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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    Tips for Selling Your Home in a Down Phoenix Market

    While the economy is improving, and the Phoenix real estate market is showing signs of renewed life, it can still be difficult to sell your home these days. Believe it or not, there are some fairly simple things you can do to help get that SOLD sign in your front yard. These little things can mean the difference between your house sitting on the market for months and a speedy transaction. I’ve found an article I’d like to share with you from Business Insider Magazine. “12 Ways To Sell Your House In This Crappy Market” To buy or sell in [...]

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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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    Phoenix Real Estate Market Slowly Recovering

    A study earlier in the June of 2011 showed that the Phoenix Real Estate market has had an increase of sales by 1.5% from the data of the previous year’s June, with an 8.3% increase from the month prior to this year’s statistics being collected. Now, 1.5% may not be something to break that bottle of champagne that you’ve been saving since your first marriage, however – before you go back to thinking that we as a real estate market are still in the middle of our across the board flat line, hear this: 1.5% is still progress, and even [...]

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    Mortgage Rates Hit Historic Low, Time to Refinance

    For the first time in history, interest rates have fallen below 4% on a 30-year-fixed mortgage. This is great news if you are looking to buy a home, or refinance your current mortgage. Hopefully, these historic rates also provide some relief to the struggling recovery. The idea is if people pay less of their income to their mortgage, they will have more money to spend on other things. If you are in the market, this is unquestionably a good thing. Via The average rate on the 30-year fixed mortgage this week fell below 4 percent for the first time [...]

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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 [...]

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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 [...]

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    Sign of Recovery? Realty Times: 2011 Home Sales Outpacing 2010, without Tax Credit

    According the Realty Times, home sales in 2011 are on pace to top those of 2010. Those in the industry may be surprised to hear this as the expiration of the new home buyers tax credit was widely expected to have a profound negative impact on sales. The only explanation for the sustained housing numbers is a wider economic recovery. I’ve been optimistic about the conditions in Phoenix for some time, so I take this news as more of the same. Of course, 40% of the market are all-cash buyers, but the other 60% are finding their borrowing options expanding. [...]

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    In Phoenix, A Recovering Real Estate Market

    According to The Cromford Report, the real estate marketing in Greater Phoenix is recovering by almost every measure. As I posted last week, I think a recovery in the Phoenix real estate market is taking hold. This report only gives credence to that optimism, and that is good news for real estate agents valley wide. Today we see that in every price range, supply is down and demand is up in the Phoenix area. Not to mention the average price per square foot in the valley is up from its January’s low to $84. There is even an indication of [...]