Archive for September, 2008

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Phoenix Foreclosure Statistics for August

I thought you would be interested in the latest foreclosure statistics. In August, Arizona ranks 3rd in the country, behind California and Nevada, for the number of recorded foreclosure filings. RealtyTrac states that ”one out of every 182 households or more than 14,000 homes in Arizona” are in some stage of default. It is important to remember that [...]

13Sep2008 | Michele Guss | 3 comments | Continued
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Phoenix home prices declining slower over last 2 months

I just read an article that had some interesting statistics regarding price declines in the Phoenix Metro area. Overall home prices have shown a 22.8% decline from June 2007 to June 2008. Peoria shows the largest decline at 28.1% while Scottsdale/Paradise Valley had the smallest decline at 14%. The article goes on to say that for the [...]

12Sep2008 | Michele Guss | 2 comments | Continued
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Fannie Mae, Freddie Mac taken over..stocks soar

On Sunday the government announced it is taking over Fannie Mae and Freddie Mac in hopes of strengthening the housing and financial markets. Following this announcement, on Monday the Dow rose 290 points. To read the full stories, click on the following links:
http://www.washingtonpost.com/wp-dyn/content/story/2008/09/08/ST2008090801017.html?hpid=topnews 
and http://www.washingtonpost.com/wp-dyn/content/article/2008/09/07/AR2008090700259.html.

8Sep2008 | Michele Guss | 0 comments | Continued
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Factors that will lead to real estate recovery

I was talking to someone this morning and she asked me when I thought the market would recover. My thoughts on this topic are complex. To follow are some general ideas I have about factors that will lead to stabilization and eventually recovery. The 1st thing to consider is that real estate is local.  It depends on what state, county, area, or even subdivision [...]

5Sep2008 | Michele Guss | 0 comments | Continued