Archive for September, 2009
Condo Purchases Require Extra Steps
Wednesday, September 30th, 2009Homebuyers contemplating purchasing a condominium should review a long list of documents and other information related to the Home Owner’s Association (HOA) to make sure that the property they are considering is a solid buy in this challenging market. The following information is a the top of the must-consider list: 1. Budget – Examine the [...]
THE FHA 203K LOAN: Facts on the FHA Streamline Repair Loan
Tuesday, September 29th, 2009In the current marketplace, FHA loans represent an increasingly larger and larger portion of the mortgage market, especially with first time home buyers representing the landscape more and more. Coupled with the fact that many homes are short sales and foreclosures that are not in perfect shape, the FHA 203k is a learn that more [...]
Study: Phoenix-Area Home Prices Up for First Time Since 2007
Tuesday, September 29th, 2009For the first time since 2007, Phoenix-area home prices increased from one month to the next. A new report from the W. P. Carey School of Business at Arizona State University shows a slight 0.8 percent bump up in Valley home prices from May to June this year. The Arizona State University-Repeat Sales Index (ASU-RSI) [...]
7 Tips for First-Time Home Buyers
Tuesday, September 29th, 2009A year after the financial collapse of 2008, the housing market is very different than it was before the foreclosure crisis. Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today: 1. Old-fashioned basics are more important than ever. The safest way to purchase a home is [...]
Credit Reports Under Extra Scrutiny
Tuesday, September 29th, 2009Buyers who are under contract and hoping to close before Nov. 30 when the first-time home buyer credit expires should refrain from buying furniture and other things on credit. Lenders are running credit checks prior to closing day and any increase in credit card or other debt can jeopardize the loan, says Lew Reich, an [...]