Morrison Residential LLC
Phoenix housing market could rise in 2011
January 27, 2011 by Chris Morrison · Leave a Comment
Phoenix housing market could rise in 2011 - Arizona State University Professor Karl Guntermann predicts that the Phoenix-area housing market will improve in 2011. “Given the pattern that is emerging, it is likely declines will continue for at least the next several months. However, with the economy gradually recovering, employment improving and the foreclosure problem apparently [...]
Phoenix Mortgage Fees Rising Again
January 26, 2011 by Chris Morrison · Leave a Comment
Some lenders already are charging borrowers higher “loan-level price adjustments” that take effect April 1 for mortgages delivered to Fannie Mae. The fees will not affect borrowers with FICO scores above 740 and loan-to-value ratios of 75 percent or less; otherwise, though, the costs could as much as double in some cases. Given that home prices [...]
Reports show buying cheaper than renting in most major metro areas. (Mesa #4 and Phoenix #5)
January 25, 2011 by Chris Morrison · Leave a Comment
Here is a great article from
Christine Ricciardi.
(Mesa #4, Phoenix
#5
on list of where it’s cheaper
buy rather than rent)
It is cheaper to buy a two-bedroom home than rent one in 72% of major metropolitan areas around the U.S., according to the Truliarent vs. buy index released Monday.
The real estate data firm said increased demand for rental properties is [...]
Second wave of foreclosures in Phoenix? It could be…
January 24, 2011 by Chris Morrison · Leave a Comment
Pulled this graph today. It speaks for itself. The question is how these foreclosures will absorb into our Phoenix real estate market?
The good news is at least we are through most of the subprime borrowers.
Chris Morrison Morrison Residential LLC
Posted on Phoenix Homes For Sale | Phoenix Real Estate | Morrison Residential LLC [...]
Americans Are on the Move, Study Shows – Growth in Phoenix!
January 21, 2011 by Chris Morrison · Leave a Comment
More people are moving, according to Atlas Van Lines’ annual Migration Patterns study. In the 2010 U.S. Census, long-distance moves hit a record low. However, Atlas Van Lines says its recent study has shown monthly increases starting in late 2010 with the number of household who are back on the move again.“As the economy forges [...]
More Borrowers Face Expiring Lock-in Rates
January 17, 2011 by Chris Morrison · Leave a Comment
Many Phoenix borrowers opt to lock in mortgage rates when buying a home or refinancing to help protect themselves against any sudden increases in interest rates while the loan is being processed. And with rates on the rise, lenders have reported an increase in lock-in agreements in recent weeks. However, in 2010, the average mortgage took [...]
Reports: Phoenix housing values improve
April 28, 2010 by Chris Morrison · Leave a Comment
Two reports released Tuesday, one local and one national, appear to confirm that housing values are improving in the Phoenix market. Arizona State University’s Repeat Sales Index shows that although prices are lower than one year ago, the declines are not as severe as they have been.
For instance, the index shows prices dropped 9 percent from [...]
Vincent’s Farmers Market on Camelback
March 23, 2010 by Chris Morrison · Leave a Comment
Chris Morrison and Cindy Fassel with Morrison Residential / www.NorthCentralLiving.com visit Vincent’s Farmers Market on Camelback in the parking lot of Vincent.
Posted on Phoenix Homes For Sale | Phoenix Real Estate | Morrison Residential LLC
Phoenix homes now undervalued by 22%
March 23, 2010 by Chris Morrison · Leave a Comment
A frequent leader of late on the negative side of housing stats, Phoenix avoided the top spot among offenders on IHS Global Insight’s analysis of overvalued housing markets during the real estate bubble. And as of year-end, home prices here were undervalued by more than 22 percent, according to the data released Friday.
“The metro areas of California and [...]
Fast evictions hurt Phoenix homeowners during foreclosure.
March 18, 2010 by Chris Morrison · Leave a Comment
Homes that fall into foreclosure in Phoenix are sold at a public auction. The highest bidder becomes the new owner. The former owner then has to move out.
Departing owners have five days under Arizona law to vacate the property. But in the overheated foreclosure market that has come in the wake of the metropolitan Phoenix [...]
