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Median homes prices are up
The good news this month in metro Phoenix housing is that the median new home price for the month rose to $197,948 from last month’s low point of $183,750 which matched prices in the summer of 2004. Certainly one month doesn’t confirm a change in the trend of sliding median new home prices, but a [...]
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For the first time in five years, existing-home sales have increased for four months in a row.
The national median existing-home price3 for all housing types was $178,400 in July, which is 15.1 percent lower than July 2008. Distressed properties continue to weigh down the median price because they typically sell for 15 to 20 percent less than traditional homes.
Single-family home sales increased 6.5 percent to a seasonally adjusted annual rate of [...]
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View Larger Map
Leave it to google to show us from a birds eye perspective the amount of foreclosures our country has. Click here if you really want to see how we compare to the rest of the country.
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July 09 Stats
Well my buddy RL at www.rlbrownreports.com has his newest reports out. The number of new home permits is up as well as the number of sales for both new and resale homes. What’s driving this? It’s the investors coming out and snapping up the foreclosures as fast as they can. Nearly every offer I made [...]
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The Phoenix Real Estate Market is shifting quickly. Check out the number of listings (blue) VS. the number of sales (black). During the months from March to April you will see a dramatic drop in the inventory available. The numbers are not out yet, but based on the number of pending sales, the drop will [...]
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REO Sales are Dropping
Hey Scott, what is the percentage of resale and REO home sales in Phoenix? That’s a great question, and here’s the answer. Resale homes sold 1% more than last month.
The Phoenix Market is changing. This is a great way to see visually the change in REO Sales. Since January of this year (‘09) the number [...]
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President Barack Obama signed the American Recovery and Reinvestment Act of 2009 into law on February 17, 2009. The bill calls for a tax credit of up to $8,000 for
First Time Home Buyers, who purchase their first home between January
1, 2009 and December 31, 2009. The actual tax credit is for 10% of the
home’s value [...]
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What did I say earlier?
This report below shows what I’ve been saying. Now is the time to buy. The market has shifted in an upward direction. How long before investors realize they missed the bottom they’ve been looking for. (see my earlier post)
Existing-Home Sales Show Strong Gain
In December
WASHINGTON, January 26, 2009
Existing-homesales rose unexpectedly while inventory declined, led by [...]
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The Point of Realization
Strange as it seems, just three short years ago buyers couldn’t stop making multiple offers on homes as the prices kept going up and up. Fast forward to 2008 and now prices have dropped lower than 2003 levels. The real investors waited and are now buying in not a sellers market, but in a buyers [...]
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Tags: housing prices, investors, Phoenix housing Market Statistics, phoenix market, Phoenix Real Estate
The graph below is the rate in which the values in Arizona have appreciated over the past 33 years. Everyone keeps wondering when the bottom is coming. You can clearly see from this we most likely have reached the bottom. When people ask me when will the bottom come, I always tell them this, “When [...]
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