Tag Archives: balanced market

FHA to lower cost of mortgage insurance

In an effort to make owning a home more affordable, the Federal Housing Administration will dramatically cut the costs associated with the mortgages it backs. Premiums for FHA mortgage insurance, which is designed to protect the agency in case a borrower defaults on a loan, will be cut from 1.35% of a loan’s value to […]

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Pause in Valley Housing Market

The Phoenix area housing market posted it’s worst February in four years and home prices may stay flat throughout 2014, according to Arizona State University’s latest housing report last week.  Despite the fact that substantially more homes were on the market than a year earlier, prices slipped by 1% from January and demand dropped by […]

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Real Estate: Look for Value in 2014

The good news for housing in 2014 is that price gains are expected to be only about half as strong as in 2013, when inventory levels created a market tipped in the Sellers’ favor.  For a sustainable recovery, David Stiff, chief economist at CoreLogic Case-Shiller says that a more balanced market between buyers & sellers […]

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Still a Seller’s Market? Not for Long!!!!

According to Michael Orr of Arizona State University WP Carey School of Business, at an ARMLS “Engage” Conference held yesterday in Phoenix, we will reach a balanced market in exactly 9 days.  By balanced market he means neither a Buyer’s nor Seller’s market.  As a statistician who tracks daily sails trends, he has noted the […]

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Is the Phoenix Housing Finally Back to Normal?

According to Arizona State University, the Metro Phoenix Housing Market finally has the appearance of being more “normal”, with rising home prices, waning investor involvement & dwindling foreclosures & distressed properties across the Valley. After many months of chronic shortage of available inventory, it is even looking like a more balanced market as well, with […]

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Mortgage Rates, Low Inventory Greatest Obstacles for Homebuyers

According to Redfin, 53% of home buyers say that rising mortgage rates are one of their major concerns with buying a home right now. However, low inventory continues to be the chief concern at a whopping 58%. Buyers still are quoted as saying it is a good time to buy and feel that the nation […]

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US Home Prices Have Highest Increase in 7 Years

The National Association of Realtors announced a 9.3% gain in US home prices in February of this year as compared with a year ago, driven by increased number of buyers and a decreasing inventory of available homes to purchase.  Increasing employment & near-record low mortgage rates are keeping demand for home buying high, helping sustain […]

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