Foreclosure activity in June was down 16 percent from a year prior, marking the lowest level since July 2006 — before the housing bubble burst — according to RealtyTrac's Midyear 2014 U.S. Foreclosure Market Report. The report showed a much-improved picture: Foreclosure filings, which include default notices, scheduled auctions, and bank repossessions, were down 19 percent in the first half of Continue Reading
Why Low Rates Aren’t Always Good for Housing
Mortgage rates are near historic lows, which is great news for home owners and buyers. But the situation could prove to be a big thorn in the side of the recovery. More than one-third of homes with a mortgage have a mortgage rate below 4 percent, according to estimates provided by CoreLogic, a real estate data provider. Many home owners have taken advantage of low rates recently, fueling a Continue Reading
New-Home Sales Surge Nearly 19%
After a sluggish start to 2014, new-home sales posted a strong rebound in May. Sales of newly built single-family homes soared to the highest rate since May 2008, jumping 18.6 percent last month, according to data released Tuesday by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The Good News Has Been Building Builders Feeling Better This Month No. 1 Continue Reading
New-Home Shoppers Are in Upgrade Mode
DAILY REAL ESTATE NEWS The new-home market in the last year has largely been driven by the upper tier, resulting in record-setting rises to the number of bedrooms, bathrooms, and garages being added to new homes, according to U.S. Census Bureau data released Monday. Forty-four percent of homes built last year had at least four bedrooms, the highest percentage recorded since the Census began Continue Reading
New-home permits up in metro Phoenix, but sales falter
Homebuilding in metro Phoenix ticked up slightly in April, but it's not likely a sign of a long-anticipated market rebound because new-home sales fell. Last month, 1,087 permits to build new houses were issued in the Valley, compared with 996 in March, according to analyst firm RL Brown Reports. New-home sales dipped to 730 in April from 856 in March. The median price of a new house Continue Reading
Housing Picture Remains ‘Worrisome,’ Fannie Mae Says
Mortgage giant Fannie Mae says that though recent indicators suggest economic growth will pick up in the second quarter of this year, the housing market still remains fragile. Fannie Mae’s Economic & Strategic Research Group forecasts an increase in consumer spending and notes that an upbeat April jobs report showed an increase in hiring at the fastest pace in more than two years, Continue Reading
5 Most Expensive Neighborhoods in Metro Phoenix
Because you never know when you might buy the winning lotto ticket or strike oil in your own backyard, Jackalope Ranch has put together a list of the five most expensive neighborhoods in metro Phoenix. To assemble this list of costly communities, they looked at neighborhoods with the highest average price of listed homes. Not surprisingly, the majority of high-dollar homes resided in the Continue Reading
Are Buyers Too Afraid of Mortgage Rejection?
DAILY REAL ESTATE NEWS | MONDAY, APRIL 28, 2014 Fifty-six percent of all potential home buyers—those who want to buy a home within the next 24 months—say they’re waiting to purchase because they fear being rejected by lenders. What’s more, 30 percent of current home owners say they don’t think they could qualify for another loan, according to a national consumer survey of more than 1,000 Continue Reading
Mortgage Availability Hits 3-Year High
DAILY REAL ESTATE NEWS | FRIDAY, APRIL 11, 2014 Access to mortgage credit is at its highest level in at least three years, and credit standards are expected to loosen even more this year, according to a newly-released index by the Mortgage Bankers Association. MBA’s index, which tracks mortgage credit availability, shows that in March the gauge rose to 114 – the highest reading in the Continue Reading
March Market Stats for Gilbert, Mesa, Queen Creek & San Tan Valley
Click on the link below to see the stats for these East Valley cities. For assistance with your real estate needs, please contact us at 480-240-9724 Ext. 0 or by email at info@azexp.com. Stats for east valley Continue Reading
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