More Good News in Real Estate! - 04/26/09 08:17 PM
As reported in the April 24th issue of Real Trends, home prices went up in both January and February by 1%.  Not much, but it was an INCREASE, not a decrease...In addition home sales (units) increased in 22 of 25 metropolitan areas.  13 of those areas posted their largest increases for February since 2006!  The source for this information was the RPX Monthly Housing Market Report from Radar Logic, Inc.
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Totally Unrelated to Real Estate...Jazz and iTunes - 04/20/09 01:01 AM
One of my hobbies and loves is jazz.  I learned much about the players and the musical relationships they have and had by reading the "liner notes" on the backs or sleeves of record albums.  Many of you may not even know what "records" are because of your age...However there were liner notes in most CDs as well.  With the proliferation of iTunes and other music download sites, the learning about musicians and who they play with and what instruments they play, and who did the arrangements, etc, has died.  I cannot tell you how much information I learned and retained … (2 comments)

Good News in Real Estate! - 04/18/09 01:43 PM
As I mentioned in my previous post, the FNMA HomePath lending program is a great tool for 1st time homebuyers, or for any buyer.  What you may not know is that this program, with some modifications, is also available to investors.  An investor can use this loan program, with 10% Down, no appraisal, no mortgage insurance, for up to 10 investment properties!!!
 
The HomePath program is only available through 12 approved lenders in the country.  One of them is Desert Heritage Mortgage, here in my area, but can make these loans in all 50 states.  If you want more information, … (2 comments)

Good News in Real Estate! - 04/15/09 01:43 AM
If you don't know about the FNMA Homepath loan program, you are not in the know about Good News in Real Estate!  This program is for buyers who want to purchase FNMA-owned homes.
Here's the scoop: 3% down, 6% Credit to Buyer, No appraisal, No mortgage insurance.  This program is only available through lenders who have been approved...so far there are only 12 in the country.  One of them is Desert Heritage Mortgage.  I can get you in touch with them if you want me to.  Just email me and I will send you their contact info.  They are able to … (2 comments)

Good News in Real Estate! - 04/13/09 01:11 AM
The sharp drop-off in the economy in recent months also implies that consumers and businesses are getting rid of their excesses with surprising speed.  The rapid pace of adjustments gives me hope that the economy can begin to stabilize in the second half of the year.  Savings (as a % of income) averaged 4.3% in January and February - the highest 2-month average in 10 Years - and up from 0.2% in the same two months a year ago!  Savings has been a joke for most Americans, and it is wonderful to see people starting to "get it."  This is also … (9 comments)

Good News in Real Estate - 04/12/09 02:22 AM
MLS inventories are flat or decreasing!  Take a look at my recent post regarding the Phoenix Area MLS statistics.  Buyers are buying.  The free market is working!  The "Months Inventory" number is dropping in many cities and many properties are getting multiple offers.  If you have a job and are a first time home buyer, or are an investor - THIS IS THE TIME!  I hope you are out spreading the good news to your sphere of influence...this is what will get people into the market again.  They want and need your expertise more than ever.
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Good News in Real Estate! - 04/10/09 02:10 PM
Dramatic positive changes in the Phoenix Metropolitan marketplace in the past WEEK!  Phoenix has been one of the hardest hit areas in foreclosures and prices.  But, look at what has happened from Thursday April 2 through Thursday April 9th:
NUMBER OF ACTIVE LISTINGS IN MLS: Dropped from 47,962 to 44,466 (decline of 3496!!!)
NUMBER OF SINGLE FAMILY HOUSES IN MLS: Dropped from 38,410 to 35,311 (decline of 3099!!!)
NUMBER OF PENDING TRANSACTIONS IN MLS: Increased from 13,568 to 15,480 (increase of 1912!!!)
This is just in 1 WEEK!  Let's hope this trend continues and reaches into those other areas like Las … (3 comments)

Good News in Real Estate - 04/10/09 02:08 AM
Good News in Real Estate:
Interest rates are still at record low levels, but many people have it in their heads that they cannot get loans.  Many people can qualify for solid loans and buy houses - they just don't know it.  It is the real estate professional's job to get the word out to combat all of the negative press that is keeping good consumers from taking advantage of the opportunites out there.
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Good News in Real Estate - 04/09/09 06:36 PM
I am really tired of hearing all of the "gloom and doom" in the news media about the real estate markets in various places.  So I am determined to publish at least one piece of GOOD NEWS in REAL ESTATE every day if I can.  So here we go:
In February - New Home sales jumped 4.7% - to the surprise of virtually every economist in the world!  The buyers are out there and are seeing the values.
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1386

Richard Rector

Phoenix, AZ

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Realty Executives International

Address: 7600 N. 16th Street, Suite 100, Phoenix, AZ, 85020

Office Phone: (602) 957-0747

Cell Phone: (602) 749-2323

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