Pending Home Sales Jump in June Ending 3-Month Downward Trend

The June numbers are in, and the National Association of Realtors (NAR) is reporting a 1.5% increase in pending homes sales for the month. This reverses a 3-month downward trend, with low inventory levels likely being the primary force behind the jump. When asked about the latest report, NAR Chief Economist Lawrence Yun said, “Market conditions in many areas continue to be fast paced, with few properties to choose from, which is forcing buyers to act almost immediately on an...

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Good News for Homebuyers Who Cannot Put Down 20%

It is time to dispel the myth of the 20 percent down payment. While a large down payment can help a home buyer to get more favorable loan terms, it is certainly not mandatory when buying a house, especially when it comes to first-time home buyers. “In my experience, most of my clients, especially first-time home buyers, are not aware of the different loan programs that are available with lower required down payments; or of the programs that can actually...

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Tell Your Appraiser About Those Multiple Offers

The Arizona real estate market is flooded with multiple offers these days due to low housing inventory levels. Multiple offers usually mean that sellers are getting top dollar for their homes. This is a great situation up until the appraisal comes back lower than the contract price. Since more and more agents are finding themselves in this situation, here is a way to plan ahead and use those multiple offers to your advantage. First, start using an Appraiser Information Packet...

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Home Buyers Try to Beat the Fast-Approaching Seller’s Market

Beautiful weather, an excited economy, and enticing mortgage rates are getting prospective home buyers off the couch and out into the world in droves – and home sellers are loving it. Experienced real estate agents in most major markets are saying that this is quickly becoming the strongest seller’s market in years. Buyers need to act fast, because sellers are starting to price their homes optimistically, and, in most cases, they are getting what they want. Traditionally, in times like...

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The Rise of Mobile Mortgages

In case you haven’t noticed, Americans are now using their mobile phones for everything. While great customer service is still appreciated, the majority of the country is more interested in just being able to do something on their own, in their own time. While home loans have a lot of moving parts and require different levels of documentation depending on your situation, a few Lenders have now mastered the art of the mobile mortgage. An Accenture survey of 4,000 North...

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3 Reasons to Purchase a Home in 2017

The good news: the economy seems to be well on the road to recovery. The bad news (for new home buyers anyway): the economy seems to be well on the road to recovery. Obviously a healthy economy in the United States is a good thing for everyone, but it certainly can make the home buying experience a bit more expensive. Here are three reasons to act now if you are thinking of purchasing a home: 1. Mortgage rates could soon...

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