Phoenix Area Real Estate Blog

As a guideline for sellers in the past, wondering about the impact of a short sale versus foreclosure on their credit report, I would start by talking about the impact of having 30-, 60-, and 90-day late notices appear on their credit report. A 90-day late is a very bad thing and indicates to [...]

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Yesterday I wrote about Months of Supply, to get you ready for today’s topic (and you are a subscriber, right?). With months of supply in mind, recently I’ve begun to look more closely at certain price range bands for different parts of the Valley, and some interesting things popped out.

City
Price Range
Homes Listed for Sale
Sold [...]

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We currently have 4 short sale listings in escrow. Actually, that might be an exaggeration. We have offers on 4 short sales listings, but the banks have yet to approve them. In some cases, we have escrow paperwork started with title companies, but in other cases we don’t. I tend to [...]

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I’ve mentioned seller carry-backs now and again, but it’s time to dedicate an entire post to the topic.  First, the basics, what is a seller carry-back?  A seller carry-back is when the seller agrees to act like a bank, and provide a loan to the buyer for some, most, or even all of the purchase [...]

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Just announced, the new maximum FHA Loan amount is $346,250.
Read that again, in case you need to take a second to digest it.  That first digit is indeed a 3.  With a 97% loan, that means a purchase price of $356,900 is now possible.  That’s right, a home listed at $350k, can now be purchased with [...]

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It was reported on CNBC today that Bank of America is looking to buy Countrywide for $4 Billion.  Countrywide has already laid off 11,000 workers and there are certainly more to come.  The markets seem to be responding positively to this and mortgage pricing has improved slightly across the board.
Prognosticators that believe the US has [...]

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I’ve kept track of my favorite Do’s and Don’ts over the years of things you should and shouldn’t do, between the time you apply for a mortgage and the time you close on that mortgage in your new house:

Don’t apply for new credit.  Every time you have your credit pulled by a potential creditor you can [...]

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