As reported by the National Association of REALTORS®, the number of Existing Home Sales dipped last month, ending the metric’s 5-month winning streak. Newspaper headlines today are overwhelmingly negative on housing. You’d almost believe this year’s housing recovery had ended. That’s hardly...

Federal Index Shows Home Prices Rising U.S. home prices rose 0.3 percent in July compared to June, the Federal Housing Finance Agency said Tuesday. The index is 4.2 percent below what it was in 2008 and 10.5 percent off its peak in April 2007. The index excludes most expensive homes from its calculations,...

Active listings: 31,293 Pending listings: 13,240 Foreclosures for sale: 4,256 Short Sales: 7,7680

Active (for sale) on Phoenix-wide MLS database - 31,117 Pending (under contract) - 12,994 Sold in the last 30 days - 7,904 Foreclosures for sale - 4,278 Short sales for sale - 7,648

What is a tax credit? A tax credit is a direct reduction in tax liability owed by an individual to the Internal Revenue Service (IRS). In the event no taxes are owed, the IRS will issue a check for the amount of the tax credit an individual is owed. Unlike the tax credit that existed in 2008, this...

General Points to Consider – Buyer and Seller The expiration date of the tax credit is November 30, 2009. Close December 1, as of now, and any qualifying buyer will not receive the tax credit. With the 30th falling on the Monday following Thanksgiving, where possible work towards a closing date of...

Once again, the country’s foreclosures are concentrated in just a few states. As reported by foreclosure-tracking company RealtyTrac.com, more than 50 percent of the country’s foreclosure-related actions in August occurred in just four states: * California : 25.76 percent * Florida : 17.4 percent *...

ACTIVE (for sale) - 31,197 PENDING (under contract) - 12,844 ACTIVE WITH CONTINGENCIES (almost pending) - 6,440 FORECLOSURES (bank-owned) - 4,370 SHORT SALES - 7,615

Mortgage Rates continued their nine (9) day accent posting 375bp for the week. Friday was the only negative day with the FNMA 30 YR 4.5% giving up only 9bp on a quiet day before the Holiday weekend.  The positive gains can be attributed to the negative pull back in the equities market. The DOW gave...

ACTIVE (for sale) = 30,978 PENDING (under contract) = 12,439 ACTIVE WITH CONTINGENCIES (almost pending) = 6,171 FORECLOSURES (bank-owned) = 4,402 SHORT SALE (lender approval required) = 7,455