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Sept. 2 Phoenix market info

September 2nd, 2010
HI, Check the video blog entry below for some Phoenix real estate market information. http://www.youtube.com/watch?v=hbIh9flOE30 (Sorry, the embed code wouldn't work.) Text follows. Have a great day and make it better for others too! Adam Tarr PC Citywide Real Estate Phoenix, AZ 480-236-7374 adam@WeAreAZRealEstate.com HI, I'm Adam Tarr, associate broker with Citywide Real Estate in Phoenix , ...

July numbers for the Phoenix market

August 4th, 2010
As expected, the slide in numbers continued through July. Analysts have been saying for the last few months that many buyers moved up their purchases from May, June and July to take advantage of the tax credit before it's expiration date of April 30. While that definitely seems to have had an affect, we are seeing trends that we haven't in a couple of years. Demand is down and inventory is ...

HUD $100 incentive expiring

July 20th, 2010

In 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, 2010
June numbers for the Desert Ridge area NE Phoenix: 97 Active (as of 7/6);33 pending and 32 AWC (mostly short sales) for 65 under contract. June was slower with 36 closings compared to 45 in May, but average price per foot was up to $141.08 in June from $138.43 in May. The average sale price was up to $344,140 in June from $337,321 in May and the median was up as well to $363,442 from 345,000 ...

Should you really stop paying the mortgage?

July 5th, 2010
Hi,

I 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, 2010
HI,

June 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, 2010

Hi,

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, 2010
Hi,

I 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, 2010

Hi,

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, 2010

At 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 ...

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