Thursday, May 26, 2011

Beware Sellers!!!!!!!

Sellers beware: 8 factors that devalue a good home - There are a number of factors that sellers should consider regarding the resale value of their property. Some of these issues may devalue your home or scare some potential buyers away entirely, even if your home is an otherwise outstanding property. Among the issues, there's: 1) Location, location, location; 2) Good renovations gone bad; 3) Overly creative customization; 4) Unappealing curb appeal; and 5) Pets gone wild. See the full article for a complete list and details:

Monday, May 23, 2011

fresh brew 5\23/11

Valley housing auctions fast and furious - A record number of foreclosure houses were sold at trustee-sale auctions, in metro Phoenix in April. The number of sales has been growing for months and the record pace is expected to continue through next year. The outdoor food court in downtown Phoenix has effectively become the trading floor for the region's hottest commodity: foreclosed houses. Most days, more than 30 people surround the tables. At least five auctioneers set up their laptops and sell to the highest bidder. Read article:

Avoid Home Flaws Being Uncovered Too Late - Home inspections don’t always turn up everything wrong with a home, but unknowing buyers can quickly turn unsatisfied when they move into their new home if they find a bunch of problems. Home inspections, for example, don’t specifically test for environmental safety hazards like lead, asbestos, or radon. To help avoid post-move-in surprises, buyers also might consider bringing in additional safety inspectors to evaluate the home. Read article:

Thursday, May 19, 2011

Homebuilding on the mend!!

Experts: Metro Phoenix new-home market is on mend - Metro Phoenix's homebuilding market is on the second step of a five-phase recovery process, according to one of the nation's top housing analysts. During a Urban Land Institute panel discussion this week on the future of homebuilding, real-estate consultant John Burns laid out the five stages the current market must go through to rebound: 1) job growth, 2) reduced housing vacancies, 3) a market in which demand exceeds supply, 4) increases in rents and home prices, and then, finally, 5) new construction. "Phoenix is on its way," said Burns. "The area has job growth and is firmly in Stage 2." Read article:

Wednesday, May 11, 2011

new brew this week 5/11/11

Phoenix-area foreclosures down slightly in April - In April, for the second month in a row, the foreclosure rate among Phoenix-area homes decreased slightly from the previous month, according to a recent ASU study. In January and February, 43% of home-resale transactions in the Phoenix-area market were foreclosures. The incidence of foreclosure declined to nearly 38% of transactions in March and again to about 36% in April. Read article:

Mortgage Fraud Reaches Record High - Scammers are taking advantage of the real estate market, changing their schemes to take advantage of a distressed real estate market. Reports of mortgage fraud in 2010 reached the highest level on record, the Treasury Department reports. Mortgage fraud reports include everything from borrowers falsifying information on loan documents, fraudulent appraisals, to elaborate schemes that target home owners underwater on their mortgage. Read article:

Friday, May 6, 2011

BUY NOW!!!!!!

Gallup Poll: Americans Say Buy Now - Homes are more affordable now than they’ve been in the last 35 years, reports The average buyer nowadays can expect to spend about 17% of her monthly gross income on a mortgage, which compares to a 25% average since 1975. Americans seem to be getting the message about the value of home ownership. Nearly 70% of Americans say now is a good time to buy. Read article: