A new frenzy-Phoenix Real Estate

May 23, 2009

Here is the latest article on the Phoenix Real Estate Market- a very good article from the The NY Times-
Every weekday morning, Lou Jarvis drives the sun-baked suburban streets looking for investment gold: a family that will lose its house in a foreclosure auction within a few hours….

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Phoenix ranked #2 Best Bargain City

May 14, 2009

Forbes.com, reports that Phoenix was second on Forbes list of most affordable cities.  Forbes considered four data sets to determine “affordable” cities: average salary for workers with a bachelor’s degree or higher; annual unemployment statistics; cost of living; and the Housing Opportunity Index from the National Association of Home Builders/Wells [...]

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Tax Credit Can Be Used for Down Payment

May 13, 2009

Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, on Tuesday said that the Federal Housing Administration is going to permit its lenders to allow home buyers to use the $8,000 tax credit as a down payment.
He says FHA’s approved lenders will be permitted to “monetize” the tax credit [...]

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Why Short Sales Fail- Phoenix Real Estate

May 9, 2009

Here is an excellent article from the Huffington Posts that explains why the short sale process is painful, lengthy and has such a low success rate: Short Sales: Banks Blocking Way Out Of Foreclosure Crisis.
The article states that
“According to research firm Campbell Communications, only 23 percent of short sale transactions are actually completed. “Three out [...]

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Phoenix Real Estate- Market Update April 2009

May 5, 2009

Here is the latest in the Phoenix Real Estate Market.  These numbers are for all housing types in Phoenix (homes, condos etc).
Currently there are 9,653 active Phoenix homes for sale-showing a decrease from Mar 2009.
The current absorption rate of Phoenix homes for sale is about 5 months, again a significant decrease.
Pending sales continue [...]

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Are you looking for a wonderful Charity to support?

April 22, 2009

 

If you are looking to support a wonderful charity- please check out this post from my broker-Jay Thompson aka- The Phoenix Real Estate Guy.
Rocky Turner (twitter her at @headmutha)  is the founder of this wonderful charity and her mission:
Our Mission is Simple
Mothers Fighting For Others is dedicated to providing orphans and vulnerable children [...]

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Phoenix Home Builders gaining confidence

April 21, 2009

Mattay Homes, a Canadian home builder, is looking to expand in Arizona and looking to build model homes in Queen Creek.
They are looking for land to develop in the in the western and northern ends of the Valley.
The new homes, in Queen Creek, are very affordable and range in size from 1,623 square [...]

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Mid-April Maricopa County Market Update

April 18, 2009

Homes are selling and selling fast!!!
At the beginning of April, there were 42,382 active listings, today there are 39,623, a decrease of 2759.
Currently there are 5344 listings that are pending and so far in April 3467 homes have sold.
The inventory of bank owned homes or foreclosures in Maricopa County is also declining currently there [...]

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Phoenix Real Estate-Market Statistics March 2009

April 13, 2009

Here is the latest in the Phoenix Real Estate Market.  These numbers are for all housing types in Phoenix (homes, condos etc).
Currently there are 10,807 active Phoenix homes for sale-showing a significant decrease from Jan 2009.
The current absorption rate of Phoenix homes for sale is about 5 months, again a significant decrease.
Pending sales [...]

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Chandler Real Estate- Market Statistics Mar 2009

April 9, 2009

Currently there are 1984 active listings in the Chandler AZ Real Estate Market. New listings in Chandler are up, and pending sales up and sold homes up significantly from Feb 2009.
New Listings: 612
Pending Sales: 367
Sold Homes: 306

The current absorption rate or supply of homes is 6.5 months down significantly from Jan 2009.
The average [...]

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