Foreclosure Market in Phoenix Arizona

Foreclosure market in Phoenix Arizona.  Well what's going on with the Foreclosure market in Phoenix Arizona?  Well, we are now setting a new record for the millennium so far - the lowest rate of new foreclosures notices  in Phoenix Arizona in January since we started keeping records in 2001. Today we have seen 456 for the month to date, at a rate of 35 per working day.  The closest rivals are last … [Read more...]

Can we see signs of trouble in The Housing Markets?

Can we see signs of trouble in the housing markets identified to be at risk due to the collapse of energy prices?  Texas is a non-disclosure state so it is hard for individuals to do research on home sales and prices. However Texas A&M has a large Real Estate Center which is supported by the state, part funded by the license fees paid by real estate agents in Texas. They have access to the … [Read more...]

Commodity Prices, How does this effect the Housing Market?

Commodity Prices, How does this effect the Housing Market?  Well, since last summer we have been expressing serious concern about the potentially damaging effects of the collapse in commodity prices. These include almost all metals, basic foodstuffs like rice, soy and wheat, animal produce and of course, energy products like oil, natural gas and coal.  Low prices sound like good news and they are … [Read more...]

Housing Market Update for Phoenix

What's the housing market update for Phoenix this past few days?   Well, the Cromford® Demand Index is losing upward momentum again, hitting its lowest point since December today. The market is well positioned but so far there has been no significant uptick in demand that would be required to push the index higher. Last year was similar. January was very lackluster, but everything changed as soon … [Read more...]

What are the December Housing Numbers for Phoenix?

What are the December Housing Numbers for Phoenix?   Well, December was a great month for the housing market with particularly strong closings for new homes. Overall sales were up almost 15% from the previous December, while new home closings jumped 45% year over year. So I was rather expecting January to follow through with some positive signs. January is much better than January 2015, but not so … [Read more...]

Where are the Canadian Buyers in Arizona?

Where are the Canadian Buyers in Arizona?  Arizona has always been a winter destination for Canadians and Midwesterners.  Canadians love not just our Arizona weather, but the great value of our property, along with our amazing lifestyle.   Canadians have typically come to Arizona to play golf, hike, shop, and many more outdoor activities.  Canadians take full advantage of our weather, and great … [Read more...]

What are the limits for an FHA loan in 2016 for Arizona?

What are the limits for an FHA loan in 2016 for Arizona?  The FHA single family loan limit for all Arizona counties will remain unchanged in 2016.  The loan limit is $271,050 for all counties except Coconino where it will be $347,000. Higher limits apply for duplex, triplex or fourplex properties. The loan limit of $271,050 is what is called the "floor" at 65% of the national conforming loan … [Read more...]

Update on the Phoenix Housing Market

Update on the Phoenix Housing Market.  What's going on with the Phoenix Housing Market?  Well, the Phoenix Housing Market has some slowing and I have two different opinions on why the Phoenix Housing Market is starting to slow. Starting in October 2015, we had some lending changes,  One of those lending changes was TRID.  TRID is an acronym for TILA- RESPA Integrated Disclosure,  also referred … [Read more...]

Arizona Lifestyle Living

Arizona lifestyle living, what does that mean to you? Well, for many, Arizona Lifestyle is living in the Valley of the Sun, Golf, Tennis, and fully enjoying our weather and all the activities that go with it; living in a beautiful 55+ community such as Roadhaven Resort in Apache Junction Arizona. Roadhaven Resort is a 55 + Active Adult community in East Apache Junction and offers this Arizona … [Read more...]

How are Trustee Sales doing in Arizona?

How are trustee sales doing in Arizona?  First, what is a trustee sale? A trustee sale is a publicly-held auction where buyers can bid on real estate properties. Trustee sales are conducted when a homeowner is in default of his mortgage payment for more than 60 days.  How are trustee sales doing in Arizona, I am starting to feel sorry for trustee sales as they are so low and neglected these … [Read more...]