The Phoenix Business Journal reported the other day Metro Phoenix home sales was in a slump in the Spring and early Summer. That's pretty much what a few Realtor friends of mine and I felt. I guess we Realtors on the front lines of homes sales really do feel the housing economy first. But, sales have picked up again in the last 4 weeks or so and that's a good sign. Let's hope it continues.

Pending home sales rose sharply in May, with lower mortgage rates and increased inventory accelerating the market, according to the National Association of Realtors. First Time Home Buyers are still not buying as strong as preferred by most analyst at 27% of the contracts. Pending home sales is an indicator of where the market MAY be going so caution is advised. Western states are fairing better than most others.

It's really nice when you've helped someone find a great home and they appreciate it enough to write a review.

http://www.zillow.com/profile/Chris-F-Campbell/Reviews/?review=816623

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

Arizona's mortgage delinquencies rate falls to 5.18%

Arizona had the sharpest decline in home-loan delinquencies in the U.S. in 2012, pushing its overall rate to slightly less than the national average, according to a report from TransUnion, the credit-reporting and information-management company.

Read the whole story

As delinquencies fall the housing economy will level out.  Contact RooPho Realty if you're thinking of buyer or selling to see if it's the right time for you.

South Mountain, Baseine Corridor Condos and Townhomes

South Mountain area and the Baseline Corridor have many great condo and townhome communities.  Many have views of golf course or the mountains and are close enough to enjoy the hiking and biking available on South Mountain. 

This area is also only about 15 mintues from Downtown Phoenix to the north and Downtown Tempe to the east.  This location makes it great for people who work in the Urban Centers and still want to live in suburbs and close to hiking, biking and other activies in South Mountain Park. 

Some of the communities have 2, 3 and even 4 bedroom homes.  Many also have 1 or 2 car garages and community pools, spas and workout rooms.

Get more informaiton on these and many areas of Metro Phoenix at www.AZNativeProperties.com or Contact Chris F Campbell at Chris@RooPhoRealty.com or 602-224-0554

Fireside at Desert Ridge, Phoenix AZ