Buying A Home | Jim Little's Sun City AZ Real Estate Blog

Good News Friday June 5,2009

Pending home sales are up 7% nationwide. Credit Suisse reports real estate buyer activity is up 20-28% in the Phoenix market. Much of the activity is first-time buyers and investors. I have said often it is the first-time buyer who will lead the way and get us out of this recession. Investors are paying [...]

First time Buyers,more about the Tax Credit.

As I mentioned in Friday’s post,the use of the first time buyer tax credit toward BUYING A HOME, is a work in progress.

A very knowledgeable loan originator,Jeff Belonger in Cherry Hill NJ just posted a very good explaination of the rules as they are today. Rather than re-invent the wheel,see Jeff”s [...]

Good News for Friday.

The Consumer Confidence Index improved 14% over the low in February. I have said for a year that confidence,more than anything else except affordability creates housing demand. Both measures are excellent today. Nationally and locally,resale inventory is dropping(5% in the Phoenix metro,I’ll post June 1 with more detail on Sun City [...]

My Promise to Home Buyers

I Promise to Do These Things For You!

•1 Help with the qualification process

•2 Recommend 3 local lenders

•3 Identify suitable properties

•4 Set appointments and show qualifying properties

•5 Prepare buyers estimated closing costs on selected property

•6 If a new home is selected,help review the Public [...]

Fridays are for GOOD NEWS! May 22,2009

A few pieces of good news for the day.

The Home Affordability Index is the best it has been in the 18 years of its existence. 73% of homes for sale were affordable by the median income family($64,000 as of this writing) Mortgages were still artificially low,subsidized by the Federal Reserve. This can’t go [...]

More About Foreclosures

An addendum to my last post. As I mentioned,one of the problems with foreclosed property is the poor condition we often see. Sometimes the poor condition is intentional abuse by the former owner/occupant. I guess they blame their financial condition on the lender who loaned them the money to buy the home,and than [...]

5 Things to Know Before Buying a Foreclosed Home

Expect the property to be in terrible condition. Many foreclosed homes were abused as the former owners realized they were going to lose the home to the bank. Often the home has damaged and missing items. (A friend just sold one with NO KITCHEN. Additionally,the first thing a lender does is turn off [...]

1st Quarter Sun City Market Report

The real estate market in Sun City is showing mixed signs of recovery. We have 770 active listings and 123 listings were sold in April. This results in 6.26 months of inventory. This 6.26 months of inventory (absorption rate) is very significant. An absorption rate of 6 is considered to be a balanced market. More than [...]

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