FHA 203(k) Loans Offer Way to Finance Repairs for Foreclosures

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FHA’s 203K  loan program is designed to finance the purchase and renovation a home, all in one loan. Purchasing foreclosures also means discounts, but with the markdown is the price of repairs. According to RealtyTrac, foreclosures or REOs sold at an average discount of 27… 
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Bargain home prices still available

Bargain Home prices will not get much cheaper than they are right now. Several housing experts are predicting that 2012 will be the last chance to cash in on the best deals of the weak housing market. Homes have never been more affordable…. but it… 
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BofA Plans to Speed Up Short-Sales Process

Bank of America Short Sale

Bank of America wants to speed up the process of selling thousands of distressed homes by implementing changes to its short-sale procedures that will shorten decision times on short sale offers to 20 days, down from 45 days or longer.

Beginning Saturday, April 14 Bank of America will be ready to approve short sales in 20 days.

Foreign Investors Snapping up Bargain Priced Arizona Homes

A growing number of cash-rich foreign investors are seizing the opportunity to snap up U.S. homes at bargain prices.

Not all U.S. markets are universally appealing to out-of-country investors. International homebuying activity is largely concentrated in a few areas of the country. Using public record data compiled by San Diego-based real estate data analysis firm DataQuick, Inman News has identified the 10 most popular areas in the U.S. for foreign homebuyers.

Surprising Early Rebound for Phoenix Housing

iStock Housing Market Chart

As home prices continue to drop in most cities, and the  real-estate rebound here in Phoenix holds lessons for the rest of the country. This sprawling desert metropolis was one of the hardest hit housing markets during the bust.Phoenix home pricesdeclined 55% from 2006 through… 
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Wells Fargo Providing Help to Phoenix Homebuyers

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Wells Fargo is making an $8 million investment this year to cover down payment assistant grants and homebuyer support programs.

Phoenix is the third market to obtain assistance from the NeighborhoodLift program.

Pulling enough money together for a down payment is often a sticking point for aspiring home buyers.

Help may be at hand
For a limited time, if eligible, you can receive up to $15,000 for down payment assistance for the purchase of a primary,
owner-occupied residence in the city of Phoenix. This program is fully forgivable after you live in the home for five years.

Phoenix-area Homebuyers Squeezed out by Investors

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by Catherine Reagor – Mar. 10, 2012 Arizona Republic / AZcentral.com Many potential homebuyers who sat on the sidelines watching metro Phoenix’s house prices fall during the past five years are back in the market, ready to take out a mortgage and move in. But… 
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Arizona Foreclosure Filings Dropping, Inventory Shrinking

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A total of 8,749 Arizona properties had a foreclosure filing in January, down 44 percent from January 2011. According to RealtyTrac, a “foreclosure filing” is any one of the following foreclosure-related events: A default notice on a home A scheduled auction for a home A bank… 
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The cost of a new home may never be as low as it is today.

New Home Construction

Housing Starts are rising and Homebuilder’s confidence is rising as foot traffic increases through their model homes and sales offices.  What this translates into is expect new home prices to rise. A “housing start” is a new home on which construction has started. Here in… 
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Will You Be Impacted By The New 3.8% Tax When Selling Your Home?

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A guest column written by Paul Guppy of the Washington Policy Center regarding the impact of the health care bill hit the Internet recently and became viral.  In the column Paul claimed that a 3.8 percent tax on all home sales was a part of… 
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