Tempe Townlake Condos

Tempe is such a great place to live especially near the Town Lake.  Currently there are only 45 condos for sale near the lake.  That tells you how popular the communities are.  Below are just a few examples of the communities and views you can have in Tempe. 

Go to AZNativeProperties.com and check out all the great communities Tempe has to offer.

Contact RooPho Realty for a complete list of all Condos for sale in Tempe and an appointment to see some of them.

Bridgeview Condos on Tempe Town Lake

Brownstones at Hyde Park

North Shore on Tempe Town Lake

3% Mortgage Interest Rates are going away

As we say good bye to all but free money with interest rates below 3%, we have to start getting use to the rates going up into the 4% range and maybe higher.  But let's remember the past.

Prior to 2003, higher mortgage interest rates were the norm. In the early 1970s, rates hovered in the 7-percent range and spiked up above 9 percent in late 1975, late 1976 and most of 1978. At the end of the decade and throughout the 1980s, mortgage interest rates rarely dipped lower than 10 percent.
In the early 1980s, mortgage interest rates brushed the stratospheric highs of 18 percent and even 19 percent. Imagine trying to get a home loan with an interest rate of 18 percent.

During the 1990s, mortgage interest rates ranged from around 7 percent to roughly 9 percent for many years.
Source: Bankrate.com

Metro Phoenix median home-sales price up 60% from market low.

Metro Phoenix’s median home-sales price climbed to $181,399, an almost 60 percent increase from the real estate crash’s low price in August 2011.

The main reason for higher home sales prices is the chronic shortage of available houses for sale in the Phoenix area, he said. The number of houses listed for sale in the region fell 7.3 percent in April.

Because of rapidly rising home prices, some market watchers are concerned that many investors who bought inexpensive short sale and foreclosure homes and turned them into rentals during the past few years, will try to resell those homes now and create a bubble of oversupply.

“Some commentators talk ominously of a bubble bursting when these homes come back onto the market,” Orr said. “Such talk gets a lot of attention because we are over-sensitized to bubble talk after the disruptive events of 2004 to 2006.”

He said even if all the big investors put their homes on the market next month, that would only add 10,000 to 11,000 houses to the number of listings, and the Valley’s market would still be undersupplied based on demand.

Contact Chris to buy or sell a property.  www.AZNativeProperties.com

By Catherine ReagorThe Republic | azcentral.com  Mon Jun 10, 2013 5:26 PM

RooPho Realty June 2013 Newsletter

Here is June 2013 RooPho Realty Newsletter

Also, check out http://www.aznativeproperties.com/

Things you should know before buying a home.

I just saw this on CNN Money and thought they were good suggestions. 

The top 10 things you need to know when buying a home.

http://money.cnn.com/magazines/moneymag/money101/lesson8/index.htm

If you have any questions about these or anything else about buying or selling a home, contact me.

http://www.aznativeproperties.com/  or 602-224-0554

Are interest rates going up?

Will rates rise or remain relatively unchanged? Experts and Bankrate analysts predict where mortgage rates are headed over the next week.This week (May 30-June 5), 40 percent of the panelists believe mortgage rates will rise over the next week or so, 40 percent think rates will fall, and 20 percent believe rates will remain relatively unchanged (+-2 basis points).

Sounds like a tie doesn't it.  The word on the street is rates are going up, we just don't know how fast.  Values are still going up and in some areas faster than others.  Contact RooPho Realty for more information.