real estate news: Fountain Hills real estate July 5 - Aug 5, 2010
- 08/10/10 07:07 AM
Even thought the temperature remain hot, the Fountain Hills Real Estate market has 'cooled' from July 5th to August 5th 2010.Residential closed sales have dropped from 520 to 473 (16%) and the properties currently in escrow (pending sale) were reduced from 413 to 348 (12%).The overall number of active listings has also been reduced from 2,914 to 2,896. The slower summer month activity should increase with the approaching fall and winter months just around the corner. There are some excellent opportunities for those Snowbirds that descend on the Valley of the Sun. Search for Fountain Hills Real Estate … (1 comments)
real estate news: Are there Short Sales in Fountain Hills, AZ?
- 07/02/10 06:22 AM
The Short Sale opportunity is here to stay for the foreseeable future. As qualified sellers and banks are jumping on board to sell these homes before they go into foreclosure, the 'system' for this type of sale is being perfected. Overall these can be complicated sales, but for those buyers willing to take the plunge, you can purchase a wonderful property at a great price! And, for qualified sellers, the Short Sale is typically a better option than the foreclosure for eventually purchasing in the future. There is are benefits for lenders as well. The Short Sale is a much less … (0 comments)
real estate news: May 2010 greater Phoneinx Metro area Real Estate Sales
- 06/25/10 11:43 AM
Home prices in the greater Phoenix metro area continue to be influenced by foreclosure-related activity. However, the foreclosure share of the recorded in May 2010 has decreased from 40% to the 33% recorded in March 2010.We are heading in the right direction. Again, foreclosure activity varies across the valley (40% in El Mirage while only 22% in Tempe). Median foreclosure sales prices widely vary across the valley as well. Even in a single city the median prices can differ. For instance, in North Scottsdale the median price of a foreclosed property was $446,000 while in South Scottsdale the median price was … (1 comments)
real estate news: So what is Renovation Lending?
- 06/23/10 12:18 PM
Renovation Lending is a option for purchasing a property sold 'as is'. This type of loan will include the purchase price and repair money. Wow, the buyer can purchase the house and have the cash to pay for professional contractors to fix it up after closing! No need for ‘out of pocket money’ or a second loan to make the repairs to the property. The borrower can get just one mortgage loan, at a long-term fixed (or adjustable) rate, to finance both the acquisition and the rehabilitation of the property. In today's market place with so many vacant lender owned properties … (0 comments)
real estate news: The Arizona Short Sale Advisory - tool for consumers
- 05/31/10 12:44 PM
Short sales are plaguing the real estate market. Here in Arizona a Short Sale Advisory has been generated by the Arizona Association of Realtors. This advisory provides valuable information for a short sale real estate transaction. In addition to the information included in the Short Sale Advisory itself, there are multiple hyperlink references for web sites with additional assistance and guidelines. The Arizona Short Sale advisory has been an example to the rest of the country for providing the consumer with needed information to answer their short sale questions as well point the homeowner to resources available to them. The Short … (0 comments)
real estate news: Financial Hardship STILL required for a Short Sale
- 03/24/10 05:54 AM
The Short Sale - only a few short years ago this term was not part of our every day vocabulary! In case, you still are not sure what the term means; it is a property that is sold for less than the present balance of the mortgage. The "short" history of this process was often difficult and time consuming and was rarely successful. The government is attempting to provide legislation to assist defaulting homeowners avoid foreclosure by speeding up the Short Sale process. The latest program will allow owners to sell for less than they owe and will give them a … (0 comments)
real estate news: Own Rental Property in Maricopa County?...don't forget to
- 01/18/10 10:09 AM
So, you have decided to lease your Maricopa county property. You have moved and your property is now vacant. The market is slow, you either can't sell your home or you do not want to sell your home because you think it is worth more than the current comparables are indicating. For whatever reason, now you have become a property manager or have hired one. Here in Maricopa County, if you choose to lease your property, you have some obligations to the county. If you lease your property for more than three months in any given year, you MUST update the Legal Class … (3 comments)
real estate news: Good News.....
- 01/18/10 06:54 AM
In an effort to stabilize home values and improve conditions in communities where foreclosure activity is high, Friday, Jan 15, 2010, HUD Secretary Shaun Donovan announced a temporary policy that will expand access to FHA mortgage insurance and allow a quicker resale of foreclosed properties. The 90 Day “Seasoning Rule” for FHA financing, will be lifted starting Feb 1, 2010. It will be in effect for ONE year. FHA currently requires a seller to own (must be on the title) a Phoenix property for a minimum of 90 days before they can sell it to a buyer using FHA financing. In today's real … (0 comments)
real estate news: Great Real Estate Info Resource
- 01/15/10 10:01 AM
The National Association of Realtors(NAR) continues to monitor the historical trends and current status of the real estate market across the country. While some of these numbers may be broad they also provide general local statistics for several major cities. Every state, city, community and subdivision is unique. However, a general report is a place to begin if you are thinking of relocating or if you simply want to have a better understanding of your area. The media information often lags the true market status by a few months while they wait for the data to be dissected. The latest reports … (0 comments)
real estate news: Today's Real Estate Buyers Want to Stay Within Budget
- 01/11/10 11:12 AM
Welcome to 2010! Buyers in today's real estate market are reluctant to push the limits of their budgets. Unlike the buyer in the hot 2005 real estate market which instilled major fear that "if you do not buy today, you will be priced out of the market tomorrow", today's real estate buyer is more cautious and wary. There are multiple factors that have caused this prudence. The general economy, the falling real estate values (why buy today when it may be worth less tomorrow?) , fear instilled by observing buyers who are now 'upside/down' on their homes and recession / job … (1 comments)
real estate news: Will the greater Phoenix metro area reach 90,000 sales??
- 12/29/09 04:58 AM
The greater Phoenix metro area real estate market is booming once again!As of TODAY (12-29-2009) there have been 89,777 properties sold! And, we SHOULD reach 90,000 before December 31st. There were approximately 60,000 properties sold in 2008. Thus, real estate sales improved approximately 50% in 2009! We probably will not see the 50% increase in unit sales that we saw at the end of 2009. However, a 5-10% increase in sales is attainable, and that figure will be the 3rd highest number of closings- all time for our market. So What is the future for the Phoenix metro area real estate market? Here … (1 comments)
real estate news: Buyin Real Estate --- So, 1 + 1 Still Equals 2, Right??
- 12/11/09 07:36 AM
Now is the time to buy a propriety! Whether you are a fist time home buyer or investor, the real estate market has not been so inviting for quite a while! For EVERYONE, the interest rates are LOW The 30-year fixed rate mortgage rate averaged 4.81% for the week ending December 10, 2009. Last week, it averaged 4.71% and last year at this time it averaged 5.4%. (might I add that , when we purchased our first home in the late 70's, the interest rate was a healthy 10%!) The local Multiple Service Inventory is at record levels with many short … (0 comments)
real estate news: There is never a bad time to Improve your Credit Score
- 11/14/09 06:52 AM
Whether you have poor credit or excellent credit - there is never a bad time to improve your credit score! Your credit score is an extremely important financial tool. It provides access to the financing you need in order to buy a car, a home, or pay for college tuition, among other things. When applying for a mortgage, every point in your credit score can make a big difference. Make Plans now to ensure your credit is accurate and begin to make increases on your score over time. So, where to you begin?? First, at a minimum, you should review … (1 comments)
real estate news: Take advantage of the extended and expanded tax credit gift!
- 11/14/09 05:31 AM
Homebuyers have been given a gift! The extension and expansion of the tax credit provides time to still jump in to this ripe real estate market. And, there are some excellent choices available. The FHA option of putting only 3 1/2% down is an excellent opportunity for those buyers who are 'cash poor' but certainly able and qualified to make the monthly mortgage payments. Often the final monthly mortgage payment is less than the cost of rent even without the additional benefit of deductible interest at tax time. Now buyers have until April 30, 2010 to sign a purchase contract … (0 comments)
real estate news: November Phoenix Real Estate Market Updat
- 11/07/09 06:21 AM
November is here! Where do the years go anyway? There is good news on the real estate front as the market is very active. Of course, the most active market remains in the lower price ranges but as these properties sell, the more expensive market will become the new hot spot. Its official – President Obama signed the Homebuyers Tax Credit extension and expansion on Nov 6, 09. So what about the numbers for October 2009? Do not believe everything you read in the newspapers or hear on the news as the data they receive lags the current market by … (0 comments)
real estate news: It's Official! - Tax Credit Extended!
- 11/07/09 05:53 AM
It's Official --- President Obama signed the Homebuyers Tax Credit extension and expansion Two Ways to Qualify for the Tax Credit First-Time Homebuyers: First-time homebuyers (a person who has not owned a home for the last 3 years) may be eligible for the tax credit. The credit for first time home buyers is 10% of the purchase price of the home, with a maximum available credit of $8,000. Single taxpayers and married couples filing a joint return may qualify for the full tax credit amount. Current Owners: The tax credit program now gives those who already own a residence … (0 comments)
real estate news: The Latest AZ Regional MLS Real Estate Report
- 05/30/09 03:25 AM
The Arizona Regional Multiple Listing System (ARMLS) just released their real estate report for Quarter 1 2009. The information is relevant to the overall market health. The Trends article, “Changing Season, or Changing Market”, is interesting and provides definitions for some of the frequently used real estate terms we are hearing lately. For instance, when you hear statistics referring to “Months Supply’, this is defined as the inventory divided by the number of sales in the most recent period (or supply / demand). Most ‘experts’ agree that for our area a 4.1 months supply is the norm – meaning the monthly … (0 comments)
real estate news: Have we hit the'bottom' real estate market in Phoenix?
- 05/12/09 07:16 AM
The Bottom? I suppose your guess is as good as mine. The only way to know if you have ‘hit’ the bottom in the real estate market is when it begins to rise again. There definitley has been a boost in sales as many of the foreclosures and short sale properties are selling. Even new homes sales are increasing slightly. The interest rates remain historically low, the inventory is shrinking and first time home buyers cashing in on the opportunity to own by taking advantage of the first time home buyer $8,000 tax credit. This sounds good and we are definitely … (0 comments)
real estate news: Phoenix metro area real estate snapshot Feb 27, 2009
- 02/27/09 07:52 AM
The greater Phoenix metro area encompasses several cities that are right next door to each other and extend over 80 miles from east to west and 40 miles from north to south . The area is in Maricopa County which is the fourth largest county in terms of population size and the 14th largest in the continental United States, covering over 9,220 square miles. The metro area has grown rapidly over the past several years offering a wide variety of affordable housing and desirable climate. In this ever changing market, where are we today? The current real estate market inventory is 50,052 properties … (0 comments)
real estate news: Don't Miss Out - AZ Real Estate Network meeting Dec 18
- 12/09/08 04:12 AM
The next AZREBN Meetup on December 18th, 2008 in Scottsdale at SAAR . . . DON"T Miss Out!!! SAAR and AZREBN are joining forces to make this a great meetup for all local professionals to take advantage of a FREE workshop with Emily Leach and SEO expert from New Mexico. Emily comes well qualified and will be a delight to learn from and I hope that we can all take some time to shout about it on Twitter, Facebook, post about it on your blog and share our Meetup.com group with others. With 12 years of experience in the field … (1 comments)
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Even thought the temperature remain hot, the Fountain Hills Real Estate market has 'cooled' from July 5th to August 5th 2010.Residential closed sales have dropped from 520 to 473 (16%) and the properties currently in escrow (pending sale) were reduced from 413 to 348 (12%).The overall number of active listings has also been reduced from 2,914 to 2,896. The slower summer month activity should increase with the approaching fall and winter months just around the corner. There are some excellent opportunities for those Snowbirds that descend on the Valley of the Sun.
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