first time buyers

Selective First-Time Buyers Can Miss Deals - In a recent poll, 87% of respondents felt that finding a "move-in ready" home was important. Some agents say first-timers are being more selective; and some are turning away from well-priced homes because they do not have granite countertops or they need a new carpet. Agents believe TV shows have made buyers more knowledgeable about home design, but some worry that such programming also has given buyers unrealistic expectations. Read article:
http://www.realtor.org/RMODaily.nsf/pages/News2011030804

new first time home buyer new rules

New Rules for First-Time Home Buyers - Without a house to sell , first-time home buyers have had a field day in the depressed housing market. Until recently, anyway. A series of new rules, regulations and policies have changed the landscape, making buying that new home harder and more expensive. This month, fees on most new mortgages will rise by up to 0.50%. In April, fees on small-down-payment mortgages, a first-time buyer favorite, will spike. Meanwhile, more lenders are requiring larger down payments, and new proposals from the Obama administration call for mortgages to become more expensive and limited in size. Read article:
http://www.smartmoney.com/personal-finance/real-estate/new-rules-for-firsttime-home-buyers-1299539050817

whats brewing this week 2/28/11

Why 2011 May Be the End of the Housing Crash - Housing is the most affordable it has been in decades, according to analysts at Moody's Analytics. They don't just look at house prices. They also look at incomes. Nationally, the cost of a house is the equivalent of about 19 months of total pay for an average family, the lowest level in 35 years. Prices usually average close to two years' pay, although that varies nationally. "Housing prices will probably bottom in 2011," says Scott Simon, a managing director at money-management firm Pimco in Newport Beach, Calif. He foresaw the housing crash, helping his firm dodge losses that plagued Wall Street. Read article:
http://online.wsj.com/article/SB10001424052748703796504576168822497423738.html?KEYWORDS=housing+recovery

todays new brew

more good news


Existing-Home Sales Up Again in January - The uptrend in existing-home sales continues, with January sales rising for the third consecutive month with a pace that is now above levels a year ago, according to the NATIONAL ASSOCIATION OF REALTORS®. Existing-home sales increased 2.7% in January from the previous month to a seasonally adjusted annual rate of 5.36 million, and are 5.3% above January 2010's total. This is the first time in seven months that sales activity was higher than a year earlier. Read article:
http://www.realtor.org/rmodaily.nsf/pages/News2011022301

new brew

things are looking up YAY


Is Luxury Making a Comeback? - "Personal embracement of luxury is now back to (pre-recession) 2007 levels," marketing specialist Jim Taylor, author of “Selling to the New Elite,” told USA Today. "We're seeing that in cars, private jet usage and finally, in high-end real estate. There's a real change in the way people feel about money. They're making purchases they put off during the recession." Read article:
http://www.realtor.org/rmodaily.nsf/pages/News2011022204

Metro Phoenix top home sales of the past week
http://www.azcentral.com/business/realestate/articles/2011/02/23/20110223phoenix-area-home-sales.html

Scottsdale condo prices increase in January
http://www.azcentral.com/business/realestate/articles/2011/02/22/20110222scottsdale-condo-prices-increase-january.html



Have an awesome day

whats brewing this week?

Hello,
check this out

Consumer confidence highest in 3 years
http://www.azcentral.com/business/consumer/articles/2011/02/22/20110222biz-consumerconfidence0222.html

Phoenix retail market turning the corner
http://www.bizjournals.com/phoenix/news/2011/02/21/phoenix-retail-market-turning-the-corner.html

Until next time
Patty

Hello,

Things are looking up in the northwest valley: read on


Peoria, Buckeye adult communities rank high in sales - Two West Valley communities - Trilogy at Vistancia in northern Peoria and Sun City Festival in Buckeye - led in sales and closings among active adult communities in 2010. Trilogy at Vistancia's 137 sales in 2010 leads the pack among the 10 active adult communities under construction in Arizona. Sun City Festival closed on the most sales: 119 closings compared with 118 at the Vistancia's 55-and-older community. Read article:
http://www.azcentral.com/business/realestate/articles/2011/02/14/20110214peoria-trilogy-vistancia-sun-city-festival-buckeye-high-sales.html