Rate on 30 year mortgage 3.88 percent!

The average rate on the 30-year fixed mortgage fell again this week to a record low.

Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year fixed mortgage dipped to 3.88 percent this week.

The average on the 15-year fixed mortgage moved up to 3.17 percent from 3.16 percent.

For the five-year adjustable loan, the average rate was unchanged at 2.82 percent. The average on the one-year adjustable loan fell to 2.74 percent from 2.76 percent.

The average fee on the five-year adjustable loan rose was unchanged at 0.7; the average on the one-year adjustable-rate loan was unchanged at 0.6.



Phoenix area housing is on the mend!

Data from the end of 2011 suggest that a housing-market recovery has begun in metro Phoenix.

The upswing in the market will surprise many because it comes less than five months after the region's existing-home prices fell to their lowest level since 1999. But even at last year's low point in August, when the median home price fell to $112,000, many market indicators pointed to an increase in the area's home prices by year-end. Now, it appears they were right.

The median price of a metro Phoenix home rose to $120,000 in December, its highest level since November 2010, according to the Information Market, a real-estate data firm. That was the first December since 2005 that the region's median price didn't drop.

The number of home sales in 2011 climbed to their highest level since the housing market's peak in 2006. Foreclosures fell to their lowest level since 2008. And the number of Phoenix-area homes listed for sale has dropped to a figure not seen since 2005, indicating demand is finally exceeding supply. This is a complete turnaround from 2007, when the housing crash started and cheap foreclosure homes flooded the market while buyers were few.

Now, investors are snatching up both foreclosure and short-sale houses at a record pace. Regular buyers, who need a mortgage to purchase a home, are having a hard time competing with cash-paying investors.

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Arizona Home Show in Tucson this weekend

American Shows Inc., in association with KOLD News 13, KIIM FM 99.5, Solana Outdoor Living, Arizona Energy Pros and Hotel Arizona present the Arizona State Home Show at the Tucson Convention Center. This event takes place on Friday, Saturday, and Sunday, January 6, 7 and 8, 2012.

In 2012, Transform Your Home into the one you’ve always dreamed of!

The Arizona State Home Show is the one place where attendees can talk to hundreds of vendors, compare prices, learn the latest strategies for green building and remodeling, and save money.  The Arizona State Home Show provides everything needed to put together any home improvement project, whether it involves landscaping, contracting, design, entertainment, remodeling, or anything in between.  Additionally, show goers can catch the numerous “How To” demonstrations and seminars presented by the leading experts in the fields of green building, landscaping, remodeling, finance, cooking, construction, and more.  No other location has more resources to save time and money on that next home project.  Attendees can also sample gourmet food prepared by Tucson’s great chefs.

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Paradise Valley Hillside Contemporary Renovation: JKD Building Group

This video showcases unique interior design in a Paradise Valley contemporary renovation.

JKD Building Group

480-443-0021

jkdbldg@cox.net

Paradise Valley Hillside Santa Barbara Style Home: JKD Building Group

Another Paradise Valley Hillside Home is showcased in this video from JKD Building Group

480-443-0021

jkdbldg@cox.net