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R E A C H U S || R A N D Y C O R D O VA , R A N D Y. C O R D O VA @ A R I Z O N A R E P U B L I C . C O M || T H I N G S T O D O . A Z C E N T R A L . C O M
CATHERINE REAGOR REAL ESTATE
CREATING A
magical mantel
Don't panic: Drop in Valley sales just a blip
Suggestions range from white lights to glass dome MELISSA RAYWORTH ASSOCIATED PRESS
Home sales in metro Phoenix plunged during November. But before anyone starts talking about a serious slowdown or using the dreaded crash word:. The drop in sales is likely only temporary and not due to a big decline in buyers. New federal mortgage rules created to protect consumers are slowing down the home sale process. And it’s a temporary slowdown, as many housing experts expected, they say. In November, 6,064 homes sold Valleywide, down more than 1,000 from October, according to Arizona State University’s W.P. Carey School. The region’s median home price was flat at $225,000. One Arizona housing expert thinks the new rules known as TRID delayed a lot of home sales in November. TRID has become the well-known and sometimes cursed acronym in the housing market for the Truth in Lending Act and RESPA Integrated Disclosure rules that went into effect in early October. “The data in November points out a temporary disruption in volume and the median sales price,� said housing expert Tom Ruff of the Information Market, which is owned by the Arizona Regional Multiple Listing Service. “We believe TRID has pushed back several hundred closings causing lower than expected sales volume as well as a decline in the median sales price.� The new mortgage rules were created to give borrowers more mortgage information before they close on a house. Borrowers must now receive a loan estimate form three days after they apply. An appraisal can’t be ordered until a borrowers gets the estimate. Also, a home closing can be delayed if a borrower doesn’t get a cost-disclosure form three days before they are expected to sign the mortgage and close the deal. Sales are bound to take longer until lenders, title agencies and borrowers get used to the new rules. Most of the slowdown in home sales is the result of TRID, but not all of it. ASU housing analyst Mike Orr told
When January arrives, even Christmasloving homeowners might be happy to put away Santa and his reindeer. But the postholiday mantel and fireplace can look strangely bare. The days are still short and the weather chilly, so “the key word after the holidays is cozy,� says Pittsburgh-based interior designer Cathy Davin. A well-decorated fireplace — even without a wood-burning fire inside — can be the perfect source of cheerful style and warm glow throughout the first weeks of the new year. Here, Davin and two other designers — HGTV stylist Meg Allan Cole and Atlantabased interior designer Mallory Mathison — offer four ideas for making the most of your mantel and fireplace throughout the postholiday season: See MANTEL, Page 3R
MEG ALLAN COLE CRAFTS VIA AP
Meg Allan Cole transforms simple cardboard cones into an illuminated forest or mountainscape for a modern winter mantel.
See REAGOR, Page 3R
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MAGNIFICENT IN PARADISE VALLEY’S CLEARWATER MLS# HILLS. Prominently located behind estate gates on nearly Bedrooms an ACRE lot with breathtaking Camelback mountain views. Bath Beautifully manicured lawns, a grand courtyard and a large Pool picturesque window wrapped rotunda foyer welcome you. Rooms inspire love at first sight. Soaring planked and beamed ceilings are Sq. Ft. throughout. Sleek custom cabinetry and large island in the five star Parking kitchen. Sub-Zero and Dacor appliances. The king sized master Lot Size incorporates a gym, stunning fireplace, sitting room, deep walk-in ZIP Code closet and luxurious bath. The outdoor paradise includes a lush garden, new lap pool, cook center, observation deck and fireplace. Online Pics A truly remarkable estate! – Joseph Callaway Price Brought to you by Joseph & JoAnn Callaway, Those Callaways Luxury Circle International, (480) 596-5751
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PHOENIX | 7102 North 23rd Way | Open Today 12-4PM
SLEEK, CHIC VIEW-RICH CONTEMPORARY. Sizzling MLS# with an exquisite mix of drama, elegance and sophistication, Bedrooms this ultra-stylish contemporary exudes a sleek, chic ambience Bath from its showcase courtyard entry to its striking glass walls to Pool its shimmering pool and rooftop view-deck. Huge walls of glass blissfully blur the line between indoor and outdoor living, dining Sq. Ft. and entertaining areas. Showplace kitchen. Sanctuary-like master ZIP Code retreat with posh private bath, view-rich balcony. Expansive patios, custom pool, barbecue island, rooftop stargazing deck. Online Pics Price Amazing city lights views. Great freeway access. Just minutes to airport, downtown, Scottsdale. Very, VERY wow. Visit tourfactory. com/1483727. See inside for details and directions.
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