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Despite our seasonal slow down, the Phoenix Metro market is still selling homes.  The foreclosure and short sale market still dominates near 70% of the sales each month.  The month median sales is just under $125,000 making it tough on sellers that purchased or refinanced in the past 5-6 years. 

The Investors with cash are having a great time scooping up properties and building their portfolios.  With the changes to FHA rules regarding the lifting of the 90-day Flip rule, Investors may find it easier to move properties they acquired from short sales and auctions and sell them.  There are still challenges for the investors, but time will tell if the loosening by FHA (HUD) will benefit the Buyers and Invesors.

This Month’s Newsletter :  http://realtytimes.com/c/TedHarden 

• Homebuyer Tax Credit Boosts Economy 
• Exterior Remodeling Proves Best Bang for Your Buck 
• Love The House, Hate The Traffic Noise — There Is Hope!
• Sell Faster: Understand The Buyers Mindset
• Is Your Credit Score as High as You Think? 
• How to Repair Your Home Without Damaging Your Wallet

Fannie Mae is offering a 3.5% incentive* for buyers who purchase and close on a Fannie Mae-owned home between January 28 and April 30, 2010. Buyers purchasing properties listed on this site that are closed within this period may receive up to 3.5% of the final sales price for:

• Closing costs;
• The purchase of new Whirlpool® appliances by Fannie Mae; or
• A mix of closing costs and appliances, at the buyer’s discretion, up to the maximum 3.5%.

To be eligible for this incentive:

• Offers must be accepted on or after January 28, 2010
• Property sales must close before May 1, 2010
• Buyers must be owner-occupants, investors are excluded

*Lenders may impose their own limitations on the use of the 3.5% incentive, so buyers should consult their lenders for guidance:  http://www.fanniemae.com/homepath/incentive/index.jhtml

For those of us that have lived in Arizona for years (decades) remember the coupling of the nightly news/weather with reports the water levels of our lakes/dams in the state.  If you are interested how to check this on your own:

http://www.srpwater.com/dwr/

We have a lot of Snow up north which is a great way to temporary store water (snow) and slowing release it into the creeks, rivers and lakes. 

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