Arizona Loaned

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    HARP 2.0 is Coming: Refinance your Underwater Mortgage in Arizona

    I’ve been getting a lot of questions lately on HARP 2.0 (Home Affordable Refinance Program), so I thought I would write a post to give a basic introduction to HARP 2.0. HARP 2.0 is a federal program that was announced in October by President Obama. It is designed for homeowners who purchased their homes during the housing bubble, but now find their mortgage underwater. Currently those people are unable to refinancing under existing programs due to the depreciation in their homes value. This is significant because up to half of Arizona mortgages are underwater. The original HARP program which allowed [...]

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    Resource: The December Cromford Report

    The Cromford Report is a monthly snapshot of the Phoenix housing market. If you are in the industry, or thinking about buying a home, it is a great resource. Below is a summary of the December report, but you can download the full version in our Arizona mortgage resource center. Greater Phoenix – Single Family Detached Market Headlines Except above $800,000, sales prices in $/SF are now higher than a year ago. Inventory is falling again for all price ranges. Above $400,000 demand remains relatively weak. Lender-owned inventory is still falling and REOs are losing market share in sales. Active [...]

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    Has the Real Estate Market in Phoenix Stabilized?

    First to go down, first to come back up – at least, that’s what it’s been looking like for Phoenix’s Real Estate market. Inventory data analysis services supplied by the Cromford Report show that we aren’t as dire as we once were. As other markets continue to experience falling prices, Phoenix has been at the forefront of the list of markets to stabilize, as our prices have been quite steady through the most of this year, which is fantastic to see. This has a lot to do with our shrinking inventory – obviously, less houses on the market means more [...]

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    With Prices Low, Now is the Time to Buy in Phoenix

    Every market is naturally susceptive to fluctuation, prices go up and down, and that’s how things tend to go. As much as we hear about the difficulties in selling properties in the current shape of Phoenix’s real estate market, the upside is the other side of the coin – the purchasing of properties. As houses continue to foreclose combined with the decline of real estate prices, we are seeing more homes go for much less than they can be resold for in the future. This is the perfect time to invest some money into real estate, some areas of Phoenix [...]

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    Phoenix Real Estate Market Recovering

    In case you missed it, the Wall Street Journal had some good news for the Phoenix area. Our housing market, the life line of the Valley’s economy, is showing signs of life. Falling inventory and investors are credited with the uptick, which isn’t exactly ideal when speaking of the economy as a whole, but it is a spark we all need. More importantly, properties are seeing multiple offers, and homes aren’t staying on the market as long. We are still in quite a mess, but in this economy, who can be faulted for celebrating good, okay, decent news? From WSJ.com [...]

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    Phoenix Real Estate Market Improves. Will It Last?

    Good news for the Phoenix area and great news for those of us in the real estate industry. Housing prices in the valley have increased for the first time in months. The median home was seen creeping up to just over $118,000 in June. As for a wider economic indicator, the number of foreclosures in the valley has dropped in addition to the rise. I’ve been saying for some time that I’ve noticed an uptick in the market. Multiple offers on Phoenix homes, properties not on the market for very long, more first time home buyers, etc. This is more [...]