Phoenix Metro Area Resale And New Homes

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 ...

For aspiring home owners who find their goal stubbornly elusive, newly enacted legislation providing a tax credit of as much as $7,500 for first-time home buyers might just be the opportunity of a lifetime. But like so many of the good things in life, time is of the essence for buyers who want to take advantage of this outstanding opportunity. ...

 FHA LOAN CHANGES In February, President Bush signed a bill that made a temporary increase to both conforming and FHA loan limits. The U.S. Department of Housing and Urban Development (HUD) recently released the new limits, which range from $271,050 to $729,750 depending on the county. Previously, they were capped at $362,790. With FHA ...

In November of 2007 there were 3,280 resale Phoenix  Az metro homes that were sold. Which was down from 3,610 in October. And November 2006 wasn't a good comparison, but there were 5,040 resales then. Phoenix AZ Real Estate home prices continued to go down. The median price of an existing metro Phoenix AZ ...

 Click Here To Search For Phoenix Metro Area Homes: www.AzRealtyPros.com Nation’s Building News, Week of December 10th - Bush Plan Aims at Helping to Stabilize Housing Market A plan announced last week by President Bush to limit foreclosures by working with key mortgage lenders and investment firms to freeze interest rates for five ...