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
Cash Out Re-Financings Back In Vogue As Home Equity Surges
By Kenneth R. Harney May 4, 2014, 5:00 a.m. WASHINGTON — The name itself conjures up images of ATMs: cash-outs. You may associate the term "cash-out refinancing" with the frothy and dangerous days of the real estate boom, when some owners turned their hyper-inflating houses into money mills, leveraging their equities to the hilt. That didn't end up too well for many of them. But 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
Should You DIY or Pay The Expert?
When you watch home improvement shows, the professionals make it look so easy to tear out a wall, replace a roof, or set new tile in the bath. Yes, you save a lot of money when you do-it-yourself (DIY), but in some situations, you're better off paying the expert (PTE). According to Angie Hicks, founder of Angie's List, some jobs aren't as simple or as safe to do as they look. In a recent 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
Mortgage Rates Reverse Course
Following two weeks of increases, average fixed-rate mortgages inched down this week, providing buyers some relief heading into the spring home-buying season, Freddie Mac reports in its weekly mortgage market survey. Freddie Mac recorded the following national averages for the week ending April 10: 30-year fixed-rate mortgages: averaged 4.34 percent, with an average 0.7 point, dropping from Continue Reading
***Sneak Peek****coming this weekend Fabulous Custom Seville home!
Welcome to the County Club setting of Seville. This fabulous custom home offers its own resort lifestyle with a swim up bar, covered sunken BBQ and cooking area overlooking the pool, covered spa area, large grass play area, double gates, room for expansion and separate garage if desired, amazing mountain views and two separate large covered patio areas. Inside you will find side by side Sub Zero Continue Reading
Mortgage Related Tax Deductions
As we approach tax day 2014, most homeowners who have taken out a mortgage probably already know of the tax advantage provided by deducting your mortgage interest payments. However, many homeowners overlook another tax break available for points paid to get a home loan. In some cases, points also could shave tax bills for folks who refinanced or got an equity loan or line of credit. As Continue Reading
96% of Markets Better Off Than in 2010
DAILY REAL ESTATE NEWS | MONDAY, MARCH 31, 2014 A new report by RealtyTrac shows that 96 percent of the counties that they track are better off than they were four years ago. But still, there’s a ways to go in the housing market, with only 8 percent of the 410 U.S. counties analyzed faring better than they did during the housing boom eight years ago. RealtyTrac analyzes housing Continue Reading
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