Arlene Friedman Associate Broker
85026 PERMIT 1441
Established & Recognized
REFINANCING IN THE CURRENT MARKETPLACE: REASONS IT MAKES SENSE When it comes to refinancing a mortgage there are multiple factors that can make it beneficial to do so. Of course, in the current marketplace with interest rates at record lows, the first reason to refinance is most always a lower interest rate. However, there are other reasons as well that make sense to refinance. The first reason to refinance is to get a lower interest rate on your mortgage. Of course many borrowers would like to refinance, but can’t because they have little or no equity due to falling home values. The second reason to refinance is to move to a more stable fixed-rate loan from an adjustable-rate loan. In this regard, many borrowers do have lower interest rate loans, but those rates are not long-term fixed rates, but rather adjustable-rate mortgage rates that will sooner or later adjust and will do so upward when rates inevitably rise again. For those borrowers a fixed rate, even if it is not tremendously lower makes sense over the long term. Even more so, there are borrowers who do not plan on staying in a home long term, but with adjustable-rate mortgages in the current market also being extremely low it even makes sense for the borrower who is only going to spend five more years in a home to refinance into, for instance, a new five-year fixed-rate mortgage. Over those five years the savings can still be enough to justify the process of a refinance. Cash-out refinances were in vogue as property values rose during the real estate boom of the early 2000’s but for certain borrowers who still have equity in their homes, cash out refinances with rates at record lows, still make sense. I’m here to answer your questions about buying and selling. I can offer you a free analysis of your home’s value as well as guide you to exceptional purchase opportunities. Please call and we can discuss your specific goals and how I can help you to achieve them.
• Associate Broker • Graduate Realtor Institute • Who’s Who in Residential Real Estate in North America • Lifetime Member Phoenix Board President’s Roundtable • Lifetime Member Scottsdale Board Million Dollar Club
Maricopa County 2010 MLS Data Distressed Sales vs. Normal Sales
Special Listing conditon Foreclosure Normal Sale Short Sale
Jan 2,480 2,022 1,164 5,666
Feb 2,675 2,430 1,316 6,421
March 3,566 3,615 1,620 8,801
April 3,527 3,822 1,787 9,136
May 3,415 3,753 1,762 8,930
Jun 3,370 3,611 2,181 9,162
Jul 2,725 2,554 1,651 6,930
Aug 2,737 2,398 1,917 7,052
Sep 2,933 2,303 1,511 6,747
Oct 2,854 2,321 1,423 6,598
Nov 3,398 2,331 1,523 7,252
Total 33,683 31,160 17,855 82,698
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Distressed Sales vs. Normal Sales Overlaying Total Sales per Month
Foreclosure Normal Sale Short Sale
Jan
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Maricopa County 2010 MLS YTD Distressed Sales
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Dog-Friendly Hot Spots In The Valley Normal Sale
If your home is currently listed, this is not a solicitation for that listing.
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Maricopa County 2010 MLS Data
Foreclosure
Business: 480.998.0676 Cell: 602.549.9114 ArleneFriedman@cox.net
Arizona Homeowner January | February 2011
Short Sale
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