Phoenix in top 10 for home affordability
Updated: Jun 28, 2018
Good morning and wonderful Friday!! :)
We've hit that time of year where we're running the heater in the morning and AC during the day :) It is also becoming Spring time... LOVE IT!! :) This week's pic is called Crater Lake. What you are seeing here is actually the caldera of a volcano. [the giant hole that fires out lava] This picture is one of my favorites. Can you imagine being present when this puppy erupted?!! cannot even wrap my head around that. it stretches 5-6 miles across and is about 1950' deep at it's deepest.... sure makes you feel small.
Regardless of the geography lesson haha, I hope you enjoy your wonderful Friday and have a grateful weekend. If there is anything I can help you or someone you know - even a simple question - I'd be grateful to help however I can.
Phoenix Real Estate UPDATE 030317:
Phoenix in top 10 for buyers affording homes, from www.azcentral.com, reports that rising home prices and interest rates didn’t knock metro Phoenix off a new top 10 list of most affordable big cities for homebuyers. The Valley ranked No. 7, up a spot from last year, on a list from national mortgage research firm HSH.com. A homebuyer needs to earn about $46,000 to afford a median-priced home in the Phoenix area. That’s up about $1,785 from a year ago due to a more than 6 percent jump in Valley home prices and a 0.4 percent increase in interest rates. To afford a $236,000 house in the Valley with a 10 percent down payment, a buyer needs to earn $54,000 a year. Relatively affordable home prices, particularly for the west, have spurred metro Phoenix’s growth for decades. New home communities with more affordable prices are now going up again on the Valley's fringes and drawing buyers. Here is the link to the entire article: http://www.azcentral.com/story/money/real-estate/catherine-reagor/2017/02/21/phoenix-top-10-buyers-affording-homes/98200512/