The inventory of available Flagstaff homes for sale plunged over 10% from the first of September to the first of October. It’s not uncommon for listing counts to drop after Labor Day. In Flagstaff, with numbers of homes for sale already low, buyers in the lower price ranges are facing sellers’ market conditions just as they are trying to lock in record low interest rates by buying now. These numbers are for single-family homes. (I’ll take a look at the Flagstaff townhome and … [Read more...] about September Strong Month for Real Estate
heitland
Refinancing While Under Water
In many cases, you can lower your interest rate even if you owe more on your home than it's worth. As low as they may be, I still don't think jumping into an adjustable rate mortgage makes sense. But, getting a six-percent rate or even a high-five-percent rate down into the four percent range DOES make sense. Don't let the fact that your home is "underwater" hold you back from exploring the possibility. Do your calculations carefully. No doubt you will be adding … [Read more...] about Refinancing While Under Water
Buyers Signing Contracts but Closings are Few
Lots of info packed into last week's video from National Association of Realtors Chief Economist Lawrence Yun. He covers the continued uptick of pending home sales in June and the dissappointing closing results following a similar uptick in May. Yun also covers the impact the gridlock in Washington has had on the economy and real estate markets and the threat of rising interest rates caused by the debt-ceiling impasse. Even though it looks tonight like that impasse is resolved, interest rates … [Read more...] about Buyers Signing Contracts but Closings are Few
