Construction on one of the nation’s first residential projects for the growing number of adults with autism is scheduled to start in central Phoenix early next year.
First Place will be a mixed-use development at Third Street and Catalina Drive. It will have 50 apartments, a teaching and career-development academy and a leadership institute for service providers and doctors when its completed in 2017.
Many renters would be better off buying a home than continuing to pay steep rental costs, finds a new study.
The monthly payment on a median priced home is more affordable than the monthly fair market rent on a three-bedroom property in 76 percent of the U.S. counties, according to RealtyTrac’s Residential Rental Property Analysis, which encompassed 461 counties nationwide with populations of at least 100,000.
Overall Researchers found that fair market rents represented 28 percent of the estimated median household income, while monthly house payments on a median-priced home – which included a 10 percent down payment and property taxes, home insurance, and mortgage insurance – represented 24 percent of the estimated median income.
Originally published in The Daily Real Estate News April 10, 2015
“From a pure affordability standpoint, renters who have saved enough to make a 10 percent down payment are better off buying in the majority of markets across the country,” says Daren Blomquist, vice president at RealtyTrac. “But factors other than affordability are keeping many renters from becoming buyers, a reality that means real estate investors buying residential properties as rentals still have the opportunity to make strong returns in many markets.”
Of the 461 counties analyzed, 351 had house payments on a median-priced home in the first quarter of this year that was lower than fair market rents on a three-bedroom home.
There are only two mistakes one can make along the road to truth; not going all the way and not starting.
This article was written on April 23, 2015 by Candace Taylor and published in the Wall Street Journal.
Jeff Keil paid $2.3 million in 1991 for his townhouse on the Brooklyn Heights Promenade in New York. When he put the roughly 17,500-square-foot house on the market a few months ago, he listed it for $40 million.
The following is a video showing highlights from Pat’s Run this year…and yes if you look at the shots at the finish line, look for the guy in the green shirt with the fatigue style hat facing the runners as they pass by…that is yours truly positioned just like I am every year ensuring no one gets injured (people love to stop and take pictures then get run over by those behind them). All of this to honor a great american and a great Sun Devil but more imporantly to raise money for the Pat Tillman Foundation.
The Arizona Housing Finance Authority (AzHFA), acting on behalf of the Arizona Department of Housing, announced the launch of the new Home Plus program. The loan program will be open Statewide to renters (excepting those in Pima County) looking to become homeowners.
“With the escalating increase in rents, many creditworthy renters are finding it more and more difficult to save for a down payment,” said AzHFA Homeownership Programs Administrator Dirk Swift. “With the HOME Plus program this obstacle has been removed. Home Plus gives qualified renters a pathway to homeownership with a non-repayable down payment assistance grant.”
Believe you can and you’re halfway there.
– Theodore Roosevelt