phil mahr: Real estate investors, do you wish that you could go back in time?
- 06/04/12 06:45 AM
Trustee Auction Sale 320 West Portland Phoenix, Arizona This gorgeous historic home is located in one of the most sought after neighborhoods in Central Phoenix. This home sold for $75,000 in 1988 and double that in 1998. In 2004, right before the "real estate bubble" it sold for $200,000 and finally topped out at $375,000 in 2006. The opening bid at trustee auction is just $57,000! Learn more about trustee auctions and trustee sales in Phoenix and Maricopa County. They are a A truly raw form of capitalism for savvy investors. Trustee sales in Arizona offer a chance to "go … (0 comments)
phil mahr: Phoenix Probate sale offers rare opprtunity for one lucky investor.
- 05/23/12 07:25 AM
27 E Columbus AVE 6 Phoenix, AZ 85012 APPRAISED VALUE: $500,000 Phoenix is the nation's 5th largest city and a major hub of business in the Western United States. Columbus and Central Avenue intersects the heart of Midtown Phoenix, which is a major financial district and collection of historic neighborhoods just north of Downtown. This is one of Phoenix's most vital and heavily trafficked Intersections. It is also one of the region's largest centers of employment, with nearly 60,000 people being employed within just a three-mile (5 km) radius. Columbus Avenue is the only street intersecting the Central corridor which has … (0 comments)
phil mahr: More inventory to hit the trustee auctions in 2012...
- 05/01/12 04:50 AM
RealtyTrac previously projected that close to 1.2 million properties would be foreclosed in 2011, based on foreclosure start activity in 2010. But REO activity through November puts the nation on pace to reach only about 800,000 properties foreclosed for the year. See our year-end report for the final number So what happened to the 400,000 difference in REOs? Many of them will likely be pushed into 2012.According to David M Kinchen of Huntingtonnews.net, "this coming wave of deferred bank repossessions in 2012 is a recent surge in the earlier foreclosure filings that start the foreclosure process. These default filings spiked 33 percent back in August and … (0 comments)
phil mahr: Ali's celebrity charity event helps fight Parkinson's
- 03/26/12 07:16 AM
By Phil Haldiman, Arizona Republic PHOENIX – Everybody knows that Muhammad Ali floats like a butterfly and stings like a bee. But he can also throw a pretty mean fundraising party. Celebrity Fight Night has raised more than $70 million since. it started in 1994, when celebrities first donned oversize boxing gloves and duked it out for the fight against Parkinson's disease in front of 400 people. PHOTOS: Images from Celebrity Fight Night Now a mainstay of fundraising events in the Phoenix area, this year the gala set a record with 1,300 people in attendance and raised more than $9.1 million … (0 comments)
phil mahr: Real estate investors are paying too much tax.
- 03/22/12 05:07 AM
One of my clients just found out that she had missed out on some of the tax advantages of owning multiple income properties in Phoenix. After referring her to my CPA, she found out that she had failed to save a signifigant chunk of change in 2010. Many owners of income real estate are not taking advantage of the available tax benefits. Interest, depretiation, repairs, home office, insurance, theft, contractors long distance and local travel are all deductible expenses for the owner of an income property. Interest is the the biggest deduction. If you own more than one property in a metro area like Phoenix … (1 comments)
phil mahr: 1 in 4 working households spend more than half of their income on housing
- 03/14/12 06:30 AM
As savvy investors become increasingly aware of the trustee auctions, I have seen the high bids increase 3 to 4 % since the end of 2011. Regardless, my investors are as eager as ever to aquire rental housing at the Arizona trustee auctions. They are primarily buying to hold for rental, which is possibly the best investment opportunity in decades. Yesterday, Karen Aho of MSN Real Estate reported: First was the report in February from the federal Center for Housing Policy, which revealed that an astonishing 1 in 4 working households in America — around 10.6 million families — spend more than half of their pre-tax income on … (0 comments)
phil mahr: Banks to pay $20 billion to help borrowers avoid foreclosure, but what about self accountability? Is this another way to strip the American public of self reliability?
- 03/13/12 05:46 AM
So many people claim to be victims of the hyper-inflated housing market of 2007. Apparently, the average American thought that an average working class family would be able to afford a $900,000 single family 3 bedroom home in Arizona by 2013. Others were just lured by the temptation of buying a new boat or vacation when they didn't have the money for it. Or scarier yet, maybe they just didn't think at all. After reading an article from the AP about the $25 billion lawsuit settled between the federal government and the banks, I felt relieved that the banks are officially being held accountable for the … (2 comments)
phil mahr: Support our troops: Mortgage relief for service members and veterans?
- 03/07/12 02:02 AM
I had lunch yesterday with a client who is currently enlisted as an officer in the Navy. As an officer, he is doing quite well. Although his occupation takes him and his family around the world, he is able to invest a portion of his wages in real estate. Currently he is being transferred from Coronado Island in San Diego to Japan for two years. He's in Arizona today learning about the trustee auction process, so he can buy a rental home here before he heads to Japan. Unlike my client, most enlisted men and women are struggling to survive this tumultuous economy. It is troubling … (1 comments)
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