As if you needed yet another reason to jump into the Scottsdale real estate market, mortgage rates dropped yet again. The rate for a 30-year fixed mortgage touched its record low this week and the rate on 15-year mortgage hit a new record. The average rate on the 30-year loan declined to 3.49%. The average […]
Scottsdale and Phoenix Leads The U.S. In July Home Price Increase
According to the Standard & Poor’s Case Shiller index, home prices across the nation were up 1.2 percent in July. This study is based on half of the homes in the U.S. It measures home prices compared with those in January 2000 and creates a three-month moving average. The rise in July is the second […]
The Phoenix Real Estate Market is UP! But Up is a Relative Term
Yes, the media has gone gaga, and not just locally, but also nationally about how much the Metro Phoenix (including Scottsdale) market is up year over year. Up is a relative term though. Yes, it’s up 25% roughly at the median and mean price points, but it was also down around 60% so now that […]
Areas of Phoenix with the Most Foreclosures
The Arizona Regional MLS has just released its June report showing the geographic distribution of foreclosures across the valley. The areas with the highest concentrations of foreclosures are shown by large red dots. You can see clearly from the chart below that the majority of Phoenix foreclosures remain in the far corners of the valley. […]
Percentage of “Regular” Sales Increase as Foreclosures Decrease
Normal resales of homes, that are not short sales or foreclosures, currently represent 57% of the market. That is the highest percentage for “Normal Sales” in five years! Foreclosures were dominating the Scottsdale real estate market for many years during the crash. That has completely changed. The number of foreclosures on the market has plummeted […]
Phoenix and Scottsdale Real Estate Market Update – June 2012
New data from the Cromford Report in Arizona has been released. Data clearly shows a decreasing supply of homes for sale, corresponding with increasing home values. Demand for homes has also increased dramatically with the Demand Index almost double the Supply Index. The Demand Index is listed at 112.7 and the Supply Index is 62.5, […]
Thinking of Doing a Short Sale? Better Do It Soon Before Tax Break Expires
A major tax break for homeowners who do short sales is scheduled to disappear at the end of the year. The 2007 Mortgage Forgiveness Debt Relief Act allows homeowners to short sell their home and not pay tax on the amount forgiven. It is scheduled to expire six months from now, on December 31, 2012. […]
Case Shiller Reports Phoenix Home Prices Rising Fastest in Nation
Case Shiller is reporting that the prices of Phoenix homes are rising at the fastest rate of all cities in the US. The average price of a home in Phoenix increased by 2.2% between February and March. That is the largest increase of all 20 cities that Case Shiller monitors. Seattle was second with 1.7% […]
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Voted in the Top 3 Real Estate Agents in Arizona by the readers of Ranking Arizona Magazine, 2015-2025. Her background as an Attorney gives her special expertise with contracts and negotiations. Carmen has a proven track record of success with buyers and sellers in Scottsdale.
