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July numbers for the Phoenix market
August 4th, 2010HUD $100 incentive expiring
July 20th, 2010In Arizona, HUD's $100 Down payment initiative will expire on July 31, 2010. The $100 down payment was for owner occupants (Any individual who purchases a HUD home as their primary residence for at least 12 months after closing and who has not purchased a home from HUD as an owner occupant in the past twenty four months) purchasing a HUD Home with FHA financing. This incentive will continue t ...
Desert Ridge, Phoenix June numbers
July 6th, 2010Should you really stop paying the mortgage?
July 5th, 2010I had a pre-listing appointment this morning.This person was referred to me by an agent who isn't familiar with doing short sales. It still amazes me that there is so much mis-information out there about what to do. This nice gentleman was looking for info on short sales and if it was the right thing for him. While only he can really determine that, I provided the options he has and h ...
June ARMLS statistics
July 2nd, 2010June numbers are still being refined, but for residential sales in ARMLS, June ended with 9191 a slight increase from May and less than .1% less than June '09. Average sale price was $180,199 and median was $127K. Average was up from May, median down. The median has fluctuated from $125-130K during the last year.
In Scottsdale,June ended with 724 residential closings, up slightly from ...
What is HAFA?
May 17th, 2010Hi,
Here is a simple explanation of how the Home Affordable
Foreclosure Alternatives (HAFA) program works. If you have
questions about whether this can work for you, please contact
me.
Adam Tarr PC
Citywide Real Estate
Phoenix, AZ
480-236-7374
www.AvoidAZForeclosureToday.com
Bottom of the market?
May 4th, 2010I just received an email from a lender that indicates a policy change on lending. For the past two years, Arizona has been designated a declining market state by investors and mortgage insurance companies. This designation has reduced loan to value maximums on real estate mortgages negatively impacting the real estate purchase market. Investors require mortgage insurance on conventiona ...
Fannie to pay closing costs!
February 1st, 2010Hi,
Another new announcement at the end of last week from Fannie Mae.
This is great for some of the first time buyers out there and
anyone looking to purchase a Fannie foreclosed home. Just another
reason that makes buying now worthwhile.
Check out the press release:
http://www.fanniemae.com/newsreleases/2010/4923.jhtml?p=Media&s=News%20Releases
It's February one already?!!!
Make it a ...
New FHA seasoning rules
January 19th, 2010At the end of last week a new waiver was announced regarding the
90 seasoning requirement on FHA loans. Since then, every lender
has been shouting this from the rooftops to get the word out. I
think it is a good thing, but also wonder who this will really
benefit. In a way it will benefit us all, but mostly it will
benefit the people that have the money to invest.
First, for those of you ...