LivingInTheEastValley.com

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Mortgage Rates at 52 year low

Mortgage rates have come down this year to levels not seen since 1956. This makes it a good time to refinance or to buy a home.

Read more about it at CNN/Money.com - Home Mortgage Rates at 52 Year Low

Free Pass to Phoenix Museums and Zoo

A new program begins on April 1 at the Chandler, Glendale, Mesa, Phoenix, Scottsdale, and Tempe libraries. Patrons will be able to check out a free Culture Pass at the circulation desk. The patron will then be given a voucher good for admission for up to four people which will be good for seven days for the museum of their choice. At the end of seven days, the voucher will expire and another patron can check out that pass. There are a limited number of passes available at each library.

The museums that are participating are: Arizona Museum for Youth, Arizona Museum of Natural History, Arizona Science Center, Bead Museum, Cave Creek Museum, Children's Museum of Phoenix, Desert Botanical Garden (starting June 1), Heard Museum, Mesa Contemporary Arts, Phoenix Art Museum, Phoenix Zoo, Scottsdale Museum of Contemporary Art, and Taliesin West.

More Information regarding The Culture Pass

Fix a Leak Week

Did you know that this is Fix a Leak Week? The EPA launched its program with a demonstration in Phoenix. They set up two demonstration toilets, 2 facuets, and a shower head in a Phoenix residents driveway to demonstrate how much water can be wasted from leaks.

Fix a Leak Week in Phoenix

The EPA's Watersense site has lots of information on how to save water including information to consider if you are purchasing new toilets, faucets, or showerheads.

Real Estate Market Statistics - February 2009

Some good news! Months of inventory of homes (includes single family homes, town homes, and condos) in the Greater Phoenix area has dropped from 17.3 in February 2008 to 9.6 in February 2009. Chandler, Gilbert, Mesa, Phoenix, and Queen Creek all had significant decreases from the year before. Tempe has about the same number of months of inventory as last February. Scottsdale did have an increase in the months of inventory. When a real estate market has an average of about six months of inventory it is considered to be "normal".

Months of Inventory: 2009, 2008
ARMLS: 9.6, 17.3
Chandler: 11.0, 14.6
Gilbert: 8.4, 13.3
Mesa: 9.4, 13.9
Phoenix: 8.0, 21.7
Queen Creek: 5.8, 14.5
Scottsdale: 21.6, 19.0
Tempe: 14.0, 14.0

This data is supplied by the Arizona Regional Multiple Listing Service. ARMLS, West USA, and Pat & Amy Monahan do not guarantee the accuracy of the data.

When Will The Real Estate Market Hit Bottom?

Here's a take from Andrew Waite of Personal Real Estate Investor Magazine - he sees an increase in title insurance policies ordered this year as a sign that the market is scrapping along the bottom. Read more - Great News More Market Bottom Evidence

We think the First Time Home Buyers Tax Credit will bring more buyers back into the market. We probably won't start seeing the affects of that until April and later months sales are posted. Buyers are just now hearing about the tax credit and will need time to find a house and purchase it.