New-home sales dip 2.2% to record low

"Sales of new homes fell to a record low in February, according to a government report released Wednesday, as the glut of foreclosed homes and a weak economy dampened the housing market.

New-home sales fell 2.2% to a seasonally adjusted rate of 308,000 last month, compared to a upwardly revised annual rate of 315,000 in January, the Census Bureau said. "

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New-home sales dip 2.2% to record low

Don't foreclose! Do a short sale

"Short sales are the hottest thing going in the distressed-property market, and the trend is expected to get even hotter in coming weeks, when the government starts handing out cash to encourage lenders to close these deals.

"Banks have ramped up short sale approvals," said Duane Legate of House Buyer Network, which connects short sellers with buyers. "They're hiring a lot of the people who once worked in the mortgage-lending industry and moved them over to short sales."

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Don't foreclose! Do a short sale

Number of Active & Sold Listings in the Phoenix-Metro Area (3/28/2010)

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 - 34,812 (-465)

Single Family Detached - 27,216 (-466)
Patio homes - 733
Townhouses - 2,619
Apartment Style - 2,614
Gemini/Twin Homes - 296
Manufactured/Mobile Housing - 1,171
Modular/Pre-fab - 32
Loft Style - 131

Total Sold Listings (2010) - 19,050 (+3,663)

Single Family Detached - 16,102 (+3,097)
Patio homes - 245
Townhouses - 1145
Apartment Style - 1050
Gemini/Twin Homes - 116
Manufactured/Mobile Housing - 364
Modular/Pre-fab - 11
Loft Style - 17

Phoenix homes now undervalued by 22%

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Phoenix homes now undervalued by 22% - Phoenix Business Journal

Number of Active & Sold Listings in the Phoenix-Metro Area (3/21/2010)

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 - 35,156 (-121)

Single Family Detached - 27,505 (-177)
Patio homes - 740
Townhouses - 2,658
Apartment Style - 2,610
Gemini/Twin Homes - 313
Manufactured/Mobile Housing - 1,166
Modular/Pre-fab - 34
Loft Style - 130

Total Sold Listings (2010) - 17,203 (+1,816)

Single Family Detached - 14,527 (+1,522)
Patio homes - 217
Townhouses - 1,063
Apartment Style - 936
Gemini/Twin Homes - 105
Manufactured/Mobile Housing - 329
Modular/Pre-fab - 10
Loft Style - 16

Number of Active & Sold Listings in the Phoenix-Metro Area (3/14/2010)

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 - 35,277 (-130)

Single Family Detached - 27,682 (-73)
Patio homes - 753
Townhouses - 2,673
Apartment Style - 2,599
Gemini/Twin Homes - 315
Manufactured/Mobile Housing - 1,154
Modular/Pre-fab - 32
Loft Style - 128

Total Sold Listings (2010) - 15,387 (+1,570)

Single Family Detached - 13,005 (+1,305)
Patio homes - 201
Townhouses - 941
Apartment Style - 822
Gemini/Twin Homes - 99
Manufactured/Mobile Housing - 294
Modular/Pre-fab - 9
Loft Style - 16

Losing your home: What happens in a foreclosure

"When a homeowner falls behind on at least three mortgage payments, a lender will usually initiate foreclosure proceedings.

In the first step, the lender hires a trustee to handle the foreclosure and ensure that the process follows Arizona laws."

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Losing your home: What happens in a foreclosure

Fast evictions adding to pain of Phoenix home foreclosures

"Homes that fall into foreclosure in Phoenix are sold at a public auction. The highest bidder becomes the new owner. The former owner then has to move out.

Departing owners have five days under Arizona law to vacate the property. But in the overheated foreclosure market that has come in the wake of the metropolitan Phoenix housing crash, some people are being told to get out the same day their house is sold at auction."

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Fast evictions adding to pain of Phoenix home foreclosures

Number of Active & Sold Listings in the Phoenix-Metro Area (3/7/2010)

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 - 35,407 (+154)

Single Family Detached - 27,755 (+179)
Patio homes - 753
Townhouses - 2,668
Apartment Style - 2,596
Gemini/Twin Homes - 310
Manufactured/Mobile Housing - 1,163
Modular/Pre-fab - 28
Loft Style - 134

Total Sold Listings (2010) - 13,817 (+1,741)

Single Family Detached - 11,700 (+1,436)
Patio homes - 180
Townhouses - 829
Apartment Style - 729
Gemini/Twin Homes - 89
Manufactured/Mobile Housing - 268
Modular/Pre-fab - 9
Loft Style - 13