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What the Rise of Phoenix’s Housing Market Says About the U.S. Economy

The rapid rise of a market that housing analysts once thought might not recover for decades demonstrates the strength of the national recovery Phoenix’s battle-scarred housing market is expected to be the strongest in the country in 2017, another sign that the U.S. housing market is returning to full strength. The rapid rise of a market that housing analysts once thought might not recover for decades demonstrates the strength of the national recovery, as home prices this week hit a new record. Jonathan … [Read more...]

Millennials expect their parents to help them buy houses

Buying a house is generally considered a sign of financial independence, but apparently most young people want help. Even though 58% of first-time homebuyers aged 18 to 34 think buying a house is an adult-like accomplishment, 66% expect some sort of help from parents, according to a recent report from Bank of America. You might be thinking, “Ugh. Millennials.” In some ways, that’s a fair reaction. Some people expecting financial assistance from their parents when buying a home may also fit the stereotype that … [Read more...]

Does ‘staging’ a home lure buyers into paying more?

  By DANIELGOLDSTEIN PERSONAL FINANCE REPORTER Plastic surgery might improve one’s looks. But so might a little makeup. When it comes to making your house more attractive to prospective buyers, home staging is definitely in the makeup category. What is home staging? Just like makeup, it’s an on-the-surface solution. Staging can help your place look its best during the sales period without the cost or expense of a renovation. For about $3,500 to $4,500 a month, the home you’re … [Read more...]

U.S. Home Builder Optimism Slipped in July

U.S. home builders said they lost a bit of confidence in July due largely to uncertainty over how the housing market will perform in the next six months, though they maintained a positive outlook overall as sales strengthen. The National Association of Home Builders said Monday its monthly index of builder confidence in the market for single-family homes slipped one point to 59 in July. Economists surveyed by The Wall Street Journal expected a reading of 60. Economists look at builder confidence because when … [Read more...]

Are We Entering A New Housing Bubble?

Home prices are rising too fast in much of the country. In Dallas and Denver, prices have surpassed their prior peak and have risen over the past two years by 18% and 20%, respectively. Similar gains were recorded in many Western cities, including Seattle and San Francisco, regaining most of the price declines during the bust years to reach very close to their prior peak. Nationwide , home prices have risen by 10% over the past two years, according to the Case-Shiller repeat price index, and by 13% in the median … [Read more...]

The Best Year for Sales Since the Housing Boom

The end of the year brought a sizable boost to existing-home sales, as delayed closings from new mortgage rules pushed some would-be November transactions to December, according to the National Association of REALTORS®. Existing-home sales — which are completed transactions for single-family homes, townhomes, condos, and co-ops — rose 14.7 percent month-over-month to a seasonally adjusted annual rate of 5.46 million in December. Sales are now 7.7 percent above a year ago. That marks the best year of … [Read more...]

This Scottsdale hotel is getting a $22M makeover, making it the largest resort renovation in the city

Scottsdale's residents like to look as youthful and fresh as possible, and now a resort in the city is doing the same. Chaparral Suites in downtown Scottsdale is undergoing a $22 million makeover to become the Embassy Suites by Hilton. The massive cost of renovations makes the project the largest resort renovation in Scottsdale. No stone will be left unturned in the project. Every single aspect of the 15-acre area is getting redone, from the lobby to the guest rooms to the exterior. The renovation … [Read more...]

Our Economist’s Top Tips for Selling a Home in 2016

If you’re planning to sell your house this year, well, you’re in luck. “The 2016 housing market is forecasted to be mainly a seller’s market, filled with increasing home prices, relatively low inventory, and fierce competition between buyers,” says Jonathan Smoke, chief economist for realtor.com®. But you could still make missteps on the way to the bank. Yes, your house will likely sell, but when? Remember, time is money. “For sellers, it’s about understanding the ins and outs of their local market so they … [Read more...]

Ritz-Carlton project in Paradise Valley will cost $2B, feature largest pool in North America

After long deliberation, the Ritz-Carlton, Paradise Valley has been approved to be built by Paradise Valley Town Council. The property, under the management of Scottsdale's Five Star Development, is set to break ground in spring 2016 and to be finished by 2018. The project will cost an estimated $2 billion. The property's main feature will be the 200-room, 352,000 square-foot Ritz-Carlton hotel. One of the more notable pieces to the new Ritz-Carlton is the pool that will span more than 400 … [Read more...]

Tips for Tax-Savvy Homeowners

With nearly three months left in 2015, jumbo-mortgage borrowers can make tweaks to cut their tax bill in April Autumn chores: raking leaves, weatherproofing, storing the patio furniture and preparing for next year’s tax returns. With nearly three months left in the year, jumbo-mortgage borrowers still have time to make tweaks that can lessen what they owe in April. Here are some tips from tax experts—but be sure to consult a tax professional for specifics on your return. First, the tax rules are tricky for … [Read more...]

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