Government-backed jumbo loans can be cheaper and easier to get than jumbos that exceed the $625,500 federal limit Home buyers trying to purchase a pricey property will probably need a jumbo loan—a mortgage that exceeds government limits. But there are different types of jumbos, and some are a little easier and cheaper to get than others. But first, a handy breakdown for those befuddled by the confounding terminology of the mortgage business: Conforming mortgages are capped at $417,000 and backed by … [Read more...]
Experts: 2015 should be better than 2014 for housing
January 14, 2015 by
Metro Phoenix's housing market ended 2014 on a low note with both home sales and prices down. Homeowners, potential buyers shopping for a house and investors are all curious — even anxious — about what could happen this year. The big issues to watch in the Valley are job and population growth, whether the federal plan to lower mortgage premiums spurs more first-time buyers and what big investors with thousands of rental houses do. Nationally, whether interest rates climb, the success of new low-down payment … [Read more...]
Home Prices Edge Closer To Pre-Crash Levels
August 27, 2013 by
-In Arizona, we are still about 30% off pre-crash levels but those numbers are moving fast back in the right direction. Read below for further info on this trend. Home prices keep edging closer to pre-crash price levels and today's Home Price Index report from Lender Processing Services (LPS) indicates that national prices are now backwithin 15.2 percent of that peak. The index for June rose to $229,000 from 226,000 in May, an increase of 1.2 percent and is up 6.9 percent from the end of last year. The … [Read more...]
10 Safest Cities in the U.S. (hint: 2 Arizona cities made the list)
July 29, 2013 by
For the first time since 2006, violent crime was on the rise last year, according to FBI data. But in some cities, violent crime remains well below national averages. AOL Real Estate recently analyzed the FBI’s report on crime to find the cities with populations of more than 200,000 that have violent crime rates “substantially” below the national average. Here are the top 10 “safe zones” that made its list: Irvine, Calif. (ninth consecutive year named safest city in the nation) Fremont, Calif. Plano, … [Read more...]
Vacation Homes Increasingly Enticing for Buyers
May 2, 2013 by
The vacation housing market is looking bright these days in part because of favorable economic conditions, but second-home sellers attribute the increase to strategic marketing as well. “We tell people this is an important investment and not just another toy,” says Peter Colvin, co-developer of Kingfisher Cove, a luxury lakefront cottage community near Saugatuck, Mich. For Colvin, also a longtime investment advisor, you must first create reasonably priced vacation homes, and then convince potential buyers … [Read more...]
