8/22/11 updates

Arizona retail sales swell 7.5% - Arizona retail sales grew 7.5% in June compared with a year earlier, with growth strongest among motor-vehicle dealers, the Arizona Department of Revenue reported. Overall sales rose to $3.8 billion, with growth reported across a variety of categories. Wholesalers reported a 14% increase in sales. Arizona State University economist Dennis Hoffman said the June numbers capped a solid spring for retailers in the state and was notable because so many sectors reported growth. Read article:
http://www.azcentral.com/business/articles/2011/08/19/20110819arizona-retail-sales-increase.html

5 iPhone Apps to Help Manage Documents - This article reveals the top iPhone apps for managing documents, which can help you better access, edit, and share documents while on-the-go. Here are a couple of the apps that made the list:
- Scanner Pro: Scan multipage documents; upload to Dropbox and Evernote - $6.99
- Documents Free (Mobile Office Suite): Edit and manage spreadsheet and text files, online and offline; use it to open files on your PC or Mac - Free
Read article:
http://realtormag.realtor.org/daily-news/2011/08/19/5-iphone-apps-help-manage-documents

$$$$$$ for buying a condo.... anyone want to go shopping?

Freddie Offers Cash Incentives for Buying Condos - Freddie Mac’s HomeSteps unit is offering cash to buyers willing to purchase one of its foreclosed condos. HomeSteps is hoping to unload some of its high inventory of foreclosed condos through the incentive program, known as HomeSteps Condo Cash. Through the “Condo Cash” program, condo buyers of HomeSteps properties can get up to $1,500 to help pay for standard home owner association dues. Read article:
http://realtormag.realtor.org/daily-news/2011/08/16/freddie-offers-cash-incentives-for-buying-condos

Valley foreclosure rate under 30%

Valley foreclosure rate under 30%, a 1st since 2009 - The metro Phoenix foreclosure rate has not only fallen for the past five months but in July it dipped below 30% transactions for the first time since the spring of 2009, ASU reported. There were about 2,500 single-family foreclosures in July, compared with 3,300 in June and more than 3,800 in July 2010. The rate, which shows the percentage of single-family home transactions that include a foreclosure, dipped to 29% in July. It peaked at 46% last September before the moratorium. Read article:
http://www.azcentral.com/business/articles/2011/08/12/20110812phoenix-area-foreclosure-rate-under-30-percent.html

Sales still increasing 8/09/11

Existing-home sales increase slightly in 2nd quarter - Sales of existing homes in Maricopa County increased slightly in the second quarter compared with a year earlier, but home prices tumbled much lower, according to The Arizona Republic's latest quarterly housing snapshot. The quarterly housing snapshot is based on numbers from the realty-studies program at Arizona State University and Mesa-based research firm Ion Data. Existing-home sales increased by about 1% in the second quarter, from 20,080 sales in 2010 to 20,290 sales. Read article:
http://www.azcentral.com/business/realestate/articles/2011/08/05/20110805existing-arizona-home-sales-increase-slightly-2nd-quarter.html

MORE NEWS THIS WEEK

Phoenix Housing Market Shows Signs of Life - In June, Phoenix had the strongest resale activity in six years, helping to lift total sales from the year-ago month when federal tax credits were boosting the market. There were about 10,500 sales of new and existing houses and condos during June in the metro area covering Maricopa and Pinal counties, up 8.3% from May and 1.5% from June of last year, according to DataQuick, the real-estate research company based in San Diego. Read article:
http://blogs.wsj.com/developments/2011/07/27/phoenix-housing-market-shows-signs-of-life/

30-Year Fixed-Rate Mortgage Follows Treasury Yields Higher - Freddie Mac's Primary Mortgage Market Survey shows mortgage rates changing little for the week amid mixed macroeconomic data. 30-year fixed-rate mortgage (FRM) averaged 4.55% with an average 0.8 point for the week ending July 28, 2011, up from last week when it averaged 4.52%. Last year at this time, the 30-year FRM averaged 4.54%. Frank Nothaft, vice president and chief economist at Freddie Mac, reports, "Macroeconomic data released this week were a mixed bag. On the positive side, the index of leading indicators in June rose for the second consecutive month, beating the market consensus forecast." Read article:
http://realtytimes.com/rtpages/20110729_rates.htm

ATTENTION MILITARY FIRST TIME HOME BUYERS!!!!!!!!!

New Grant for Military First-Time Home Buyers - A new program is offering financial assistance to first-time home buyers who are veterans or active-duty military members. The Pentagon Federal Credit Union Foundation is offering the assistance through its Dream Makers program. A grant up to $5,000 to use on down payments and closing costs when buying their first home. Read article:
http://realtormag.realtor.org/daily-news/2011/07/26/new-grant-for-military-first-time-home-buyers

7/25/11 update on housing market

Realtors' confidence levels shoot up, survey reports - Phoenix-area real estate agents are regaining confidence in the local housing market, according to the results of a survey released Thursday. The Arizona Regional Multiple Listing Service conducts a monthly survey of active real-estate agents to gauge their confidence in the housing market. In July, the index shot upward nearly 7 points. Read article:
http://www.azcentral.com/business/realestate/articles/2011/07/21/20110721realtors-confidence-levels-shoot-up-survey-reports.html

Homebuyers Make Lifestyle Options Priority - The adage when it comes to real estate has been "location, location, location." A recent survey, though, shows that lifestyle options are a priority. These include health and safety, access to cultural activities, and family-friendly neighborhoods. Of course, location is still important, but today's buyers are looking for a sense of belonging in a community as well as creating a desirable lifestyle with the home they buy. Read article:
http://realtytimes.com/rtpages/20110722_lifestyle.htm