When to Pay Down Your Phoenix Mortgage - 03/31/10 09:56 AM
It used to be that if you had extra money left over at the end of the month after all the bills were paid, it was a good idea to send that extra to the mortgage company. When interest rates were at 8 or 9% paying off a mortgage early made sense. But today, with interest rates at 5%, that old conventional wisdom no longer holds true.
And, because mortgage interest is tax deductible, paying off your Phoenix mortgage early doesn’t yield you as much investment value per dollar paid as your interest rate. If your interest rate is 6%, then … (0 comments)

Phoenix Real Estate Market Up for 7th Straight Month - 03/29/10 06:40 PM
News headlines recently have wondered whether housing market really have firm footholds in recovery. Only time will tell for sure, but markets across the country, including the Phoenix real estate market, continue to show signs of increasing strength. According to the widely used S&P/Case-Shiller Home Price Index, housing prices – in Phoenix and around the country – continue to improve.
Some highlights from the report:
Month-over-month housing prices rose in the Phoenix real estate market for the 7th straight month. Comparing to a year earlier, Phoenix home prices are still down, but those declines continue to shrink as housing prices rise … (0 comments)

Will Obama’s Latest Housing Plan Save the Phoenix Real Estate Market? - 03/29/10 06:36 PM
Last week Bank of America announced a “pilot” program to reduce the principal balance on qualified mortgage holders (at the most only about 4% of all B of A homeowners in default). Two days later, the Obama Administration announced yet another change to the Home Affordable Modification Program.
Now, HAMP will encourage lenders to reduce principal balance of qualified homeowners. The incentive? A payment of 10 to 21 cents per dollar reduced. If it works, it would certainly be a boon for Phoenix homeowners -- 50% of whom are underwater (owing more than their Phoenix homes are worth).
And, HAMP wants … (0 comments)

Does Moving Up to a New Scottsdale Home Make Sense? - 03/15/10 08:07 PM
Thinking about moving up in Scottsdale? Think about these questions:
1. Do you have enough equity to finance a down payment on a new home? Most conventional lenders look for at least 10% down. FHA will guarantee loans with 5% down.
2. Can you afford a bigger mortgage? Can you afford the expense of moving? Check out this mortgage calculator.
3. Does your current Scottsdale or Phoenix neighborhood still meet your needs?
4. Might it make more sense to renovate your current home than to sell it and buy a new one? Remember that you probably won’t get back 100% of … (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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