construction in … (3 comments)

real estate: Fannie Mae Payment Rules Eased - 05/26/08 09:41 AM
An article from the Arizona Republic reports that lending Fannie Mae is doing away with higher minimum down-payment requirements for borrowers in parts of the U.S. where home prices are dropping. The government-sponsored mortgage finance company said it will require minimum down payments of between 3 percent and 5 percent for all loans it guarantees. That replaces a December rule requiring a higher minimum if the loan was for a home in a ZIP code with declining real-estate prices.
When Fannie Mae tagged metro Phoenix a declining housing market in January, the residential market suffered. Dozens of home sales fell through … (3 comments)

real estate: Two Arizona Cities Holding Steady in Sales and Home Value - 01/10/08 11:13 PM
ASU just posted their latest real estate findings that while sales are in the negative for the most part of Arizona, Scottsdale and Paradise Valley sales are increasing and homes are holding their value and are slowly rising.  This is good news and, hopefully, this will spread a little farther out around Maricopa County.
The Fed may be cutting the interest rate one more time making it about 3 3/4%.  What a wonderful opportunity for those who were thinking about buying.  Don't just think about it any more; get out there!
… (2 comments)

 

Joyce "Joy" Mahaney Brewster

Glendale, AZ

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High Profile Realty

Address: 18185 N. 83rd Avenue, Su. D202, Glendale, AZ, 85308

Office Phone: (623) 486-9050

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Northwest Arizona Real Estate Blog, presented by Joyce Mahaney Brewster of High Profile Realty. Check back often for info on current market trends and analysis and general thoughts on the state of real estate in Maricopa County as well as local news and events. Free multiple listings search with no registration at http://www.joycemahaneybrewster.com.


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