Phoenix Metro Area Resale And New Homes

The federal tax credit helped new home sales across metropolitan Phoenix increase enough in April to beat last year's pace. There were 823 new home sales in metro Phoenix last month, reports the Phoenix Housing Market Letter. That compares to 789 in April 2009. It's the first month this year that new homes sales have topped ...

Many new homebuyers make the mistake of rushing out to buy things to fill their home with as soon as the seller accepts their purchase offer and the lender pre-approves their loan. But there are still a few major hurdles to overcome before the keys are handed out. Here are some things to avoid during the home buying process to assure ...

The president of a scrapbook die-cutting company in Phoenix, two doctors, the founder of an information-technology company in Boise, Idaho, and the family of the former Schlitz Brewing Co. are among the buyers and sellers in this week's priciest home sales. $4,000,000. OAS_AD('ArticleFlex_1') Desert Light LLC, a Delaware ...

Here are the latest Maricopa County statistics through April 2010. Properties that are in Notice of Default have dropped to 51,000 units.  This would be the "Shadow Inventory" that we have heard everyone talking about. Notices of Default were up to 54,000 units in Maricopa County.   Please note this means that ...

Lenders in 2009 foreclosed on about 41,000 single-family detached homes in Maricopa County, according to a report from Arizona State University. That's more foreclosures than the Valley has seen during any previous year on record, accounting for more than 35 percent of all existing-home transactions, the report said. Its author, Jay Butler, ...

The Worker, Homeownership, and Business Assistance Act of 2009 has extended the tax credit of up to $8,000 for qualified first-time home buyers purchasing a principal residence. The tax credit now applies to sales occurring on or after January 1, 2009 and on or before April 30, 2010. However, in cases where a binding sales contract is signed by ...

The FHA relaxed the property flip regulations.   This waiver is effective for all sales contracts dated on or after February 1, 2010 and will end on January 31, 2011.  Certain property may be resold and financed using FHA insured financing without waiting 90 days.  FHA has temporarily waived the 90 day wait period, on ...

Many foreclosed homes are bought by investors who can pay cash, market watchers say. That means fewer homes are going to buyers who plan to live there and hang onto the house for a while. Owner-occupied homes ultimately help an area's recovery. The Valley's housing market is seeing the flipside of the investor cycle now. In 2004, investors ...

As long as foreclosures continue to climb, home prices will fall. More than 30,000 Valley homes have been foreclosed on so far this year. That compares to fewer than 1,500 foreclosures in 2006. Now, almost all of the homes are going back to the lenders, which are reselling them for bargain prices. "It's clear foreclosures are putting a ...

Metropolitan Phoenix now leads the nation for home price declines, according to the S&P/Case-Shiller Home Price index released this morning. The Valley’s existing home price fell 30.7 percent between August 2007 and August 2008. The Valley just beat out Las Vegas for the top spot for the biggest drop in home prices. The Nevada ...