[LETTER TO THE EDITOR] Bravo, Phoenix City Council for call on historic Wright House. (Disclosure: Rose Law Group represents Peter Sperling, Jim Furcini and Andy Ogan in preserving the residential historical character of Arcadia.) In her Republic shout-out, ACA/Preserve Arcadia Neighborhood Group member Sue Bloom explains why preservation advocates “consider the Phoenix City Council’s action on the withdrawal of the… application for HP Landmark designation for the David Wright House to be a victory.” http://bit.ly/2gsWH0o
Explosion of homes in north Peoria could affect school enrollment. “[N]umbers from Belfiore Real Estate Consulting [show four] of the five most active housing developments in the city are north of Union Hills… and closings are up 9.1 percent….” This report in YourWestValley looks at how “city and school officials are keeping a close eye on [the] influx… since two ballot measures — one to fund more schools and one for amenities in the growth area — failed in November.” http://bit.ly/2gxhaGn
More money in home owners‘ pockets, but not in Arizona. According to the new CoreLogic Q3 2016 Equity Report, “[m]ore homeowners are gaining equity and climbing out of negative territory.” See the states with the highest percentage of homes with positive/negative equity, plus get the link to the complete CoreLogic report, at REALTORMag. http://bit.ly/2hmxPcu
Rising mortgage rates could threaten housing demand in 2017. “Sustained increases could lead to ‘rate lock,’ leaving some homeowners reluctant to trade up or down.” Economists from Redfin, Black Knight and Nationwide Insurance weigh in on the higher-rate forecast, in The Wall Street Journal. http://bit.ly/2hq2oP4
Home Builders release 2016 ‘priced out’ estimates. “2016 ‘Priced Out’ Estimates show… that… a $1,000 increase in the median new home price [thanks to added regulation] will leave 152,903 households priced out of the market.” For a brief overview of the “priced-out model,“ and/or to access NAHB’s complete “Economics” report on “[g]overnment regulations [and their] impact on housing affordability,” click to Eye on Housing. http://bit.ly/2hFwLQl
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