Friday, November 2, 2012

whats new this week?

Arizona Economy Grows In August, Reports Comerica Bank's Arizona Economic Activity Index
Comerica Bank's Arizona Economic Activity Index increased by 0.5 percentage points in August, rising to a level of 86.8 - 16 points above the index cyclical low of 71.0. "The Arizona economy continued to expand in August, as shown by our Arizona Economic Activity Index. Job growth in Arizona has outpaced that of the nation this year. Phoenix home prices have increased every month for the past 11 months. During that period, area home prices have risen 17.2%, after adjusting for inflation," said Robert Dye, Chief Economist at Comerica Bank.

Read article - Sys-Con Media

Fannie, Freddie Streamline Short-Sale Approvals
Beginning Nov. 1, Fannie Mae and Freddie Mac gave nine private mortgage insurers the ability to approve short sales and deeds in lieu of foreclosure for distressed home owners without requiring a separate review. The move is expected to reduce delays, costs, and uncertainty involved in processing short sales and deed in lieu, according to mortgage giant Freddie Mac.
Read article - Realtor Magazine