Merry Christmas

Highlights for 2014

Friday, December 19, 2014 Phoenix housing market highlights for the year After several years of wild roller-coaster activity, the Phoenix-area housing market is ready to end a relatively flat year. Highlights for the year include: * The median single-family-home sales price went up 4% in October from a year ago - from $200,000 to $208,000 * Sales of single-family homes down 5% from last October * The Valley is experiencing a small bump up in two areas - investor interest and new-home sales * The market share for new-home sales is doing better and has recovered to 14% Read article - ASU News

3% down payment

3% Down Payments May Be Game Changer
Fannie Mae and Freddie Mac has announced that first-time home buyers can now qualify for loans with down payments as low as 3%. Freddie Mac launched Home Possible Advantage, a conventional mortgage with a 3% down-payment requirement geared to low- and moderate-income borrowers. To qualify, first-time home buyers are required to participate in a borrower education program. With Fannie Mae's 3% down-payment offering, borrowers must still meet standard eligibility requirements, including underwriting, income documentation, and risk management standards. At least one of the co-borrowers must be a first-time buyer. The loans will require private mortgage insurance.
Read article - Realtor Magazine

      

Phoenix a growing Market

Monday, December 8, 2014  10 Markets to Grow the Most Next Year The U.S. housing market is expected to make strides overall in 2015, but 10 metros in particular are "ready for significant acceleration across housing metrics" next year, according torealtor.com®'s latest housing report. The Phoenix-Mesa-Glendale market made the list at #8 thanks to the following expectations: income growth; increase in new-home construction by 22%; home sales expected to grow by 11%. Read article - Realtor Magazine