WASHINGTON – Just under half of all Arizona mortgages were “underwater” in spring of this year, the second-highest percentage in the nation, according to a report from a private research firm.

CoreLogic said only Nevada, at 63 percent, had a higher rate of homes underwater at the end of the first fiscal quarter of 2011, the most recent period for which it had a report.

An underwater mortgage is a home with negative equity – when a person owes more on his mortgage than his home is worth.

Arizona homeowners who were underwater averaged $60,000 in negative equity, according to the report, below the national average of $65,000. Get full post…

Photo courtesy of Canyon-Johnson Urban Funds

Earvin “Magic” Johnson

A California-based investment group has purchased The Dylan, a 125-unit apartment property on Cedar Springs Drive in the Oak Lawn area of Dallas.

The financial details of the transaction were not immediately available Tuesday afternoon.

Canyon-Johnson Urban Funds is a joint venture between Canyon Capital Realty Advisors Canyon Capital Realty Advisors Latest from The Business Journals Magic Johnson Enterprises picks up Texas apartment propertySouth Florida’s green community aims for platinum certificationAndre Agassi opens charter school real estate fund Follow this company and an affiliate of Magic Johnson Enterprises. T

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Birmingham has had 3,544 foreclosures in the first half of 2011, according to a new report from RealtyTrac.

The metro’s foreclosure rate of 0.7 percent of housing units ranks No. 104 in the nation.

Foreclosures are down 11.3 percent compared to the second half of 2010 and down 27 percent compared to the first half of last year.

Birmingham has had 3,544 foreclosures in the first half of 2011, according to a new report from RealtyTrac.

The metro’s foreclosure rate of 0.7 percent of housing units ranks No.

Get full post…

Photo courtesy of Canyon-Johnson Urban Funds

Earvin “Magic” Johnson

A investment group owned by Magic Johnson Enterprises has purchased The Dylan, a 125-unit apartment property on Cedar Springs Drive in the Oak Lawn area of Dallas, Texas.

The financial details of the transaction were not immediately available Tuesday afternoon.

Canyon-Johnson Urban Funds is a joint venture between Canyon Capital Realty Advisors Canyon Capital Realty Advisors Latest from The Business Journals California investor picks up 125-unit Oaklawn apartment propertySouth Florida’s green community aims for platinum certificationAndre Agassi opens charter school real estate fund Follow this company and an affiliate of Magic Johnson Enterprises. T

Get full post…

Netflix has angered customers with its decision to raise prices by as much as 60 percent.

Smart companies know that every action has a reaction. That’s why they tread carefully when considering raising prices.

A couple of recent price-increase announcements caused a lot of angst around the country.

First Chipotle Mexican Grill Inc. Chipotle Mexican Grill Inc. Latest from The Business Journals Empty Moffett Park building fills up with two tenantsSoul Daddy failure costs Chipotle .4MInvolvement in TV show costly to Chipotle Follow this company said it was planning a “moderate” price increase, then Netflix Inc. Get full post…