Phoenix home resale market update

According to Realty Studies Report from the W. P. Carey School of Business authored by Dr. Jay Butler, associate professor of real estate , The Phoenix resale home market rebounded slightly in February, according to the Compared to January, the number of transactions increased and prices were up a bit. Still, foreclosures accounted for 42 percent of the total market, and the sale of previously foreclosed properties made up 40 percent of the traditional sale segment. Meantime, market watchers are wondering what will happen when the many Adjustable Rate Mortgages (ARMs) reset this year and next. In the report, Dr. Butler explains that prices are not necessarily going up or anything, but they are not in a freefall either; in prominent home buying areas like Gilbert and Chandler, foreclosure activity as a share of the market is still very high, over 40 percent, but the absolute number is beginning to decline.

Federal Reserve leaves Interest rates unchanged

The Federal Reserve left its target interest rate near zero and will continue winding down its unconventional programs, the central bank said Wednesday -- though there were new signs of internal disagreement about how much longer to continue its extreme efforts to support the economy.

Following a two-day policymaking meeting, the Fed said the weak economy and subdued inflation "are likely to warrant exceptionally low levels" for interest rates "for an extended period." (But) It also said it will follow through with plans to end a $1.25 trillion program to support the mortgage market by the end of March, and taper off other special lending programs by Feb. 1...

This should be a very real motivator for your buyers who are currently in the market and will be getting financing.

If your interested in the full article and more detail on the internal fight over sustaining the low rate stimulus:
http://www.washingtonpost.com/wp-dyn/content/article/2010/01/27/AR2010012704802.html

For your success,

Who I am.

Hello,

This is my first blog. First, a little about myself, my name is Fabrizia Meoli, most friends call me Fabi, I am a residential real estate agent. I have been involved in most aspects of real estate over the past 22 years, from the acquisition and development of thousand of residential and commercial acres in Arizona to the management of income properties. I am a post graduate with a Masters degree in Business Administration from W.P Carey School of Business at Arizona State University. Since 2008, I have joined Russ Lyons Sotheby’s International, www.russlyon.com , and I have applied all my passion and energy to help people who want to buy or sell a home in the Greater Phoenix Metropolitan Area and in the Flagstaff Area.
I’d like to dedicate this blog to share my knowledge of the ever-changing complex world of real estate. In my next posts, I will share with my readers market data and articles written by experts of the real estate market in Arizona.
This blog is also posted in my own website, www.fabimeoli.com, which I invite all of you to visit. The website will enable anyone to search homes in any area of the Greater Phoenix Metropolitan Area.

Stay tuned for more of my postings.