Archive for March 13th, 2007

Last week’s biggest real estate deals

Tuesday, March 13th, 2007

An Avnet Inc. CIO, an owner of a grocery and pharmacy chain, a former NBA player and a president of a gas station corporation are among the buyers and sellers in this weeks done deals.

$4,100,000.

Ralph Thomas and his wife Carolee of Beverly Hills, Calif. purchased this 6,711 square-foot home with 700 square-foot pool originally built in 1981 in the Finisterre Area of Paradise Valley northeast of the Camelback Mountain-Echo Canyon Recreation Area. The sellers were Robert W. Mason and Eloise A. Mason, as Trustees of the Robert W. Mason and Eloise A. Mason Trust. Robert Mason is a former CIO of Cendant Corp. who became vice president/CIO of Avnet Inc. in March 2002.

NAR: Housing Recovery Likely This Year, But Timing Isn’t Clear

Tuesday, March 13th, 2007

RISMEDIA, March 14, 2007-Unusual weather patterns and problems in the subprime lending marketplace are creating challenges in assessing housing market conditions, but a recovery is likely this year, according to the latest forecast by the National Association of
Realtors(R).

David Lereah, NAR’s chief economist, said there is some ambiguity about the current housing market. “Our goal each month is to fine-tune the forecast based on the latest housing data and a variety of economic indicators, but extraordinary weather variations are skewing home sales and clouding the picture,” he said. “Underlying trends point to a housing recovery in 2007, but it will take a couple months for us to get a better handle on it. Existing-home sales are expected to slowly improve from what appears to be the cyclical low last fall, but we think there will be some additional pain in the new home market, which hopefully will start to rise later in the year.”

“What did I sign, anyway?”

Tuesday, March 13th, 2007

Staring down a stack of densely worded loan documents can be one of life’s scariest, and sometimes most baffling, moments.

And when mortgage-broker fees take a dramatic upward swing at the end of the transaction, it’s often hard to figure out what happened or why. “It’s like being sick but not knowing why you’re sick. You only know something is wrong, but you are not sure what it is,” says Sean Moore, a 29-year-old financial adviser from Seattle who still wonders what happened with his first home loan from five years ago.

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