Buy or Sell Homes in South East Valley of Arizona

Fannie Mae and Freddie Mac have been in the news quite a bit over the past few years, so it’s a good time to do a refresher on who they are and what role they play in the real estate market. Who Are Fannie Mae And Freddie Mac? Fannie Mae is the Federal National Mortgage Association. Freddie Mac is the Federal Home Loan Mortgage Corporation. They were originally created to raise homeownership levels and increase the availability of affordable housing. Fannie and Freddie don’t sell mortgages directly to homeowners. They buy mortgages from lenders, so the lenders can use the money to issue new home mortgages. In 2008, due to mismanagement resulting in billions of dollars of losses, Fannie and Freddie were taken over by the government. How Do Fannie And Freddie Impact Real Estate? •             They contributed to the financial crisis and real estate downturn, by loosening underwriting standards, buying and guarantee...

According to AZCentral article published today-- http://www.azcentral.com/business/realestate/articles/2011/09/26/20110926new-homes-sales-fell.html .  New homes sales are falling for the 4th month in a row.  This could be good for the buyer!  Picking up a new build for just about as much as a re-sale home!  As new homes are falling right now, I'm driving around the South East Valley one would ask, "Do the builders know something we don't?" Well, I woud say yes, they know that right now there is only about 2-3 months worth of a supply of re-sale homes in inventory.  Compare that to the same time last year we had a whopping 9-12 months supply.  Builders are getting permits again from the county, trying to be ready when the resale market turns.  That is something you don't hear much of- but the facts are- if you are thinking of purchasing a foreclosed home, then understand you are not alone.  there are many people trying to get in o...