For the first time home buyer thinking interested in Phoenix, AZ homes, a lot of good news can be found. All it requires is having the right perspective.
There is great news to be found for first time owners, as Phoenix, AZ foreclosures have caused the prices of homes to drop significantly. Bad news for the current home owners, good news for you to buy a home.
Prices are over 50% off of the peak and lower that could be found 10 years ago in many areas, allowing more people to afford to buy their first home. Combined with low interest rates, the price of homes in Phoenix makes owning a home viable.
FHA Loans are very popular with first time home buyers as they allow you to buy a home with very little down. In some cases you can buy a home with as little as 3.5% of the purchase price as a down payment.
It is common for many Phoenix, AZ homes for sale to be bank owned, and the banks are agreeable to contributing towards buyer’s closing costs. FHA Loans may allow for the seller to pay all of the closing costs for the buyer.
With closing costs running up to 4% of the sales price of a home, they can be significant. By allowing the seller to pay for some, or all, of the closing costs, the FHA helps make homes even more affordable.
By using the right loan program, and working with a knowledgeable Realtor, you should be able to find a home that works for your budget. There are plenty of homes to chose from in all neighborhoods, it just takes work on your part.
By having the right perspective, you will realize that this market is in fact a great market for you as a first time home buyer. Just ignore all that you hear about the housing crisis and realize this can be a great time to buy your first home!
To find help on how to buy Phoenix, AZ foreclosures or other homes for sale Phoenix, check out Alfred’s site www.realestatehelpsite.com, which he created to help the first time home buyer get their first home.
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Topics: Real Estate | Comments Off
MLA Style Citation:
Wendler, Alfred "News On Foreclosures In Phoenix, AZ." News On Foreclosures In Phoenix, AZ. 23 Jun. 2010. uberarticles.com. 29 Dec 2014 <http://uberarticles.com/real-estate/news-on-foreclosures-in-phoenix-az/>.
APA Style Citation:
Wendler, A (2010, June 23). News On Foreclosures In Phoenix, AZ. Retrieved December 29, 2014, from http://uberarticles.com/real-estate/news-on-foreclosures-in-phoenix-az/
Chicago Style Citation:
Wendler, Alfred "News On Foreclosures In Phoenix, AZ" uberarticles.com. http://uberarticles.com/real-estate/news-on-foreclosures-in-phoenix-az/
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