www.epsilonengineering.com / CopaNews.com
Study group presents Seven Ranches area plan
The American Planning Association has finished its final investigative study of the Seven Ranches Area. The organization formed its own Community Planning Assistance Team (CPAT) and put together a 59-page report that includes a proposed model for the area if the city were to consider any future development. The report also touches on the past difficulties faced by developers, but lays out both pros and cons on the current status of Seven Ranches.
The CPAT began hosting community meetings for the Seven Ranches area back in December of 2011. It also met with City Council and the Planning and Zoning Commission in a joint meeting to discuss the background of Seven Ranches
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ACC halts multiple unregistered real estate investment programs
PHOENIX, AZ -- The Arizona Corporation Commission (ACC) today sanctioned multiple individuals and their affiliated companies whose unregistered investment programs -- most of which involved real estate -- caused investors to lose over $8.57 million. The Commission ordered that amount in restitution and a total of $377,500 in administrative penalties.
First, the Commission ordered Kent M. Axtell of Phoenix and his affiliated companies to pay $1,142,747 in restitution and a $75,000 administrative penalty for committing securities fraud in connection with an unregistered real estate investment program. The Commission found that, while doing business as
www.a.perfectworld.org / CopaNews.com
Family residential trends: Sales are hot
Residential Focus report on single family residential trends: Sales are hot while inventory is cold in some price ranges. There is a negative supply of listings under $150,000 and for properties in the $150,000 to $200,000 price range there is between a one- and two-month supply. Many potential owner occupants moved from putting in offers for lender-owned properties because they could not compete against cash buyers, who are mostly investors, to putting in offers on short sales. Now with the lack of lender-owned inventory, cash buyers have moved to short sales making potential owner occupants feel more pain.
The number of single family signed leases continues to
Office Online / CopaNews.com
Former Phoenix real estate agent sentenced for mortgage fraud scheme
PHOENIX, AZ – On March 19, 2012, Chief District Judge Roslyn O. Silver sentenced Joseph Bowen Brown, 31, of Mesa, Arizona, to 51 months in federal prison for conspiracy to commit wire fraud as part of a mortgage fraud scheme based in Phoenix. Five others have entered guilty pleas in the same scheme. Four are awaiting sentencing. Co-defendant Benjamin Jackson was sentenced to 13 months in prison earlier this year for his role in originating seven loans based on false information.
The case against Brown and his co-conspirators resulted from an investigation conducted by the Internal Revenue Service’s Criminal Investigations Division.