On to another year that will see a change for the better in regards to COVID19! With herd immunity and vaccinations rolling out, there is reason for optimism. How did the Phoenix real estate market fare in 2020? And what can we expect for 2021 with all coronavirus efforts? Let’s do a review of the Phoenix real estate market for 2020. I’ve prepared a video that reviews 2020 and also points out some fundamental metrics such as negative equity and mortgage delinquencies that have been brought on by COVID19. Continue reading to learn more.
One of the least understood costs that a buyer will encounter when purchasing a house are buyer closing costs. In part, this is because buyer closing costs come from different sources. There are lender fees, prorations for taxes and home owner’s insurance as well as funding the escrow account, title and escrow charges, title insurance, and HOA fees such as transfer and capital improvement fees. To understand the details, continue reading.