Boulevard, Drive, Street ??? Which Name Gets More $$ ??

Which house would cost more...the one on Wisteria Lane or the one on Sesame Street? The name of the road could play a factor. As it turns out, homes on “boulevard” ($117) are the most expensive while the cheapest are those on “street” ($86) – that’s a 36% price difference! Although saying you live on “Whatchamacallit Road” may not sound that fancy, at $109 per square foot, homes located there are actually the third most expensive of any suffix type. In fact, the median home on a “road” is respectively 8% and 9% more expensive than those located on seemingly more upscale-sounding “court” and “circle.” Why is “boulevard” the most expensive address suffix? Well, while the word does have a sophisticated French origin, it actually might have more to do with the mix of the homes located there. Approximately, 37% of homes on “boulevards” are in multi-unit buildings, such as apartments and condos. In contrast, these types of homes make up no more than 16% of homes on every other address suffix. A greater concentration of multi-unit buildings could drive up costs as they are often located in denser, urban areas where space is at a premium. “Boulevard” may be the most expensive suffix but with only a 2% share of total listings, it’s certainly not the most prevalent one. In contrast, 22% of listings are located on a “drive.” That’s even more popular than “street” (19%), “road” (16%), and “avenue” (15%). Now back to our original question (in the title of this post) about Wisteria Lane and Sesame Street. So where are homes more expensive? Based on our analysis above, the price per square foot of Cookie Monster’s home could be 17% cheaper than Susan Mayer’s. Good thing – more leftover cash for cookies! Cookies!! Cookies!!!

$41 Million to go to Worthy AZ Homeowners for Foreclosure and Loan Restitution

The AZ Attorney's General Office has announce that $41 million dollars will be given to homeowners to help keep them in their houses and to provide restitution for borrowers who were treated unfairly by lenders. The plan says they will offer short-term cash assistance, loans and principal reductions for those who qualify. The money is coming from the major banks as part of a national $25 billion lender settlement resulting from foreclosures. The Attorney General is still seeking the right agency to administer the efforts. The Attorney General did say that they plan on "helping homeowners who acted responsibly and did not make bad homebuying decisions that left others paying for irresponsible behavior. " Consumers who believe they have been victims of mortgage schemes in Arizona are advised to call 602-542-1797, email mortgagefraud@azag.gov or go to azag.gov/consumer/foreclosure/settlement.html. Eligible homeowners will be contacted after they are identified by the plan's new administrator. The attorney general will handle enforcement and legal services. They are expecting these efforts to take up to three years. Arizona had been allotted nearly $98 million from the national lender settlement, but the state Legislature plans to take $50 million of the funding to offset the state's budget deficit. A lawsuit challenging that allocation has been file by AZ housing advocacy groups.

Like A Phoenix, Real Estate Values Are Rising From the Ashes !!! By Mary Drefs, GRI, CRS, CDPE Like a Phoenix, the Valley Area Real Estate Market is rising from the ashes. The Phoenix Area is leading the way in the rising real estate values and in the number of homes sold in the past 3 months compared to other major US cities. I assure you that your property has increased in value as well... unless, of course, your property has recently been plagued by a natural disaster such as a fire or flood. If you would like to learn of your PROPERTY'S CURRENT VALUE, visit www.MaryDrefs.com and fill out the Home Value Request form or click on the Home Value Request Button below. I promise to use the same parameters as an appraiser when sending you comparable properties. If you have recently learned that your family is slipping financially and your mortgage is burdensome, you may be a candidate for a short sale. We are successfully closing many short sales and some lenders have even streamlined the short sale process. To learn more about short sales, visit Click HERE and then contact Mary Drefs at 623-694-0354 . Mary will help you evaluate your situation and help you see if the time is right. You may be one of the lucky ones whose property is worth more than you thought and you might be able to conduct a traditional sale and walk away from your property with no credit repercussions. Keep thinking positive thoughts and as you walk through your house keep repeating, "You are rising in value. You are rising in value." Have a great September !!