Mortgage News

Volume 3 Issue 7 : July 2006  

Phoenix tops U.S. in home price appreciation

Phoenix continues to have the highest home price appreciation across the country, according to the PMI U.S. Market Risk Index.   (more info…)

Three East Valley cities named top places to live 

It’s true: Mesa has a reputation for being somewhat of a boring bedroom community. But a report released Monday might change people’s minds about the fast-growing city with a small-town feel — and plenty of golf courses nearby.   (more info…)

America's best places to live

Americans are flocking to places that offer big-city opportunities and amenities -- with a lot more green space and a lot less stress.    (more info…)

Developer seeks help from city

Phoenix has agreed to negotiate with a group of developers that wants to build a massive $900 million mixed-use project across three square blocks on the southern end of downtown.    (more info…) 

Garfield, North Garfield become historic districts 

After 12 years of planning, the Garfield and North Garfield neighborhoods in central Phoenix have been declared Phoenix historic districts.    (more info…)

Buckeye set to annex 108 square miles   

Buckeye is a place where the best breakfast in town is right on Main Street, where a man still feels comfortable leaving his car running as he jets inside a corner store.    (more info…)

Growth lull may aid Pinal

While the rest of the Valley slows, Pinal County 's housing market may just be settling.    (more info…)

Home builders, neighbors offer stiff competition 

Following decades of growth measured mostly in new prisons and mobile homes, any cooling hitting the Pinal County home market is a matter of perspective. And from the existing homeowner's perspective, it hurts.     (more info…)

What's in a stadium name?

The Arizona Cardinals' wait for a new stadium is just about over, but they'll have to show a little more patience to land a multimillion-dollar corporate naming rights deal.    (more info…)

Cardinals Stadium slated for 2009 March Madness action     

A big-time money event is coming to the Arizona Cardinals' new stadium in Glendale , state officials are saying, as a bit of March Madness is headed this way.    (more info…)

Westgate Center cruising toward finish line     

Most of the heavy lifting is done on the first phase of Westgate City Center , the massive retail, entertainment and office project anchored by Glendale Arena.   (more info…)

Westgate Center to welcome Garduño's eatery in spring     

Garduño's Margarita Factory says it will open its first West Valley location next spring at Westgate City Center , the massive retail, entertainment and office project anchored by Glendale Arena.   (more info…)

Skye heralds feast of upscale West Valley restaurants

When musicians Terry and Anne Davies moved from England to Glendale 's Arrowhead Ranch neighborhood in 2000, the husband-and-wife duo was flabbergasted at how far they had to travel for a fancy meal on the town.   (more info…)

Griffin's Scottsdale Resort sold 

Former talk-show host Merv Griffin has sold the Hilton Resort Scottsdale, the last of his U.S. hotel holdings.   (more info…)

Builders regroup in Valley

Home builders have become victims of their own success.  (more info…)

Home builders agree to give workers back pay

More than 135 construction workers received back pay Tuesday after two home builders agreed to pay them directly and bypass their former employer.    (more info…)

Scottsdale Princess sells for $345 million

Strategic Hotels & Resorts Inc. Wednesday announced plans to acquire The Fairmont Scottsdale Princess for $345 million.    (more info…)

Liens worth $3 million filed over high-rise project

Five subcontractors that have worked on the high-rise hotel south of Chandler Fashion Center have filed mechanic's liens worth more than $3 million against the property.   (more info…)

City is taking bids for $10 mil project to improve golf course

Looking to make its links more appealing, Scottsdale is preparing to tee off on some improvements to the Tournament Players Club of Scottsdale's Desert Golf Course.   (more info…)

Foreclosures on rise in Arizona, Valley

Home foreclosures are on the rise in Arizona as the housing market continues to cool down and interest rates rise.   (more info…)

For a recent list of foreclosures in the Valley, please email me at Lillian.Wong@GreatSWMortgage.com. 

Moon Valley parcel to house condo units

Neighbors in Moon Valley have watched plans for an empty 5-acre "nuisance" lot come and go for more than 30 years.   (more info…)

Ellman Cos. buys Fountain Hills land for $133M 

The Ellman Cos. completed the acquisition of the 2,200-acre Goldfield Preserve property, located just east of Fountain Hills, for $133 million in cash.    (more info…)

55th Ave. route for freeway selected

The western leg of the South Mountain Freeway will connect to Interstate 10 at 55th Avenue , the Arizona Department of Transportation announced Thursday, capping years of debate with a return to a plan first proposed 20 years ago. (more info…)

Valley offices swept up as part of $273 million deal 

Four Valley office complexes are included in a $273 million deal that has AmeriVest Properties Inc. selling its multistate portfolio to Koll/PER LLC.     (more info…)

Trying to soothe light-rail gripes

Almost every day since light-rail construction started a year ago, somebody has lodged a formal complaint.   (more info…)

Economic Calendar     

Remember, as a general rule, weaker than expected economic data is good for rates, while positive data causes rates to rise.    (more info…)

Suggestions  

If there are any topics of interest that you would like to know about from a lender’s perspective, I welcome your thoughts, ideas, and suggestions.  Please submit your ideas to me at Lillian.Wong@GreatSWMortgage.com.

Leading Indexes  

For current prime rate, LIBOR rates, and other major interest rates, please click here.

Past Newsletters 

For copies of past newsletters, please click here.

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