Monday, January 17, 2011

new stuff brewing


Hope emerges for Phoenix office market - The Phoenix office market remained lackluster in the fourth quarter of 2010 but there are a few glimmers of hope. That’s the assessment of the Metro Phoenix Office Market Report published by Lee & Associates in Phoenix. Absorption rates — the amount of new space leased compared with a previous period — have improved slightly in some submarkets and may improve modestly this year. One bright spot, according to the report, is that investors are buying office properties, given lower prices and in anticipation of the eventual market turnaround. Read article:

More Borrowers Face Expiring Lock-in Rates - With rates on the rise, lenders have reported an increase in lock-in agreements in recent weeks. However, in 2010, the average mortgage took 52.1 days to close. While most rate locks last from 30 to 60 days, more and more borrowers are finding their lock-in agreements are expiring before they’ve been able to make it to the closing table. While most mortgage brokers do not charge money to extend a lock-in agreement, some borrowers who deal directly with lenders may have to pay anywhere from 0.10 to 0.25 for a percentage point of the loan amount for a 15-week extension.

Have a successful year

Whats brewing in 2011

Check these out:

Housing Starts Expected to Climb in 2011

10 Successful Rules of New Homes Sales

Mortgage Rates Down for Second Week