Number of Active & Sold Listings in the Phoenix-Metro Area (8/31/2009)

I will be posting the number of active listings in ARMLS (Arizona Regional Multiple Listing System) covering the Phoenix-Metro Area each week. Check back each week to see the updated numbers:

Total Active Listings - 31,333 (-70)

Single Family Detached - 24,047 (-98)
Patio homes - 668
Townhouses - 2,431
Apartment Style - 2,491
Gemini/Twin Homes - 239
Manufactured/Mobile Housing - 1,267
Modular/Pre-fab - 35
Loft Style - 155

Total Sold Listings (2009) - 60,556 (+1953)

Single Family Detached - 53,947 (+1706)
Patio homes - 665
Townhouses - 2922
Apartment Style - 1952
Gemini/Twin Homes - 347
Manufactured/Mobile Housing - 615
Modular/Pre-fab - 21
Loft Style - 87

July new home sales blast past expectations

"Sales of newly constructed homes leaped unexpectedly in July to hit their highest level since last September.

New homes sold at an annualized rate of 433,000 during the month, according to a joint report issued by the Census Bureau and Department of Housing and Urban Development.

That far exceeded analysts' forecasts and was up 9.6% from the revised 395,000 rate recorded in June. A consensus of industry experts surveyed by Briefing.com had predicted July sales of 390,000."

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July new home sales blast past expectations

Home price report: Case-Shiller shows increase of 2.9%

"National home prices may be on the road to recovery.

After three years of declines, home prices increased 2.9% in the three months ended June 30, according to the latest S&P/Case-Shiller report. That is the first quarter-over-quarter improvement in three years.

Prices in the national index are down 14.9% compared with the second quarter of 2008, the report said. But that is better than the record 19.1% decline that was set in the first three months of 2009."

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Home price report: Case-Shiller shows increase of 2.9%

Number of Active & Sold Listings in the Phoenix-Metro Area (8/23/2009)

I will be posting the number of active listings in ARMLS (Arizona Regional Multiple Listing System) covering the Phoenix-Metro Area each week. Check back each week to see the updated numbers:

Total Active Listings - 31,403 (-61)

Single Family Detached - 24,145 (-68)
Patio homes - 671
Townhouses - 2,450
Apartment Style - 2,464
Gemini/Twin Homes - 242
Manufactured/Mobile Housing - 1,253
Modular/Pre-fab - 34
Loft Style - 144

Total Sold Listings (2009) - 58,603 (+1716)

Single Family Detached - 52,241 (+2962)
Patio homes - 647
Townhouses - 2811
Apartment Style - 1875
Gemini/Twin Homes - 333
Manufactured/Mobile Housing - 590
Modular/Pre-fab - 20
Loft Style - 86

Record jump in existing home sales in July

"Sales of existing homes rose in July for the fourth consecutive month, lending support to economists who argue a recovery is near.

Sales of previously owned single-family homes were up 7.2% compared with June and 5% from July 2008, The National Association of Realtors (NAR) reported Friday. The monthly gain was the largest on record for existing-home sales, which NAR has tracked since 1999.

'The housing market has decisively turned for the better,' said Lawrence Yun, NAR's chief economist. 'A combination of first-time buyers taking advantage of the housing stimulus tax credit and greatly improved affordability conditions are contributing to higher sales.'"

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Record jump in existing home sales in July

Mortgage delinquencies still rising

"The number of Americans who have fallen at least 30 days behind on their home loan payments inched up slightly between the first and second quarters of 2009, but jumped 44% compared on an annual basis, according to an industry report.

That puts delinquencies at a record 9.24% of mortgages, according to the National Delinquency Report from the Mortgage Bankers Association (MBA) That represents more than 4 million of the 45 million borrowers covered by the report.

What the rate does not include, however, are loans already in foreclosure. Some 4.3% of all the mortgages are in that stage, up from 3.85% three months earlier and 1.55 percentage points from one year ago."

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Mortgage delinquencies still rising

Anger over former IndyMac's loan modification efforts

"Five months after securing a sweet deal to buy IndyMac Bank, the new owners say they are fulfilling their obligation to modify troubled home loans.

Some frustrated borrowers and housing counselors, however, say it's anything but easy to deal with the institution, now known as OneWest Bank. They say the bank needs to do more for its troubled customers because of the perks it is receiving from the government.

'They're less responsive, more difficult to get affordable workouts from, and their reps are ruder,' said Alexa Milton, homeowner advocacy director at Acorn Housing. 'They have a responsibility to do better.'"

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Anger over former IndyMac's loan modification efforts

Piecing together a No. 1 home builder

"Shareholders of Pulte Homes Inc. and Centex Corp. on Tuesday approved a $3.1 billion merger of the two companies, which Pulte officials said creates a new local and national market leader in home sales.

The merger will extend Pulte's reach to first-time home buyers - the target market for Centex - while allowing Centex to benefit from Pulte's upscale image, company officials said. Both firms' shareholders approved the deal by an overwhelming majority.

While the combined company will retain the two distinct brands, it will be called Pulte Homes and will be based at Pulte's existing headquarters in Bloomfield Hills, Mich."

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Piecing together a No. 1 home builder

Fed, Treasury extend TALF through mid-2010

"The Federal Reserve said Monday it was extending to mid-2010 an emergency program aimed at boosting lending in the ailing commercial real estate market.

In a joint announcement with the Treasury Department, the Fed said it would extend its Term Asset-Backed Securities Loan Facility (TALF) to June 30 for newly issued commercial mortgage-backed securities.

The Fed and the Treasury also extended TALF through March 31 for newly issued asset-backed securities (ABS) and already-issued, or 'legacy,' commercial mortgage-backed securities (CMBS)."

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Fed, Treasury extend TALF through mid-2010

Colonial's failure will make mortgages more scarce

"The collapse of Colonial BancGroup poses another hazard to the still-shaky housing market: Mortgages could become even harder to get.

The Southern regional bank, based in Montgomery, Ala., was the largest remaining player in warehouse lending, which provides short-term financing to independent mortgage bankers. At one time, these mortgage bankers originated half of all U.S. home loans using these funds.

Today, the warehouse lending market is decimated. In 2007 it was worth an estimated $200 billion; now there is just $25 billion available -- 25% of which belongs to Colonial. With Colonial's failure, those funds could become even more scarce."

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Colonial's failure will make mortgages more scarce

Number of Active & Sold Listings in the Phoenix-Metro Area (8/16/2009)

I will be posting the number of active listings in ARMLS (Arizona Regional Multiple Listing System) covering the Phoenix-Metro Area each week. Check back each week to see the updated numbers:

Total Active Listings - 31,464 (-81)

Single Family Detached - 24,213 (-30)
Patio homes - 665
Townhouses - 2,458
Apartment Style - 2,466
Gemini/Twin Homes - 244
Manufactured/Mobile Housing - 1,250
Modular/Pre-fab - 35
Loft Style - 133

Total Sold Listings (2009) - 56,887 (+1632)

Single Family Detached - 49,279 (+1468)
Patio homes - 629
Townhouses - 2707
Apartment Style - 1806
Gemini/Twin Homes - 322
Manufactured/Mobile Housing - 579
Modular/Pre-fab - 20
Loft Style - 77

Foreclosure plague: No cure yet

"The foreclosure plague continued to devastate last month.

There were more than 360,000 properties with foreclosure filings -- including default notices, scheduled auctions and bank repossessions -- an increase of 7% from June and 32% from July 2008, according to RealtyTrac, an online marketer of foreclosed homes. In fact, one in every 355 U.S. homes had at least one filing during July.

'July marks the third time in the last five months where we've seen a new record set for foreclosure activity,' said James J. Saccacio, chief executive officer of RealtyTrac. 'Despite continued efforts by the federal government and state governments to patch together a safety net for distressed homeowners, we're seeing significant growth in both the initial notices of default and in the bank repossessions.'"

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Foreclosure plague: No cure yet

Work begins on new Coolidge power plant

"Calgary, Alberta-based Trans- canada Corp. began work on a $500 million natural-gas-fired power plant in Coolidge this week, one of three gas plants southeast of Phoenix that will supply Salt River Project customers.

The 12 generators at the Cool- idge Generating Station will be able to go from idle to full steam in about 10 minutes when the plant opens in 2011, supplying as much as 575 megawatts to the SRP system, or enough electricity for about 143,750 houses.

The 'peaking' power plant will be important for SRP to quickly meet electricity demand on hot summer afternoons or when other power plants unexpectedly shut down, said Alex Pourbaix, president of Transcanada's energy division."

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Work begins on new Coolidge power plant

Interview with Deutsche Bank about 'underwater' mortgages

"Karen Weaver, global head of Deutsche Bank's securitization research division -- responsible for analyzing credit default swaps, collateralized mortgage obligations, and other exotic Wall Street products -- said last week that 48% of U.S. mortgage owners will end up owing more than their home is worth by 2011.

The figure may have left many Americans wondering how this could be possible. But consider that 27% of U.S. homeowners with a mortgage are already 'underwater.' And according to Deutsche Bank, home prices may fall another 14% before hitting a bottom.

Fortune spoke with Weaver to understand the implications of her recent forecast, why it will affect regions that missed the housing boom, and why still-falling home prices are hurting even the best borrowers."

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Interview with Deutsche Bank about 'underwater' mortgages

Record home-price fall last quarter

"Median home prices fell a record 15.6% during the three months ended June 30, compared to the same period in 2008, according to an industry report.

There is good news though: The survey from the National Association of Realtors reported the median home price rose 4% compared to the first quarter of 2009 -- to $174,100 from $167,300.

The increase in median price was not a surprise, representing, as it did, the traditionally strong spring selling season. But the jump did offer the prospect that the worst of the price declines may be behind us."

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Record home-price fall last quarter

Number of Active & Sold Listings in the Phoenix-Metro Area (8/9/2009)

I will be posting the number of active listings in ARMLS (Arizona Regional Multiple Listing System) covering the Phoenix-Metro Area each week. Check back each week to see the updated numbers:

Total Active Listings - 31,545 (+142)

Single Family Detached - 24,243 (+143)
Patio homes - 671
Townhouses - 2,485
Apartment Style - 2,474
Gemini/Twin Homes - 249
Manufactured/Mobile Housing - 1,244
Modular/Pre-fab - 35
Loft Style - 144

Total Sold Listings (2009) - 55,225 (+1391)

Single Family Detached - 49,279 (+1224)
Patio homes - 615
Townhouses - 2632
Apartment Style - 1735
Gemini/Twin Homes - 309
Manufactured/Mobile Housing - 563
Modular/Pre-fab - 18
Loft Style - 74

Get your foreclosure now

"You've heard of speed dating? It's got nothin' on foreclosure buying these days. In many places, anyone who wants to buy a foreclosure better act fast, or they're going to come away with bupkus.

REOs, the industry term for homes repossessed by lenders and put back on the market, are often selling in a day -- sometimes in less.

'We're seeing REOs go very quickly. Offers come in immediately after the listing comes on the market, within 24 hours,' said Brad Geisen, founder of Foreclosure.com. Some homes have been put into contract in less than 90 minutes."

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Get your foreclosure now

SRP customers can receive more money to weatherize

"Salt River Project increased the amount of money that low-income customers can qualify for to help fix their air-conditioning and weatherize their homes to $6,000 from $2,000.

The bump increases the amount available to pay contractors to install more comprehensive efficiency upgrades on houses. On average, the upgrades will save customers about $300 a year, officials said.

The additional money is important because more utility customers are struggling to pay their bills with recent rate increases, advocates for low-income customers said."

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SRP customers can receive more money to weatherize

Number of Active & Sold Listings in the Phoenix-Metro Area (8/2/2009)

I will be posting the number of active listings in ARMLS (Arizona Regional Multiple Listing System) covering the Phoenix-Metro Area each week. Check back each week to see the updated numbers:

Total Active Listings - 31,403 (-392)

Single Family Detached - 24,100 (-339)
Patio homes - 661
Townhouses - 2,492
Apartment Style - 2,506
Gemini/Twin Homes - 249
Manufactured/Mobile Housing - 1,219
Modular/Pre-fab - 34
Loft Style - 142

Total Sold Listings (2009) - 53,834 (+2890)

Single Family Detached - 48,055 (+2526)
Patio homes - 597
Townhouses - 2559
Apartment Style - 1687
Gemini/Twin Homes - 297
Manufactured/Mobile Housing - 549
Modular/Pre-fab - 18
Loft Style - 72