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Positive signs for Valley housing market -
The Valley housing market is
showing signs of improving, according to numbers from Realtor.com. The
median list price for a home in the Phoenix-Mesa area in October was
$157,675 - up more than 5% from September. The number of homes listed
for sale has dropped dramatically to 19,407 in October - down nearly 48%
from October 2010. Read article:
A Sweet Spot in Real
Estate - The rental market is continuing to heat up
and can offer the potential for big returns for buyers willing to jump into
the landlord role. For investors looking to take advantage of low
record-reaching mortgage rates and big discounts on home prices, the
opportunities are plenty. Rents are rising and demand is up too, partially
due to the 4 million former home owners who�ve faced a foreclosure and are
now renters. Read article:
Economic downturn has
families moving back in together - Lennar's NextGen
home is available in the Gilbert community of Layton Lakes near McQueen Road
and Layton Lakes Boulevard. The asking price of the initial home was
$289,000. In a NextGen home, there is a separate living area for more
family. The floor plan shows a kitchenette, private living area,
bedroom, bathroom and one-car garage all separate from the rest of the
house. Read article:
Gov’t Announces More
Refinancing Program Details - Here are some more
details about the changes coming to HARP:
Top 5 States Where
Home Prices Will Rise in the Next 6 Months - Real
estate professionals in Arizona are the most optimistic about home values
rising in their market in the next six months. Read article:
Phoenix new home sales
up 26 percent in August - New-home sales improved in
August, according to the Phoenix Housing Market Letter produced by RL Brown
Reports. There were 632 new closings in August, compared with 500 in
August 2010. Building permits were up from 504 in August 2010 to 692
in August 2011. RL Brown also tracks resales, including homes not
listed on the MLS. Resales were up for both the month and the year to
date. There were 8,605 resales in August and 67,804 for the year to
date, compared with 6,623 last August and 61,730 for the first eight months
of 2010. Read article:
Mortgage Rates Lowest
in Over 50 Years - Freddie Mac today released the
results of its Primary Mortgage Market Survey, showing mortgage rates, fixed
and adjustable, reaching all-time record lows providing further incentive
for those homeowners looking to refinance. 30-year fixed-rate mortgage
(FRM) averaged 4.15% with an average 0.7 point for the week ending August
18, 2011, down from last week when it averaged 4.32%. Last year at
this time, the 30-year FRM averaged 4.42%. 15-year FRM this week
averaged 3.36% with an average 0.6 point, down from last week when it
averaged 3.50%. A year ago at this time, the 15-year FRM averaged
3.90%. Read article:
Valley's "shadow inventory" of homes doing well in market Foreclosures Contribute to Rental Boom
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