Archives for July 2008

Statement from First American Regarding Arizona Title’s Closure

One (likely) final follow-up to the saga of Arizona Title. First American Corporation, parent company to First American Title, issued a statement regarding the closure of Arizona Title’s offices. First American is going to be completing escrows started at Arizona Title. “First American Title Insurance Company is the sole title insurance underwriter for Arizona Title […]

Arizona Title Escrows Being Handled by First American

According to an article posted last night on, escrows that were being processed at Arizona Title have been shifted to First American Title. The article cited at Houston Chronicle article that said Mercury Cos., the parent company for Arizona Title here and United Title in Texas, had stopped the funding to force the closure. […]

Slight Technical Difficulties on Bank Owned Homes

Just a quick heads up that we’re aware of the technical difficulties on the Bank Owned Homes page at the moment. You’re looking at the middle of the ocean because the software isn’t seeing any matching properties, which is a side effect of this week’s switch from Tempo to FlexMLS and the different data formats. […]

Arizona Title Shuts Its Doors

Confirmed with two sources (as my journalism teachers always taught us) … Arizona Title is no more. Called the Arrowhead Ranch office and the recording is the after-hours “we are closed” message. No clue what this means for those who have pending closings there but the guess is the escrows have come to a halt […]

Why I Can’t Help You Find a “Good” Area

Nearly every buyer I encounter says they want a home in a “safe” or a “good” area. One put it to me that they want something upper-middle class. Want to know why I can’t do that? On July 18, 2008, the U.S. Department of Justice filed a federal lawsuit against the real estate brokerage doing […]

Lamenting the Housing Stimulus Bill

President Bush signed H.R. 3221, otherwise known as the Housing Stimulus Bill, into law. NAR is rather excited about the bill … but I’m not so sure. One of the more talked-about provisions is the $7,500 tax credit for homebuyers … except it’s not really a pure tax credit. Rather, it’s essentially a 10-year tax-free […]

Running With the Wrong Crowd

Century 21 Canada’s blog ran an article this afternoon about last week’s panel on “Tapping the Global Real Estate Market” at Inman’s Real Estate Connect Conference in San Francisco. Don Lawby, president of C21 Canada, is quoted extensively as well he should be. It’s his company’s blog, after all, and he had some common sense, […]

Phoenix Real Estate Inventory Update: July 29

After a second one-week hiatus, this one caused by a speaking engagement at last week’s Inman Real Estate Connect Conference in San Francisco, we’re back with our weekly market update. The high-level overview of the Phoenix real estate market was earlier today … inventory’s starting to creep up while sales have dropped slightly over the […]

Phoenix Real Estate Market Summer-End Slowing

As usual, a two-parter … We’re seeing a little of the normal summer slowing in the Phoenix real estate market. Listings have crept up over the past two weeks (missed last week’s update while I was attending Inman News’ Real Estate Connect Conference) and sales of single-family detached homes have fallen below 4,000. We’re looking […]

Guess Someone’s Not Having a Good Day on Phoenix’s MLS

Today is day one on FlexMLS, which had an incredibly low bar to cross in surpassing Tempo as an MLS platform. Figuring out where everything is hasn’t exactly been easy, and the system has run slow once or twice today (to the point I was on the phone with the help desk until the problem […]