unemployment improves!! will help Scottsdale AZ Real estate

May 21, 2010

Greetings loyal readers of my Scottsdale AZ real estate blog; it has been too long. I thought all of you ardent AZ real estate followers might like some good news on the economic front. job market improves helps az real estate

Today, the Associated Press reported, ” Unemployment rates fell in a majority of states last month as improved economic conditions spurred hiring.The Labor Department said Friday that 34 states and the District of Columbia reported lower jobless rates in April. ”

As  goes the job market, does the real estate market. Although, what has become a recent phenomenon, it is now required to have a job if you want to qualify for a loan to buy real estate. Please notice the sarcasm, as 2003-2006 were witness to an economic time in az real estate that saw lenders offering loans (and plenty of scottsdale az home buyers taking) to those who did not have jobs. Anyway, I digress…..

The bottom line is that with unemployment data improving, the federal government just this week announcing their commitment to keep interest rates at these historic lows (lower than 5% on 30-year fixed mortgages), and real estate home values in Scottsdale, Fountain Hills, Paradise Valley AZ down as much as 50% from the peak, we seem to be finding solid footing in real estate prices.

In fact,  just recently, the industry trade group reported , ” resales of U.S. homes and condos rose 6.8% in March to a seasonally adjusted annual rate of 5.35 million, ” and ” Sales were up 16.1% compared with March 2009. Existing-home sales rose in all four regions of the country in March.”

Admittedly, there is unsold inventory to work through. However, with buyer traffic at all-time highs, builder confidence improving and interest rates staying below 5% on fixed-rate mortgages and under 4% for adjustable rate loans, it appears the worst of times for Scottsdale, AZ home prices and Paradise Valley real estate is well behind us.

Please call me today. I can help you and your family find your next house and you can make it your home!

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Copyright © 2010 By James Wexler *unemployment improves!! will help Scottsdale AZ Real estate*

Contact James Wexler (480) 221-8080 for all your Scottsdale AZ Real Estate needs.

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