Comments on: Scottsdale Real Estate Slowdown? http://athomeinscottsdale.com/2008/12/19/scottsdale-real-estate-slowdown/ Scottsdale homes, real estate, market reports, neighborhoods, events, and great places around town Sat, 11 Feb 2012 12:57:29 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Refinancing an Adjutable Rate Mortgage (ARM) May Not Make Sense | Arizona Mortgage Guru http://athomeinscottsdale.com/2008/12/19/scottsdale-real-estate-slowdown/comment-page-1/#comment-1062 Refinancing an Adjutable Rate Mortgage (ARM) May Not Make Sense | Arizona Mortgage Guru Fri, 02 Jan 2009 19:07:07 +0000 http://athomeinscottsdale.com/?p=1399#comment-1062 [...] than 0.50%). So your monthly payment is reduced without any closing cost expense and despite any loss in equity you may have recently [...] [...] than 0.50%). So your monthly payment is reduced without any closing cost expense and despite any loss in equity you may have recently [...]

]]> By: Dru Bloomfield http://athomeinscottsdale.com/2008/12/19/scottsdale-real-estate-slowdown/comment-page-1/#comment-1052 Dru Bloomfield Wed, 31 Dec 2008 11:10:22 +0000 http://athomeinscottsdale.com/?p=1399#comment-1052 Hi Ernie, Credit approvals have tightened up, but buyers are still getting loans. They need to document income and assets much more thoroughly. Re-financing will face similar issues, yet for homeowners who purchased more than five years ago, and have not taken out and used a home equity line of credit, the situation is more promising. Home sales in the Phoenix area this past fall were up over last year. Buyers are still relocating to the valley. First time home buyers who have been saving and waiting to buy are seeing opportunities. People who are thinking about retiring are looking at second homes, that could become a primary residence somewhere down the line. Rationality has returned. Hi Ernie,

Credit approvals have tightened up, but buyers are still getting loans. They need to document income and assets much more thoroughly.

Re-financing will face similar issues, yet for homeowners who purchased more than five years ago, and have not taken out and used a home equity line of credit, the situation is more promising.

Home sales in the Phoenix area this past fall were up over last year. Buyers are still relocating to the valley. First time home buyers who have been saving and waiting to buy are seeing opportunities. People who are thinking about retiring are looking at second homes, that could become a primary residence somewhere down the line.

Rationality has returned.

]]> By: Ernie Nicely http://athomeinscottsdale.com/2008/12/19/scottsdale-real-estate-slowdown/comment-page-1/#comment-1038 Ernie Nicely Tue, 23 Dec 2008 05:53:27 +0000 http://athomeinscottsdale.com/?p=1399#comment-1038 Dru, what about these two factors? 1. Access to credit seems to be very tight. It's tougher to get approved for credit these days; and there doesn't seem to be enough capital available. Isn't this going to adversly affect the ability to purchase homes or refinance? 2. As market prices continue to fall, and homeowner's equity falls with it, isn't that going make it more difficult to refinance? Dru, what about these two factors?
1. Access to credit seems to be very tight. It’s tougher to get approved for credit these days; and there doesn’t seem to be enough capital available. Isn’t this going to adversly affect the ability to purchase homes or refinance?
2. As market prices continue to fall, and homeowner’s equity falls with it, isn’t that going make it more difficult to refinance?

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