Great news for anyone considering a short sale!

Congress and The President have just signed the bill which allows the DEBT FORGIVENESS ACT to be extended for 1 more year!  This means that you will have no tax liability on your sale if it is a primary residence.  Give me a call if you are considering a short sale.  I have several years of experience both in Las Vegas, and here in Prescott.  Brian - 928-533-9031. 

Now is the time to buy.  If you are considering buying a home, the trend on prices is upward, which means by next year the price of a home could be up to 10% more than it is this year.  Why act?  If you purchase now and the home prices rise by 10%, you will have 10% more equity in your home.  Not a bad return for a year!

   

According to DS News, Builder confidence improved 2 points in August 2012 to 37, which is the highest level since early 2007.  The National Association of Homebuilders said Wednesday.  This is the fourth straight month over month gain.

 

In light news, Webster Dictionary has added "underwater" to its list of words.  "Underwater" has an official definition of "mortgage debt higher than the worth of the property for which it was secured".   

Phoenix home prices have risen 12% this year.  According to the latest reports, Phoenix is experiencing the fastest housing recovery in the country.  Many homes in Phoenix are receiving multiple offers and fast!  Once a home is listed, sellers are reporting receiving offers the same day and many of them are receiving mulitple offers resulting in a "bidding" war.  

Why is this positive for Prescott Real Estate? 

The housing recovery in Phoenix will surely expand to include our markets.

We are already seeing signs of recovery in the Prescott and Prescott area markets.  Inventory has held steady at about 1600 homes for sale, which is substantially lower than the 3000 that were once on the market. 

Interest rates continue to be at record lows and the banks are slowly allowing for more lending.

Now is a great time to jump into the housing market. 

If you are considering  selling your home or purchasing a home, please feel free to contact me at 928-533-9031.

Have a great week,

Brian  

Spring is a busy time of year in the Prescott and Prescott area real estate market.  Now is a great time to get your home ready to put on the market for sale and it is also a great time for buyers to get a quality home at a good price.  Some great sites to get your home looking its best is http://www.wattersonline.com, for some Spring Cleaning there are several services in the area and to list or find you a home, contact me, Brian Monksfield at 928-533-9031 as your Prescott and Prescott area Realtor.