News Article From: 02-08-2013
Phoenix-area home prices rose 34 percent in 2012
This article examines a year-end report released Thursday by Arizona State University's W.P. Carey School of Business. In 2012, median home prices were up by almost 34% and foreclosures plunged by a staggering 51%. In addition, cash investors who have been causing a throbbing headache for traditional buyers are apparently showing less interest in the market. Despite an encouraging 13% rise in supply during Q4, the number of existing homes listed on the Arizona Regional MLS (not under contract) on Jan. 1 dropped again by 6.5% month-over-month to 12,623 total listings.
Read article - Phoenix Business Journal
Owning a Rental Property Is 'Sweet Spot' in Market
Low mortgage rates have made buying a home more affordable and turned rentals into an attractive option for investors. Demand for rental housing is expected to remain strong. "In this market, at this point, it's a sweet spot," says Chris Princis, a senior executive at financial advisory firm Brook-Hollow Financial and owner of two rental properties in Chicago. "You're getting the market where it's just starting to rebound, but still at the bottom, with what's looking to be a great recovery."
Read article - FoxNews.com
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