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New FHA guidelines/rules on short sale financing... - 12/30/09 09:22 AM
Interesting news from from Kenneth Harney at Realty Times. Read below:
Investors and others who expect to use FHA financing in connection with a short sale better check out the latest guidance issued by HUD last week.
A letter to lenders by FHA commissioner David Stevens essentially spells out the agency's revised policies on short sales.
Here's a quick overview:
Number one: Applicants for new FHA insured mortgages will be turned down - effective immediately - if they participated in a short sale of their principal residence, simply to take advantage of declining market conditions, or to purchase a similar or … (0 comments)
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Anthem AZ real estate - Home buyer tax credit information... - 12/29/09 03:17 PM
The new homebuyer tax credit creates a unique window of opportunity for buyers to act now - purchases must be in contract by April 30, 2010! Higher income limits for first-time homebuyers and a new $6,500 tax credit for existing homeowners buying a primary residence mean that many more buyers will qualify than befor. What does it mean for buyers and sellers? We've put together some easy-to-use talking points:
Buyers
• If you are an existing homeowner (5 of the last 8 years) and are looking to buy a new principal residence, you can now qualify for a tax credit of … (0 comments)
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Resale homes sales up! New home sales down! What's a buyer/seller to do? - 12/27/09 05:46 PM
As is customary these days we received two contrarian pieces of news regarding the housing market this past week. If one follows these monthly reports close enough one would be bound to end up with a case of manic depression (great song by the way).
Yes, resale home sales were the highest they been in almost three years for the month of November. (Read more) That's great news. Most of the country has a surplus of homes on the market. We need to burn through this inventory before we can see price stabilization and eventually some price appreciation.
However, new home sales … (1 comments)
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What makes a great band iconic? It's the little things. - 12/26/09 01:44 PM
Last night I was watching a great program on the History channel called "The Beatles: On Record". It's a facinating introspective on The Beatles and their recording process, starting with their first single "Love Me Do" through their first album, "Please , Please Me" on to "Abbey Road" (their last recorded album, although "Let It Be" was released after). The show is narrated via interviews with the boys in the band (do I really need to name them?) and George Martin. With studio film footage and rare outtakes. It's really facinating to hear their take on songs and a little bit of the … (0 comments)
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Fitness tip - Don't forget to rest... - 12/23/09 06:22 PM
The new year is just about upon us. And with that will bring the resolutions. Every year the number 1 or 1A New Year resolution is to lose weight/get in shape. Which is great. I wish everyone would stick with it.
However, for those who do stick with it, here's a tip. Take a break once in a while.
Exercise is just like anything. Too much of a good thing can be bad.
The body can handle a lot to be sure. But if we don't allow it time to recover it can get worn down, and break. I see runners all … (4 comments)
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When is the best time to buy a home? Now! - 12/21/09 06:24 PM
We as humans tend to move in herds. It's in our nature. But those who move contrary to the herd often get the best deals.
In my years in real estate I've noticed a few definite trends. One of which is that during the winter/holiday months, home buying tends to take a hiatus. That's why I say NOW is the best time to buy.
Look at it logically, when everyone else is focused on the holidays home sellers get antsy. No one is coming to view their homes, many will take their homes off the market for this very reason. But … (1 comments)
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Scottsdale real estate - Market report November 2009 - 12/19/09 06:22 PM
The Scottsdale real estate market saw continued stabilization in November although prices fell a bit from October. However the units sold is up dramatically over last year this time. At about a 4 month burn rate (the number of months it would take to sell the exisiting inventory at the current sales pace) we are in what is typically observed as a balanced market in Scottsdale. If you're looking to pick up a good deal on a home or condo in Scottsdale, now's the time.
Here are November's numbers for the week ending 11/30/09:
Active Listings: 4,401 (Down 2% from Oct. '09)
Homes Pending: 1,235 (Down 3% … (1 comments)
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Scottsdale condo for rent... - 12/18/09 05:16 PM
Scottsdale - Great Scottsdale Condo in a Fantastic Location!!! … (0 comments)
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Phoenix real estate - Market report November 2009 - 12/15/09 08:25 PM
The Phoenix real estate market continues to see an upward price trend in the month of November. The average sale price for homes in Phoenix increased significantly (up 5%) over October. Couple that with September's price increase of 6% and October's increase of 4% and we have some steady price appreciation going on. And homes are selling much quicker these days as evidenced by the sharply decreasing number of days on market for those homes that did sell. The bidding wars and multiple offers on well priced homes are continuing and even the well priced non-distressed homes are selling quickly. If you're looking to purchase a home … (0 comments)
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Anthem AZ Real Estate - You get what you pay for... - 12/13/09 07:15 PM
My business partner and I work with A LOT of out of state buyers. Arizona is vacation home destination as well as a real estate investor's heaven.
But one thing we wrestle with a lot is expectations of said buyers.
For some reason buyers from other states seem to think that they are going to pick up a mansion down here in the Phoenix area for $75,000. Well folks, I'm sorry to report, it ain't gonna happen.
Now, I'm not writing this to be smug. I'm just trying to set expectations. I know you heard from a friend/family member/guy at work that … (2 comments)
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Anthem AZ Real Estate - November '09 Market Report - 12/09/09 08:08 PM
The Anthem AZ real estate market had a little hiccup in November. The inventory of homes for sale has increased a bit while the average sales price month over month dropped. However the year to year decrease in Average Sales Price continues to narrow. Which tells us the worst is behind us. The burn rate is still 2 months, and the average days on market is only 73. Based on those statistics we have a traditional seller's market in Anthem. Anthem's housing market looks to be once again on stable footing. This does not mean we will not see more foreclosures on the market in the … (0 comments)
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100,000 points! Now what? - 12/02/09 07:56 PM
This post will put me over the 100,000 point total here on Active Rain.
I've been thinking about it for the past couple of weeks. What should I write? Should I even acknowledge the milestone? Then I thought yes, acknowledge it, but in a different manner.
I say "now what?" to the 100,000 point milestone because it only means something to me. Sure, fellow Active Rain bloggers appreciate it. They know the time and effort that goes into reaching this milestone. But that's where I think we go a little wrong in the real estate industry. Too much self-aggrandizing.
To any … (7 comments)
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Anthem AZ real estate - Back on the market, buyer fell out... - 12/01/09 06:49 PM
Great 4 Bedroom Anthem Home w/Fantastic Pool!!! … (0 comments)
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Jerry Murphy, Anthem AZ Real Estate
Anthem,
AZ
More about me…
Long Real Estate
Address: 4215 W. Anthem Way, Ste. 113, Anthem, AZ, 85086
Office Phone: (623) 551-4048
Cell Phone: (602) 334-3757
Email Me
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