You're Now Reading:
Phoenix Home Sales Soar in August
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Phoenix Home Sales Soar in August
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
The Easy Way to Shop For a Mortgage Loan
Fill Out One Questionnare
Receive Multiple Offers. Save Money.
You're Now Reading:
Phoenix Home Sales Soar in August
Mortgage Calculator
Mortgage Rates
Home Buying Tips
Home Selling Tips
About Mortgages
Mortgage Calculator
Mortgage Rates

October 3, 2011 (Shirley Allen)

Buyers in Phoenix took advantage of the lowest interest rates in 50 years and the lowest housing prices since 1998 to push the sales of new and resale homes to their highest levels in five years according to the latest data released from DataQuick.

A total of 9,657 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in August. Sales were 8.1 percent higher than the 9,050 homes sold in July and a whopping 35.8 percent higher than the amount of homes sold in August of 2010.

Existing home sales typically drop 0.1 percent between July and August and were 4.1 percent below the average number of homes typically sold in August.

Last month’s sales benefitted from August having three more selling days than July. When total home sales are compared on a daily basis, sales actually declined by 3.8 percent from July to August, but were still 29.9 percent higher than August of last year. The large difference in home sales from a year ago is a result of the sharp drop in the number of homes sold following the expiration of the home buyer’s tax credit last year.

Cash buyers accounted for 42.4 percent of all purchases in August, which was up slightly from 40.0 percent in July and up 37.6 percent from a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in August was $85,000 which is down from $86,000 in July and down from $95,000 in August 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 44.1 percent of all homes sold in August, down from 45.4 percent in July and they paid a median average price of $96,000 during the month, down from $98,010 in July.

The overall median price paid for new and resale homes and condos in August was $118,000, which was down from $120,000 in July and 9.2 percent below August of last year.

The current median price is 55.3 percent below the peak median price of $264,100 in June 2006 and has fallen year-over-year for the last 14 consecutive months.

Distressed sales represented 61.5 percent of the re-sale market in August, down from 63.8 in July, as foreclosure sales accounted for 47.6 percent of all re-sales, down from 49.8 in July, and short sales accounted for 13.9 percent of all re-sales, down from 14.0 in July.

Foreclosures increased 9.2 percent from July to August, but were down 32.7 percent from August of 2010.

Tags: DataQuick, existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at Mortgageloanrateupdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.
Home Buying
Tips
Home Selling
Tips
About
Mortgages
Mortgage
Calculator
Mortgage
Rates

October 3, 2011 (Shirley Allen)

Buyers in Phoenix took advantage of the lowest interest rates in 50 years and the lowest housing prices since 1998 to push the sales of new and resale homes to their highest levels in five years according to the latest data released from DataQuick.

A total of 9,657 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in August. Sales were 8.1 percent higher than the 9,050 homes sold in July and a whopping 35.8 percent higher than the amount of homes sold in August of 2010.

Existing home sales typically drop 0.1 percent between July and August and were 4.1 percent below the average number of homes typically sold in August.

Last month’s sales benefitted from August having three more selling days than July. When total home sales are compared on a daily basis, sales actually declined by 3.8 percent from July to August, but were still 29.9 percent higher than August of last year. The large difference in home sales from a year ago is a result of the sharp drop in the number of homes sold following the expiration of the home buyer’s tax credit last year.

Cash buyers accounted for 42.4 percent of all purchases in August, which was up slightly from 40.0 percent in July and up 37.6 percent from a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in August was $85,000 which is down from $86,000 in July and down from $95,000 in August 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 44.1 percent of all homes sold in August, down from 45.4 percent in July and they paid a median average price of $96,000 during the month, down from $98,010 in July.

The overall median price paid for new and resale homes and condos in August was $118,000, which was down from $120,000 in July and 9.2 percent below August of last year.

The current median price is 55.3 percent below the peak median price of $264,100 in June 2006 and has fallen year-over-year for the last 14 consecutive months.

Distressed sales represented 61.5 percent of the re-sale market in August, down from 63.8 in July, as foreclosure sales accounted for 47.6 percent of all re-sales, down from 49.8 in July, and short sales accounted for 13.9 percent of all re-sales, down from 14.0 in July.

Foreclosures increased 9.2 percent from July to August, but were down 32.7 percent from August of 2010.

Tags: DataQuick, existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
MORTGAGELOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at MortgageLoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

October 3, 2011 (Shirley Allen)

Buyers in Phoenix took advantage of the lowest interest rates in 50 years and the lowest housing prices since 1998 to push the sales of new and resale homes to their highest levels in five years according to the latest data released from DataQuick.

A total of 9,657 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in August. Sales were 8.1 percent higher than the 9,050 homes sold in July and a whopping 35.8 percent higher than the amount of homes sold in August of 2010.

Existing home sales typically drop 0.1 percent between July and August and were 4.1 percent below the average number of homes typically sold in August.

Last month’s sales benefitted from August having three more selling days than July. When total home sales are compared on a daily basis, sales actually declined by 3.8 percent from July to August, but were still 29.9 percent higher than August of last year. The large difference in home sales from a year ago is a result of the sharp drop in the number of homes sold following the expiration of the home buyer’s tax credit last year.

Cash buyers accounted for 42.4 percent of all purchases in August, which was up slightly from 40.0 percent in July and up 37.6 percent from a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in August was $85,000 which is down from $86,000 in July and down from $95,000 in August 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 44.1 percent of all homes sold in August, down from 45.4 percent in July and they paid a median average price of $96,000 during the month, down from $98,010 in July.

The overall median price paid for new and resale homes and condos in August was $118,000, which was down from $120,000 in July and 9.2 percent below August of last year.

The current median price is 55.3 percent below the peak median price of $264,100 in June 2006 and has fallen year-over-year for the last 14 consecutive months.

Distressed sales represented 61.5 percent of the re-sale market in August, down from 63.8 in July, as foreclosure sales accounted for 47.6 percent of all re-sales, down from 49.8 in July, and short sales accounted for 13.9 percent of all re-sales, down from 14.0 in July.

Foreclosures increased 9.2 percent from July to August, but were down 32.7 percent from August of 2010.

Tags: DataQuick, existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
MORTGAGELOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at MortgageLoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
MORTGAGELOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.