Pending home sales reach 3-year high Tax credit for first-time homebuyers fuels increase in September

The National Association of Realtors said Monday its seasonally adjusted index of sales agreements rose 6.1 percent from August to 110.1. It was the highest reading since December 2006 and more than 21 percent above a year ago.

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Exceptional real estate investment in Phoenix, HOW bout that FHA buyer

Phoenix, Arizona is one of the lowest priced housing markets in the West, with exceptional real estate investment opportunities.

But..... How bout that FHA BUYER!!! or shall we call them discouraged qualified buyers.

Not only are we seeing 7-10 offers on every decent low priced REO property, but of those offers about 50% of them are all cash. This has become a problem for the First time FHA buyer, who are constantly losing out to these cash bids.

Trying to sell lender owned homes to FHA buyers can be very frustrating, very time consuming and an extremely long process. Most of the REO listing in the MLS will say they accept FHA financing but when they have other offers for either Cash or Conventional terms it seem like the FHA offer is on the bottom of the pile.

Hopefully as banks release more of their foreclosed properties and the competition lessens as we approach the holidays, sellers will again start looking at FHA buyers. It's a shame that so many will miss out on the $8000 tax credit, lets hope for an extension there.

First Time Home Buyers & Investors... Now is the time to buy in Phoenix

Things have changed in the Phoenix market in the last month, it is NOW time to buy. All you first time buyers who've been on the fence, there are some Great Homes out there just waiting for you. The interest rates are down and plentty of inventory. I have been working with investors who are busy building their real estate portfolios. it is time for you.

Several market indicators suggest the Greater Phoenix market is rebounding, primarily in the under $200,000 price range. This is not to say prices are going to go up soon... that would be wishful thinking and I'd be stupid to suggest it. However, prices in the under $200,000 market are stabilizing and that market is pretty darn hot right now.

To sum things up, if your thinking about that first home, investment property or just getting back into home ownership in the under $200,000 range you may want to move forward. At the top-right portion of my Blog there is a sweet home search tool. We invite you to take a look, dream a bit and maybe you'll find something that really excites and surprises you.

Have a great weekend. If you have any questions, we're here for you. We love to help first time home buyers and investors have the real estate experience of their life.

Contact Linda NOW

Top 10 Bargin Markets and Phoenix AZ is #7

Bargain Market #10: Washington, D.C.
is prime for bargain-seeking homebuyers. The area has one of the lowest unemployment rates in the country and boasts bustling nightlife and culture. With home prices down 12.15 percent over the past year, this may be the time to buy in the nation's capital.

Bargain Market #9: Detroit, MI
Home prices have fallen 16.42 percent over the past year in this Midwestern metropolis, as job losses fueled a flood of foreclosures on the market. But Detroit is committed to restoration and revitalization, as evidenced by its mix of historic districts and new developments.

Bargain Market #8: San Diego, CA
With year-round sun, sand and surf, who wouldn't want to live in Southern California's gem, San Diego? Home prices are down 18.03 percent over the past year, so you could find a great deal in this once super-hot market. Plus, it doesn't hurt to be a couple hours' drive from Los Angeles, in case you want to bargain hunt there as well.




Bargain Market #7: Phoenix, AZ
The Valley of the Sun is teeming with potential bargains, with home prices down 18.85percent year-over-year. The Phoenix market was a hotbed of speculative overbuying during the real estate boom, and these days, stretched-thin investors may be willing to negotiate. Homebuyers who can appreciate this rugged Southwest region will find many diverse neighborhoods to choose from. bargin Homes are flying off the market right now..

Bargain Market #6: Napa, CA
Like many vacation destinations, Napa in Northern California saw a surge in speculative buying that inflated real estate prices during the boom. Today, buyers can find homes in beautiful wine country selling for 20.11 percent less than last year. If you're a luxury homebuyer, you may find multi-million-dollar properties offered at steep discounts.

Bargain Market #5: Miami, FL
The heat is on in Miami. Home prices have come down 24.15 percent over the past year, meaning you won't have to shell out as much to enjoy tropical weather, beautiful beaches and hot nightlife year-round.

Bargain Market #4: Ft. Lauderdale, FL
Shedding its "spring break" reputation, Ft. Lauderdale has redefined itself as a pedestrian-friendly, 24-hour community offering a mix of traditional Old Florida neighborhoods with trendy shopping and nightlife. Prices have fallen 25.95 percent since last year, so if a laid-back yet lively lifestyle is what you crave, start here.

Bargain Market #3: Las Vegas, NV
Gamblers weren't the only ones taking risks in Sin City. Eager developers and investors flocked to Las Vegas looking to cash in big on the real estate boom. The hype is over, and prices have plunged 32.60 percent since last year. The city is consistently among RealtyTrac's list of top foreclosure markets, making this area prime for bargain hunters who want to spice up their lifestyle.

Bargain Market #2: Naples, FL
Florida is going Strong with 3 Ciies on the list. Known for its vibrant art scene and the natural scenery of the nearby Everglades, Naples was another vacation destination that was overrun with real estate investors during the boom years. Prices plummeted 32.87 percent over the past year, offering new opportunities for buyers looking to live the beach-town lifestyle.

Bargain Market #1: Stockton, CA
The inland California cities -- Stockton, Merced, Modesto, Vallejo, Riverside, Bakersfield, Madera and Fresno, to name a few -- have been the hardest hit since the real estate housing bubble burst. Home prices in Stockton plummeted a whopping 40.19 percent last year, dragged down by a barrage of foreclosures on the market.

But Stockton's proximity to both the San Francisco Bay Area and the Sacramento area gives it an advantage over other struggling markets. In the past, Bay Area folks sought affordable housing in Stockton (which changed when the market became inflated). Once prices stabilize, the city will have the potential to return to its "affordable" status.

If you are interested in investing in the Phoenix Real estate market I am committed to assisting real estate investors who would like to take advantage of the booming real estate market and investment opportunities in the Phoenix, Arizona area. Contact Linda Wieczorek