I received an email from a lender that I work with. Based on that email, any FHA loans utilizing down payment assistance have to be closed by mid-September even though the cut-off based on the legislation was indicated as October 1. In th...
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We see the use of FHA in contracts to a substantial degree now. This has really taken off since the local Phoenix real estate market was designated a 'declining market,' which raised the level of down payment required to purchase a home when fi...
378 Views, 0 Comments.
We haven't seen much use of an escalator clause in a real estate contract in the last few years. In the market run-up when sellers were selling and higher and higher values, realtors used these regularly. However, they didn't make mu...
806 Views, 0 Comments.
We have a lot of short sales in the Phoenix housing market today. Many of these are driven from the fact that poor economic circumstances have caused the loss of jobs or other hardships and the homeowner simply cannot keep up with the mortgage ...
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There has been a lot of attention on the housing bill that was just signed into July 30. One focus has been the elimination of down payment assistance, a convenient way for buyers to get sellers to contribute money toward the buyer's down...
309 Views, 0 Comments.
I have been helping some clients purchase a wonderful home and buy in a custom neighborhood in South Chandler. The home is a short sale and is heavily discounted from its market high of $1.1M. It's a fantastic property that has a lot of p...
351 Views, 0 Comments.
I visit the Houston area about once a year and this time was thinking about how their housing market has not been affected like the Phoenix market in terms of hyper appreciation and resultant strong decline. The circumstances that were present in Pho...
339 Views, 0 Comments.
I was interviewed this week by reporters from Yomiuri Shimbun, the premier newspaper in Japan and the world's largest with 14,000,000 subscribers. The interview revolved around how the real estate market in the U.S. was doing and credit co...
297 Views, 0 Comments.
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