wizards of waz real estate: Maricopa Arizona Homes for Sale - Housing Market Report 9MAY13
- 05/08/13 11:25 PM
Inventory of Maricopa Arizona subdivision homes for sale contiues to decline and now represents a 15% drop in the past 30 days. Although there has been a slight "softening" in values, prices are still near the highest levels that I have seen in the past 4 years. The Maricopa AZ housing market is just about to enter what is typically it's most volatile time of year. Most of our winter residents have left their seasonal homes and, along with them, friends and family (potential buyers) that visit them during the winter months. Those that remain will most likley be leaving in … (0 comments)
wizards of waz real estate: Housing Buble Concerns??
- 04/14/13 11:46 PM
A report posted this morning on DSNews.com addresses the concerns by some that we are in the midst of another housing "bubble" due to the rapid price/value gains over the past six months. Especially when looking at my local market of homes for sale in Maricopa Arizona, I have to agree with a number of their reasonings that there is nothing to be concerned about at this point. First of all, the percentage of the value "run up" does nor even begin to approach the declines that we experienced during the housing market crash of 2007. It would take quite a few … (0 comments)
wizards of waz real estate: HARP Refi Program Extended to 2015
- 04/11/13 02:31 AM
The Federal Housing Finance Agency directed Fannie Mae and Freddie Mac to extend the Home Affordable Refinance Program by two years to Dec. 31, 2015. The program was set to expire at the end of this year. FHFA determined that extending the program will provide borrowers additional opportunities to refinance, give clear guidance to lenders and reduce losses for the government-sponsored enterprises and taxpayers. "More than 2 million homeowners have refinanced through HARP, proving it a useful tool for reducing risk," said Ed DeMarco, acting director of the FHFA. He added, "We are extending the program so more underwater borrowers can … (0 comments)
wizards of waz real estate: Homes for Sale in Maricopa Arizona - Housing Market Update 9APR13
- 04/11/13 02:28 AM
After heading downward for a month, inventory of subdivision homes for sale in Maricopa Arizona remained stable last week. Pending sales increased to the level that we would normally expect during the seasonal buying season but have not experienced until now. As I stated previously in my last post, this would suggest that there is a "last minute" rush by seasonal buyers that may have been "on the fence" the last couple of months. It would appear that the decreased inventory, coupled with many sellers' willingness to accept less than list price, has been a motivating factor. Because I expect a … (1 comments)
wizards of waz real estate: Home prices rise the most in seven years - Maricopa Arizona included
- 04/03/13 12:27 AM
Corelogic reported that February home prices rose 10.2% from year ago levels, making it the strongest annual price rebound since 2006, the year that the housing market crasg began to occur. They went on to say that this increase was fueled bythe rapid appreciation in a number of Western markets, namel California, Phoenix and Las Vegas. Without a doubt, we have also experienced the largest appreciation in quite some time in the homes for sale market of Maricopa Arizona. Inventory of homes for sale reached a low of 134 homes, which is the lowest total of active listings that we have … (0 comments)
wizards of waz real estate: Maricopa Arizona Homes for Sale - Housing Market Report 22MAR13
- 03/26/13 11:37 PM
Sorry to be a little late on this report but I noticed on Sunday that it the Maricopa Arizona homes for sale market experienced it's second straight week of an inventory drop and I wanted to see if this was sustained before I commented. Sure enough, I checked the inventory again this morning and it continues to decline and is now at a level that we have not experienced since mid-OCT of last year. Since both Patti and I have been experiencing an increase in buyer inquiries over the past couple of weeks, it would appear that there is a late … (0 comments)
wizards of waz real estate: Maricopa Arizona Homes for Sale - Weekly Housing Market Report 13MAR13
- 03/15/13 12:02 AM
Maricopa Arizona Homes for Sale - Weekly Housing Market Report 13MAR13 A slight upsurge in buying activity caused the inventory to drop slightly last week. Buying activity has been very sporadic during the first quarter of 2013 and is well behind the pace of the past few years. Patti and I have been experiencing an increase in inquiries over the past couple of weeks so it could be a sign that seasonal buyers are wanting to purchase over the last few weeks of the "winter" season. I don't expect any major shifts in the trending but we will just have to … (0 comments)
wizards of waz real estate: HARP refinancings beat 2012 estimates
- 03/12/13 11:36 PM
Maricopa Homes for Sale - Refinance options Almost 1.1 million mortgages were refinanced in 2012 through the Home Affordable Refinance Program (HARP) beating government estimates. This program is for homeowners that have FNMA or FMAC (Fannie Mae and Freddie Mac) backed loans and is available even for those folks that have homes whose values are well below market value. I have seen fellow Maricopa Arizona resdients save up to $600/month on their mortgage payments!! It is refreshing to see that the government has FINALLY rolled out a program that appears to be assisting homeowners that want to keep their homes. Read … (0 comments)
wizards of waz real estate: Maricopa Arizona Homes for Sale - Housing Market Report 5MAR13
- 03/07/13 09:38 PM
Not a lot of changes going on this past week. Inventory remains relatively stable as pending sales are keeping pace with the new inventory coming onto the market. Since there is only about another month and a half of seasonal buying activity remaining, there is little doubt that the buying "frenzy" that has occured over the past 4 years at this time of year will not materialize. Values and inventory both remain too high to entice buyers. Another interesting note is that there was a 4 day period last week when not a single Maricopa home was offered at the daily … (0 comments)
wizards of waz real estate: Distressed Properties Make Up 43% of Sales in 2012
- 02/28/13 11:29 PM
The following article from RealtyTrac reported that 43% of homes sales in 2012 were from dirstressed sales, 22% from foreclosures and 21% from non-foreclosure short sales. This was a 6% decline over 2011. Although this is a signifigant number, it doesn't really tell the whole story, especially in the homes for sale market of Maricopa Arizona Maricopa AZ Housing Market Data. The sales of these distressed properties in Maricopa AZ is probably a bit less than this however the secondary market must also be taken into consideration. A signifigant amount of homes in my community were purchased through Trustee Sales and … (2 comments)
wizards of waz real estate: Debt Relief Act Extended
- 01/02/13 11:25 PM
After many months of holding their breath, distressed homeowners can now breath a sigh of relief. The Debt Relief Act of 2007 has been extended through 2013. There are rumors that it will be extended further in the final deal but for now, at least, the news is good. The Debt Relief Act offers protection against for homeowners who short sale or lose their home to foreclosure. Prior to the bill, homeowners were potentially reponsible for paying taxes on the deficiency (the difference between what they owe on their mortgage and what their home actually sells for). Although many homeowners were … (0 comments)
wizards of waz real estate: Homes for Sale in Maricopa Arizona - Market Report 13SEP12
- 09/12/12 11:58 PM
Every week or so I take a look at the key indicators for the market for subdivision homes in Maricopa Arizona. No fancy images or layout, just the facts. I have been tracking these indicators for over two years and include a spreadsheet of that period at the end of my post. The housing market in Maricopa Arizona has been very unpredictable since the housing crash of 2006 - 2007 and continues to be in a state of flux. This unpredictability has been fueled by the large number of distressed mortgages coupled with the annual return of our seasonal residents and visitors who … (2 comments)
wizards of waz real estate: Maricopa Arizona Subdivision Homes for Sale - Market Update 29AUG12
- 08/28/12 11:55 PM
Get ready for a wild ride as the market for homes for sale in Maricopa Arizona is changing rapidly. The inventory of subdivision homes jumped 12% in one week and is now approaching the 300 home level. I predicted an increase a few months back and admit that I took a conservative approach (as always) when I felt that the inventory would rise to 250 homes by the end of August. All bets are off now and I will dive into my indicators and explain as best I can just what is happening. Unless the trend changes (and I see no … (0 comments)
wizards of waz real estate: State Attotney General Litigation May be Nearing Settlement
- 02/07/12 01:44 AM
This ongoing saga may FINALLY be coming to an end as the deadline for a settlement was extended until next Monday. 40 states have already signed on for a settlement that reportedly will have the lenders paying around $25 billion. Most of this money will go towards principal reductions. It remians to be seen what impact this will have on distressed homeowners and the "shadow" inventory. Although the proposed $17 billion in principal reductions sounds like a lot of money, there are a LOT of distressed homeowners to spread it around to. Also, it remains to be seen just how this program will be … (1 comments)
wizards of waz real estate: Monday Cup of Coffee - Weekend News
- 01/23/12 03:03 AM
The Monday Morning Cup of Coffee is brought to you every week by Housing Wire. This week's issue details an MI company's financial probelms , the latest on stste Attorney Generals litigation with the major lenders and much more. Enjoy! http://bit.ly/AcVus4
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wizards of waz real estate: Maricopa Arizona Homes for Sale - Updated Market Report 14JAN
- 01/13/12 11:21 PM
Over the past six months, the inventory of single family homes in the subdivisions of Maricopa Arizona has more then doubled, from 440 to over 970. Most of this increase is due to an influx of distressed homes, both short sales and foreclosures. This has occured in spite of the buying activity the buying acticity has remaining relatively steady. The foreclosure moratorium has slowed down the increase over the past two weeks but it is expected to resume as soon as the investigations are finished, most likely after the first of the year. For buyers of homes in Maricopa, this represents … (0 comments)
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Inventory of Maricopa Arizona subdivision homes for sale contiues to decline and now represents a 15% drop in the past 30 days. Although there has been a slight "softening" in values, prices are still near the highest levels that I have seen in the past 4 years. The Maricopa AZ housing market is just about to enter what is typically it's most volatile time of year. Most of our winter residents have left their seasonal homes and, along with them, friends and family (potential buyers) that visit them during the winter months. Those that remain will most likley be leaving in … (0 comments)
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