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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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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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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Rate of New Home Sales Hits a 7-Month High in February

Even though mortgage rates have risen a bit and supply has dwindled, the data from February shows sales of newly constructed homes have hit their fastest pace since July 2016. The Commerce Department has been spreading the news today and the news is good for the housing market. According to the released figures, new-home sales ran at a seasonally adjusted annual rate of 592,000. Don’t worry if this figure doesn’t have you jumping for joy, the important thing to know...

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