Arizona Real Estate Notebook

All 124 zip code real estate charts available in the right-hand column have now been updated through OCTOBER 2009 with the number of home sales, the median home price and the median home price per square foot. Video Comments – Phoenix median home prices by zip code through October 2009 Phoenix home PRICE trends – [...]

Housing affordability in metropolitan Phoenix, AZ remains extremely good due to low interest rates and a low median home price, although the affordability of resale homes did fall bit in the third quarter. Graph created by John Wake, HomeSmart Real Estate, based on ASU data. This ASU index uses income, interest rates and median home [...]

… but increasing at a decreasing rate Phoenix Homes Appreciation Slows in September Greater Phoenix home prices appreciated 0.8% between August and September compared to appreciation of 1.6%, 1.8% and 1.1% in the previous 3 months, according to my analysis of Case-Shiller data. Well, 0.8% appreciation in one month is still very large but we’re [...]

This sounds like a good program from Fannie Mae. Under the program, dubbed First Look, Fannie plans to consider offers only from potential owner-occupants and certain public-housing entities during the first 15 days in which a foreclosed home is on the market.

Under Contract in 2 Days! Click Here for Home Tour Great Neighborhood! This large, well cared for 4 bedroom home is in the McCormick Ranch area of Scottsdale, Arizona. The McCormick Ranch area is known for being green. You’ll enjoy the grassy parks with mature trees and you’ll love the walking/bike paths throughout. This home, [...]

And Calculated Risk has this comment; … historically house prices do not bottom until after foreclosure activity peaks in a certain area. Since the subprime crisis delinquency rates might be peaking, it would not be surprising if prices are near a bottom in the low end areas. But in general I’d expect further declines in [...]

Factoids from the Mortgage Bankers Association; 14.4% of all mortgage loans in the United States are either in delinquency or foreclosure. Florida, California, Arizona and Nevada accounted for 43% of all foreclosure actions initiated in the the United States in the third quarter of 2009.

Click Here for Home Tour Great Neighborhood! This large, well cared for 4 bedroom home is in the McCormick Ranch area of Scottsdale, Arizona. The McCormick Ranch area is known for being green. You’ll enjoy the grassy parks with mature trees and you’ll love the walking/bike paths throughout. This home, in fact, is just a [...]

That’s hard to believe but apparently what one ASU economist believes.

Arizona isn’t as bad as the other real estate boom and bust states – California, Florida and Nevada. I bet Arizona will be the first of the four to bounce back economically. For example, after the savings and loan bust in the early 1990′s, Arizona’s economy turned around a year or two before California’s. Click [...]

Visual of the United States unemployment rate by county January 2007 to September 2009.

(via Arizona Mortgage Guru)

That’s something we haven’t seen in a long time. A non-governmental mortgage related company just made it easier for some people to get a loan! (Not in Arizona, unfortunately, but it’s a good new trend anyway.) Governmental and non-governmental lenders have been continuouly making mortgage loans harder and harder to get by increasing the minimum [...]

Good!