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.

Nationwide home prices went down from Nov 2013 to Dec 2013.

CHRISTOPHER S. RUGABER
AP Economics Writer

U.S. home prices slipped from November to December, and the year-over-year increase slowed, likely a result of weaker sales at the end of last year.

Real estate data provider CoreLogic says prices dipped 0.1 percent in December. It was the third straight month-to-month drop. Home prices had risen for eight straight months through September.
For all of 2013, prices rose a healthy 11 percent. That was roughly equal to the 11.4 percent price increase for the 12 months that ended in November.

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.

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.

Is the housing market heading for another bubble?

Home prices have increased 8% in December 2012 compared to December of 2011.  Home sales have also increased over last year.  This is giving many the confidence to sell and move up before values get too high or interest rates go up. 

Investors continue to buy up distress properties in hopes of flipping them and making a big profit.  Many homes on the market are price high at first and then some have to reduce the price to get an offer.  On the other hand, properties that are priced right can go for over asking price when speculators feel the values are going up.

So, can we be headed for another bubble?  It's hard to say and although home prices are still very low compared to 2008 when they hit a peak, values are going up fast just like before.

"I would say we have a housing bubble again," said David Stockman, former director of the Office of Management and Budget under President Reagan, told Yahoo! Finance, who recently has been working in the private equity sector. "We don't have a real organic sustainable recovery because, in a world of medicated money by the central bank, things aren't what they appear to be. ... It's happening in the most speculative subprime markets, where massive amounts of 'fast money' is rolling in to buy, to rent, on a speculative basis for a quick trade. And as soon as they conclude prices have moved enough, they'll be gone as fast as they came."

Safari Drive Community, Scottsdale AZ

 Safari Drive Commuinity are located on the northside of the Camelback Road and just east of Scottsdale. 

Safari Drive community has a beautiful Zen Garden and heated pool.  Floor plans range from 900 square foot 1 bedrooms to 3000 square foot 2 bedrooms. 

Kitchens are upgrade for your best home cooking.  Nice large windows for great light and views.

If you enjoy the location and are looking for something a little different in size or style, contact RooPho Realty for Realtors who specialize in urban condos.

RooPho Realty also works valleywide for single family homes, townhomes and condos.

Contact us at www.AZNativeProperties.com or 602-224-0554.

Bridgeview at Hayden Ferry Lakeside, Tempe AZ

140 E RIO SALADO PKWY 702
Tempe, AZ 85281

 Bridgeview at Hayden Ferry Lakeside is a wonderful luxury condo building with many amenities and the best one being the location.  It overlooks Tempe Townlake and is walking distance to Tempe Mill Ave and all the entertainment and shopping it has to offer. 

The community is complete with a heated pool, community room, billards, theater room, work out room and fantastic views.

It's also just minutes from Sky Harbor Airport and Downtown Phoenix.

 If you're interested in condo living anywhere in Metro Phoenix, you need a Realtor who specializes in high rise and condo living.  RooPho Realty was established to serve the urban community.

Along with condos, most historic districts are also located in the Urban Centers of Metro Phoenix, so we also specialize in single family homes located in the Metro Phoenix Historic Districts. 

Contact Chris F Campbell at Chris@RooPhoRealty.com or 602-224-0554 for more information.