Woodside Homes and Maracay Homes are coming soon to Lyon’s Gate and the homes will be within walking distance to Higley Elementary and Middle School and William Field High School.
Woodside Homes has designed 4 brand new single story and two story floor plans for Lyon’s Gate. Woodside Homes is expected to introduce innovative floor plans at Lyon’s Gate that bring the latest in home design and energy efficiency. Multiple options and design alternatives will be available to fit the needs and expectations of the modern family. These new home designs will range from 2,785 square feet to over 4,000 square feet.
Maracay will offer seven distinct floor plans in the master planned community located at just southeast of Higley and Ray roads in the East Valley.
A growing destination for first time buyers, Gilbert was named the No. 33 best place to live in the country by CNN Money in 2012. The area features a booming healthcare scene with the recent additions of The Banner MD Anderson Cancer Center and three other state-of-the-art hospitals. Affordable homes, a safe community and seemingly never ending sunshine have lured many to the Phoenix suburb in recent years.
The 202 Freeway is about ½ mile from the Lyon’s gate community and the Superstition Freeway, (The 60) is about 5 miles to the north.
Sterling at Silverleaf plans a second phase of 12 luxury villas, with construction scheduled to start in April.
The first phase of 16 villas, launched in November 2011, has included more than $9million in sales. Three units are still available with prices starting at $1.7million.
The second-phase villas of 3,900 to 4,200 square feet start at $2.2million.
The fiscal cliff deal preserves the Mortgage Forgiveness Debt Relief Act, while also bringing back a popular tax break on mortgage insurance premiums.
The mortgage industry can breathe a sigh of relief with the final fiscal cliff deal bringing back a popular tax break on mortgage insurance premiums and debt forgiveness for borrowers who go through a short-sale or some other type of debt reduction.
A topic that is still up for discussion and likely to surface later in the year is whether the popular mortgage interest tax deduction will be part of a long-term deficit reduction plan.
Still, the deal passed by the Senate and House on Jan. 1 is one that leaves room for hope in the housing market.
The American Taxpayer Relief Act of 2012 apparently extends a law that expired at the end of 2011, which allowed for the deductibility of mortgage insurance premiums, according to a research report from Isaac Boltansky with Compass Point Research & Trading. The law now applies to fiscal years 2012 and 2013.
Scottsdale-based Camelot Homes plans to build 50 homes in a 40-acre gated community called Bacara in north Scottsdale.
The Scottsdale Development Review Board gave conditional approval Dec. 6 for Camelot’s plans for Bacara. The subdivision is northeast of Scottsdale Road and the Alameda Road alignment one-half mile north of Pinnacle Peak Road.
If approved, Camelot hopes to begin site improvements in the first quarter of 2013 and finish two model homes by the end of the year.
Camelot will offer four to six models at Bacara of 3,000 to 4,000 square feet.
The Bacara property was rezoned to increase the number of homes from 24 to 50 home sites. But Camelot’s plan added open space from 12.4 to 17.8 acres.
Bacara is surrounded by the Los Portones community, Pinnacle Reserve I and Pinnacle Reserve II.
Camelot’s lots at Bacara of 80 by 140 feet are far smaller than the one-acre home sites under a previous plan for the property. Building height is limited to 30 feet.
Fixed-rate mortgages sank down near their record lows last week , according to Freddie Mac’s weekly mortgage market survey. The low mortgage rates are helping to keep homebuyer affordability high and unlock savings for home owners.
Freddie Mac reported the following national averages with mortgage rates for the week ending Dec. 13:
30-year fixed-rate mortgages: averaged 3.32 percent, with an average 0.7 point, dropping from last week’s 3.34 percent average. The record low for the 30-year fixed-rate mortgage was set last month, averaging 3.31 percent. A year ago, 30-year rates averaged 3.94 percent.
15-year fixed-rate mortgages: averaged 2.66 percent, with an average 0.6 point, dropping from last week’s 2.67 percent average. The all-time low for 15-year rates was also set last month, averaging 2.63 percent. Last year at this time, 15-year rates averaged 3.21 percent.
5-year adjustable-rate mortgages: averaged 2.70 percent, with an average 0.6 point, rising from last week’s 2.69 percent average. Last year at this time, 5-year ARMs averaged 2.86 percent.
1-year ARMs: averaged 2.53 percent, with an average 0.5 point, dropping from last week’s 2.55 percent average. A year ago, 1-year ARMs averaged 2.81 percent.
New homes in the upscale north Scottsdale community Sterling at Silverleaf have landed the gold-level Green certification by the National Association of Homebuilders.
It’s the first housing project in Arizona to receive the designation. The community’s developer, hired a home-energy rating team to compare houses in this project against a traditional home, similar in size and layout. The test found a Sterling Silverleaf green home saved 74 percent more in energy costs per month compared with a regular house.
Silverleaf is located in DMB’s DC Ranch development. Prices for a Sterling-built house in the development start at $1.36 million.
Not so surprisingly, yet another national housing report — this time from the Federal Housing Finance Agency — has determined that home price gains this year in both metro Phoenix and Arizona have once again far outpaced the rest of the country.
The FHFA data released Tuesday shows Arizona landed the No. 1 spot for the biggest year-over-year increase — about 20 percent — in median sales prices in the third quarter. The District of Columbia trailed behind in second place with a 15.5 percent jump during the same period, followed by Idaho’s 9.5 percent rise, according to the report.
Arizona’s home price appreciation was also significantly greater than the national year-over-year average of 4.04 percent in the third quarter. However, the Grand Canyon State was still notably down — by almost 37 percent — from the boom times in 2007, the report said.
The FHFA report also ranked home price appreciation in the nation’s 25 largest metropolitan areas and Phoenix clenched the No. 1 spot there as well — and by a long shot — for both year-over-year and quarter-over-quarter gains.
The Valley’s 26 percent spike in median prices from the third quarter last year was way ahead of the Houston and Miami metro areas, which both saw gains of roughly 10 percent.
Phoenix’s 7.2 percent jump from just the second quarter of this year also far outpaced the second-place ranking of 3 percent in the Oakland, Calif. area, the report said.
While housing data from different research entities almost always has some degree of variation, the FHFA figures seem to be in line with some previous reports this summer from Zillow Inc. and CoreLogic. Both ranked Phoenix and Arizona as having the biggest upswing in home prices.
The estimated $50 million luxury apartment project along Tempe Town Lake whose fate had been pending city approval is almost a done deal.
The Tempe City Council approved blueprints for The Lofts at Hayden Ferry late last month. That approval paves the way for San Diego-based developer OliverMcMillan to move forward with the purchase of the 3.7-acre site just east of the Hayden Ferry Lakeside project near Rio Salado Parkway and Mill Avenue.
That land deal is slated to close in December for roughly $6 million. The property currently is owned by an entity controlled by Sunbelt Holdings LLC in Scottsdale.
The four-story project, which is a first in the Valley for OliverMcMillan, will consist of two levels of underground parking and 264 units; that’s up from the previously allowable density of 226 units, which the Tempe council amended at last month’s meeting.
Construction likely will start by mid-2013 and cost upwards of $50 million.