Archive for July, 2010
Affordable Housing Program In Arizona
July 5th, 2010 | 
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Great news in the State of Arizona there are six Arizona cities are set to benefit from affordable housing grants from the Federal Home Loan Bank of San Francisco.
The bank awarded $32.5 million in Affordable Housing Program grants in the first round of its 2010 funding competition. The grants approved by the bank’s board went to 60 projects that address the diverse affordable housing needs for communities in Arizona, California, Illinois, Nevada, Oklahoma, Texas and Washington. The grants will produce or preserve 3,375 housing units that are affordable to lower-income individuals and families.
Camp Verde, Flagstaff, Phoenix, San Luis, Surprise and Tucson will benefit from AHP funds, for mls listings in the state of Arizona go to Arizona Homes for sale.
Through a competitive application process, the bank’s AHP awards grants to assist in the purchase, construction or rehabilitation of housing for lower-income households. The bank’s member financial institutions, working in partnership with community-based housing sponsors or developers, submit applications for specific projects and programs twice a year.
The Federal Home Loan Bank of San Francisco delivers low-cost funding and other services to help member financial institutions make home mortgages to people of all income levels and provide credit that supports neighborhoods and communities.
The bank also funds community investment programs to help members create affordable housing and promote community economic development. The bank members, shareholders and customers are commercial banks, credit unions, savings institutions, thrift and loans, and insurance companies headquartered in homes for sale in Arizona, California and Nevada
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Arizona Real Estate Market Is Doing Well
At the end of last year, the real estate market in the Phoenix metropolitan area started to pick up not because of any government program, but because the free market works. When prices came down to a certain level, the investors came out to buy. Homes for sale in Arizona are doing great this year.
Since then, a steady flow of buyers into the market, and many banks real estate agents are even creating bidding wars again. Of course, these bidding wars are driven by totally fabricated demand. The bank has a real estate agent list the house for a super low price to attract multiple offers. Then instead of rejecting any of the offers, they entice all of the propsective buyers into a bidding war and tell them to make their highest or best offer.
None of the buyers know what the other bids are, so they often times end up bidding higher than they should because they get sucked into the emotion of ‘wanting to win the bid’ rather than rationally determining what the house is worth without that emotion present. It is good that the buyers will know how to avoid bidding situations, even in a sellers market. But especially in the current buyer’s market there are still way too many houses available for sale right now to get into a bidding war. Go find a seller who appreciates your offer more and is willing to negotiate under your terms. Go to Arizona homes for sale for more info.
