Ofir Levy's Blog


Buying a home can be a great investment, as investors gobbling up properties over the last few years–when prices and mortgage rates were at the bottom–well know. Now, with homes prices and rates ticking steadily back up, investors are backing away from the market, leaving more room for the rest of us.
The most expensive home sale the Phoenix Business Journal recorded in November was an 8,750-square-foot Spanish Colonial-style estate in Scottsdale that sold for nearly $823 per square foot.
New-home sales throughout the nation rose 25 percent in October — the biggest month-over-month increase in more than three decades — the U.S. Commerce Department said Wednesday.
Cooler temperatures didn’t necessarily mean a cool down in October activity, according to recent data. Despite a seasonal slowdown in activity, the housing market continued to post some positive metrics in October, reports the latest Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, which aggregates approximately 2,000 real estate agents nationwide each month and provides up-to-date intelligence on home sales and mortgage usage patterns.
A 8,089-square-foot modern mansion in Scottsdale’s Desert Mountain community garnered the second-priciest Phoenix-area home sale, as measured by price per square foot, in 2013 so far.
The long-awaited residential component at Scottsdale Quarter was breaking ground this afternoon, also kicking off the third and final phase of the entire mixed-use shopping center.
Downpayment requirements on 30-year, fixed-rate purchase mortgages continued to decline as home prices rose, LendingTree claimed in a new report.
The most expensive home sale the Phoenix Business Journal recorded in October was a 7,232-square-foot Scottsdale mansion with desert and city views.
Home prices continued on a strong upward pace in September, jumping by one-third from a year ago to a median price of $199,000, according to Arizona State University’s latest housing report.