HAPPY NEW YEAR!!! We hope that the new year is off to a fantastic start and continues through out the year. The new year is off to a crazy start in Phoenix with the Phoenix Open (Tiger is even here) and the Super Bowl taking place at the same time. AZ Arizona Realty Group is off to a crazy start as well as the new year seemed to light a spark under buyers and sellers.
MARKET UPDATE: The metro Phoenix market remains a balanced market overall (3.6 month inventory). Our market is in somewhat of a precarious spot, although the number of active listings continues to decline, which would normally trigger increased prices, prices are fairly stable due to the lack of active buyers in the market. The federal government is instituting new guidelines on some government loan programs to kick start buyer activity and interest rates remain extremely low. If you or someone you know is considering buying or selling property we will be happy to meet with you and discuss how we can help you achieve your goals.
INTEREST TRACKER: Today's Rates: FHA: 3.50% Conventional: 3.875%. Last month: FHA: 3.625% Conventional: 4.25%.
US / Canadian Exchange Rate: $1.00 Canadian = $0.79 US. Compared to last month: $1.00 Canadian = $0.86 US.
Terry and Lori
AZ Arizona Realty Group