Shadow Inventory in Phoenix

Shadow Inventory in Phoenix Shadow inventory is a term we hear often in the world of real estate but many still don’t understand exactly what it means and why it is so significant. In today’s post I”ll attempt to demystify somewhat by answering a few basic questions. What exactly is shadow inventory and why is...

Read more

HARP – Great tasting Irish lager but……….

A few weeks back I mentioned that Obama was planning to expand the Home Affordable Refinance Program (HARP). Well the announcement came out yesterday and it is official. HARP has been extended through 2013 and expanded so that those who are well beyond the old 125% LTV cutoff can now apply. No matter how much value their home...

Read more

Low appraisals holding median price down in Phoenix

Some really good articles in the AZ Republic over the last week regarding the Metro Phoenix housing market and foreclosures in particular. It covered where foreclosures began and a trajectory of how and why they spread. It was interesting to follow the inexorable creep of this economic plague as it started on the fringes in...

Read more

Homeowner Relief? Jobs?

HARP on This Obama is pushing for an expanded federal refinancing plan for homeowners who are underwater. He said it would allow many borrowers who owe more than their house is worth to refinance into a loan with 4 percent interest. It could come in the form of  an extension of the Home Affordable Refinance Plan known as HARP....

Read more

Record Low Mortgage Rates

Average rates for 30-year fixed mortgages fell from 4.22 to 4.12 percent according to Freddie Mac last Thursday. This represents the lowest recorded level since 1971. The 15-year fixed rate dropped to 3.33 percent from 3.39 percent which is the lowest since 1991. The reason for this drop can be attributed to the yield on the...

Read more

10 real estate markets with largest 5-year drop in home values

Real estate markets in California dominate a list of metro areas with the steepest percentage-based decline in home values over the past five years. Data prepared by online real estate valuation and search company Zillow — based on the company’s home-value estimates and its Zillow Home Value Index, which is...

Read more

© 2011-2017Urban Phoenix Homes – All Rights Reserved