Archive for Phoenix real estate

Jan
23

Three Quick Ways to Improve Your Credit

Posted by: | Comments Comments Off on Three Quick Ways to Improve Your Credit

 

Yes, there are ways to improve your credit but before you do, please ask the opinion of your financial adviser.These tips come from a local company, Andorra Credit Repair. If you want more information on how to improve your credit, log on to www.AndorraCreditRepair.com

 

  • FICO, Who Cares…? A poor FICO score means paying higher interest rates on everything from mortgage rates, auto financing to department store credit cards. It's all in the numbers. Over thirty years on a $150,000 mortgage, you will save an extra $70,000 by paying an extra 2% on your mortgage. That's almost $200 per month for thirty years!

 

  •  Did you know… The three major credit bureaus have no responsibility of verifying any information that goes o to your credit report. That's right! Inaccurate, erroneous and unverifiable items can be added without your knowledge. Contact the credit bureau if this should happen to you.

 

  • Is it a good idea to pay off old Collections and Charged Off accounts?
    If you pay off a Collection account that has been on the credit report for 5 years (it will fall off by itself in two years whether you pay it or not) you will update the DLA (date of last activity) and it will stay on your credit for an additional 7 years. This generally will lower your credit score for the short term.
    However, if you pay off a Collection or Charge Off account that is 12-24 months old you can dramatically improve the credit score.

For any real estate questions, please contact us at 602.687.9933 or Info@MetroRealtyphx.com .

 

The National Association of Realtors reported Wednesday that prices in Phoenix stayed firm in the second quarter 2010.

They accredited it to the tax credit’s final months and the falling interest rates. There continues to be an inventory of homes for sale in the Phoenix area, up 6% from June to July and 13 percent since July 2009. Arizona remains seventh among states for the number of foreclosures filed which accounted for a growing share of local home sales although the numbers are down.

The median price for a home resale in Phoenix stood at $144,700 in the second quarter, according to the NAR, a 10.4 percent increase over second-quarter 2009, but still well off the 2007 median of $257,400.

The number of single-family home sales also is up. NAR reports a seasonally adjusted annual rate of 157,200 homes based on second-quarter activity in Arizona. That’s up 3.1 percent from the first quarter and 4.5 percent compared with a year.

Phoenix median home prices
 2Q 2010: $144,700 up
 1Q 2010: $140,900 down
 4Q 2009: $143,900 up
 3Q 2009: $142,700 up
 2Q 2009: $131,100 down
 2008: $191,300 down
 2007: $257,400 up

Phoenix median condo prices
 2Q 2010: $87,500 down
 1Q 2010: $88,300 down
 4Q 2009: $94,600 down
 3Q 2009: $100,200 down
 2Q 2009: $104,100 down
 2008: $162,400 up

Source: National Association of Realtors