Scottsdale home loan and sales data for week of 5-27-2011
June 7, 2011 by Eddie Knoell · Leave a Comment
Bullet points for the week of 5-27-11 on the Scottsdale mortgage and real estate update Continuing to see a 3 week trend for lower average listing prices and and lower amount of listing supply. Supply has been falling and in the Scottsdale home market. The longer this trend continues, the more we can depend on [...]
Scottsdale’s Green Building Projects
June 3, 2011 by Eddie Knoell · Leave a Comment
Here is some interesting information about Scottsdale’s green building projects that you may not be aware of: The Scottsdale Fire Station No. 1 and 8. The design of these stations achieves the highest level of LEED green building certification because it uses insulated concrete forms, water reuse, day lighting, and renewable energy systems. The Mushorn [...]
Federal Agency Rules Affecting Arizona Home Buyers
May 21, 2011 by Eddie Knoell · Leave a Comment
Section 941 of the Dodd Frank law requires that lenders must retain a 5% ownership interest when mortgages are packaged and sold to investors. Federal agencies including the Federal Reserve and the FDIC have proposed rules that would waive the 5% on qualified mortgages by requiring a 20% down payment by the borrower. A standardized 20% [...]
National Real Estate Trends and Why Arizona Home Buyers Should Buy Now
May 18, 2011 by Eddie Knoell · Leave a Comment
According to Lawrence Yun, the Chief Economist for the NAR, home sales should continue on the rise through 2012 and interest rates will also rise. Yun expects interest rates to rise to 5.5% by year end and to go up to 6.0% in 2012, which is still historically low. Now is still a great time [...]
Greater Phoenix Area, Arizona 2011 First Quarter Home Sales
May 13, 2011 by Eddie Knoell · 1 Comment
According to the National Association of Realtors (NAR), existing-home sales were up 8.3% the first quarter of 2011. The national median existing single-family home price was $158,700 during the first quarter 2011, down 4.6% from $166,400 during the first quarter of 2010. Distressed homes sold at a discount of about 20% and accounted for 39% [...]
Scottsdale Home Sales April 2011
May 9, 2011 by Eddie Knoell · Leave a Comment
Scottsdale sales prices are up 1.49% for April 2011 compared to one year ago and home sales rose 11.1% from March 2011 to 481 according to MLS data. Homes are selling on average within 93.7% of their list price. Sellers are pricing their homes to sell and are extremely motivated. Now is a great time [...]
