Arizona Real Estate Notebook

Q: Did the Fed do anything else Wednesday? A: Yes, it said it will reinvest the proceeds from its $900-billion portfolio of mortgage-backed securities into new mortgage-backed securities. That is also intended to keep mortgage rates low. Detroit Free Press More Money Chasing Houses The Fed announced today that they would start buying mortgage backed [...]

Phoenix Home Sales Metro Phoenix single family home sales (blue line) in August (7,450) were the most sold in any August since August 2005, the boom year for home sales. Phoenix Housing Inventory The inventory of homes listed for sale in metro Phoenix (red line) continued to fall. The unusually high number of home sales [...]

I’ve been wanting to write a series of posts about why Phoenix real estate prices will start increasing in 2012 and the Phoenix economy will be hot (relatively) in 2013. I think this guy is on the right wavelength about the end game for Phoenix real estate market. The Probable Sequence of Events of the [...]

The FHFA, overseer of the government-sponsored enterprises, filed suits against 17 major banks and scores of individual executives, alleging they knowingly falsified the quality of mortgage-backed securities sold… I concluded years ago that the fraud was an open secret in the industry. The industry was making incredible amounts of money. No one wanted to blow [...]

Sometimes you gotta go to England to get the scoop on what’s happening in the United States. US authorities are preparing to sue more than a dozen big banks over claims they misrepresented the quality of mortgages sold during the 2006-7 housing bubble. I’m betting the Fed and Treasury are not on board with these [...]

I bet the National Associaton of Realtors is pimping the heck out this housing refinance program with all the new lobbying money they’re forcing Realtors to pay. Hey NAR, if you want a long-term stable real estate market, stop it with the temporary programs, they just disrupt the market and delay the recovery! I think [...]