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Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
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Existing Single-Family Home Sales Hit Six Year High in Phoenix
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO TAKE IT TO THE NEXT LEVEL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Existing Single-Family Home Sales Hit Six Year High in Phoenix
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Existing Single-Family Home Sales Hit Six Year High in Phoenix

July 5, 2011 (Shirley Allen)

Existing single-family home sales in Phoenix hit the highest level for the month of May in six years as investors purchased homes at near record levels according to real estate information provider DataQuick. But the high level of foreclosure sales continues to keep a lid on home prices.

A total of 9,837 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in May. Sales were 0.8 percent higher than in April and 4.9 percent higher than May of 2010. It was the highest level of sales since 2007.

Existing single-family detached home sales were at their highest levels since 2005 and sales of existing condos were at their highest level since 2006. New home sales continued to suffer with sales levels at their lowest for a May in 14 years.

Cash buyers were responsible for 42 percent of the purchases in May, which was down from 44.5 percent in April, but up from 34.4 percent a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in May was $90,000, which is down from $91,900 in April and down from $112,9500 in May 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 45.3 percent of all homes sold in May and they paid a median average price of $101,000 during the month.

The overall median price paid for new and resale homes and condos in May was $120,000, which was the same as in April, but is down 13.7 percent from May of last year.

The current median price is at its lowest level since1998 and is 54.6 percent below the peak median price of $264,100 in June 2006.

Distressed sales represented 64 percent of the resale market in May as foreclosures accounted for 50.8 percent of the distressed sales and short sales accounted for 13.7 percent of the distressed sales.

Foreclosures fell 8.5 percent from April to May with lenders foreclosing on 4,832 single-family homes and condos last month. Foreclosures are up 5.6 percent compared to May of 2010.

Tags: DataQuick, existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
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BUYING OR SELLING A HOME IS A BIG DECISION
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Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

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July 5, 2011 (Shirley Allen)

Existing single-family home sales in Phoenix hit the highest level for the month of May in six years as investors purchased homes at near record levels according to real estate information provider DataQuick. But the high level of foreclosure sales continues to keep a lid on home prices.

A total of 9,837 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in May. Sales were 0.8 percent higher than in April and 4.9 percent higher than May of 2010. It was the highest level of sales since 2007.

Existing single-family detached home sales were at their highest levels since 2005 and sales of existing condos were at their highest level since 2006. New home sales continued to suffer with sales levels at their lowest for a May in 14 years.

Cash buyers were responsible for 42 percent of the purchases in May, which was down from 44.5 percent in April, but up from 34.4 percent a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in May was $90,000, which is down from $91,900 in April and down from $112,9500 in May 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 45.3 percent of all homes sold in May and they paid a median average price of $101,000 during the month.

The overall median price paid for new and resale homes and condos in May was $120,000, which was the same as in April, but is down 13.7 percent from May of last year.

The current median price is at its lowest level since1998 and is 54.6 percent below the peak median price of $264,100 in June 2006.

Distressed sales represented 64 percent of the resale market in May as foreclosures accounted for 50.8 percent of the distressed sales and short sales accounted for 13.7 percent of the distressed sales.

Foreclosures fell 8.5 percent from April to May with lenders foreclosing on 4,832 single-family homes and condos last month. Foreclosures are up 5.6 percent compared to May of 2010.

Tags: DataQuick, existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

July 5, 2011 (Shirley Allen)

Existing single-family home sales in Phoenix hit the highest level for the month of May in six years as investors purchased homes at near record levels according to real estate information provider DataQuick. But the high level of foreclosure sales continues to keep a lid on home prices.

A total of 9,837 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in May. Sales were 0.8 percent higher than in April and 4.9 percent higher than May of 2010. It was the highest level of sales since 2007.

Existing single-family detached home sales were at their highest levels since 2005 and sales of existing condos were at their highest level since 2006. New home sales continued to suffer with sales levels at their lowest for a May in 14 years.

Cash buyers were responsible for 42 percent of the purchases in May, which was down from 44.5 percent in April, but up from 34.4 percent a year earlier. The record for cash purchases was in February 2011, when 48 percent of the sales were for cash.

The price that cash buyers are paying continues to decline as the median price paid by a cash buyer in May was $90,000, which is down from $91,900 in April and down from $112,9500 in May 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 45.3 percent of all homes sold in May and they paid a median average price of $101,000 during the month.

The overall median price paid for new and resale homes and condos in May was $120,000, which was the same as in April, but is down 13.7 percent from May of last year.

The current median price is at its lowest level since1998 and is 54.6 percent below the peak median price of $264,100 in June 2006.

Distressed sales represented 64 percent of the resale market in May as foreclosures accounted for 50.8 percent of the distressed sales and short sales accounted for 13.7 percent of the distressed sales.

Foreclosures fell 8.5 percent from April to May with lenders foreclosing on 4,832 single-family homes and condos last month. Foreclosures are up 5.6 percent compared to May of 2010.

Tags: DataQuick, existing home sales, Phoenix, distressed properties, resale homes, condos, cash buyers, investors, median price

Source:
DataQuick

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS