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 ...
More Phoenix homeowners have equity now Fewer metro Phoenix homeowners are underwater now, according to CoreLogic. Approximately 19.5% of the Valley's homeowners owed more than their house is worth as of June 30, down from 21% at the end of this year's first quarter. At the worst of the housing cra ...
Phoenix-area home sales, prices cool in July In Metro Phoenix, both sales and prices dipped in July. Home sales fell 4.5% and the median home sales price inched down to $210,000 compared with June, according to the W.P. Carey School of Business at Arizona State University. The housing market's mode ...
Ariz. homebuilders offering deals New-home prices across metro Phoenix soared too high and too fast in 2012 and 2013 for many buyers to handle, leading to a slump in sales. Home prices have dropped slightly this summer, and builders are trying to lure buyers by offering incentives that include lowe ...
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News Article From: 12-05-2012

Phoenix-area home prices up 34% in a year, new home sales up 85%
After a seasonal slowdown during the scorching summer months, the metro Phoenix housing market was back on the upswing again in October with existing home prices up more than 34% year-over-year and new-home sales up a whopping 85%, according to ASU's W. P. Carey School of Business.  The median single-family home price climbed to $157,000 in October, compared with $116,800 in October of last year.  "The summer lull ended, and we had an influx of snowbirds and other buyers," Michael Orr said in the report.  "We're seeing about 5% more sales activity this October than last October."
Read article - Phoenix Business Journal




FHA OKs 2-Year Extension to 'Anti-Flipping' Waiver
The Federal Housing Administration is extending its 90-day "anti-flipping" waiver through 2014 - which could bode well for single-family investors, rehabbers and buyers seeking low down payment financing.  The waiver allows buyers to purchase homes that have already been sold in less than 90 days.  The latest two-year extension to the waiver includes several requirements, such as the property can't have a pattern of previous flips during the 12 months before the transaction.  Also, if the property being resold is more than 20% higher than what the seller paid for it, the seller must produce documentation showing renovations and repairs made to justify the sales price.  Inspections are required when price jumps are higher than 20% too. 
Read article- Realtor Magazine


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