Builders, mortgage analysts and economists say in a survey being released today that the poor economy will continue to hurt housing prices, the Wall Street Journal is reporting.
The Journal reports the economy’s impact on housing will be felt for years. Home prices are anticipated to drop 2.5 percent this year, according to the Journal, and rise 1.1 percent through… Continue reading
An agreement for the Arizona Association of Realtors and its member groups to buy the Arizona Regional Multiple Listing Service, (ARMLS) is on hold. The deal would have given Arizona the largest statewideMLS in the country. But after a year of research and surveys to members to see how it could work, the Southeast Valley Realtors Association voted against it.… Continue reading
Many Maricopa County homeowners were pleased to recently see a small drop their property taxes since their home values have plummeted during the past five years. However, not all homeowners were happy.
An Arizona Republic story that ran Aug. 30th reported metro Phoenix homeowners could expect to see their tax bills fall an average of $60 from last year. Homeowners… Continue reading
It could be the heat or the economy, but August wasn’t a great month for metro Phoenix’s housing market.
After a few months of record sales, small price increases and drops in foreclosures, many of those key market indicators reversed their course last month.
Lenders started foreclosure proceedings on a 1,000 more homeowners in August than it did in July.… Continue reading
Recent reports say foreclosures are declining in metro Phoenix and large numbers of homes are selling.
But many homeowners feel trapped in houses they can’t sell.
Some real-estate agents can’t find enough new listings to keep up with demand from buyers.
But others say there aren’t enough buyers, and homes are selling too slowly.
The housing market in metro Phoenix… Continue reading
Arizona dropped of the top 5 list of state’s with the highest number of foreclosures.
New data from the Mortgage Bankers Association show’s Florida is no.1 with 14.4 percent of all foreclosures. Nevada is no. 2 with 8.2 percent. Then comes New Jersey, Illinois. <Maine and New York are tied for the fifth highest rate of foreclosures.
Foreclosures have been… Continue reading