Your Source for Fountain Hills News and Real Estate Information: Mortgage News for Fountain Hills Home Buyers

Wednesday, September 5, 2012

Mortgage News for Fountain Hills Home Buyers

What goes down, must come up! Due to recent pricing changes by Freddie Mac and Fannie Mae, mortgage interest rates may tick upwards after October 1, 2012. The government-sponsored mortgage monoliths are increasing the fees they charge to mortgage lenders by 10 basis points, which will increase costs for home buyers.

The motive behind the change is to even the playing field for investors and private capital. Since the housing crisis began, private money fled the mortgage market, leaving Freddie and Fannie guaranteeing the majority of residential mortgages. Now that housing is in recovery, it makes sense to get private capital back into the game. This spreads around the risks of mortgage financing and should reduce the odds of tax-funded bailouts in the future.

Naturally, any increase in lending costs will be passed along to the borrower. According to Bloomberg, the increase of 10 basis points will cost home buyers $4,000 over the life of a $200,000 mortgage. It will be largely transparent to the home buyer, as the increase will be in the form of slightly higher interest rates.

Given that median home prices in Fountain Hills and the greater Phoenix-Scottsdale area are hovering just under $200,000, the mortgage pricing changes should not disrupt anyone's home buying plans. After all, residential mortgage interest is tax-deductible, and the monthly payment impact in Bloomberg's example would be about $11.

Where the concern comes in, is that this pricing change is independent of market factors or economic policies. We have enjoyed low mortgage interest rates and affordable home prices for so long, that it's easy to take these conditions for granted - but they won't last forever. Now is the time to explore the beautiful Fountain Hills homes we have on the market!

As your Accredited Buyer Representative, I provide tremendous experience and local expertise to guide you through our fast-changing Fountain Hills real estate market. If you are ready to enjoy the splendor of panoramic, desert views from your own home, let me show you how to get started. Contact me today and find out more about home buying in Fountain Hills!

Tina Nabers
Nabers Property Management & Real Estate
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Hi, my name is Tina Nabers. Selling Real Estate in Fountain Hills is not a job for me, it's a lifestyle. I relocated with my family from Tempe, Arizona in 1973 and began working in what is now the oldest real estate office in Fountain Hills (Nabers Realty) in 1977. I have literally grown up in Fountain Hills since it began.

I am a full time Realtor and believe ongoing education is key to staying on top of the dynamics of the real estate industry. Besides taking the required 24 hours of education every 2 years, I like to take additional real estate classes to further expand my awareness of the changes occurring yearly in this industry. I currently hold the designations of Accredited Buyer Representative, Graduate of the Realtor Institute and have my e-Pro designation which is the National Association of Realtors Technology Certification Program.

With my dedication, knowledge and reliability, I have assisted hundreds of Buyers, Sellers, and Investors realizing their dream of owning real estate in Fountain Hills. I'm sure I can help you too! I know the market and the market trends, after all, I've lived thru a couple of them myself over the years! THIS IS THE BEST PLACE TO LIVE, WORK & PLAY. I know because I do!

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Nabers Property Management & Real Estate is a full service real estate company with over 30 years of experience serving the community of Fountain Hills, Arizona. Conveniently located in the center of town, we invite you to stop by our office and introduce yourself. We are members of the Scottsdale Association of Realtors, Arizona Association of Realtors, National Association of Realtors and the Multiple Listing Service.

Whether you are a first-time buyer, property owner or investor, long term tenant or a visitor looking for a seasonal rental, Nabers Property Management & Real Estate Company can assist you with all your real estate needs.

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Fountain Hills has been well known for its Fountain, its Great Fair, its Fountain Festival, its magnificent mountain views and very friendly people. Back in 1993 it was voted as one of the "50 Fabulous Places to Raise Your Family" and was featured on Oprah. After that review the community quickly became both a vacation Mecca as well as a place for permanent settlement. Accommodations from resort condos, bed & breakfasts and full service hotels have attracted vacationers as well as home hunters and investors. In the May, 2006 issue of the Phoenix Magazine's Annual "Best Places to Live" in the Valley, Fountain Hills was voted #1 out of 22 Valley communities!!

It was based on such issues as property tax rate, population, crime, school test scores and student-teacher ratios, park acreage and miles to Sky Harbor Airport, to name a few. When asked by visitors if Fountain Hills is a nice place to live we suggest they go to any local grocery or retail shop and at random, ask any shopper the same question. Obviously, residents will give the most objective answer and, as we can corroborate, we feel it is "one of the best places to raise a family", live, work and play.... Read more about Fountain Hills!