When can you buy again after a short sale or a foreclosure?

Most banks won't approve you for a mortgage for 2 years after a short sale and 3 years after a foreclosure.  Many people who had these issues a fews years ago can now consider buying a home.  If you fall in this cateogry, call me and I'll help you determine if this is a good time for you.  Prices and interest rates are still low but slowly going up.  Now can be a great time to buy a home.

Residential Real Estate inventory on the market continues to decrease

As the residential inventory continues to go down, property values go up.  At the same time interest rates are sneeking up.  It's still a really good time to buy. 

A couple years ago, Bank Owned and Short Sales were really not much less expensive then anything else, but now they seems to be some of the best buys on the market. 

www.aznativeproperties.com

Phoenix area home prices increased by 22.7%

Home prices in the Phoenix area increased by 22.7 percent in January making it the largest increase in the nation. CoreLogic’s report released today says the change represents the 11^th consecutive month of national price increases. Mark Fleming, the chief economist for CoreLogic, says this is a sign the housing market is gaining momentum, and will enter the spring selling season on sound footing.  Post on KJZZ.org, By: Kendra Worsnup on 03/05/2013

Information on Metro Phoenix properties at www.AZNativeProperties.com

Artisan Village Condo For Sale

 There aren't many properties like this in downtown Phoenix.  This condo has just over 1600 square feet, 2 master bedrooms, 2 walk-in closets, 2 car garage and 2 private courtyards. 

Artisan Village has a heated lap pool and dog park. 

Located in the Roosevelt Row Arts District with easy access to the freeway system and walking distance to the light rail and everything in Downtown.

Contact Chris@RooPhoRealty.com

 More information at RooPho Realty.

New Listing at Fontenelle Lofts

This is a great listing and sure to fit the taste of many Urban Dwellers.  Check out Fontenelle Lofts at 3rd Ave and Roosevelt.  This building was built in the 1930's and restored in 2004.  This unit is all new in '04 and located above the garages and contains many of the features of a true loft.  There are 2 bedrooms and 1 bath and the whole unit has a lot of windows with high and exposed ceilings.  This unit has a 1 car garage and a 1 car covered space. 

Accross the street is the Gold Spot shopping corner with Lux Coffee and Pita Jungle.

See the full listing here.  Then contact me at Chris@RooPhoRealty.com or 602-224-0554 to see the property.

More information on Urban Real Estate is at www.AZNativeProperties.com

Real Estate Economy getting better

A good indicator that the real estate market is getting better are the number of building permits filed by builders.  2013 is off to a good start with the greatest number of permits in January since June of 2008.

Permits are a sign that builder's are more confient in the market and will start building again.  Nationally permits are up 2% over December 2012 but 35% over January 2012.

The market continues to get better nation wide with Metro Phoenix leading the pack.  The median value of a home in metro Phoenix went up almost 16% in 2012 while homes sales went up 34%. 

The overall value of single family homes in Maricopa county was $127,000 in 2012, up from $109,000 in 2011. 

These are all good signs the housing economy is improving and it's the right time to buy.  Contact me to see if it's the right time to buy for you.  www.AZNativeProperties.com or 602-224-0554

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.