When will expanded federal refinancing program be launched……
T his week, more questions and concerns about metro Phoenix’s housing market. Question: Concerning HARP. Last I read, it was on hold awaiting more information. Have you heard anything lately about when final details will be release to the public? – AZBoomer1947 Answer: There’s still no word on the federal government’s expanded HARP, Housing Affordable Refinancing ProgramI have received dozens more emails since I last wrote about the program, which is supposed to let many of the state’s homeowners refinance, no matter how underwater they are on their mortgages. In November, U.S. Department of Housing and Urban Development Secretary Shaun Donovan said the expanded … read the rest of this...
Phoenix pet foundation for animals left in foreclosure homes
A few years ago, Phoenix mortgage broker Jodi Polanski began hearing heart wrenching stories from real estate agents about pets abandoned in foreclosure homes. The agents would call the lender or property management firm taking care of the house, but little was being done to help save the cats and dogs left behind. Some agents couldn’t even get in the properties if they heard a pet barking or meowing because they didn’t have keys if the house hadn’t yet been listed for sale. Polanski, who already did some volunteer work with pet rescue groups, took action. She formed the non-profit Lost … read the rest of this post
Phoenix housing analyst disagree's with Forbes Magazine's market report
F rom Phoenix housing analyst Mike Orr of the Cromford Report: " Another media article with a very misleading view about Phoenix home prices can be found here: Cities with Dangerously Falling Home Prices. Sourced from Forbes Magazine, It claims that the home price drop for the Phoenix/Mesa/Scottsdale MSA from October 2010 to September 2011 was -13% and that prices will change by another -3.3% through 2012. It quotes the average price as $152,000. Well the monthly average price for all areas & types in ARMLS at the end October 2010 was $162,904 and at the end of September 2011 it was … read the rest of this post
Phoenix still in top 10 for home building
R ecently a national real estate analyst said metro Phoenix remains in the top 10 U.S. cities for home building. This despite only 5,800 single-family permits issued across the region through October, according to the latest Phoenix Housing Market Letter. Home builders and new home buyers current pace put the market on track for about 7,000 new houses in the Phoenix-area this year. Atlanta and Dallas are experiencing similar home building production. Houston leads the nation with at with more than 20,000 new homes going up there this year. No one is quite sure what’s going on in Houston. Home builders in metro … read the rest of this post
Metro Phoenix home prices climb in November
I n August, as metro Phoenix home prices dipped to another new low, some real estate analysts predicted the area’s home values would keep falling. Other analysts disagreed, saying all the indicators, besides home prices, were heading in the right direction for values to climb before year’s end. The median sales price for an existing Phoenix-area home climbed to $119,900 in November, according to a new report from the Information Market. It’s the region’s highest median home price since November 2010. In October, Phoenix’s median home price was $115,000, which is where it had hovered most of the first half of this year. … read the rest of this...
Fannie Mae foreclosure moratorium to begin soon
G overnment-owned Fannie Mae says it will suspend foreclosure evictions during the holidays, from Dec. 19 through Jan. 2, 2012. Fannie and Freddie Mac did something similar last year, but it seems like it was for the entire month of December…hmmmm “The holidays are meant for families to spend time together, especially if they’ve gone through the stress of financial challenges and foreclosure,” Terry Edwards, executive vice president of Credit Portfolio Management for Fannie Mae, said in a statement. “No family should have to give up their home during this holiday season.” Although the foreclosure process can continue during this time, Fannie Mae said there … read the rest of this...