Better Credit Sparks Upswing in Phoenix Real Estate Market | For ...

In the wake of the housing crisis, many Phoenix home owners struggled with credit issues, and started to pay better attention to credit scores that could affect their eligibility to purchase real estate in the future, or qualify for a loan. Consequently, many home owners have improved their credit scores, which is a trend that has improved the real estate market overall. One of the reasons why consumers are flocking to Phoenix homes is that their credit scores have improved nationwide, and the increase in buying power has enabled them to take advantage of hot deals that are quickly becoming scarce as activity continues to increase.

According to financial experts, the trend of better credit scores is expected to continue. After the recession, consumers have watched their personal finances with care, and are taking preventative steps to maintain good credit scores. A record number of consumers nationwide are now included in the top credit rating of FICO?s credit-scoring charts, and are learning how to better manage their finances so as to prevent another incident where mortgage payments are out of reach.

The latest data from FICO shows that 1.4 million fewer consumers are in the bottom rung of the credit score ranges, which is a promising trend since those individuals most likely would encounter difficulty with obtaining a mortgage for a Phoenix home. The number of people in the lowest credit score range has recently dropped to 14%, which means that the vast majority of people nationwide are well-positioned to buy Phoenix real estate.

If you?d like to learn more about financing options or short sale properties, please don?t hesitate to contact me right away! I have years of experience dealing with all types of real estate transactions, and welcome the opportunity to provide you with expert consultation as you work towards owning your next Phoenix home.

Source: http://forsalephoenixhomes.com/buyers/better-credit-sparks-upswing-in-phoenix-real-estate-market/

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