This year has been like the last couple of years in the Phoenix real estate market, loaded with change. That’s the only constant. We need to look at the 2023 Phoenix real estate market update YTD. In particular, we are dealing with the effects of higher mortgage interest rates. This has affected both buyers and sellers. What about the housing crash that some forecasted at the first of the year. Did that come to pass? What happened with prices this year?
The Lakes at Rancho El Dorado
The Lakes at Rancho El Dorado is a 575 acre lake community in the city of Maricopa in Pinal county with a variety of floor plans from many different builders. Boating is allowed on the lake for non-motorized watercraft. A new 8 acre park with two little league ball fields is under construction within the community boundaries. For more information, see below.
The Maricopa county recorder recently rolled out a tool to help homeowners avoid title fraud. It has been on the rise and can be financially devasting to a homeowner. This title fraud alert tool notifies homeowners when a document is being recorded that has their name or the name of the business or trust. Instead of finding out months or years after the illegal act property owners can be notified almost immediately.
On May 25, 2023 the U.S. Supreme Court issued a ruling in the Tyler vs. Hennepin County case. The Supreme Court unanimously ruled that Hennepin County violated the 5th Amendment Takings Clause when it confiscated, sold and kept the entire amount of the sale. The $25,000 of Ms. Tyler’s equity was kept by the goverment when it was sold.
Some potential home owners want to look at something besides a block wall when they’re in their backyard. That’s where waterfront properties in Phoenix residential boating communities become very appealing. Then there are those that ask, “Does this lake allow boating?” This leads to another set of questions. For example, some lake communities don’t allow any type of watercraft or boats, and some only allow canoes or kayaks. Which ones allow electric pontoon boats? If you want to learn more about boat friendly lake communities in Phoenix, keep reading.
Once you’ve uploaded and sent all the documents that your lender has asked for, it’s your turn to ask the questions. How do you know the lender or loan officer has chosen the best loan program for you? Have they shared the closing costs that you’ll need in addition to the down payment? You need to make sure the lender explains some key issues when it comes to getting prequalified. Continue reading to learn more about the important topics you need to be discussing with your lender.
Home Equity Theft is a phrase that is used when governments and investors use tax liens and tax deeds to legally take a homeowner’s property and their equity. This has been become common practive in many states. It is finally getting the attention it deserves now that the case Tyler vs. Hennepin County is in front of the U.S. Supreme Court.
The Phoenix real estate market in 2022 was quite a ride! Appreciation in the first half of the year was followed by falling prices in the last 6 months. The result was that prices at the end of the year were roughly where they began at the first of the year. What happens in 2023 is the speculation that real estate pundits, commentators, and Youtube channels love to embrace. There is no lack of opinions on this subject.
Things to know when buying a new home
A brand new home can be so appealing in many ways. You can choose your flooring, cabinets, type of counter tops and numerous upgrades. Not to mention all the appliances are and mechanical systems are new. So what if anything could go wrong with purchasing a new build home? Well, let’s consider 9 tips to help you when buying a new build home from a builder to make it a smooth experience.
A community facility district is often referred to as a CFD. You may not always be aware that a house is located in a CFD. So what are the drawbacks or advantages and how do you determine if a house is in a subdivision with a community facility district? Are there any tell tale signs that can help you know?