Saturday, April 09, 2005

Housing market may cool

Betty Beard
The Arizona Republic

Ahwatukee Foothills saw median home prices grow 31 percent in the first quarter of the year, to hit $280,000, keeping prices in the community the highest in the southeast Valley.

But there are hints that the market may be changing.

It appears to take longer to sell homes.

There seem to be more "for sale" or "for sale by owner signs," and there are indications that homes may be overpriced.

But it also will take another quarter or two to show what is really happening, said Jay Butler, director of the Arizona Real Estate Center at Arizona State University.

""That always occurs in a market like this," Butler said.

"You get a little carried away by the price of the home, and the overpriced stuff stays on the market. There are indications (that is happening), but nothing in evidence yet."

The average number of days a southeast Valley home was on the market jumped from six days in January to 35 in February, according to the Arizona Regional Multiple Listing Service.

Butler said that could be because lenders are getting more concerned about whom they lend to or it could simply mean "there are so many homes being sold, it takes longer to get through the process."

The latest housing resale numbers from the center compare the first quarter with the first quarter last year.

The number of sales grew to 545 from 450.

The $280,000 was an increase from $213,450 last year.


At 1:55 PM, Blogger said...

Debt Management, Consolidation Loans & Elimination Programs

It's time to do something about your debt. Millions of Americans have a wallet full of credit cards--plus expensive personal loans, auto loans, second mortgages and more. you're tired of paying 10%, 15%, 19% and more on your credit cards, auto loans, personal loans and other types of credit, today is the day to wipe the slate clean and start over. A debt consolidation loan can lower your interest rate, combine all your accounts into just one convenient monthly payment and give you some extra breathing room in your budget. You'll save money now - and at tax time too (be sure to consult your tax advisor for details.)

With mortgage interest rates the lowest they've been in decades, now is the perfect time to refinance your home and pay off all those nagging bills. You can count on America's Lending Partners FREE service to help you lower your interest rate, pay off those nagging bills and cut your monthly payments by as much as $300, $450, even $500 or more.

Start your request at left. Then, we'll match your profile with our nationwide network of lenders. You'll get up to 4 great offers from some of the most prominent and respected refinance debt consolidation lenders in America...each presenting their absolute best loan offer to win your business

Do not wait any longer; now is the time to take charge of your debt situation. Feel free to brows our site for more information, or for a free, no obligation debt quote, fill out a quick response form on your left, or click here for a free debt quote.

If your in debt... you're not alone. Today, millions of Americans are having difficulty paying their debts. Most of those in financial distress are middle income families with jobs who want to pay off what they owe.

Now is the time to act! Doing nothing can lead to much larger problems.


Free Loan Request - Get Up To 4 Loan Offers!

**** You must own a home to qualify for this service. ****


Post a Comment

<< Home