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Pending Home Sales Rebound; Suggest Brighter Spring For Housing - 03/29/11 12:21 PM
On a seasonally-adjusted basis, the Pending Home Sales Index rose 2 percent last month, according to the National Association of REALTORS®. A “pending home sale” is defined as a home under contract to sell, but not yet closed. February’s Pending Home Sales Index rebound breaks a 2-month losing streak, and reverses the recent downward momentum in housing. Both Existing Home Sales and New Home Sales volume showed a sizable loss last month. For buyers and sellers of real estate in Scottsdale , the Pending Home Sales Index is of particular import. It’s one of the few forward-looking indicators in housing, and February’s data suggests a (0 comments)
Rental Houses Heading Up In Price - 03/26/11 03:30 AM
As home owner after home owner loses their home to foreclosure or Short Sale, it is hard to see positives in today's Real Estate Market here in Scottsdale, but, not everyone is losing money. Many landlords are finding the rental market stronger than ever and a great place to make money. It's a classic example of supply and demand. As more and more families lose their homes to short sale and foreclosure, they have to still live somewhere. With the high demand, and low inventory of rental properties out there, landlords are raising rent and making a substantial profit. In the Greater (0 comments)
Good News For Sellers — Housing Starts Plummet In February - 03/21/11 05:05 PM
Single-family housing starts plunged unexpectedly last month. Nationwide, starts fell 12 percent from the month prior; and 29 percent from February of last year. February’s figures represents the worst 1-month drop in housing starts since May 2010 — the month that followed the expiration of last year’s federal home buyer tax credit — and puts single-family housing starts at a 24-month low. In addition, single-family Building Permits plunged last month, too, shedding 9 percent from January. A building permit is a local government’s certification and approval to begin home construction. Housing permits are an excellent forward-indicator for the housing market. This (0 comments)
This weekend marks the 41st annual Scottsdale Arts Festival. From Today, March 11th through Sunday, March 13, Scottsdale will again play host to one of the most popular and well respected art festivals in the country. There are a ton of activities for the whole family to enjoy including seeing the featured artists, fine local dining, and some of the best local entertainers. Not to mention the weather couldn't be any more perfect! The Phoenix Street Food Coalition will offer local food for the first time at the Scottsdale Arts Festival. These mobile eateries have earned great recognition for (0 comments)
Loan Fees Set To Rise For Conforming Mortgage Applicants - 03/10/11 01:43 PM
Beginning April 1, 2011, Fannie Mae is increasing its loan-level pricing adjustments. Conforming mortgage applicants in Arizona should plan for higher loan costs in the months ahead. If you’ve never heard of loan-level pricing adjustments, you’re not alone; they’re an obscure mortgage pricing metric and, thus, are rarely covered by the media. That doesn’t make them any less relevant, however. LLPAs are mandatory closing costs assessed by Fannie Mae and Freddie Mac, designed to offset a given loan’s risk of default. LLPAs were first introduced in April 2009. This April’s amendment is the 6th increase in 2 years. LLPAs can be costly. In (1 comments)
Scottsdale Quarter Coming Alive - 03/08/11 03:48 PM
Scottsdale Quarter is a $270 million mixed-use project on 28 acres at the southeast corner of Scottsdale Road and Greenway-Hayden Loop, east of Kierland Commons. When complete, the development's three phases will total about 1.2 million square feet of retail, restaurant, entertainment and office space, and possibly residential and hospitality. Initial opening was in 2009, and Phases 1 and 2 are expected to be leased by the end of 2011. The final phase is expected to include a residential component and a hotel, but a projected opening date is unknown. Seventy percent of retail space is either open, under construction or (0 comments)
FHA : Monthly Mortgage Insurance Premiums To Rise April 18, 2011 - 03/04/11 12:39 PM
For the third time in 12 months, the FHA is changing its mortgage insurance costs. Effective for all FHA case numbers assigned on, or after, April 18, 2011, annual mortgage insurance premiums (MIP) will increase 25 basis points. The change will add $250 to an FHA-insured homeowner’s annual loan costs per $100,000 borrowed, and applies to all borrower’s equally. Current FHA borrowers are unaffected. To understand the FHA is to understand why premiums are rising. As an institution, the Federal Housing Administration plays a much larger role in the U.S. housing market today than it did just 5 years ago. According (1 comments)
Ignore The Case-Shiller Index; Focus On The Future Instead - 03/02/11 01:49 PM
Last week, Standard & Poor’s released its Case-Shiller Index for December 2010. The index is a home valuation tracker, meant to meausure the change in home prices from one period to the next. December’s Case-Shiller Index showed major devaluations nationwide. As compared to December 2009, on a year-over-year basis, home values fell in 18 of the Case Shiller Index’s 20 tracked markets, and the U.S. National Index dropped 4 percent overall. The retreat puts December’s home values at similar levels as compared to early-2003. That said, buyers and sellers would be wise to take the findings lightly. The Case-Shiller Index is inherently (1 comments)
Pending Home Sales Drop For Second Straight Month - 03/01/11 12:10 PM
After a strong run to close out 2010, the market for home resales softened a bit in January. On a seasonally-adjusted basis, the Pending Home Sales Index dropped 3 percent last month, and December’s figures were revised downward for a loss, too, according to the National Association of REALTORS®. A “pending home sale” is defined as a home under contract to sell, but not yet closed. The forward-looking index is now at a 3-month low on a national level, but still well ahead of its rolling 6-month average. Unfortunately, national data isn’t overly helpful for buyers and sellers of real estate. The National (0 comments)
Serving the Greater Scottsdale and Phoenix Area for all of your real estate Needs.Check out my blog to find the latest information and resources on the real estate market and how to make your real estate transaction go as smoothly as possible.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.