Friday, July 29, 2011


Phoenix Housing Market Shows Signs of Life - In June, Phoenix had the strongest resale activity in six years, helping to lift total sales from the year-ago month when federal tax credits were boosting the market. There were about 10,500 sales of new and existing houses and condos during June in the metro area covering Maricopa and Pinal counties, up 8.3% from May and 1.5% from June of last year, according to DataQuick, the real-estate research company based in San Diego. Read article:

30-Year Fixed-Rate Mortgage Follows Treasury Yields Higher - Freddie Mac's Primary Mortgage Market Survey shows mortgage rates changing little for the week amid mixed macroeconomic data. 30-year fixed-rate mortgage (FRM) averaged 4.55% with an average 0.8 point for the week ending July 28, 2011, up from last week when it averaged 4.52%. Last year at this time, the 30-year FRM averaged 4.54%. Frank Nothaft, vice president and chief economist at Freddie Mac, reports, "Macroeconomic data released this week were a mixed bag. On the positive side, the index of leading indicators in June rose for the second consecutive month, beating the market consensus forecast." Read article:

Wednesday, July 27, 2011


New Grant for Military First-Time Home Buyers - A new program is offering financial assistance to first-time home buyers who are veterans or active-duty military members. The Pentagon Federal Credit Union Foundation is offering the assistance through its Dream Makers program. A grant up to $5,000 to use on down payments and closing costs when buying their first home. Read article:

Monday, July 25, 2011

7/25/11 update on housing market

Realtors' confidence levels shoot up, survey reports - Phoenix-area real estate agents are regaining confidence in the local housing market, according to the results of a survey released Thursday. The Arizona Regional Multiple Listing Service conducts a monthly survey of active real-estate agents to gauge their confidence in the housing market. In July, the index shot upward nearly 7 points. Read article:

Homebuyers Make Lifestyle Options Priority - The adage when it comes to real estate has been "location, location, location." A recent survey, though, shows that lifestyle options are a priority. These include health and safety, access to cultural activities, and family-friendly neighborhoods. Of course, location is still important, but today's buyers are looking for a sense of belonging in a community as well as creating a desirable lifestyle with the home they buy. Read article:

Thursday, July 21, 2011

7/21/11 newest update

Phoenix real estate market starting to stage a comeback - When will the Phoenix real estate markets return to normal? Either 2013 or 2014, according to several residential and commercial real estate experts who presented their opinions at Real Estate Forward, a forum sponsored by the Arizona Regional Multiple Listing Service in conjunction with the Phoenix Business Journal. “This is not the time to go out and buy one home. It’s time to buy two or three homes,” said Scott Golba, who owns a property management firm and is an expert on residential rentals. Read article:

Gen Y to Lead 'Massive Increase in Housing Demand' - Watch out for Generation Y: This large, diverse, well-educated generation will drive the housing market recovery over the next 10 years, according to economists with the University of Southern California Lusk Center for Real Estate. Gen Y (15-32 year olds) boasts about 77.4 million members, which is about equal in size to the baby boomers (46-64 years old). Yet, Gen Y is much more diverse and educated (60% of Gen Y goes to college). Read article:

Wednesday, July 13, 2011

week of 7/13/11

Phoenix-area foreclosures are down again - There was more good news for the Phoenix-area housing market in June, according to a recent ASU report. The rate of foreclosures continued to drop for the fourth consecutive month. Foreclosures represented 31% of the existing-home transactions in the Phoenix-area market in June, according to ASU, down from 35% in May, 36% in April, 38% in March, and 43% in January and February. Read article:

Mortgage Rates: Lingering Low Mortgage Rates Remain a Great Deal - A survey of wholesale and direct lenders shows that, except for jumbo 30-year fixed mortgage rates, all other mortgage rates have remained stable for the past week. Current 30-year fixed mortgage rates are at 4.250% and 15 year fixed mortgage rates are at 3.500%. FHA continues to be the leader for lending these days with its low down payment requirements and easier credit qualifying. Jumbo 30-year fixed mortgage rates fluctuated this past week and currently are at 5.000%. Read article: