03 Jun 08 
Real Estate Buying Season?
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According to the Commerce Department, home sales increased 3.3 percent in April from March, when home sales dropped a staggering 11.1 percent. However, some areas that appeared to be immune to the recent housing slump experienced drastic declines in home sales during the same period; notably King County, Seattle, where home sales dropped more than 33 percent.
The summer months are considered by many as the home-buying season, however some economists have warned that home prices may continue to fall as much as 10 percent before the housing market begins to recover.
The main issues affecting home sales are the abundance of homes for sale, more than 4.5 million, and the tighter mortgage lending practices, which have greatly reduced the amount of home sales. An inbound loan officer for Countrywide told me that his phone rings off the hook by potential buyers; however, because the individuals fail to meet the lending requirements, he is lucky to close one in twenty callers.
Tags: countrywide, department of commerce, home loan, home prices, home sales, Homes for Sale, mortgage, Real Estate
12 May 08 Phoenix Homes and Closeout Specials
With the housing market woes Phoenix home builders have been faced with as of late, it is no wonder that they are doing everything possible to reduce their inventory levels. In the first quarter of 2008, we have seen special offers that have included: closeout special pricing, auctions, fees waived, a lease on a Hummer, a higher co-broke, zero percent interest, and so on…
This summer, homebuyers can expect no less! That’s right, Phoenix-Metro home builders are continuing to offer unheard of deals in effort to sell their remaining homes. Here are some of the best deals homebuyers will find on new homes in the Phoenix real estate market.
Catalina Homes is currently knocking off over $40,000 on 2,900 square foot homes, at The Manors at Baseline—located at the scenic base of South Mountain. These are beautifully designed and constructed single-family homes, for an extraordinary price, which makes them a New Homes Section top pick!*
For a limited time only, you can trade-in your home with VIP Homes! If you own a home, VIP Homes will give you full market value for your home, minus Realtor’s fees. There are six communities to choose from, so visit their website to learn more about each one. *
Elliot Homes is offering homebuyers zero percent interest or no down payments, and a seven percent co-broke! Elliot Homes has built quality homes for close to a century, be sure to visit them online to learn more about their latest communities.*
*Incentives were gathered from each home builder’s website, or available advertisements, and are considered accurate. Please consult with each home builder for more information about each of their offers.
Tags: Arizona Real Estate, catalina homes, elliot homes, Homes for Sale, new homes in phoenix, phoenix real estate, vip homes
01 May 08 Meritage Homes Reports First Quarter Loss
Meritage Homes has posted a first-quarter loss, which is mainly attributed to a drop in sales of new homes in Arizona. During the quarter, Meritage has managed to reduce its new home inventory by 31 percent, which should lead to firmer prices and increased demand in 2009.
“Stabilizing prices should help improve buyer confidence over the next several quarters, and lead to improving demand in 2009 and beyond”, says Steve Hilton, chairman and chief executive of Meritage.
Meritage isn’t the only large homebuilder to successfully decrease their number of inventory homes, which is a good sign for the housing industry and the economy as a whole. However, the U.S. Commerce Department, reported last week, that new home sales in March dropped 8.5 percent to the lowest level since 1991.
Read this article in its entirety by clicking here.
Tags: Arizona Real Estate, Homes for Sale, meritage homes, new homes, steve hilton, us commerce department
