ARCHIVED BLOG POSTS
2014
The November 2014 Realtors (r) Confidence Index Survey showed that 1st time buyers accoutned for 31% of the sales in November 2014 up from 29% the month before and 28% from November 2013. Distressed sales market share also was 9% compared to 14% at this time last year. Median Days on Market was ...
12/30/2014
Although the college football playoff doesn't include the Fiesta Bowl this year, the game kicks off what is to be an exciting few weeks in the valley of the Sun, culminating with the Super Bowl on February 1st. No 20 Boise State faces off against No 10 University of Arizona tomorrow night. We wi...
12/30/2014
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According to the NAHB millennials tend to buy homes that are smaller and less expensive than the older generations. Not surprising as they are the youngest home buyers and have little or no wealth accumulation. They are also more likely to purchase a resale home than a new home. Here in the Ph...
12/29/2014
According to the article on CNBC, although home price increases slowed down dramatically this year they still made enough gains in equity, enough to give homeowners a collective $1.7 trillion in equity over last year. There are still approximately 9 million homeowners in a negative equity positi...
12/26/2014
According to ASU's W.P. Carey School of Business the average rent for a house or a condo is up 5.7% from a year ago and the average rent for an apartment is up 5%. In contrast the average home price is down about 2% from a year ago. The obvious reason is that deman for rentals is up in the Phoe...
12/24/2014
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An article in the Washington Post suggests that the lower gas prices we are now experiencing could lead to increased values in the suburban housing market. Here's some interesting points from the article: 5 % of people that moved between 2012 and 2013 said they did so to get closer to work or cu...
12/24/2014
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Well it's been three months since I've signed up for Active Rain. To be honest with you I'm pretty sure I still don't know how to use it to its fullest capabilities. Here are some of the things I've learned while on here: 1. By setting a goal to Blog regularly I'm forced to look for new and int...
12/23/2014
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In my opinion FHA has become a sub-prime lender. While the allowance of a 580 FICO score would almost be enough to cement it let's look a little further. In the summer of 2013 FHA changed their mortgage insurance guidelines and the mortgage insurance stays on for the life of the loan as oppose...
12/22/2014
Freddie Mac (FHMLC), in its December 2014 US Economic and Housing Market Outlook predicted that 2015 will be the best year for housing sales since 2007. The areas they based these predictions are home sales, mortgage originations, home values, rental market and mortgage rates and how these items ...
12/21/2014
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FHA has chosen to not extend the "Flipping Waiver" on homes being resold with 90 days of the seller's acquisition. This is inspite of efforts from the NAR to urge FHA to extend the waiver stating that it has led to positive effects where resale of rehabilitated homes has increased the availabilit...
12/18/2014