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E M A I L U S AT N E W S T I P S @ A R I Z O N A R E P U B L I C . C O M O R C A L L U S AT 6 0 2 - 4 4 4 - N E W S ( 6 3 9 7 )
CATHERINE REAGOR REAL ESTATE
What does President Trump mean for housing? It’s early days in President Donald Trump’s administration, but he’s already moving fast to make changes in the housing market. An hour after being sworn in, Trump stopped a cut to FHA costs that could save first-time homebuyers $500 a year. The longtime real-estate developer’s other plans could cap the popular mortgage-interest deduction, do away with the federal financial and mortgage watchdog and privatize mortgage giants Fannie Mae and Freddie Mac. Also, Trump’s order Wednesday to start a border wall as well as his plans to deport many more illegal immigrants mean fewer available construction workers, particularly for homebuilding.
The mortgage-interest deduction Trump’s pick to run the U.S. Treasury Department, former Wall Street banker and movie producer Steve Mnuchin, wants to limit the mortgagerate deduction. It’s not clear yet what he plans exactly. But housing advocates, including the National Association of Realtors, are concerned because deducting interest payments on mortgages is a big draw for many U.S. homeowners. Now, the mortgage-interest deduction is capped at $1 million on loans, if you are married and filing jointly. The cap is $500,000 for homeowners filing taxes solo.
Trailers find places as modern, frugal homes TRACEE M. HERBAUGH ASSOCIATED PRESS
When Mary Ann Ridenour and Bill Ridenour became empty nesters last year, their 3,200-square-foot home suddenly seemed superfluous. As many couples at this stage of life do, the Ridenours decided to downsize. But unlike many others, they left their big house in a golf course community for a trailer home. “When I tell people what we did they think I’m joking,” said Mary Ann Ridenour. Their move, however, is not as uncommon as you might think. As housing costs — both buying and renting — remain high in many parts of the country, some people are finding trailer homes to be an
Goodbye to Dodd-Frank? The 2010 Dodd-Frank Wall Street Reform legislation, a regulatory package to help prevent another housing boom and bust, could be on Trump’s chopping block. Mnuchin has said he wants to get rid of parts of Dodd-Frank that are slowing bank lending. Some housing analysts say the mortgage reform part of the legislation has kept some homebuyers from getting loans. Other housing advocates say the lending rules are needed so borrowers aren’t preyed on and pushed into subprime loans like during the boom.
NATHAN SHAFER/KODI BRYANT VIA AP
See TRAILERS, Page 3R
Kodi Bryant on the porch of her trailer home in Golden, Colo.
MALLORY PRICE/ GANNETT AND GETTY IMAGES
Purchase or Refinance Loan amounts between
Refinance 150,000 to Now! $417,000 $
• No Points • No Fees • No Closing Costs
See REAGOR, Page 3R
You don’t have to pay a lot in fees to get a great rate!
480.607.7906
or visit us at scoutmortgage.com 9304 E Raintree Dr., #110 Scottsdale, AZ 85260 Visit us on Facebook
This advertisement is a solicitation by Scout Mortgage, Inc. for a mortgage loan. Loan amounts $150,000 to $417,000. 15 or 30 Year Fixed. Closing Costs paid at closing include title, recording, processing, underwriting, and escrow fees. Prepaid taxes/insurance not included. Good credit required. Owner Occupied homes only. Verifiable income required. Impounds may be required. Consolidating debt may increase rate. Your rate and term may vary. Not all applicants will be approved. Call for details. MB0903218/NMLS# 56553
AR-0008630723-01
PHOENIX | 4719 East Palo Verde Drive | Open Today 1–4PM
CAPTIVATING CAMELBACK VIEWS. Nestled on a cul-deMLS# - 5540209 sac lot with stunning views of Camelback Mountain vistas. This Bedrooms - 4 generous split floor plan home is situated on over a third-ACRE and is dressed in serene Sonoran desertscape. A gated courtyard Bathrooms - 3 Pool - Yes with pond invites you in. Backyard oasis is the home’s crown jewel with a pool and spa back dropped by soaring mountain peaks. Sq. Ft. - 3,410 Sunny and spacious, the interior is just as special. Formal living, Garage - 2-Car Garage dining and family rooms. Eat-in kitchen. A large bonus room Lot Size - 14,527 sq. ft. enjoys dual private entrances. Sizeable master suite. Oversized ZIP Code - 85018 two-car garage with epoxy floor. Retractable awnings. New A/C unit. Plentiful storage throughout. Long front drive makes hosting Online Pics - ThoseCallaways.com guests a breeze. – Joseph Callaway Price - $950,000
Brought to you by Those Callaways, Luxury Circle International (480) 596-5751
see more inside AR-0008628263-01
PARADISE VALLEY | 5635 East Lincoln Drive #40 | Open Today 12-4PM
COVETED MOUNTAIN SHADOWS EAST. Filled with warmth MLS# - 5540149 and sunshine, this lightly-lived-in jewel (only 2.5 years old) dazzles Bedrooms - 3 with dramatic Camelback Mountain and Mummy Mountain views. Bathrooms - 3.5 Camelback Mtn views from kitchen, great room, master suite, Pool - Community office. Mummy Mtn views from front bedroom, lovely morning patio/courtyard. Living room w/floor-to-ceiling view window. Sq. Ft. - 3,159 Dining room w/wall-width doors to cocktail patio. Posh kitchen. ZIP Code - 85253 Master retreat w/large dressing closet. Several patios w/incredible mountain views. Guard-gated community w/pool, clubhouse. Online Pics - BaldwinTeam.com Price - $2,125,000 Architecture: Mike Higgins. Built by: Russ Mason, Catalina Homes. Interiors: Nancy Kitchell. Owner is licensed realtor in Arizona. Visit tourfactory.com/1519711. Inside: details, directions.
Brought to you by Sandra Baldwin, Launch Real Estate
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