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real estate Archives

Zoning affects how real estate may be used

Our readers may have noticed that it is not uncommon for similar types of buildings to be grouped together. For example, they may notice that many restaurants and shops all appear on the same blocks, while single family homes are separate and apart and generally grouped together. This is due to zoning, an area of real estate law that regulates where certain types of homes and businesses may be located.

Buying rental property

Rental property may be a way to earn long-term profits from real estate. The historic average returns on single-family rental homes is approximately 9 percent each year from rental income and price appreciation. But, owning and managing rental property takes time, planning and a bit of savvy.

Arizona housing market growing

Our state's housing market, homebuilding industry and residential real estate market grew in 2017, according to a residential market research firm. Home sales, prices and agents competing deals also rose last year. This real estate growth can provide opportunity, but also the need for continued legal scrutiny.

Arizona landlords face numerous requirements

Landlords owning commercial real estate must comply with numerous laws governing tenant rights. In fact, RentCafe listed Arizona as the fifth best state for renters to live based on its review of landlord-tenant laws across the country. The state scored 70 out of a possible 100 points in this report. Vermont had the most favorable laws and scored 90. Renters in Arkansas have the least protection because that state ranked last with a score of only 12.5.

Congress reviews mortgage changes

Congress is reviewing reforms to housing finance that could impact real estate financing in Arizona and across the country. Senators are involved in negotiations on legislation that could place Fannie Mae and Freddie Mac into receivership and repeal their charters. Multiple mortgage guarantors would replace these financing agencies in the plan under negotiation.

New law hinders zoning protests

The Arizona legislature passed a real estate law last spring that will have one of the most impactful changes to land use in 10 years. The legislation adds numerous procedural requirements for neighbors formally making re-zoning objections to local governments. The law took effect in August and makes major changes to the rules concerning protest signatures. Proponents claim that is promotes business, growth and economic development and provides rules like county zoning laws.

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