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...]

Maricopa County Market Index for single family Homes

Maricopa County Market Index for single family homes in the top 17 cities.   Here we see significant improvement in the Southeast Valley, particularly the inner areas. Chandler and Tempe have improved the most for sellers since the beginning of December, with Gilbert and Mesa also edging higher. The Southwest Valley, as represented by Buckeye and Goodyear, is also doing better for … [Read more...]

What have the Feds done with the Federal Funds Rate?

What have the Feds done with the Federal Funds Rate?  Well, as of today December 16, 2015, the Fed has finally been and gone and done it. The target Federal Funds Rate has been raised by 0.25%. This really ought not to have a major impact on mortgage rates, but what impact it does have is much more likely to cause them to rise rather than fall. This will make homes slightly less affordable, more … [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...]

Does Arizona Still have a shortage of housing supply?

Does Arizona still have a shortage of Housing Supply?  We still have a shortage of Housing supply but it is really only affecting the lower price ranges. I would say below the $250,000 price range.  Housing Supply at the upper prices ranges is adequate and in some segments excessive. This is not only true of homes to buy, it appears to be a growing phenomenon for rentals too.  Homes in the price … [Read more...]

Which Arizona cities have weaker markets?

  Which Arizona Cities have weaker markets for sellers?  15 out of 17 cities have weaker markets for sellers than a month ago.    The only exceptions are Avondale and Peoria.  Let's see which cities are weaker......... Examining once again the Cromford® Market Index for the single family markets in the 17 largest cities we find: 8 cities are now in the balanced zone and 3 more are only … [Read more...]

Do you ever wonder what title insurance is and why you need it?

Do you ever wonder what title insurance is and why you need it? I often get questions about the necessity of title insurance?  Well, here are a few answers to your questions given by a title agent. What is title insurance?    An insurance policy-protecting against loss should the condition of title to land be other than as insured.   Why do I need title … [Read more...]

WHAT ARE THE FOUR PARTS OF MEDICARE?

Have questions regarding Medicare?  My friend Andy Lockridge with Lockridge and Associates, takes the mystery out of Medicare.  He is extremely knowledgeable regarding any questions you have on Medicare and when to apply for Social Security.  Andy takes each client and looks at their specific situation to give them different scenario of each situation.  Andy Lockridge will be speaking about … [Read more...]

latest listings in biltmore 85016

Latest listings in the Biltmore area of 85016. This area of the valley has the financial district, and many shops and restaurants you will only find the valley.  Close to all the hospitals in down town Phoenix, such as Children's Hospital, The Heart hospital,  and St. Jude.  Close to Phoenix Mountain Preserve.    Need additional information of the Biltmore area, fill out the form … [Read more...]

4 bedroom homes in Marbella for sale

Latest 4 bedroom homes for sale in Marbella, Marbella is located in South East Mesa, near Superstition springs Mall and both the 60 freeway and loop 202 Freeway, 30 miles to Phoenix and Sky harbor international airport.  With new businesses coming to Mesa, like the new Ipad factory and close to the new Phoenix-Gateway airport.  Parks and Hospitals within minutes.  Outdoor activities include … [Read more...]