Heightened Activity in Tucson High End Market

The Tucson luxury market is defined at $800,000 and above. “In the Tucson area, October 2013 luxury active inventory was 268 homes, a 15.5% increase from October 2012. Months of inventory was 38.3 months up from 21.1 in October 2012. The median price of sold homes was $1,162,500 for the month of October 2013, down Read more about Heightened Activity in Tucson High End Market[…]

Increasing Leverage On A Multi-Million Dollar Home Purchase

In accordance with a new jumbo loan program, we break down a lending example below for home buyers in the high cost home markets. Financing scenario: Purchase Price: $2 million; First loan: 80 percent loan-to-value (LTV) maximum, Second loan: 5 percent; combined LTV of 85% for 15% down payment. Loan Highlights: Time to close 25-day Read more about Increasing Leverage On A Multi-Million Dollar Home Purchase[…]

Is the Housing Market About to Get Squeezed with Lower Loan Limits?

Mortgage news is out that Fannie Mae and Freddie Mac, the largest providers in the mortgage industry, might be reducing their maximum loan amount sometime next spring. This means borrowers who don’t qualify according to the revised limits will be required to apply for a jumbo loan, where requirements for liquid reserves, down payments, and Read more about Is the Housing Market About to Get Squeezed with Lower Loan Limits?[…]

Familiar Cities At Top of Million Dollar Homes Sales

Based on real estate market reports by StreetEasy and the MLS, Beverly Hills, California, and New York’s Upper West Side are the leaders in home sales prices over $10 million in the last 12 months. Coldwell Banker claims Beverly Hills’ 90210 ZIP code had 18 purchase transactions and Manhattan’s 10023 had 17 in the year Read more about Familiar Cities At Top of Million Dollar Homes Sales[…]