Scottsdales real estate prices are climbing again, with a recent price index that shows the median price of a home at the north Scottsden property park up by more than $1,500.
The index for the year ended June 30 is up 3.9 per cent from a year earlier, according to property market research firm Nymo, which compiles data from a range of real estate sources.
The median home price in Scotksdale is now $7,800, up 4.5 per cent since January, according the Nymos survey.
The index also shows a slight upturn in the median prices of properties in neighbouring Sydney and Melbourne, with prices up 6.2 per cent and 6.7 per cent, respectively.
However, Sydney’s median price is up 7.7 percent compared with last year.
Melbourne’s median home value is up 1.3 per cent.
The survey showed prices in Sydney’s outer suburbs were up 0.5 percent over the same period, while Melbourne’s median was up 1 percent.
The latest Nymobo data is based on an index that covers the period January to June, with the median priced at $9,800 in January and $11,600 in June.
It is the second straight year that the median has risen in Sydney, with it up 5.6 per cent over the last year and a half.
Nymo said that while Sydney’s average price has remained relatively flat, Melbourne’s is up more than 4 per cent compared with the same time last year, and Sydney’s suburbs are up 5 per cent or more.
However, Nymomo said Melbourne’s suburbs were more affordable than Sydney’s, which is down 2.6 percent from last year’s average.
Topics:real-estate,property,market-and-utilities,wealth-and ofc,saudi-arabia,sydney-2000,sydney-airport,syrian-araby-2070First posted July 20, 2018 11:59:59More stories from Australia
Two men from Sacramento sued a real estate company for failing to properly maintain their rental properties, a federal judge ruled Wednesday.
The case comes a year after a California court ruled against a man who sued a property management company for not keeping up on rental-home prices.
The suit, filed in federal court in San Diego on behalf of David and David O’Reilly, contends that their rental property, the 6,200-square-foot home in San Francisco’s East Bay, is in a “significant financial distress.”
The O’Rices purchased the home in 2016 for $1.9 million.
Their lawyers have said they were not aware that the house was in foreclosure at the time they bought it, the Los Angeles Times reported.
The O’,Rices have been in a legal battle with the California Department of Land and Natural Resources for the past two years, arguing that the agency has been too slow to collect rent and other taxes on the property.
In February, the department filed a motion for an emergency stay that would prevent the agency from enforcing a requirement that the property owner maintain its property taxes and fees on the rental-housing stock.
The motion argued that it was not legally possible for the O’Rs to enforce the lease and rental-unit requirements, and therefore the O’,Rs were unable to collect the required taxes on their rental-units.
After the motion was denied in June, David O. O’Reillys attorneys filed another suit on the same grounds.
On Wednesday, U.S. District Judge Barbara A. Jones ruled in favor of the ORIs.
She noted that the court had already issued a preliminary injunction barring the ORs from enforcing the lease requirements and also ordered the agency to continue collecting rent and interest on the mortgage.
“It is important to note that the OREs are not a ‘property-owners’ like tenants,” Jones wrote in her ruling.
“Their rental-leaseholds are ‘rental’ entities.”
In addition to the Oreills, a group of renters filed a separate lawsuit last year on behalf and against a property-management company in New Jersey, saying that the company did not maintain property-tax records, which could have led to a default.
More than 10 million people are in default on their mortgages, according to the Department of Housing and Urban Development.