How will the government shutdown be affecting the Scottsdale real estate market? Not much, if at all, assures the U.S. Department of Housing and Urban Development (HUD). Originally, the agency reported that any loans backed by the Federal Housing Administration (FHA) would not be processed for the duration of the government shutdown. More recently, however, […]
Phoenix Home Prices Approaching Levels Seen in 2004
If you bought any Scottsdale real estate before 2005, you may be pleased to find out that the value of your home is approaching what it was when you bought it. Phoenix home prices have been continuously rising. Though they have not yet peaked, Phoenix home prices have nearly reached pre-2005 levels. The Federal Housing […]
All-Cash Sales Gain Prevalence in Scottsdale Real Estate Market
Scottsdale is a popular city for investors, snowbirds, retirees and other wealthy homebuyers. Because of its resort atmosphere and abundance of luxury homes in a unique desert atmosphere, the Scottsdale real estate market has always attracted affluent full-time and part-time residents. Many Scottsdale home purchases have been made mortgage-free. Today, the number of all-cash home […]
Scottsdale Foreclosures Continue to Decline
A drop in mortgage delinquencies equals a drop in foreclosures, and the number of mortgage delinquencies in Scottsdale is plummeting. Scottsdale foreclosures are becoming few and far between. The Arizona market has shown significant improvements as far as mortgage problems go, more so than in other states. The mortgage delinquency rate in Arizona took a […]
Why Canadians are Investing in Scottsdale Homes
The recovery of the Scottsdale real estate market has been fueled largely by foreign investors, especially those from Canada. Data recently released by the National Association of Realtors (NAR) shows that in May, individual investors were responsible for 18 percent of Scottsdale home sales, and in 2012, one out of every four home sales was […]
Scottsdale Market Improves, Fewer Homeowners Underwater
The Scottsdale market is continuing on its steady recovery. Across the Phoenix area, a smaller number of homeowners are underwater on their mortgages, and prices of homes are soaring upward. This, of course, includes the prices of Scottsdale homes, which are some of the most popular on the market. Figures from Zillow Inc. show that […]
Scottsdale Foreclosures Down Substantially
The Scottsdale AZ real estate market is beginning to reach levels of normalcy, especially when it comes to foreclosure rates. According to The Cromford Report, the number of pending Scottsdale foreclosures, as well as the current REO inventory, is down significantly from that seen around this time in 2011. At the same time, prices of Scottsdale homes continue […]
Scottsdale Mortgage Rates Climb According to Freddie Mac Survey
Scottsdale mortgage rates have recently been kept low to encourage home sales and boost the economy. Now that sales are up, household debt is down and the real estate market is gaining speed every day, we are beginning to see a continued increase in the average mortgage rates. Though the rise is small, Scottsdale mortgage […]