Real estate briefs: Shea event offers energy efficiency tips - East Valley Tribune: Business

Real estate briefs: Shea event offers energy efficiency tips

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Posted: Friday, August 15, 2008 7:52 pm | Updated: 9:03 pm, Fri Oct 7, 2011.

Shea Trilogy, Shea Homes' high-end resort communities, will host a free "Energy Efficiency Explained" event to shed light on solar power and energy-efficient living today in Queen Creek.

The event will be from 10 a.m. to 1 p.m. at Encanterra, a Trilogy country club at 1035 E. Combs Road. Attendees can learn about smart energy use through presentations by the Arizona Department of Commerce Energy Office, American Solar Electric, Arizona Public Service and Salt River Project.

Attendees can also tour Shea Trilogy's Superiology House, an interactive resource center where consumers can look behind the walls and into the attics of an energy-efficient house.

More information is available by calling (800) 685-6494 or visiting www.trilogylife.com.

APARTMENTS SOLD

An extensively refurbished apartment complex in Mesa sold recently for $5.1 million, according to Marcus & Millichap Real Estate Investment Services.

Sonoma Village, a 96-unit complex at 1318 S. Vineyard, was built in 1973. More than 95 percent of the units have new cabinets, appliances, carpet, hardwood vinyl, plumbing fixtures, light fixtures, bathtubs and countertops. The buyer was Surinder Singh.

TAX CREDIT FOR BUYERS

A newly launched Web site, www.federalhousingtaxcredit.com, has attracted more than 100,000 visitors wanting to take advantage of a temporary $7,500 tax credit for the purchase of a first home, according to the National Association of Home Builders.

The tax credit is among several provisions included in federal housing legislation enacted into law last month aimed at helping to get housing and the economy back on their feet.

The Web site contains information on how the tax credit works, including eligibility requirements.

OWNERS 'UNDERWATER'

Home values in the Valley fell 19.3 percent year-over-year in the second quarter to a median value of $205,520, according to Zillow Q2 Real Estate Market Reports.

Nationally, home values dropped 9.9 percent from the year-ago quarter and 1.7 percent from the first quarter to a median value of $206,919.

In the Valley, 40.1 percent of homeowners who bought since 2003 are underwater on their mortgages, meaning they owe more than their homes are worth. The highest rates of negative equity are felt by those who bought in 2006 - 75.5 percent.

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