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Metro Phoenix’s homebuilding recovery won’t ramp up again until 2015, and then it will play out mostly in the West Valley.
The latest forecast comes from some of the region’s top developers, builders, investors, brokers and analysts at the Scottsdale-based Land Advisors Organization’s annual real-estate conference on Wednesday.
New-home permits will climb as high as 18,000 next year, and the number of homes built in the southeast Valley will decline, Land…Continue
Added by Realty Associated on February 2, 2014 at 9:30am — No Comments
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 6.96 percent of all loans outstanding at the end of the second quarter of 2013, the lowest level since mid-2008. The delinquency rate dropped 29 basis points from the previous quarter, and 62 basis points from one year ago, according to the…
Added by Realty Associated on September 2, 2013 at 10:55am — No Comments
One of the most significant effects of the nation's housing bust has been the swelling ranks of underwater borrowers trapped in homes worth far less than they are worth.
But thanks to sustained rises in home prices, the number of homeowners stuck in the negative equity trap is dwindling. According to analytics firm CoreLogic, 100,000 borrowers edged into the positive equity territory in the third quarter of 2012, adding to the more than 1.3 million borrowers that…Continue
Added by Realty Associated on January 20, 2013 at 11:39am — No Comments
The Consumer Financial Protection Bureau topped off a week of mortgage rule rollouts by launching the agency's guidelines for loan officer and broker compensation Friday.
Among other provisions, the CFPB's final rule keeps originators from steering borrowers into risky and high-cost loans, ends dual compensation from both the consumer and creditor and bans the attachment of mandatory arbitration agreements to mortgage and home equity…Continue
Added by Realty Associated on January 20, 2013 at 11:17am — No Comments
The National Association of Home Builders (NAHB)/First American list of improving markets jumped by a net of 22 metropolitan areas (MSAs) this month, the third consecutive monthly increase in the Improving Markets Index (IMI) which now stands at a total of 125. The index now includes at least one MSA in each of 38 states and the District of Columbia. Last month the index represented 33 states plus the District.
The IMI identifies markets in which there has been improvement…Continue
Added by Marenews on November 7, 2012 at 12:32am — No Comments
CoreLogic has announced the release of its September Home Price Index (HPI) report, which found that home prices nationwide, including distressed sales, increased on a year-over-year basis by five percent in September 2012 compared to September 2011. This change represents the biggest increase since July 2006 and the seventh consecutive increase in home prices nationally on a year-over-year basis. On a month-over-month basis, including distressed sales, home prices decreased by 0.3 percent…Continue
Added by Realty Associated on November 7, 2012 at 12:14am — No Comments
CoreLogic reports that the rate of completed foreclosures in the U.S. continues to drop, with fewer homes entering into the process in September 2012 than in the same month of the previous year. An improving economy may be helping, but experts point toward government programs and banks making it possible for more people to refinance loans, make a short sale or get loan modifications. The states with the most foreclosures include California, Florida and Texas, while those with the fewest…Continue
Added by Realty Associated on November 7, 2012 at 12:00am — No Comments
The 10- and 20-city S&P/Case-Shiller home price indices posted monthly increases for the fifth month in a row in August, according to a reportreleased today.
Seventeen of the 20 metros…Continue
Added by Realty Associated on November 6, 2012 at 9:00pm — No Comments
After raising the question of how the election might impact the housing market’s shadow inventory, it was obvious to see we had touched on a key issue near and dear to many voters’ hearts, minds, and wallets. Responses to the initial installment of our special election series poured in, and while we can only share some of the reactions here, we’d like to thank all of you who took the time to put your perspectives into words and join in the…
Added by Realty Associated on November 4, 2012 at 11:30am — No Comments
If says in the general way so we come to know by the term realty is that it is detachment and the subset of land. We know it very well as the real state property and realty or we can say that it is a fixed and immovable separation of property. Now it is all upon the real estate owner that how they worth their realty and mortgage as a real estate owner you must value your real estate property.By the common low of property authorization…Continue
Added by Samuel Matthews on June 13, 2012 at 12:00am — No Comments
A Camelback Mountain castle that has been a financial nightmare for its owners has sold for $1.45 million.
Robert Pazderka bought the 7,900-square-foot Copenhaver Castle on the southwestern flank of the mountain and expects to spend $3million to $5 million renovating the unusual stone fortress with its secret passages, dungeon and a spa the size of a moat in the living…Continue
Added by Realty Associated on June 7, 2012 at 1:36pm — No Comments
Once-tentative signs of a housing recovery are hardening into a more solid foundation, lifting prospects for a sector that's been a major drag on the economy.
The latest signal came from existing-home sales, which rose 3.4% in April vs. March, according to National Association of Realtors data out Tuesday. While the annualized rate of 4.62 million units was slightly below forecasts, the gains were broad and echoed reports of rising new home sales and construction.
"There is a…Continue
Added by Realty Associated on May 28, 2012 at 11:30am — No Comments
WASHINGTON - -- Confidence among U.S. builders rose to the highest level in five years in May, a hopeful sign that modest improvement in the housing market will pick up.
The National Association of Home Builders/Wells Fargo builder sentiment index rose to 29 in May. That's the highest reading since May 2007 and up from a downwardly revised reading of 24 in April.
The index rose for six straight months…
Added by Lillian Wong on May 21, 2012 at 6:00pm — No Comments
Townhouses and single-family homes are sprouting on old industrial sites in the heart of Southern California cities. In Florida, developers are coveting foreclosed golf courses in urban centers to put up new subdivisions. Builders in Texas are going after available land even near landfills for residential and retail development.
Why are the giants of the building industry, the creators for decades of massive communities of cookie-cutter homes, cul-de-sacs and McMansions in far-flung…Continue
Added by Realty Associated on May 18, 2012 at 10:12am — No Comments
Home builder morale rose to a five-year high in May and is better than it was during the mild winter months, suggesting the recent rally isn't just a weather-related anomaly.
The National Association of Home Builders sentiment index climbed to 29 from 24 in April. Readings for current conditions, the six-month outlook and traffic also rose, nearing or besting winter highs.
In intraday trading, Lennar (LEN), D.R. Horton (DHI) and KB Home…
Added by Realty Associated on May 15, 2012 at 11:24am — No Comments
Delayed mortgage payments are decreasing faster in Arizona than in any other state, indicates a new report.
Arizona delinquencies on past-due home loans fell by one-fourth over the 12 months ending in March, reports credit-researcher TransUnion.
That gave Arizona the nation's best delinquency-improvement rate, though the percentage of past-due home loans here remains above the national average, TransUnion said Wednesday.
Arizona's mortgage-delinquency rate fell to 6.86…Continue
Added by Realty Associated on May 13, 2012 at 1:09pm — No Comments
Mortgage rates are even lower than they were a year ago, falling to an average of 4% from 5%, and has people questioning whether they should take the plunge – even take the plunge again. Experts advise considering the breakeven period in which a lower rate will save money, noting that one of the biggest deciding factors should be the odds on how long a homeowner will stay in the home. Homeowners are urged to use a “Refinance Breakeven Calculator” to determine this point. Other factors…Continue
Added by Realty Associated on May 10, 2012 at 5:04pm — No Comments
As real estate market analysts debate whether U.S. home prices have finally found a bottom, which would signal a recovery is taking hold, some experts are arguing the difference between a home’s price and its value to a buyer. Economists note that homes have historically been poor investment vehicles when considering the alternatives, and that buyers should focus on a home’s value as measured by the quality of life and utility that it delivers to buyers. Deciding this often comes down to a…Continue
Added by Realty Associated on May 10, 2012 at 8:30am — No Comments
NEW YORK (CNNMoney) -- Buying a home may never get any cheaper than this. Several housing experts are predicting that this year will be the last chance for bargain hunters to cash in on the best deals of the weak housing market.
With home prices down 34% nationally since 2006 and mortgage rates at historic lows, homes have…Continue
Added by Realty Associated on May 4, 2012 at 9:30am — No Comments
Where, on November 3rd, will you find 600 of the top thought leaders in the real estate market, as well as the top 25 brokers and the top 50 agents in Arizona? At our Crystal Ball Conference! You won't want to miss this amazing event!
For the first time in history, every major bank, servicer, and asset manager will be participating on a speakers’ panel, sharing their thoughts regarding the future of distressed property in Arizona for the next 12 months.
This is the most…
Added by Realty Associated on October 30, 2011 at 5:20pm — No Comments