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AZ Real Estate Market Update – February 2014

Posted on Feb 28, 2014 in Buyers, Investors, Sellers

Thanks goes out to Fletcher Wilcox one of our favorite title companies who keeps a close eye on the Arizona real estate market for us.

Overview of report below:

· January 2014 Foreclosure Starts Lowest in Over a Decade, page 6

· Four Reasons Why the Number of Potential Financing Homebuyers is Growing, page 7

· Qualified Buyers Gain Market Power in First Part of 2014, page 25

· 44,222 Possible Boomerang Buyers in 2014, page 12

· Some Reasons Why Existing Home Sales Are Down, page 17

· Dodd Frank Legislation and Lower FHA Loan Limit Likely to Reduce Sales in 2014, page 21

· Upcoming Real Estate Broker Symposium on Dodd-Frank, page 4

· Historic Review of Thirty Year Fixed Mortgage Rate, page 19

· How A One Percent Rise in Interest Rate Dramatically Changed Refinance Market, page 3

· Single Family Property Inventory Up, page 20

· January 2014 Median Single Family Sales Price Flat, page 22

· January 2014 Existing Single Family Sales Results, page 23

CLICK HERE FOR FULL REPORT

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Arizona Market Stats Update – Inventories Rising

Posted on Feb 11, 2014 in Buyers, Sellers

Click Here to download and see how the market has seen a nearly 30% increase in inventories from February 2013 to February 2014. This is significant. Great news for buyers who will finally have more inventory to choose from. The bad news for sellers is there will be more competition which means price appreciation should continue but not at the incredible rate of 2013.

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5% Down Payment Assistance Program

Posted on May 14, 2013 in Buyers

Home In 5 Down Payment Assistance Program

The Home in 5 (five) program is offered through Participating lenders to Home buyers that are looking in Pinal and Maricopa County.  The industrial Authority of the county of Maricopa and the Industrial Developement Authority of the city of Phoenix, Arizona have joined forces to help home buyers purchase homes in Maricopa county through FHA, VA or USDA loan programs by giving those that qualify for the program a non-repayable 5% (4% in Pinal County) toward closing costs and Down Payment.

Homebuyer Eligibility Requirements

-Buyers must have a minimum FICO credit score of 640 and maximum 45 debt-to-income (DTI) ratio.

-Standard loan guidelines exist for qualification (i.e., adequate income, acceptable credit, and down payment requirement).

-All buyers must attend a homebuyer education course and obtain a certificate of completion, and receive a home inspection.

- Maximum income must be under $90K ( no income requirements for military personel).

Program Elegibility

-May purchase a home anywhere in Maricopa and Pinal County, including in the City of Phoenix.

-Buyers must occupy the home as their principal residence within 60 days of closing.

-Must occupy the home for 1 year.

-Can be used on Single Family Residences, TownHomes or Patio Homes.

-The program may only be used to purchase a home (i.e., no refinancing).

-Home must be under $300,000.

Important Program Details:

-There is a 2% administrative fee so this program really equates to 3% down payment assistance program. Still great for those who qualify!

-Mortgage rates are a little higher so we suggest consulting your mortgage lender to see which mortgage option best fits your needs.

-This is a Grant and does not have to be repaid back and is not taxable as income.

Program details are subject to change so contact 480-788-7608 or email keithjacksonaz@gmail.com to receive the most current and up to date information on this program. The Keith Jackson Realty Team looks forward to working with you. 

Why Choose KJR?

  • Over 20 years of combined real estate sales and management experience
  • 100′s of homes successfully bought and sold
  • Family owned and operated – we treat all clients like family!
  • The KJR Team consists of two real estate brokers and a buyers agent – meaning experience and results you can count on!

 

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Fix & Flip or Buy-N-Hold?

Posted on Nov 13, 2012 in Buyers, Investors, Sellers

Build your real estate portfolio today with professional experience you can count on from the Keith Jackson Realty Team.  There are multiple approaches we take which will produce you high returns for the Fix & Flip investor or strong cash flows for those buy and holders. Ask us about our unique “Lease Purchase” approach which produce a “Win-Win” situation for everyone and can generate even better returns. The Keith Jackson Realty Team understands what it takes to take buy an investment property at the Auction/Courthouse Steps, from a bank or negotiate a deal directly from a owner-occupant seller and meet your investment objectives.

Below are just a few examples of properties we took from old and outdated to super sheek and produced high returns and/or strong cash flow for our investors:

Fix & Flip

This is just one example of many satisifed investor clients who have purchased and flipped their investment property with the Keith Jackson Realty Team.

* Acquired for $148,000 and Sold for $195,500 in less than four months from rehab to close. We had an accepted offer on this property in under 5 days!

Buy & Hold

Acquired property, remodeled, and turned home into a long term rental property with strong cash flow.

Before

After

Come to one of our monthly seminars and learn more about real estate investing and start building your real estate portfolio today!

Call 480-788-7608 and a member of the Keith Jackson Realty Team would be happy to schedule an initial real estate portfolio consultation and discuss how our team can help you achieve your investment goals.

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Refinance Boom Will Drive Housing Recovery

Posted on Oct 30, 2012 in Buyers, Investors, Sellers

The refinance boom is lowering monthly mortgage payments for some homeowners by lowering their interest rates and is causing mortgage companies and title and escrow companies to hire more employees to meet the refinance demand.

Phoenix Business Journal reporter Kristena Hansen reports on the refinance boom.

http://www.bizjournals.com/phoenix/news/2012/08/30/phoenix-in-midst-of-mortgage- refinance.html?page=all

Number of Monthly Refinances in Greater Phoenix

Refinance closings have went up every month since January. July refinances were 11,518 or 128% higher than the 5,052 refinances in January. A refinance is when a borrower pays off their mortgage with a new mortgage.

Information from CoreLogic Marketrac analyzed by Fletcher Wilcox, Grand Canyon Title

Click Here for full report

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