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Danley Portfolio - Winter 2016

SELLING LUXURY ARIZONA This summary looks at single-family homes over $500,000 in all areas of the Northeast Valley, including Scottsdale, Paradise Valley, Arcadia, Biltmore, Cave Creek, Carefree, Fountain Hills and Rio Verde. Many Realtors in the Valley were spooked by the lull in activity in the high-end real estate market this past fall. Following some alarming swings in the global financial markets during the third quarter of 2015, sales and contracts above $1.5 million saw disappointing declines in September and October while much of the activity was concentrated in the price ranges between $500,000 and $1 million. More recently, the introduction of the new TRID (TILA-RESPA Integrated Disclosure) procedures has also delayed several closings. Understanding TRID The new Loan Estimate and Closing Disclosure forms were designed as a way to help consumers understand the mortgage process when buy-ing a home. Closing costs and loan payments that adjust over time are clearly laid out and easier for buyers to digest compared to previous pro-cedures. The more cumbersome aspect of TRID is the three-day waiting period that was designed to give consumers enough time to review the Fall 2015 Luxury Market Stats By: Walt Danley


Danley Portfolio - Winter 2016
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