There are many great Phoenix area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a Market Analysis so
you know what buyers will pay for your home in today's market. You may
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Today, we have our good friend Tom Ross from Nova Home Loans joining us to talk about a favorite topic of his - interest rates. While the general trend for current rates is in the low 4% range, it's hard to be definitive since the rates themselves are largely determined by an individual's credit score.
If you haven't heard, Fannie May has recently made a huge announcement. Their policy usually stipulates that you must wait 7 years after a foreclosure before you can get a conventional loan. However, if you filed for bankruptcy and included your home with it, you can now get a home loan 4 years after foreclosure. This is huge because there are probably many buyers out there who don't even know they are now eligible for a loan!
Home sales are currently down 20% and we're seeing a pretty balanced market, so now is a good time for buyers to start their home search. If you know anyone that is looking to buy a new home, don't keep us a secret. You can reach Tom at (602) 791-5861 or Tom.Ross@NovaHomeLoans.com. We're always here to help make your real estate venture a successful one!
