June 2014

If you would like to stay more informed about both local and national real estate issues, you can see articles as soon as they are published. Just visit our Facebook page: http://www.facebook.com/Ahwatukee.homes and click the “Like” button. Real estate news is posted daily, and will be automatically fed to your personal “News Feed”.

 

What’s the Buzz?

Now that the numbers are in and have been verified, it’s official: Metro Phoenix’s median home-sales price climbed almost $10,000 in March from February. The median price for March was $204,500, up almost 4.9 percent compared with $195,000 in February. Now that’s what I call some March Madness!

According to a recent article in azcentral.com, Phoenix is the 8th most affordable metro area for homebuyers. A buyer needs to earn less than $42,000 to purchase a house in metro Phoenix.

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.99 percent, down from 4.05 percent at this same time last week. This is the first time rates have dropped below 4% since October.

Elsewhere in the news… Al Bennati, chief executive of BuyOwner.com, has chosen to list his home with a real estate agent. That’s right, the guy who has built a business telling home owners that they do not need to enlist the help of a professional agent to be able to sell their home, has listed his home through a realtor.

A couple of years ago, Colby Sambrotto of forsalebyowner.com, after failing to sell his home using FSBO websites, hired an agent to sell his NYC apartment.

Two separate people made fortunes convincing others to sell their home through their FSBO sites. Yet, when it came to selling their own home, they recognized the value of using a real estate professional. Hmmmmmm.

Thinking about selling your home in 2014? Find out how much it is worth by contacting The Kennedy Group for a free market analysis!

If you haven’t already done so, please take a moment to “Like” our Facebook page:http://www.facebook.com/Ahwatukee.homes. Phoenix area real estate news is posted daily.

 


In this edition:

  • Phoenix is 8th most affordable metro area for homebuyers
  • Self-Directed IRA Investors Focus Their Investments into Real Estate
  • FSBO Millionaires Use Real Estate Agents
  • Waiting to buy a house? It’ll cost you
  • 30-Year Fixed Mortgage Rates Fall Below 4 Percent
  • Mortgage Rates

Phoenix is 8th most affordable metro area for homebuyers

Phoenix is a relatively affordable market in which to buy a home, according to a report released by HSH.com. The report looks at the salary needed to buy a median-priced home in 27 metro areas around the country. Phoenix ranks 8th with a salary of $41,308.74 needed. Click here for complete article.


Self-Directed IRA Investors Continue to Focus Their Investments into Real Estate in Arizona

A strong majority of retirement clients have used their self-directed IRA or Solo 401k plan solutions to make real estate investments in Florida, California, and Arizona. Self-directed IRA investors are looking to the best areas for retiring when deciding where to make self-directed IRA investments. Click here for complete article.


FSBO Millionaires Use Real Estate Agents

When it came to selling his Florida mansion, Al Bennati, the longtime chief executive of BuyOwner.com, chose to list his home with a local real estate agent. Click here for complete article.


Waiting to buy a house? It’ll cost you

With interest rates going up and housing prices on the rise, you may think that it might not be the best time to purchase a home or even refinance the one you’ve got. But experts disagree. Click here for complete article.


30-Year Fixed Mortgage Rates Fall Below 4 Percent

Mortgage rates for 30-year fixed mortgages fell this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.99 percent, down from 4.05 percent at this same time last week. Click here for complete article.


Mortgage Rates

U.S. averages as of May 1, 2014:

30 yr. fixed: 4.19%

15 yr. fixed: 3.21%

5/1 ARM: 3.37%

30 yr. jumbo: 4.59%

View current rates