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: 02-01-2013

Scoring a bargain on a foreclosed home in Phoenix not easy
The number of Phoenix homeowners losing their properties to foreclosure has taken a nosedive over the past year, and the downward trend is expected to be ongoing this year.  For the Valley, foreclosure activity last year plummeted by about 37% year-over-year - the biggest drop of all 20 of the nation's largest markets, RealtyTrac said.  Phoenix also has significantly fewer foreclosures available on the market, relatively speaking, with only a nine-month supply last year.
Read article - Phoenix Business Journal




FHA to Raise Premiums on Its Mortgages
The FHA has announced that it will be hiking premiums on the majority of its new mortgages by 10 basis points, or 0.1%.  This is expected to add $13 a month to the average borrower's monthly payments, according to the organization.  The changes are a way to reduce FHA's exposure to risky loans.  Borrowers with jumbo loans will also see premiums increase, by 5 basis points or 0.05 percent.  The minimum downpayment requirement on jumbo loans will go from 3.5% to 5%.  Most borrowers will be required to pay insurance premiums for the life of the loan.
Read article - Realtor Magazine


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