The underwriter decides whether or not the applicant meets the criteria set by the lender and qualifies for the loan.

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Banking and Housing Giants Testify About Subprime Solutions

The chief executives of both Freddie Mac and Fannie Mae as well as the Chairman of the Federal Deposit Insurance Corporation and the Federal Housing Commissioner and Assistant Secretary of the Department of Housing and Urban Development testified last week in a hearing before the U.S. House Committee on Financial Services about solutions to the current subprime mortgage turmoil.

Each of the four had some interesting things to say about what their organizations/agencies are doing or could be doing to resolve the situation and...

The Real Estate Market In Scottsdale, Arizona

Scottsdale is hot, hot, and hot. Well, at least the temperature is. The real estate market in Scottsdale has been very cool for some time notwithstanding national trends.



The Real Estate Market in Scottsdale, Arizona



Scottsdale is located just to the north and east of Phoenix. With the growth explosion in both areas, it is becoming more difficult to tell them apart. Nonetheless, Scottsdale has a population of just less than a quarter of a million people and his home to the famous Phoenician Resort. With massive growth over the last 15 years, the city has a definite new feel to it.



The average selling price of a home for sale in Scottsdale is just over $210,000. This figure is about $30,000 over the national sales price for similar homes. Unfortunately, the market has been suffering a down period with appreciation crawling along at a little over four percent. Despite these numbers, real estate market appears primed for a rebound.



As with any part of the country, a prime indicator for real estate is the local economy. In Scottsdale, the economy is picking up steam. Job growth is at a strong four percent with much stronger growth projected through the foreseeable future. Practically speaking, this means salaries and worker demand should increase. These people are going need places to live and will have money in the bank. This surely represents a solid real estate market project for Scottsdale.



With its close proximity to Phoenix, practical amenities are plentiful in Scottsdale. With the exception of snow skiing, you can find practically anything you need within 20 minutes. From an education standpoint, schools in Scottsdale are of high quality and consistently rank above national averages. Health care costs are also on par with national averages, while violent crime rates are about half of the national average.



As you might imagine, it gets dry and hot in Scottsdale. Recently, the area went four months without any rain in the middle of winter. Historically, it has received about nine inches per year. Average temperatures in the summer are a robust 103 degrees on average, but winter days can cool down into the forties.



While the weather is mostly blazing hot in Scottsdale, the real estate market seems to have missed out on the recent real estate craze. Perhaps it is just a little late in getting to the party.

About the Author:

Raynor James is with http://www.fsboamerica.org - FSBO homes for sale by owner. Visit us at http://www.fsboamerica.org/Homes-for-Sale.cfm to find homes for sale or http://www.fsboamerica.org/Sell-Your-Own-Home.cfm to sell your own home.

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