Phoenix Foreclosures Continue To Fall

In a new report released by data research  firm Core Logic, the foreclosure rate in Phoenix has continued to fall.

By |June 27th, 2012|Arizona Real Estate|0 Comments

Mortgage Broker Accused of Down Payment Scheme

A Phoenix area mortgage broker is being sued over allegedly manipulating FHA down payment requirements. The Lending Company, Wells Fargo Funding and RJ Reynolds are all named as defendants in the class action suit.

By |June 19th, 2012|General|0 Comments

Homes Are Getting Bigger

Homes are getting bigger. Does that mean the housing market is getting stronger? Newly released data from the U.S. Census Bureau shows homes are growing in size. In fact we may see a high water mark in 2012. According to this article, homes are typically built smaller in times of economic downturn and larger during times of prosperity.

By |June 19th, 2012|General|0 Comments

Facebook Acquires Face.com

It appears Facebook, in its attempt to preserve its standing as the preeminent social media behemoth, has  acquired yet another tech company. Face.com, a company devoted to face recognition software, has been purchased by Facebook for an undisclosed sum.

By |June 19th, 2012|General|0 Comments

Arizona #3 in Construction Job Growth

The latest data from the Bureau of Labor Statistics shows Arizona enjoyed the 3rd highest spike in construction job growth in May, trailing only Texas and California.

By |June 19th, 2012|Arizona Real Estate, General|0 Comments

Housing Starts Slow But Permits Rise

A recent report by the U.S. Department of Commerce states a decline in housing starts due to the slowdown in the apartment and multi-family sector. However there was an increase in permits, which is an indicator of future starts, and also single family housing starts currently underway.

By |June 19th, 2012|General|0 Comments

New Report Shows Phoenix Area Homes Sales Rising

A recent report from a Phoenix area title company shows the Phoenix housing market continues to pick up steam. The report released by Grand Canyon Title Agency, Inc. also shows a sharp decline in the number of foreclosures.

By |June 12th, 2012|General|0 Comments

FHA Streamline Loan Requirements

If you have an existing FHA loan on your primary residence and a fairly good credit score, you may be able to take advantage of the FHA Streamlined Refinancing Program, which eliminates many of the complex steps involved in a typical FHA refinance.   No appraisal is required as long as the borrower reduces their payment by 5 percent, which has caused many to liken this program to the HARP 2.0 program.

Key requirements of the FHA Streamlined Program include the following:

  • Your original FHA loan must have been taken prior to 2009.
  • You must have made payments on time for at least one year and must be current on your payments at the time of application.
  • Your lender must be FHA approved.
  • You must have owned the property for at least 6 months prior to refinancing.
  • You will be limited to the amount of your original loan unless you pay for a new appraisal to show that the home value has increased.
By |June 12th, 2012|Arizona Real Estate|0 Comments

Tracking HARP and Other Programs in Arizona

This revamped version of the Home Affordable Refinancing Plan shows promise for helping seriously underwater homeowners in Arizona.  Read more…

By |June 12th, 2012|Arizona Real Estate|0 Comments

Arizona awards $20 milion in affordable housing tax credits

The Arizona Housing Department awarded $20 million in tax credits to 18 projects last week and has worked  out deals for the projects to be completed in almost half the time. These credits are expected to save each developer approximately $1 million  on new Arizona projects and encourage additional housing development over the next decade.  Read more…

By |June 12th, 2012|Arizona Real Estate|0 Comments