Hot Summer Real Estate

The home buyer tax credit seems to be working, here in the East Valley.
Pending home sales are up for a third month in a row. But there are challenges ahead. Mortgage interest rates rose in May, and June and July Mortgage rates go up and down like a 'YoYo'. The tax credit is currently due to expire at the end of November and we are trying to help as many as can qualify to take advantage of the credit. Does that mean we’ll have a rush of homebuying activity this summer? Well, I am seeing an up tick in activity of buyers at all home buying levels. Luxury homes are priced better than we will ever see them again. Mid priced homes are selling and entry level homes are going fast! This leads me to believe that at least in the East Valley the real estate market in looking up!