Pink Blossoms on this Desert Cactus
Two weeks ago I started on a series of blogs to go over the nuances of the underwriting guidelines where a home owner can purchase another home to be used as their primary and turn their current home into a rental or second/vacation home.
Davis Calls U.S. Housing Market `Dead Spot' in Economy, these comments were made this morning on Bloomberg. Interesting, but we still have to make a living and work the market we have.
The good news is that interest rates are still near the lows for 2011 and hopefully we will (3 comments)
Last week I started on a series of blogs to go over the nuances of underwriting where a home owner can purchase another home to be used as their primary and turn their current home into a rental or second/vacation home.
The national news outlets have reported this week that according to the S&P/Case Shiller house price report the market has seen a slight increase in home prices month over month, however home prices are still about 4% below where they were last year. One month does not a trend make, but it's better than another down report.
Interest rates (6 comments)
resale: How to get out of your underwater house and live to tell about it!!!!!
- 06/22/11 09:25 PM
Over the last few months I have gotten an increasing number of phone calls and emails wanting to know the process where a home owner can purchase another home to be used as their primary and turn their current home into a rental.
In the Arizona market, home prices have plummeted; for example a home in the West Phoenix Valley that sold in the mid $400K's in 2006 can now be bought for under $150K in 2011. The same holds true for California, Nevada, Florida or any market that has experienced the rapid decline in home prices. They are candidate for this type of activity. (7 comments)
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