Excerpt from: Flagstaff Real Estate and Community News
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| March 21, 2010 | | Last week was a rather quiet week in real estate news - the coming week will be more exciting |  "With house prices starting to stabilize and even rise, homeowners on aggregate are slowly building back equity in their homes based on figures from the Federal Reserve Board. After losing almost $7.9 trillion in home equity since the end of 2006, homeowners regained almost $1.1 trillion over the past three quarters ending in 2009." That’s what Freddie Mac’s weekly mortgage rate survey press release said this week. I’ve been looking for the Federal Reserve report and can’t find it. I’m sure it’s there, but since my focus is Flagstaff real estate sales, I’m giving up on the search.
Regardless of what’s happening in national housing market, sustained price increases for Flagstaff homes are a long time out in Flagstaff, still. There will be news of the national market this coming week as the National Association of Realtors® releases its home sales report for February. Flagstaff home sales for February showed an increase in median price, due largely to the pickup in sales of homes in higher price ranges rather than an increase in prices for homes in general.
Also this past week, I noticed several articles about short sales and “don’t walk away from your mortgage” in the national media. They are finally catching up with the blogging the most sophisticated real estate agents have been doing for the last several months.
Here are some interesting highlights from real estate stories of the past week:
Speeding Up Short Sales
8 Things To Consider Before Walking Away From Your Mortgage
Number of homes under construction falls to new low | |
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