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market condtions: Local Market Statistics- Chandler, Gilbert, Mesa Arizona - 08/23/11 08:39 PM
Good News: Total active listings have dropped to by another 1207 units over the beginning of last month. As of August 7th we sit at 27,736 listings for both single family and condos. Sales as of August 7th were 9041, down by 943 units from June.We currently sit at 3.06 months of supply! If you take out the AWC contracts which The Cromford Report puts into active listings, we are at a 2.2 months of supply! The total absorption rate was 33%. Traditionally a balanced market has been considered 3-4 months of supply. We are in a seller's market! Short sales … (1 comments)
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market condtions: Foreclosure-Prevention Scammers: How To Not Become A Victim - 09/21/09 03:56 PM
The most common foreclosure-prevention scams works like this: The despaired home owner gets a letter that says something like, "We know you're having a hard time. We have a pipeline to your lender and can help you save your home. Call this toll-free number now."The poor home owners call the number and agree to pay an outrageous amount of up to $1,500 upfront for help with their mortgage. Then, nothing happens. Finally, the home goes into foreclosure and the home owner has no one to fall back on.Harold Kirtz, a lawyer for the Federal Trade Commission who is prosecuting these scammers, says … (2 comments)
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market condtions: 7 Valuable Tips For First-Time Home Buyers - 09/21/09 02:58 PM
The housing market has taken a drastic turn since the foreclosure crisis in 2008. Here are seven pieces of wisdom from economists and financial planners for anyone considering a home purchase today:
The smartest way to purchase a home is to put 20 percent down on a fixed-rate, 30-year (or less) mortgage. Do not depend on income growth. Even though buyers in their 20s and 30s will likely see their incomes increase more quickly than previous generations, it is important to always act sensibly when borrowing. Any family that is considering adding children to their family should calculate whether they could live on one … (0 comments)
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market condtions: Stonebridge Lakes Manor Home In Gilbert For Sale - 07/20/09 02:11 PM
This Adorable Home Is Highly Upgraded. Home Features Travertine Floors, Wood Floors In Den, Decor Paint. Kitchen Features Updated Appliances and Tile Counters. This Home Is A Great Starter Home And A Must See! Don't Let This Home Pass You By!
Call Gina McKinley, ABR, CRS, CDPE, Associate Broker at 480-355-8645 in order to schedule an appointment to view this home.
For more pictures and a property brochure, please visit our web page at http://www.LocateArizonaHomes.com/306Vaughn.
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market condtions: New Refinance Guidelines - 07/07/09 02:56 PM
The federal government's new eligibility requirements for its home-loan refinancing program should allow more Arizonans to reduce their monthly mortgage payments.
However, the program still doesn't solve the biggest problem for so many borrowers: owing much more than their homes are worth.
This week, the U.S. Department of Housing and Urban Development extended the Home Affordable Refinance Program to borrowers who are up to twenty-five percent upside-down on mortgages guaranteed by Fannie Mae and Freddie Mac.
The previous origin was 105 percent, or owing 5 percent more than the value of the home.
"As long as (the refinance loan) is at … (0 comments)
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market condtions: Foreclosures Ahead - 07/07/09 01:53 PM
Economic observers are forecasting another surge of foreclosures later this summer or in the fall. Those lenders that held off on foreclosures as part of President Obama's plan will now proceed vigorously to clear the backlog of troubled mortgages, causing the large amount of foreclosures.
Home values will depreciate with the foreclosures rising, says Mark Zandi of Moody's Economy.com, who calculates that 15.4 million homeowners, one in five of those with first mortgages, will be underwater.Seth Wheeler, a senior adviser to Treasury Secretary Timothy Geithner, has said that the government is "unlikely to implement another moratorium."However, Wheeler also said the government … (0 comments)
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market condtions: When Should Homeowners Walk Away? - 06/24/09 01:13 PM
In a complicated market like todays, it is hard to know whether you should keep your home or walk away from it. Many homeowners have watched their property values drop over 25 percent, sometimes more. Some say the market hasn't even hit the bottom yet.
Some homeowners are beginning to wonder if staying in their home is even worth it anymore. Some wonder, "If I owe more on the mortgage than the house is worth, why throw good money after bad?" When homeowners are thinking of walking away, they need to remind themselves of why they purchased the home, when they … (1 comments)
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market condtions: Senita Home In Maricopa, AZ For Sale - 06/23/09 01:12 PM
Wonderful Starter Home In The Ever Growing Town Of Maricopa! This Split Floor Plan Home Features 4 Large Bedrooms, 2.5 Bathrooms and Vaulted Ceilings. Eat-In Kitchen Features Beautiful Natural Maple Cabinets, Large Island, Pantry, Refrigerator, Microwave, Dishwasher and Oven. Master Bathroom Features Separate Shower & Tub, Double Sinks, and Walkin Closet. Excellent Back Yard Features Covered Patio. Sellers Loss Is Your Gain!
Call Gina McKinley, ABR, CRS, CDPE, Associate Broker at 480-355-8645 in order to schedule an appointment to view this home.
For more pictures and a property brochure, please visit our web page at http://www.LocateArizonaHomes.com/43601BlazenTrail.
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market condtions: Foreclosure Crisis Now Spreading To Prime Mortgages - 06/09/09 06:15 PM
The prime borrowers are rapidly going into foreclosure, especially in those states of mass unemployment or decreasing property values, all which saw a huge run-up during the housing boom.
It's a marked shift from earlier this year, when foreclosures were driven by defaults on subprime loans. It has major implications - ravaging the credit scores of those borrowers who once had impeccable records and dragging down property values in the more wealthy neighborhoods.
It also threatens to weaken the housing recovery.
"It's definitely a concern," says Brian Bethune at IHS Global Insight. "(Unemployment) is a major driver of foreclosures, and it will frustrate … (1 comments)
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market condtions: Housing Rebound Is On The Rise - 06/09/09 05:58 PM
Sales are the uproar for the economic housing situation this week.
Residential sales and pending sales are adequately increasing and a rebounding real estate market could soon start stimulating the economy.
Even Federal Reserve Chairman Ben Bernanke told Congress last week that essentially the worst is over, the housing market is stabilizing, and we're heading out of recession in the second half of the year.
Pending home sales heightened by 6.7 percent in April. April made the third consecutive month of significant increases. April was the highest pending sale total for any month in the last seven years.
In the Northeast region, pending sales rocketed upwards during April by an astounding … (0 comments)
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market condtions: Median Home Prices Up In May - 06/08/09 03:08 PM
Phoenix-area median priced homes sold increased slightly in May from the previous month despite an increase also in home foreclosures, according to the latest data from the Information Market and Cromford Report, local analysis firms.
In May, the number of homes sold increased to over 8,600. In April, the homes sold were just under 8,160. The median sales price for both new and resale homes was $130,000, which is an increase of about 3 percent. This information is based on data from the Maricopa County Recorder's Office.
In May, the median new-home sale prices rose to $216,000 from $205,000 in April. … (0 comments)
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market condtions: Perfect Time To Steal A Deal On Vacation Property - 05/05/09 02:31 PM
Although the market is at a record lows, right now is a fantastic time to purchase a second home in a vacation paradise at a great price, if you can afford it.
Since there are a significantly small amount of people that have the ability to spend money on this kind of luxury, sales as well as prices are down in many prime locations. Buyers with the desire and the funds can pick up a steal of a deal.BusinessWeek and Zillow.com took a look at the second-home markets where prices have decreased between the fourth quarter of 2007 and fourth quarter of 2008.Here is … (0 comments)
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market condtions: U.S. Has Offered Incentives To Modify Second Mortgages - 05/05/09 02:20 PM
The Obama administration announced on Tuesday, April 28 that they are offering incentives for mortgage servicers to modify second mortgages, including home equity loans.
The way the incentive works is like this: When the first mortgage has been modified, the second mortgage servicers must agree to modify their mortgage. The term of the second mortgage must be extended and the rate used will match the first mortgage rate. The government will then share the cost with the servicer of cutting the rate to 1 percent for amortizing loans and 2 percent for interest-only loans. Under the program, the government will pay mortgage servicers … (0 comments)
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market condtions: Rancho Bella Vista Home in Queen Creek, AZ For Sale - 04/27/09 03:23 PM
You Must See This Fantastic Resort Style Yard! Back Yard Features Putting Green! This Home Features 3 Bedrooms Plus A Den! Beautiful Decor Paint! Neutral Colored Tile & Carpet Throughout! Wrought Iron Bars On Stairs! Kitchen Features Granite Countertops & Large Island Perfect For Entertaining! Vaulted Ceilings & North/South Exposure Make This Home Even Better! Office Features Double Door Entry! Gorgeous Home Offers Much More!
Call Gina McKinley, ABR, CDPE, CRS at (480) 355-8645 In Order To Schedule An Appointment To View This Home.
For More Pictures & A Property Brochure, Please Visit My Web Page At http://www.LocateArizonaHomes.com/3221CowboyCoveTrail.
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market condtions: Abralee Meadows Home in Chandler, AZ For Sale - 04/21/09 06:08 PM
This Great Home Features A Large Basement! Spacious Kitchen Features Beautiful Granite Couters, Maple Cabinets, Gas Range/Oven, Dishwasher & An Island. Formal Dining Area. Back Yard Features A Fabulous Fenced Shasta Pebble-Tec Play Pool With In-Floor Cleaning! Carpet & Tile Throughout. 9+ Flat Ceilings. Energy Features Include Ceiling Fans & Multi-Pane Windows. Do Not Let This Home Pass You By!
Call Gina McKinley, ABR, CDPE, CRS at (480) 355-8645 In Order To Schedule An Appointment To View This Home!
For More Pictures And A Property Brochure, Please Visit My Website At http://www.LocateArizonaHomes.com/2821Wisteria.
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market condtions: The $8,000 Tax Credit - 04/10/09 06:27 PM
I'm sure you have heard about the $8,000 tax credit for those first time homebuyers. Are you eligible? How do you claim it? Here are a few tips to see if this tax credit is for you.
According to the National Association of Home Builders, you must have purchased a home from January 1 to December 1 of 2009. In order to be considered a first time homebuyer, you only need to have not owned a home in the last three years. The buyer must also "have a modified adjusted gross income (MAGI) less than $95,000 for single tax payers or $170,000 for married filers."
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market condtions: Fed Plans Spark Drop In 30 Year Rates - 04/03/09 06:40 PM
Freddie Mac has reported that the average interest on a 30-year mortgage fell from 4.98 percent to 4.85 percent in less than a week. This drop in interest rates resulted in a 38-year low. This decrease has made housing incredibly affordable. The average price of a home is $172,000, making the mortgage payment only $878.38 for a principal and interest loan.
This diminishing rate came shortly after the Feredal Reserve announced their plan to make another purchase of $750 billion in mortgage-backed securities. They plan to purchase $300 million in Treasuries as well. President Obama claims that refinancing is now possible for 40 percent of mortgages and encourages home … (0 comments)
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market condtions: Survey Says "Now Is A Good Time To Buy" - 03/30/09 05:15 PM
Despite the current concern of the economy, 78% of potential first-time home buyers say that now is a great time to buy a home.In early March, Century 21 hosted a survey for potential first-time home buyers. Of the 1,000 prospective U.S. first-time home buyers surveyed, 68% think now is a better time to buy rather than 6 months ago.Record breaking low prices are the driving motivation for first-time home buyers with more than 80% first-time home buyers (85 percent) saying they consider current home prices affordable and 73% citing that taking advantage of current prices is an extensive factor in their decision to purchase. Interestingly enough, potential … (1 comments)
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market condtions: Parkwood Ranch Home In Mesa, AZ For Sale - 03/27/09 06:20 PM
Fabulous Views & Move-In Perfect! Gourmet Kitchen Features Island & Desk. Tile In Kitchen & Baths. Other Features Include Wood Blinds, Decor paint, Water Softener, Double Door Entry To Master, Separate Master Exit To Balcony With A Fabulous View Of Red Mountain. Lovely Oversized Yard With A Fenced Play Pool & Childrens Play Area Backing To Greenbelt. Professional Epoxied Garage Floor. 4th Bedroom Currently Used As Den/TV Room. Stainless Appliances Do Not Convey-To Be Replaced To Match Stove.
Call Gina McKinley, ABR, CRS, CDPE at 480-355-8645 In Order To Schedule An Appointment To View This Home.
For More Pictures And … (0 comments)
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market condtions: Islands Home In Gilbert, AZ For Sale - 03/25/09 12:51 PM
Beautifully Upgraded & Updated in 2006! This Full Basement Home Was Completely Remodeled & Is Gorgeous. Features Include Granite In Kitchen & Baths, Hickory Cabinets, Tile Floors, Wood Blinds, Neutral Carpet, Real Wood Burning Fireplace In Family Room Plus Pool & Spa. Islands Community Features Lake & Clubhouse Amenities.
Call Gina McKinley, ABR, CRS, CDPE at 480-355-8645 In Order To Schedule An Appointment To View This Home.
For More Pictures And A Property Brochure, Please Visit My Web Page at http://www.LocateArizonaHomes.com/814SanMateo.
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Gina McKinley, ABR, CIAS, CDPE, CRS, SFR ~ Chandler, Gilbert, Mesa, & Scottsdale
Chandler,
AZ
More about me…
RE/MAX Masters
Address: 2390 W. Ray Rd, Suite 3, Chandler, AZ, 85224
Office Phone: (480) 821-5700
Cell Phone: (480) 600-1129
Email Me
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