NPR reports "Sales Of New Homes Rise Again, Hit Five-Year High"

NPR reported today that home sales are up nationwide 8.3% in June over last year.  This is great for the economy overall.  In the Phoenix market, builders are buying land all over the valley so we can expect many new communities to start popping up.

On the resale market, home values continue to rise in the Phoenix market.  Seller's are putting their homes for sale and getting asking price and sometimes more.  If you price it right for the condition and neighborhood you could sell your home in just days. 

See the Whole NPR Story.

Go to www.AZNativeProperties.com for information on buying and selling your home.

Contact Chris F Campbell for more information.

900 Devonshire Condominiums

 Located just North and East of 7th Street and Indian School, 900 Devonshire is a gated community with 4 floors.  All units are flats and the buildings all have an elevator.

Nice floor plans with 1, 2 and 3 bedrooms.  Some have very large kitchens with a lot of cabinets and counter space.

Some units come with 1 car garages.  The community also has a heated pool, spa and workout room.


Prices continue to be in the low, between $90k and $120k for the 2 bedrooms.

You Tube video for 900 Devonshire

Contact me if you'd like more information.
Chris@RooPhoRealty.com or 602-224-0554

Mortgage interest rate falls to lowest since 1971

Mortgage buyer Freddie Mac says the average rate for the 30-year fixed loan fell to 3.43 percent from 3.54 percent last week. That’s near the 3.31 percent reached in November, which was the lowest on records dating to 1971.

The average rate on the 15-year fixed mortgage dipped to 2.65 percent from 2.74 percent last week. That’s slightly above the record low of 2.63 percent, also reached in November.

Low mortgage rates are helping sustain a housing recovery that began last year. Home sales and residential construction are up, prices are rising and more Americans are refinancing. That’s helped the broader economy.

Check out properties at www.AZNativeProperties.com

New home construction expected to increase in 2013

2012 saw 11,615 new homes started and built in Metro Phoenix, that's more than any year since 2007.  Analysts believe we could see 16,000 homes built this year.

That's no where near the boom of 2005 and 2006 when 60,000 homes where built in each year.  No one really wants to see that happen again.

I like to think the public is wiser and won't let that happen again.

There are some new condominiums being built, Portland 2.  These conominums located in downtown Phoenix, are the only ones currently being built south of I-10. 

There are still many homes on the resale market and they are selling fast.  There are currently about 150 homes and condos on the market in the Downtown and Mid Town area of Phoenix. 

Short Sales are selling more than Bank Owned Properties

If you're in a distressed situation with your mortgage, meaning you own more than it's worth and your payments have gone up, you may benefit from short selling your home instead of letting the bank foreclose.

Banks have finally realized approving a short sale is better for both them and the home owner.  In the past year, banks have been approving short sales much faster and willing to negotiate a little better than previously. 

Approved short sales have gone up 65% over the past year nation wide and is expected to continue. 

If your property is in the foreclosure process and you're not sure what to do, Contact me and we can discuss your options.

Chris@RooPhoRealty.com or www.AZNativeProperties.com
602-224-0554