News Article From: 06-01-2016
Metro Phoenix housing market has best month in a decade
April just might have been the best month for metro Phoenix's housing market in a decade. Foreclosures fell to the lowest level since 2006. Homebuilding continued to rebound. Phoenix kept its spot as one of most affordable big metro areas for homebuyers. And a national moving survey shows the Valley is one of the top 10 U.S. areas where people are moving. Also, many of the buyers needed for the Valley's housing market to finally fully recover are here.
Read article - azcentral.com
Credit Mistakes Potential Home Buyers Make
This article highlights common credit problems buyers should avoid:
1. Don't be late. A person's payment history makes up 35% of the total credit score. A late bill payment of 30 to 60 days stays on the credit report for a whopping seven years.
2. Applying for new credit. If your potential buyers are planning to apply for a home loan in the near future, make sure they don't apply for anything else around the same time.
3. Having high balances. Just making minimum credit card payments isn't good enough for most mortgage companies.
4. Too much disputing. Disputing false charges too often will be a red flag to lenders.
5. Not having a credit history at all. Credit can't be established if there's none to begin with.
Read article - Realtor Magazine