Archive for February, 2009
Homeowner Affordability and Stability Plan
February 18th, 2009 categories: Real Estate News
I do not even want to begin to try to digest the President’s Stimulus plan that was passed, so I am starting with the portion that is near and dear to my heart, housing. President Obama is in Phoenix, AZ today to unveil his “Homeowner Affordability and Stability Plan”. Some details of the the plan are outlined on the White House Blog.
I have not read it word for word, but skimming it gives me a few insights.
The program is limited to loans that are held or securitized by Fannie Mae or Freddie Mac. The other interesting thing is that it is limited to loans where the 1st mortgage that is to be refinanced cannot exceed 105% of the current market value (including refinancing costs). While I am sure there are may that fall into that category, I feel that in many areas like Queen Creek, Buckeye or Surprise, it is not going to work for many. The reason is that many people bought in the 2004 – 2006 period where prices rose to their highest level. The market has over-corrected dramatically in those areas. Homes that appraised for $200,000 are selling for $90,000. Many of those people had 100% financing, so the mortgage amounts are going to exceed the 105% limit by a lot. From what I can tell, Read the rest of this entry »
| Discussion: No Comments »
Pita Jungle Opens at Desert Ridge
February 13th, 2009 categories: Desert Ridge Real Estate
I remember when I was just out out of college and we discovered Pita Jungle in Tempe. We used to drive from Scottsdale to Tempe (back when there was no 101 freeway) to eat there. My best friend is Lebanese so I had grown very fond of hummus, baba ganoosh and spanokapita from her mother who is a great cook.
Well, since is opened in 1994, Pita Jungle has expanded to several locations across the valley and most recently it has opened at Desert Ridge. They have created a hip and upscale restaurant including a full bar with flat panel TV’s. There is a large dining room inside as well as a large outdoor patio.
Pita Jungle at Desert ridge is located at 20910 N. Tatum Blvd, Suite 140, Phoenix, AZ 85050. Visit the website for other locations, menu, wines and catering menu….yes they cater too!
See you there!
| Discussion: No Comments »
Luxury Condos at Desert Ridge – The Villages At Aviano
February 7th, 2009 categories: Desert Ridge Real Estate
Luxury Condos in Desert Ridge
Within the last 30 days Toll Brothers has started construction again on another building in The Villages at Aviano. The Villages at Aviano are luxury condos in the heart of Desert Ridge.
These luxury condos have their own private pool and BBQ area, but also get to take advantage of all the amenities of Aviano at Desert Ridge, including the large clubhouse with fitness center, meeting rooms and gathering areas. There are also numerous parks, walking paths, tennis courts, basketball courts and a huge family pool, lap pool & jacuzzi.
Toll brothers had halted contruction on new buildings for a while in an attempt to sell their existing inventory. While they did not sell all of it, they made the decision to move forward with construction. Currently they have 6 of the 14 units sold in the new building. The units are currently at frame stage.
Tremendous deals can be found Read the rest of this entry »
| Discussion: No Comments »
Copyright © 2008 North Phoenix and Desert Ridge Real Estate Listings 