Phoenix Real Estate Blog: Good News, Bad News in the Mortgage Market - 08/07/08 11:53 PM
So do you want the good news first or the bad news first?
Well, the good news is that the rate of default on subprime mortgages across the nation is starting to slow.  According to a New York Times article, “The problems with mortgages made to people with weak, or subprime, credit are showing their first, tentative signs of leveling off after two years of spiraling defaults.”
A recent Knowledge@W.P.Carey article, from ASU’s school of business, showed that the national average serious delinquency rate on subprime mortgages is 20.74%; 8.35% for Alt-A mortgages; and 1.47% for prime mortgages.
So the stem … (1 comments)

Phoenix Real Estate Blog: Explaining the Housing and Economic Recovery Act - 08/05/08 11:19 PM
On Wednesday, President Bush sat at his desk in the Oval Office and signed into law the Housing and Economic Recovery Act of 2008, a massive housing bill that includes provisions to help struggling homeowners as well as mortgage giants Fannie Mae and Freddie Mac.
The provisions of the bill that affect homeowners directly are:
A $7,500 tax credit is available to buyers who have not owned a home for three years and who have modified adjusted gross income of less than $75,000 for one person or $150,000 for a married couple.  The purpose of the temporary tax credit is to … (0 comments)

 
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Bob Stahl

Phoenix, AZ

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Keller Williams Arizona Realty

Address: Scottsdale, AZ, 85258

Office Phone: (480) 767-3000

Cell Phone: (602) 318-1114

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Knowledge is power. In that spirit, the MyPhoenixMLS Phoenix Real Estate Blog covers everything that's Phoenix-area real estate, with the goal of helping buyers and sellers navigate the market.


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