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 - 31,356 (+47)
Single Family Detached - 24,136 (+56)
Patio homes - 677
Townhouses - 2,467
Apartment Style - 2,442
Gemini/Twin Homes - 246
Manufactured/Mobile Housing - 1,228
Modular/Pre-fab - 43
Loft Style - 117
Total Sold Listings (2009) - 67,469 (+1741)
Single Family Detached - 60,010 (+1520)
Patio homes - 734
Townhouses - 3283
Apartment Style - 2267
Gemini/Twin Homes - 386
Manufactured/Mobile Housing - 672
Modular/Pre-fab - 21
Loft Style - 96
Sunday, September 27, 2009
Thursday, September 24, 2009
Existing home sales fall 2.7% unexpectedly in August
"Existing home sales fell in August, snapping a four-month streak of increases, according to a report released Thursday.
Sales of previously-owned homes fell 2.7% last month from July, but were up 3.4% from a year ago, said the National Association of Realtors.
Sales had jumped 15.2% in the previous four months."
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Existing home sales fall 2.7% unexpectedly in August
Sales of previously-owned homes fell 2.7% last month from July, but were up 3.4% from a year ago, said the National Association of Realtors.
Sales had jumped 15.2% in the previous four months."
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Existing home sales fall 2.7% unexpectedly in August
Sunday, September 20, 2009
After crash, loan officers are reined in
"Most of the blame for the loans that led to the housing crash has been leveled at big lenders and Wall Street investment firms. However, all those high-risk mortgages that led to record foreclosures and fraud cases wouldn't have been as popular without the loan officers who sold them.
Too many loan officers pushed mortgages that weren't safe or smart for borrowers and collected higher fees on the riskiest mortgages. Hundreds of thousands of those loan documents were later found to be fraudulent, with exaggerated incomes, forged signatures and inflated property values.
To stem such abuses, state and federal regulators are imposing tough new regulations and licensing requirements on the segment of the loan industry that had none."
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After crash, loan officers are reined in
Too many loan officers pushed mortgages that weren't safe or smart for borrowers and collected higher fees on the riskiest mortgages. Hundreds of thousands of those loan documents were later found to be fraudulent, with exaggerated incomes, forged signatures and inflated property values.
To stem such abuses, state and federal regulators are imposing tough new regulations and licensing requirements on the segment of the loan industry that had none."
Click below to read more...
After crash, loan officers are reined in
Government strengthens FHA program
"With a growing number of homebuyers depending on government-insured loans, the Obama administration is taking steps to shore up the Federal Housing Administration program.
Rising demand and a slower-than-expected rebound in home prices are pushing one of FHA's reserve accounts below the 2% ratio mandated by Congress, said Commissioner David Stevens. The capital reserves are a cushion against expected losses in the program, which has suffered soaring defaults amid the housing collapse.
The FHA has skyrocketed in popularity during the mortgage crisis since it backstops banks if borrowers stop paying. Housing experts are growing increasingly concerned about the agency's ability to handle rising numbers of defaults."
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Government strengthens FHA program - Sep. 18, 2009
Rising demand and a slower-than-expected rebound in home prices are pushing one of FHA's reserve accounts below the 2% ratio mandated by Congress, said Commissioner David Stevens. The capital reserves are a cushion against expected losses in the program, which has suffered soaring defaults amid the housing collapse.
The FHA has skyrocketed in popularity during the mortgage crisis since it backstops banks if borrowers stop paying. Housing experts are growing increasingly concerned about the agency's ability to handle rising numbers of defaults."
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Government strengthens FHA program - Sep. 18, 2009
Number of Active & Sold Listings in the Phoenix-Metro Area (9/20/2009)
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 - 31,309 (+28)
Single Family Detached - 24,080 (+36)
Patio homes - 672
Townhouses - 2,465
Apartment Style - 2,459
Gemini/Twin Homes - 245
Manufactured/Mobile Housing - 1,227
Modular/Pre-fab - 41
Loft Style - 120
Total Sold Listings (2009) - 65,728 (+1775)
Single Family Detached - 58,490 (+1559)
Patio homes - 719
Townhouses - 3182
Apartment Style - 2183
Gemini/Twin Homes - 376
Manufactured/Mobile Housing - 663
Modular/Pre-fab - 21
Loft Style - 94
Friday, September 18, 2009
Arizona property-tax bills up despite drop in home values
"Many Valley homeowners can expect to see at least a slight increase in their property taxes this month, despite the significant drop in their house's value.
The Maricopa County treasurer began sending out tax bills last week and will continue through the end of the month.
Much of the increase is due to the state equalization tax, which is back after a three-year hiatus. The tax, which helps fund education in Arizona, adds $58 this year for a homeowner with a property assessed at $176,000, according to an Arizona Republic analysis."
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Arizona property-tax bills up despite drop in home values
The Maricopa County treasurer began sending out tax bills last week and will continue through the end of the month.
Much of the increase is due to the state equalization tax, which is back after a three-year hiatus. The tax, which helps fund education in Arizona, adds $58 this year for a homeowner with a property assessed at $176,000, according to an Arizona Republic analysis."
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Arizona property-tax bills up despite drop in home values
First-time homebuyer tax credit claims soaring
"More than 1.4 million Americans have already claimed the new tax credit for first-time home buyers, according to a report from the Internal Revenue Service.
The credit, which applies to sales as of January 2009, is good for 10% of the price of a home, up to $8,000, and supporters assert it has helped stabilize the housing market. It's available to anyone who has not owned a home for three consecutive years prior to purchase, and to qualify for the full credit buyers must be purchasing a primary residence, and couples can earn no more than $150,000, while individuals must make less than $75,000.
The credit has been an important stimulus tool for two reasons. It's fully refundable, meaning that even if buyers owe no taxes whatsoever, they'll get an $8,000 check from the IRS. And this refund will put money in consumers' pockets for good, as opposed to the $7,500 first-time homebuyer tax credit that could be applied to sales made between April 2008 and July 1 2009."
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First-time homebuyer tax credit claims soaring
The credit, which applies to sales as of January 2009, is good for 10% of the price of a home, up to $8,000, and supporters assert it has helped stabilize the housing market. It's available to anyone who has not owned a home for three consecutive years prior to purchase, and to qualify for the full credit buyers must be purchasing a primary residence, and couples can earn no more than $150,000, while individuals must make less than $75,000.
The credit has been an important stimulus tool for two reasons. It's fully refundable, meaning that even if buyers owe no taxes whatsoever, they'll get an $8,000 check from the IRS. And this refund will put money in consumers' pockets for good, as opposed to the $7,500 first-time homebuyer tax credit that could be applied to sales made between April 2008 and July 1 2009."
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First-time homebuyer tax credit claims soaring
Housing starts jump in August, but single-family units dip
"New home building increased overall in August, a government report said Thursday, but the gain was clouded by a dip in new construction of single-family homes.
The Census Bureau reported Thursday that builders broke ground for 598,000 new homes during August, up 1.5% from a revised 589,000 in July. That matched a consensus analyst forecast compiled by Briefing.com.
Building permits rose 2.7% to 579,000 from a revised 564,000 in July. "
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Housing starts jump in August, but single-family units dip
The Census Bureau reported Thursday that builders broke ground for 598,000 new homes during August, up 1.5% from a revised 589,000 in July. That matched a consensus analyst forecast compiled by Briefing.com.
Building permits rose 2.7% to 579,000 from a revised 564,000 in July. "
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Housing starts jump in August, but single-family units dip
Sunday, September 13, 2009
Number of Active & Sold Listings in the Phoenix-Metro Area (9/13/2009)
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 - 31,281 (+213)
Single Family Detached - 24,044 (+226)
Patio homes - 675
Townhouses - 2,420
Apartment Style - 2,471
Gemini/Twin Homes - 238
Manufactured/Mobile Housing - 1,242
Modular/Pre-fab - 37
Loft Style - 154
Total Sold Listings (2009) - 63,953 (+1247)
Single Family Detached - 56,931 (+1098)
Patio homes - 702
Townhouses - 3101
Apartment Style - 2102
Gemini/Twin Homes - 366
Manufactured/Mobile Housing - 640
Modular/Pre-fab - 21
Loft Style - 90
Total Active Listings - 31,281 (+213)
Single Family Detached - 24,044 (+226)
Patio homes - 675
Townhouses - 2,420
Apartment Style - 2,471
Gemini/Twin Homes - 238
Manufactured/Mobile Housing - 1,242
Modular/Pre-fab - 37
Loft Style - 154
Total Sold Listings (2009) - 63,953 (+1247)
Single Family Detached - 56,931 (+1098)
Patio homes - 702
Townhouses - 3101
Apartment Style - 2102
Gemini/Twin Homes - 366
Manufactured/Mobile Housing - 640
Modular/Pre-fab - 21
Loft Style - 90
Sunday, September 6, 2009
Number of Active & Sold Listings in the Phoenix-Metro Area (9/6/2009)
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 - 31,068 (-265)
Single Family Detached - 23,818 (-229)
Patio homes - 666
Townhouses - 2,423
Apartment Style - 2,486
Gemini/Twin Homes - 240
Manufactured/Mobile Housing - 1,245
Modular/Pre-fab - 35
Loft Style - 155
Total Sold Listings (2009) - 62,706 (+2150)
Single Family Detached - 55,833 (+1886)
Patio homes - 687
Townhouses - 3044
Apartment Style - 2039
Gemini/Twin Homes - 359
Manufactured/Mobile Housing - 633
Modular/Pre-fab - 21
Loft Style - 90
Friday, September 4, 2009
Homebuyers cashing in $8,000 tax credits
"Hundreds of thousands of first-time homebuyers across the country have begun to claim their tax credits, according to new government data released on Friday.
So far, nearly 315,000 people have claimed the tax credit after filing an amended 2008 tax return, according to a Treasury Department report on the status of the Recovery Act.
California led all states with 42,304 claimed credits."
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Homebuyers cashing in $8,000 tax credits
So far, nearly 315,000 people have claimed the tax credit after filing an amended 2008 tax return, according to a Treasury Department report on the status of the Recovery Act.
California led all states with 42,304 claimed credits."
Click below to read more...
Homebuyers cashing in $8,000 tax credits
Tuesday, September 1, 2009
The housing recovery mirage
"Is the housing bust over?
Shares of Toll Brothers (TOL), Hovnanian (HOV) and KB Home (KBH) and other builders have surged. The exchange-traded fund that tracks the group has nearly doubled since March.
Home starts have risen for five straight months, while sales of new homes recently hit their highest level since last September. Prices are up as well: the Case-Shiller index of national house prices rose 2.9% in the second quarter, ending a three-year decline."
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The housing recovery mirage
Shares of Toll Brothers (TOL), Hovnanian (HOV) and KB Home (KBH) and other builders have surged. The exchange-traded fund that tracks the group has nearly doubled since March.
Home starts have risen for five straight months, while sales of new homes recently hit their highest level since last September. Prices are up as well: the Case-Shiller index of national house prices rose 2.9% in the second quarter, ending a three-year decline."
Click below to read more...
The housing recovery mirage
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