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CATHERINE REAGOR REAL ESTATE
Legislature takes money meant for aid
GEN X-PECTATIONS Buyers in their 40s and 50s want green features and flexibility Editor’s note: This is the second article in a three-part series about what today’s typical buyer is seeking in a home. Today, we look at Generation Xers, those individuals born around the mid-1960s and through the mid-1970s. Last week, we explored the must-haves of Millennials, and next week we’ll look at Baby Boomers. ILLUSTRATION BY ALIYA MOOD/ THE REPUBLIC AND THINKSTOCK
GREMLYN BRADLEY-WADDELL SPECIAL FOR THE REPUBLIC
If you look up the meaning of Generation X, you might see the group defined as well-educated but underemployed and, allegedly, “disaffected and directionless,� according to one dictionary entry. But most of the Gen Xers Michelle Mazzola has as clients hardly fit that description. Rather, according to the realtor with Berkshire Hathaway Arizona Properties in Gilbert, members of this generation are active within their communities and seem to know exactly where they’re headed, which is up. In fact, a lot of what Gen Xers want in the homes they are going after today comes down to a couple of words: bigger and better. And if Mazzola had to narrow it down, these are the five must-haves on this generation’s list: 1. Larger layouts with flexibility. Some Gen Xers are just looking to accommodate their family, while others may be seeking a generational dwelling that can work for a kid back from college or one who’s living at home while pursuing a degree. See GEN XERS, Page R3
Thousands of Arizonans who thought they were getting help with their housing problems may be out of luck. The $15 million left in Arizona’s share of the National Mortgage Settlement was taken by the state Legislature last week, swept into the general fund. More than a dozen housing non-profits are now scrambling to find ways to help people who were waiting or even approved to receive aid from the fund. This isn’t the first state-budget sweep of money that was given to Arizona to help compensate for bad and even illegal practices during the housing crash. About $50 million of the $98 million Arizona was allotted from the $25 billion settlement from the biggest lenders went to offset state budget shortfalls in 2013. “Housing is taken for granted in Arizona,â€? said Patricia Duarte Garcia, CEO of the Arizona housing-aid group Trellis, formerly called Neighborhood Housing Services. “There’s a lot of important focus on what the budget did to education, but we have to remember children need a stable place to live first.â€? Spending the mortgage settlement to help Arizona residents in need of housing help hasn’t seemed to be a high priority for most of the state’s lawmakers or former Attorney General Tom Horne, who was in charge of disbursing the funds. Last summer, Arizona Republic reporter Ronald J. Hansen and I reported that after having control of $49 million in mortgage-settlement funds for almost two-and-a-half years, Horne’s office had only spent about 28 percent of the money. While the state prosecutor’s office held onto the money, more than 30,000 Arizonans lost their homes to foreclosure. When the state’s mortgage settlement money was finally distributed to housing non-profits in late 2013, Garcia’s group created the Arizona Mortgage Relief Fund. The fund helps people with hardships such as: Âť Making their mortgage payments. Âť Modifying home loans that were unfairly or illegally denied to them. Âť Struggling to keep houses because of bad loans. Âť Trying to buy after an unfair or illegal foreclosure. Trellis has helped a few hundred Arizona homeowners and buyers with mortgage settlement money so far but had See REAGOR, Page R3
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