Archive for Housing Market Intelligence

The New Trend?

Sunday, September 2nd, 2018 azrealtycom No Comments »

Millennials often put their furry friends’ needs at the top of their list when shopping for a home. A full 73 percent of millennials currently own a pet, and a whopping 89 percent of millennials who bought a home so far this year own a pet.

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Mortgage Interest Rates Getting Higher and Higher

Wednesday, August 8th, 2018 azrealtycom No Comments »

Bloomberg and Jamie Dimon, JPMorgan Chase CEO announced that mortgage rates should be 1% higher, and could be 2% higher soon. Mortgage rates follow the 10-year note closely. Today, the 10-year note is at 2.93%. Rates are going up due to the rising economy and increasing job market. Those who buy today will benefit from a […]

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Frank Lloyd Wright’s early work in Arizona Blended into South 202

Thursday, August 2nd, 2018 azrealtycom No Comments »

Standing at intervals atop the sound wall between 40th and 48th streets, these custom-designed panels resembling fins are decorative accents inspired by some of modern architect Frank Lloyd Wright’s early work in Arizona. They’ve painted a reddish accent color that extends in a saw-toothed pattern down the sound wall and also appears on retaining walls, […]

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ARMLS Rent Check™ – June, 2018

Wednesday, July 25th, 2018 azrealtycom No Comments »

Once again, all RENT Check indicators for June 2018 showed sustaining momentum comparing to the previous month, May 2018. Median Lease: $1,485 – Increased from $1,450 previous month. Average Lease: $1,670 – Increased from $1,616 the previous month. Avg. Days on Market: 24 – Decreased from 25 days of the previous month. Closed Rental: 2,228 – Increased from […]

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Benchmark rate increased

Monday, July 9th, 2018 azrealtycom No Comments »

Surprising no one, the Federal Reserve lifted its benchmark rate by a quarter point last week, the second hike this year. With unemployment at 3.8 percent, the lowest since 2000, and inflation creeping higher, the Fed says raising rates gradually will keep the economy from overheating. – Reuters

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Mortgage Getting Some Difficulties

Monday, July 9th, 2018 azrealtycom No Comments »

Lenders face an increasingly difficult market. With mortgage rates up about 80 basis points since last September, refinancing is falling sharply; Purchase applications were also down 2.9 percent from April to May. Lenders may turn to cost cutting as a means of managing their bottom lines.  – Reuters

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SkySong 5 Building is to Begin July 2018

Thursday, June 21st, 2018 azrealtycom No Comments »

SkySong 5, the newest and tallest building at the ASU Scottsdale Innovation Center cost more than 43 million, will break ground July 9, 2018. The building will be six stories and consist of 151,318 square feet, bringing the total square footage of SkySong buildings to 868,457. The first and second buildings in the complex opened […]

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ARMLS Rent Check™ – May, 2018

Tuesday, June 19th, 2018 azrealtycom No Comments »

For the month of May 2018, all RENT Check indicators showed sustaining momentum comparing to the previous month, April 2018. Median Lease: $1,450 – Increased from $1,400 previous month. Average Lease: $1,616 – Increased from $1,567 previous month. Avg. Days on Market: 25 – Decreased from 29 days of the previous month. Closed Rental: 1,903 – Increased from 1,771 homes […]

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Housing Market Starts Strong for 2018

Saturday, January 13th, 2018 azrealtycom No Comments »

Here are some good indicators showing US housing market carries great momentum from 2017 to 2018: Home equity has hit a new record high, reported to be $5.5 trillion. Remodeling spending topped $152 billion in 2017 and is forecast to increase in 2018. Mortgage applications on newly constructed homes rose 18% in December from the […]

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Mortgage Rates – Jan 12, 2018

Saturday, January 13th, 2018 azrealtycom No Comments »

CONVENTIONAL 30 Yr    4.25 to 4.375 APR 4.43 15 Yr    3.75 to 4 APR 4.1   ARMS 5 Yr 3.875 to 4.2 APR 4.37 7 Yr   3.875 to 4 APR 4.124   FHA/VA  30 Yr    3.625 APR 3.74 15 Yr    3.375 APR 3.41  

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