As a reminder, Fannie Mae is rolling out new lending guidelines Tuesday, September 1, 2009. Starting next week, being approved for a home loan could be much more difficult. The new rules mark the first major underwriting update since April of this year.  The changes are mostly geared at fraud prevention. Among...

Sold properties are on the rise - and so is the average price!  Does this mean the worst is behind us and the bottom has come and gone? Leave a comment!

ACTIVE (FOR SALE) - 31,384 PENDING (UNDER CONTRACT) - 12,882 FORECLOSURES (BANK-OWNED) - 4,526 SHORT SALES (or pre-foreclosures) - 7,625

What is REALLY going on with Phoenix area real estate?  Here are the statistics as of 8/17/2009 - Properties For Sale in Phoenix-Metro area: 31,383 Lender Owned (foreclosures) for sale: 4,631 Short Sales for sale: 7,364 Properties under contract: 12,602 - 18,641 if you count those still in their inspection...

ACTIVE (for sale) listings are down, SOLDS are up - that spells a correction in inventory level and a fairer supply vs. demand market. Most telling is this chart that shows our extreme buyers market in 2007 with 13 months of inventory on hand: AKA lots of homes to choose from. According to this chart...

Foreclosure-tracker RealtyTrac reports that the number of foreclosures nationwide rose 7 percent on a month-to-month basis last month. However, 3 states dominated the foreclosure list, tallying more foreclosures between them than the rest of the country combined. California : 30.0 percent Florida :...