Tag Archives: first time buyer

Another Rate Hike in the Future???

Many in the mortgage industry were anxiously waiting to view the results of the final jobs report of 2015 to see if the Federal Reserve was on track with the timing of its long-awaited December rate hike or if the central bank acted too quickly. The Bureau of Labor Statistics (BLS) reported better-than-expected job gains […]

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Why new slow-it-down mortgage rules may be a good thing…

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Catherine Reagor, The Republic | azcentral.com 1:28 p.m. MST October 8, 2015 If you are looking for a house now, it’s likely going to take a little longer to get a mortgage to buy it. The expected delay is due to a new federal rule that’s supposed to give consumers more protection when they are making one of their […]

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TRID: Into the Great Unknown

Amid all the consternation about the looming TILA-RESPA Integrated Disclosure (TRID) Rule effective date of October 3, one analyst believes that the biggest unknown about TRID is just that—unknown. Until October 3, buyers will use the HUD-1 Settlement Statement containing a good faith estimate for closing the loan that has been in use for 40 years; […]

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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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Distressed properties are on the decline in Phoenix | HousingWire

Distressed properties are on the decline in Phoenix | HousingWire. Though there are still advertisements saying thousands of lender-owned properties are going to flood the market, that is definitely not the case for the Greater Phoenix market. Sure, there was a flood of cheap properties at one point in time, but that time has passed.Lenders […]

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Buyers Who Can Profit from Today’s Market

There are 4 types of buyers who are the best candidates to profit from today’s market conditions: Move Up Buyers:  Buyers selling smaller homes and moving up to a larger, more expensive property can more than recover any losses they get from selling with the savings they’ll proportionally receive when they buy a more expensive […]

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Phoenix Home Sales Median Price Continues to Increase

http://www.azcentral.com/business/articles/20130503phoenix-home-sales-median-price.html Metro Phoenix median home sales price rose to $175,000 in March, a 3% increase from February marking a 30% increase over the last year.  Prices are expected to continue to increase, at least until June which is our traditional peak buying season in the Valley.  However, prices still haven’t increased enough for many homeowners […]

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Market Recovery Driven by Investor or Non-Investor Homebuyers????

The Campbell Housing Pulse Tracking Survey shows that the Investors, who have flooded the market in the past year, are not the only Homebuyers showing a strong presence in the non-distressed property market.  In March of 2013, at over 36%,non-investors purchased over 3 times the number of non-distressed properties than investors.  Another interesting statistic is […]

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Optimism Among Homeowners Continues

http://www.dsnews.com/articles/gallup-more-americans-expect-to-see-prices-rise-2013-04-22 A recent Gallop pole confirms that more Americans expect home prices to rise in their areas for the first time since 2007.  :ast year only 33% felt that optimism which is a testament to the visible recovery in the housing market in 2013.  Residents in the Western states show the most positive outlook where […]

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Valley Projected Population Growth Helps Housing Market

Population growth is a main driver behind metro Phoenix’s housing market. An optimistic estimate on the number of people who could move to this state in the next decade or two to be close to what the Valley enjoyed before the 2006-2008 “bust” in our housing market & overall economic downfall. A panel discussion on […]

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