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July 29, 2020

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#greatful #today #positive #az - 928-227-8575
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Smart Mortgage Update

Smart Mortgage Update FHA Mortgage Insurance Changes FHA will change their mortgage insurance premiums on October 4, 2010. There has been a lot of doom and gloom published about the impact of these changes but when you compare present vs. future, the changes are actually very minor. All FHA loans will continue to have 2 forms of mortgage insurance, the Upfront Mortgage Insurance Premium (UFMIP) and Monthly Mortgage Insurance. Currently FHA charges 2.25% of loan amount UFMIP (added onto the loan) and .55% paid monthly. The new system will actually lower the UFMIP to 1% of the loan am

Is the Arizona market still on the rise?

Phoenix recently took the nod as the nation's hottest housing market, with prices rising 34% year over year for the quarter ending Sept. 30, according to the statistics from the Office of Federal Housing Enterprise Oversight. Next up were two neighboring southwest Florida coastal communities -- Cape Coral-Fort Myers, which saw prices jump 33%, and Naples, with a rise of 32%. Besides newfound retirement destinations -- like St. George, Utah, Coeur d'Alene, Idaho, and yet another Arizona market, Prescott -- the remainder of the top 20 price-gainers this past year were cities in Florida and California. This growth shows how coastal areas with warm climates continue to see much demand. The hot markets are still hot," says Philip Hopkins, managing director of U.S. regional services with Global Insight, an economic research firm. "We're seeing some slowing in the rate of price growth, and in some cases price declines outside of the hot housing markets. A soft landing

Housing Affordability: Price to Income

Today, we are again honored to have Ken H. Johnson, Ph.D. — Florida International University (FIU) and Editor of the Journal of Housing Research as our guest blogger. To view other research from FIU, visit http://realestate.fiu.edu/ . Dr. Johnson will also be speaking at NAR's Conference and Expo in Anaheim. For more information click here . - The KCM Crew The Research The resale of existing homes fell 3 percent in September according to the National Association of Realtors.[i] A new wave of foreclosures is scheduled to hit the U.S. housing markets.[ii] Homeownership levels experienced their largest decline since the Great Depression.[iii] Is there any good news about housing? Are there any signs of life in the U.S. property markets? In fact, there are significant signs that favor a recovery in many markets around the country. Beracha et al. (2011)[iv] reports that housing affordability is at record levels in most of the country. The study examines housing affordability fro

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