Monday, October 31, 2011

10/31/11 HAVE A SAFE HALLOWEEN!!!!!!!!!!!!!!!!!!!!!!!!!!

12 Most-Searched Housing Markets - Which cities are home buyers targeting the most? recently released its search rankings of 146 metros during the month of September. The Phoenix-Mesa market made the list at #7 with a median list price of $150,000. Read article:

Survey Reveals 5 Home Buying Myths - Overall, today’s home buyers tend to be fairly knowledgeable about the real estate market. However, a recent survey revealed five main areas of confusion. According to the survey, 41% of buyers think they will have to purchase private mortgage insurance, regardless of the amount of their downpayment. In reality, buyers only need to purchase PMI if their downpayment is less than 20% of the home’s purchase price. Additionally, 56% of the buyers said the purpose of the appraisal was to determine if a home was in good condition. In reality, the purpose of an appraisal is to estimate fair market value. Read article:

Monday, October 24, 2011


Obama To Promote New Steps To Help Housing Woes - According to an administration official, Obama's housing initiative will help homeowners with little or no equity in their homes refinance by cutting the cost of doing so and removing caps for deeply underwater borrowers. The new rules apply to homeowners with federally guaranteed mortgages who are current on their payments. With the president's jobs bill struggling in Congress, the White House is refocusing its efforts on steps Obama can take to address the nation's economic woes without getting lawmakers' approval. Read article:

Thursday, October 20, 2011

10/20/11 this weeks update

CoreLogic: Good and bad in Phoenix, U.S. housing markets - CoreLogic released its U.S. Housing and Mortgage Trends report today with an interesting mix of national and local information. Here’s a look at data for the Phoenix metro area for July 2011:
- Total sales: 9,346
- REO sales: 3,415
- Short sales: 1,327
- Percent of sales that were distressed: 50.7 percent
- Home prices month-over-month: Up 1.3 percent
- Percent of home loans 90 days delinquent or longer: 9.9 percent
- Pre-foreclosure filings: 6,022
- Auction filings: 6,035
Read article:

What Your Clients Can Do If Rejected for a Loan - Lending experts say buyers shouldn’t give up if rejected for a loan — they may still be able to qualify for a mortgage if they keep trying. They should take a close evaluation of why the original mortgage application was turned down, and find ways to address those issues. Applicants can, by law, find out why they were rejected in a mortgage application. Some borrowers may need to save up for a larger down payment or take steps to improve their credit score. Others may find shopping around for other lenders can help. Read article:

Additional articles that you may find of interest: