John and Cindy McCain’s Phoenix Home… One He May Remember

Since it was published in Architectural Digest in July, 2005. I found my issue in my sky-high bedroom stack of magazines recently and thought hmmm, how timely. Cindy McCain has wonderful taste and the home seems very comfortable. Now where can I find the Obama’s? Senator Biden’s? Oh yes, we must take a peak inside the home of Sarah Palin. 

Mike and Mandy (Willa Ford) Modano’s Preston Hollow Pad

While we are talking about celebrity homes, take a look at this video shot as we were putting together the story for this month’s issue of D Home, written by the talented Laura Kostelny. Love the house, love the pool, love Bella.

The Tony, Jessica and Rogers Healy Show

Rogers Healy won’t divulge whether Tony purchased this Cottonwood Valley home, but he did get some pretty cool national coverage in the September 15 issue of  Life and Style Magazine.

Mortgage Loan Servicer To Shed Employees

Now news that Homecomings Financial is closing, laying off employees…

More Takes On The Fannie Mae/Freddie Mac Move

From Zillow who says look for a cut in interest rates this week… (but will even that help sales??? It’s a credit crunch… low rates for a select few who can jump through the lenders’ higher hoops…) and Forbes., also positive but no mention of rate cuts. Full disclosure: I own Fannie Mae shares and can kiss them goodbye.  Forbes says “no accounting wrongdoing” but that the companies may have overstated their capital resources. If you or I overstate income or Real Estate values on a financial statement, that is considered illegal. These people had a fiduciary duty to shareholders. And as a shareholder about to lose money, it pains me further to learn that Freddie’s former CEO could walk with millions, as the Wall Street Journal reported –

“At Fannie, Herb Allison, who formerly served as chairman of the investment company TIAA-CREF, succeeds Daniel Mudd. Freddie’s chief executive, Richard Syron, was succeeded by David Moffett, who has been vice chairman and chief financial officer of U.S. Bancorp.

Potentially, Mr. Syron could walk away with an exit package totaling as much as $15 million, said David Schmidt, a senior consultant at James F. Reda & Associates LLC, a compensation consulting concern in New York. That includes a pension and deferred compensation, about $3.7 million in severance pay and a possible payment of $8.8 million to compensate for forfeiting recent equity grants. A Freddie spokesman said Mr. Syron had said he doesn’t “anticipate receiving nearly that much.”

What severance pay? Take that pension and pay back shareholders! Ask me, neither should get a penny.

August Home Sales Stats and Asking prices: Most of the Nation, Down, Dallas OK

The August report from Altos Research shows that asking prices declined in 20 markets, were flat in one and up in only 4 of 25 markets. Price weaknesses in August could signal further price reductions this fall. Now the Dallas story: price indexes were actually up 1.3%, while inventory was down — a good thing, product is selling. Average days on market now 92 days. See it all here.

First Time Home Buyers Want Bigger Homes

And job proximity is paramount. So says a new survey out on first time home-buyers by Coldwell Banker… I have my report from Inman, would love to see the entire thing. This may help explain why new properties always seem to move faster than old. Face it: buyers like new. In fact, I am going to bottle, market and sell “new house spray”.