September 5, 2008 - 2:20PM
Edward Gately, Tribune
Hudson & Marshall, one of the country's largest real estate auction firms, will auction nearly 200 foreclosures at 11 a.m. on Sept. 13 at the Camelback Inn in Paradise Valley.
Owned by national lenders, each home comes with an insurable title paid for by the sellers, and contracts generally close in 30 days or less. Winning bidders will be required to make a $5,000 deposit in the form of cash, cashier's check or certified funds for each property they plan to bid on.
Buyers are encouraged to inspect homes. An open house is scheduled from 1 p.m. to 3 p.m. today and Sunday. For properties, visit www.hudsonandmarshall.com or call (866) 539-4172.
Down-payment help ending
The Oct. 1 elimination of seller-paid down-payment assistance may be temporarily accelerating home buyers to purchase properties before the assistance goes away, according to RE/MAX Elite.
August existing home sales for the Valley were down 1.9 percent from July, to 5,834 sales, but up 35.6 percent from the same month in 2007. The urgency is exacerbated by numerous lenders that are implementing terminations on the seller-paid down-payment assistance programs. The likely impact after October is unclear but could be significant given the prevalence of Federal Housing Administration loans in the Valley, according to RE/MAX Elite.
Trillium announces apartment project
Tempe-based Trillium Residential has announced the opening of the Valley's largest multifamily community in two decades.
Trillium Pinnacle Peak, a 724-unit apartment community, is located at 24250 N. 23rd Ave., Phoenix.
Trillium Residential expects high demand because the area is home to 44,500 jobs. Nearby major employers include Honeywell, American Express, USAA Insurance, the headquarters for PetSmart and Best Western, and John C. Lincoln Hospital.
Shea model homes for sale
Shea Homes Arizona has announced that 25 of its model homes are up for immediate sale.
In the East Valley, homes are located in:
Tuscano at Seville, Bellamonte at Seville, Enclaves at Seville and Sorrento at Seville, all on Riggs Road between Higley and Power roads in Gilbert.
Silverado at San Tan Heights and Cimarron at San Tan Heights, on Hunt Highway at Village Lane in Queen Creek.
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