Friday, January 27, 2012

1/27/2012 low rates

Fed Vows to Keep Rates Low Until 2014 - The Federal Reserve announced that short-term interest rates will likely stay near zero for nearly three more years, a move that is expected to spillover to long-term mortgage rates for home buyers and home owners. In August, the Fed had made a rare move to say it would keep rates near zero until at least mid-2013. The Fed said Wednesday that the economy still needs more help and it will now extend that period to 2014. Read article:

Friday, January 20, 2012


Foreclosures dropped in Valley in 2011, but still higher than normal - One of the better developments in the year-end findings was that foreclosures dropped to 35,855, down from 41,625 in 2010, according to the W. P. Carey School of Business at Arizona State University. That translated to foreclosures representing 34% of transactions - down from 39% in 2010. However, foreclosures account for less than 5% of transactions in a typical year. Read article:

30-year Fixed-rate Mortgage Averages 3.88 Percent - In Freddie Mac's results of its Primary Mortgage Market Survey® the average mortgage rates changing little amid mixed economic data. Regardless, the 30-year fixed-rate mortgage (FRM) averaged 3.88% with an average 0.8 point for the week ending January 19, 2012, down from last week when it averaged 3.89%. Last year at this time, the 30-year FRM averaged 4.74%. Read article:

Wednesday, January 18, 2012

Housing market on the mend!!!!!!!

Is housing glut over? Experts predict housing shortage by spring - Real estate experts predict the Valley’s years-long housing glut is reaching its end and, as early as this spring, could stun home buyers by transforming into a shortage. The crunch is expected to be more pronounced in the East Valley, where some subdivisions are approaching build-out and other builders are raising prices. About 58,000 homes were on the market by late 2007. The long-term average is about 33,000 homes listed at any given time. That’s down to 25,000 now or 19,000 when accounting for homes that have deals pending. Read article:

Optimism Builds in Housing Market - Several recent indicators for the real estate industry are pointing to a market that is on the mend and entering recovery mode. Housing experts’ predictions for the new year tend to center around a market stabilizing before entering a gradual, albeit very slow, recovery. However, the tone is more upbeat than it has been in years for the housing market. Existing home sales are expected to increase 12% this year, following a 2% jump last year, Moody’s Analytics predicts. Read article:

Wednesday, January 11, 2012

Thinking of selliing your home? Here are some tips!!!

Top 10 Tips for Sellers - This article covers ten tips to get you on your way to getting your home sold.
1. Hire a Professional. This is no time to be navigating the rough waters of the real estate market on your own.
2. Fully Disclose. Are you selling because your current home needs more work than you can handle?
3. Be Realistic about Pricing. It is much wiser to price a home correctly from the start of the selling process than to have an overpriced home sit on the market for months only to have to do a price reduction.
Read article:

Tuesday, January 10, 2012

Code of ethics Realtors must abide by:

What Does it Mean for Consumers?

How does the Code of Ethics affect everyday real estate practices?

If a REALTOR® represents you, whether you are buying or selling a home, you can count on that REALTOR® to:

1. Be honest with all parties in the transaction – not just with you, as his or her client, but also with the other real estate practitioner and his or her clients.
For example, if REALTORS® represent a buyer with a spotty credit history, they can’t be dishonest with sellers about this fact. At the same time, REALTORS® can help their buyer clients collect and assemble information, such as credit reports and audited tax returns, to demonstrate that the buyer has addressed the problem and improved their situation.

2. Put your interests ahead of his or her own, at all times.
A REALTOR® makes every effort to understand the housing needs of his or her client, thoroughly researches available inventory, and shares all relevant information with the buyer so that he or she can make an informed decision. This service is provided regardless of the compensation available.

3. Disclose all pertinent facts regarding the property and the transaction to both buyer and seller.
If a REALTOR® believes information provided by a seller is questionable, the REALTOR® is obligated to investigate. REALTORS® should recommend that buyers consult their own experts, such as home inspectors, to address concerns. For example, if a home seller asks his or her REALTOR® to conceal the fact that the roof leaks, the REALTOR® cannot comply; if the seller insists, the REALTOR® should end the business relationship with that seller.

4. Be truthful in all communications with the public.
When REALTORS® distribute newsletters, create Web sites, or place advertisements, they must be careful not to represent other real estate professionals’ work product as their own. If recently sold or listed properties in the community are publicized, it must be clear whether the REALTOR® was actually involved in the transaction, or whether that data came from the local multiple listing service or other source. This ensures that the public understands the REALTOR®’s experience and can make an informed decision when choosing real estate representation.

Read a summary of the principles embodied in the NATIONAL ASSOCIATION OF REALTORS®' Code of Ethics.