Wednesday, June 27, 2012

continued recovery

CoreLogic: Phoenix foreclosure rate continues to fall
The latest figures released Tuesday by CoreLogic show home foreclosures in metro Phoenix continue to gradually decline -- and at a faster rate than the nation. The rate of foreclosures among outstanding mortgage loans in the greater Phoenix area came in at 2.84% in April, a 1.1 percentage point drop from the same month last year. That's almost half the rate the Valley saw in December 2010, when the foreclosure rate was 5%.
Read article - Denver Business Journal

New-home sales surge to fastest pace in two years
Americans bought new homes in May at the fastest pace in more than two years, adding to evidence of a slow but steady housing recovery. Sales of single-family homes jumped 7.6% to a seasonally adjusted annual rate of 369,000 units, the highest since April 2010, the Commerce Department said Monday.
Read article - MSNBC

Tuesday, June 5, 2012

short sales may go away

Could short sales disappear at the end of this year?
A big tax break for homeowners short selling their house is set to disappear in six months. It's the 2007 Mortgage Forgiveness Debt Relief Act, and experts said if you want to short sell your home, you should act fast. If the Act goes away, short sellers would have to pay taxes the dollar difference between what your mortgage is and what their home sells for.
Read article -

Monday, June 4, 2012

Is this a sellers market yet?

Phoenix Housing Market Continues to Improve
The Phoenix residential real estate market is quickly becoming more favorable to sellers, as the average home selling price continues its upward path. While more homebuyers are entering the market, one of the biggest factors in the pricing gains seen thus far this year is the limited number of sales inventory. The limited sales inventory has led to bidding wars in which homebuyers are paying more than the asking price in many cases. That trend is very much making the housing market a seller's market.
Read article - The Real Estate Media