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Juan Grimaldo | THE GRIMALDO GROUP BLOG

Wednesday, November 30, 2022   /   by Juan Grimaldo

Why There Won’t Be a Flood of Foreclosures Coming to the Housing Market

Why There Won’t Be a Flood of Foreclosures Coming to the Housing Market


With the rapid shift that’s happened in the housing market this year, some people are raising concerns that we’re destined for a repeat of the crash we saw in 2008. But in truth, there are many key differences between what’s happening today and the bubble in the early 2000s.
One of the reasons this isn’t like the last time is the number of foreclosures in the market is much lower now. Here’s a look at why there won’t be a wave of foreclosures flooding the market.
Not as Many Homeowners Are in Trouble This Time
After the last housing crash, over nine million households lost their homes due to a foreclosure, short sale, or because they gave it back to the bank. This was, in large part, because of more relaxed lending standards where people could take out mortgages they ultimately couldn’t afford. Those lending practices led to a wave of distr ...

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Wednesday, November 30, 2022   /   by Juan Grimaldo

As inflation continues to soar, here's how Arizona cities rank for affordability

Cities in the Grand Canyon State are less affordable than they were just a few years ago, but when compared to the nation at large, Arizona still remains a relative bargain. In fact, Tucson turns out to be the 24th most affordable locale in the U.S. and the Phoenix metro is among the top 100.
That's according to a Business Journals analysis of the latest data from the Bureau of Economic Analysis' Regional Price Parity Index. The index shows how costs compare in a metro compared to the national baseline of 100. That means a metro with an index of 90 would be 10% more affordable than the national average, for example. That index includes the cost of housing, services and goods as well, providing a more complete picture of affordability.

The data is from 2020, so it doesn't include much of the significant inflation that has transpired during the Covid-19 recovery, but it does show which metros are most well-positioned to capitalize on their relative affordability and which m; ...

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Tuesday, November 29, 2022   /   by Juan Grimaldo

3 Ways You Can Use Your Home Equity

3 Ways You Can Use Your Home Equity


If you’re a homeowner, odds are your equity has grown significantly over the last few years as home prices skyrocketed and you made your monthly mortgage payments. Home equity builds over time and can help you achieve certain goals. According to the latest Equity Insights Report from CoreLogic, the average borrower with a home loan has almost $300,000 in equity right now.
As you weigh your options, especially in the face of inflation and talk of a recession, it’s important to understand your assets and how you can leverage them. A real estate professional is the best resource to help you understand how much home equity you have and advise you on some of the ways you can use it.  Here are a few examples.
1. Buy a Home That Fits Your Needs
If you no longer have the space you need, it might be time to move into a larger home. Or it’s possible you have&nb ...

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Tuesday, November 29, 2022   /   by Juan Grimaldo

How the Metrocenter redevelopment, light rail extension could benefit Arizona chip industry

Developers of the $1 billion Metrocenter Mall redevelopment project are set to move forward with purchasing the 80-acre site and demolishing most of the buildings by next year.
Florida-based Concord Willshire Capital LLC and TLG Investment Partners and Texas-based Hines received the final approvals needed from the city of Phoenix for a tax incentive agreement, or Government Property Lease Excise Tax treatment, last week.

This means the developers will lease the property from the city for 25 years once it's built and pay an excise tax that's lower than what the property tax would be for the apartment complexes. Right now, the site produces $500,000 in property taxes, while the new development will produce $2.5 million to $3 million annually in excise taxes through the GPLET, said Steve Betts, a consultant for the project who is also a managing director at Holualoa Cos.
"The reason that's important is that trying to redevelop an old mall like this is not for the ; ...

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Monday, November 28, 2022   /   by Juan Grimaldo

Home Sweet Home: The Emotional Benefits of Homeownership

Home Sweet Home: The Emotional Benefits of Homeownership [INFOGRAPHIC]


Some Highlights

While there are many financial perks to owning a home, there are also powerful non-financial benefits to consider if you’re thinking about making a move.
Homeownership allows you to express yourself, gives you greater privacy and comfort, enhances your connection to your community and loved ones, and is an achievement to feel proud of.
Let’s connect today to discuss all that homeownership has to offer. ...

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The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395
480-365-8346

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