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Phoenix Home Sales Soar in August
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
Phoenix Home Sales Soar in August
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
Phoenix Home Sales Soar in August

October 3, 2011 (Shirley Allen)

Buyers in Phoenix took advantage of the lowest interest rates in 50 years and the lowest housing prices since 1998 to push the sales of new and resale homes to their highest levels in five years according to the latest data released from DataQuick.

A total of 9,657 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in August. Sales were 8.1 percent higher than the 9,050 homes sold in July and a whopping 35.8 percent higher than the amount of homes sold in August of 2010.

Existing home sales typically drop 0.1 percent between July and August and were 4.1 percent below the average number of homes typically sold in August.

Last month’s sales benefitted from August having three more selling days than July. When total home sales are compared on a daily basis, sales actually declined by 3.8 percent from July to August, but were still 29.9 percent higher than August of last year. The large difference in home sales from a year ago is a result of the sharp drop in the number of homes sold following the expiration of the home buyer’s tax credit last year.

Cash buyers accounted for 42.4 percent of all purchases in August, which was up slightly from 40.0 percent in July and up 37.6 percent from 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 August was $85,000 which is down from $86,000 in July and down from $95,000 in August 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 44.1 percent of all homes sold in August, down from 45.4 percent in July and they paid a median average price of $96,000 during the month, down from $98,010 in July.

The overall median price paid for new and resale homes and condos in August was $118,000, which was down from $120,000 in July and 9.2 percent below August of last year.

The current median price is 55.3 percent below the peak median price of $264,100 in June 2006 and has fallen year-over-year for the last 14 consecutive months.

Distressed sales represented 61.5 percent of the re-sale market in August, down from 63.8 in July, as foreclosure sales accounted for 47.6 percent of all re-sales, down from 49.8 in July, and short sales accounted for 13.9 percent of all re-sales, down from 14.0 in July.

Foreclosures increased 9.2 percent from July to August, but were down 32.7 percent from August 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

October 3, 2011 (Shirley Allen)

Buyers in Phoenix took advantage of the lowest interest rates in 50 years and the lowest housing prices since 1998 to push the sales of new and resale homes to their highest levels in five years according to the latest data released from DataQuick.

A total of 9,657 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in August. Sales were 8.1 percent higher than the 9,050 homes sold in July and a whopping 35.8 percent higher than the amount of homes sold in August of 2010.

Existing home sales typically drop 0.1 percent between July and August and were 4.1 percent below the average number of homes typically sold in August.

Last month’s sales benefitted from August having three more selling days than July. When total home sales are compared on a daily basis, sales actually declined by 3.8 percent from July to August, but were still 29.9 percent higher than August of last year. The large difference in home sales from a year ago is a result of the sharp drop in the number of homes sold following the expiration of the home buyer’s tax credit last year.

Cash buyers accounted for 42.4 percent of all purchases in August, which was up slightly from 40.0 percent in July and up 37.6 percent from 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 August was $85,000 which is down from $86,000 in July and down from $95,000 in August 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 44.1 percent of all homes sold in August, down from 45.4 percent in July and they paid a median average price of $96,000 during the month, down from $98,010 in July.

The overall median price paid for new and resale homes and condos in August was $118,000, which was down from $120,000 in July and 9.2 percent below August of last year.

The current median price is 55.3 percent below the peak median price of $264,100 in June 2006 and has fallen year-over-year for the last 14 consecutive months.

Distressed sales represented 61.5 percent of the re-sale market in August, down from 63.8 in July, as foreclosure sales accounted for 47.6 percent of all re-sales, down from 49.8 in July, and short sales accounted for 13.9 percent of all re-sales, down from 14.0 in July.

Foreclosures increased 9.2 percent from July to August, but were down 32.7 percent from August 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

October 3, 2011 (Shirley Allen)

Buyers in Phoenix took advantage of the lowest interest rates in 50 years and the lowest housing prices since 1998 to push the sales of new and resale homes to their highest levels in five years according to the latest data released from DataQuick.

A total of 9,657 new and resale houses and condos closed escrow in the Maricopa-Pinal counties area in August. Sales were 8.1 percent higher than the 9,050 homes sold in July and a whopping 35.8 percent higher than the amount of homes sold in August of 2010.

Existing home sales typically drop 0.1 percent between July and August and were 4.1 percent below the average number of homes typically sold in August.

Last month’s sales benefitted from August having three more selling days than July. When total home sales are compared on a daily basis, sales actually declined by 3.8 percent from July to August, but were still 29.9 percent higher than August of last year. The large difference in home sales from a year ago is a result of the sharp drop in the number of homes sold following the expiration of the home buyer’s tax credit last year.

Cash buyers accounted for 42.4 percent of all purchases in August, which was up slightly from 40.0 percent in July and up 37.6 percent from 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 August was $85,000 which is down from $86,000 in July and down from $95,000 in August 2010.

Absentee buyers, usually investors and vacation home buyers, accounted for 44.1 percent of all homes sold in August, down from 45.4 percent in July and they paid a median average price of $96,000 during the month, down from $98,010 in July.

The overall median price paid for new and resale homes and condos in August was $118,000, which was down from $120,000 in July and 9.2 percent below August of last year.

The current median price is 55.3 percent below the peak median price of $264,100 in June 2006 and has fallen year-over-year for the last 14 consecutive months.

Distressed sales represented 61.5 percent of the re-sale market in August, down from 63.8 in July, as foreclosure sales accounted for 47.6 percent of all re-sales, down from 49.8 in July, and short sales accounted for 13.9 percent of all re-sales, down from 14.0 in July.

Foreclosures increased 9.2 percent from July to August, but were down 32.7 percent from August 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