2076 South Woodlands Village Blvd Suite 201
Flagstaff, AZ 86001
Local: (928) 226-6908
Fax: (928) 226-0403

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Serving Flagstaff and the surrounding areas, we have over 20 years in the Mortgage Lending industry.

Whether you need help with financing for your first home or you're one of our area's many vacation or investment property owners, we can help. Academy Mortgage offers a wide range of loan programs to fit every buyer.

Please call us today to discuss your current mortgage and your future mortgage goals.


Corp Lic: AZ: BK-0904081; CA: 4170013;

Licensed by the Department of Business Oversight Under the California Residential Mortgage Lending Act;

Existing-home sales decrease slightly in August

After a busy summer, housing activity has begun to slow down. According to the National Association of Realtors, existing-home sales decreased slightly in August. Despite the dip, the real estate industry remains strong. 

"Sales activity was down in many parts of the country last month - especially in the South and West - as the persistent summer theme of tight inventory levels likely deterred some buyers," said the NAR's Chief Economist Lawrence Yun. "The good news for the housing market is that price appreciation the last two months has started to moderate from the unhealthier rate of growth seen earlier this year."

Existing-home sales remain higher on a year-over-year basis. Despite the drop in completed transactions, the total number of sales is actually 6.2 percent higher than the total seen a year ago at this time. 

In addition, the dip in sales follows three consecutive months of gains. This indicates the housing market is experiencing healthy growth, and therefore the seasonal decline should not cause alarm. 

High demand drives high prices. As the economy improves and more individuals feel confident in their personal finances, more people are deciding to apply for a U.S. home mortgage and invest in real estate. The heightened demand also increases the value of homes, and according to the Federal Housing Finance Agency, U.S. home prices appreciated 1.2 percent in the second quarter when compared on a quarter-over-quarter basis, and 5.4 percent year over year. More expensive homes make buying property more difficult for some interested buyers. 

"With sales and overall demand higher than a year ago and supply mostly unchanged, low inventories will likely continue to limit options for those looking to buy this fall even with the overall pool of buyers shrinking because of seasonal factors," noted Yun.

Drop in demand may spark better affordability. While demand remains high and inventory low, fall's reduced housing activity may provide some interested homebuyers with a unique opportunity to find a more affordable dream home. Prices may slide and the chances of entering a bidding war are diminished when demand decreases. 

This is especially good news for the rising number of first-time homebuyers who entered the market in August. Many of these shoppers are younger adults carrying student loan debt, and they will benefit from lower demand and affordable home values. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Contact me to find a loan, get a rate, or calculate your payment today.


Home sales not likely to drop-off

According to the National Association of Realtors, there doesn't appear to be a drop-off for existing-home sales in the near future. From the impressive increase in transactions seen all over the U.S., experts believe the trend will likely continue. 

"Led by a solid gain in the Northeast, contract activity in most of the country held steady last month, which bodes well for existing-sales to maintain their recent elevated pace to close out the summer," said NAR Chief Economist Lawrence Yun. 

Demand remains high and home values expected to follow. While interest rates remain historically low and job growth is healthy, the demand for houses will likely trigger more price appreciation for real estate across the nation. 

According the June S&P/Case-Schiller Home Price Indices, home prices will likely continue to increase at an annual rate of 4.4% for the 10-city composite and 5% for the 20-city composite. 

The increasing value of property indicates there is a healthy demand for homes in a strengthening market. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Visit www.academymortgage.com to find a loan, get a rate, or calculate your payment today.


Construction and remodeling activity contribute to builders' optimism

An increasing number of first-time homebuyers may be responsible for the optimism many home builders feel in regard to construction and remodeling activity. On Oct. 21, the National Association of Home Builders held the Fall Construction Forecast Webinar. Builderonline.com relayed that economists forecast an impressive increase in the construction of single-family homes over the course of the next two years.

Construction expected to increase. The median price for a house has increased due to the rising demand for homes. As the economy and job situation improves, more individuals feel comfortable applying for a U.S. home mortgage and investing their money in real estate. 

To accommodate today's buyers, more construction is expected in the coming years. Robert Denk, a senior economist at the NAHB, predicted home starts would move past one million in 2016 and further increase to 1.2 million in 2017. 

"It's about population and job growth," Denk said. "We're really in a very different place than we were in the early rounds of the recovery."

Remodeling market index demonstrates improvement. Construction isn't the only industry improving. According to the NAHB's Remodeling Market Index, the third quarter marks the 10th straight quarter above 50, the break-even point. The reading settled at 57 during the third quarter.  

"An RMI above 50 indicates that remodelers still feel positive about the market on balance," said NAHB Chief Economist David Crowe.

The continual positivity industry professionals feel toward the market is good for overall recovery. 

"The sustained confidence of remodelers shows that the remodeling market is gradually strengthening in what has been a longer than anticipated recovery," said Robert Criner, the National Association of Home Builders Remodelers vice chairman. "Smaller jobs remain more popular, but overall remodelers feel positive about the future of the industry."

Again, improving economic and employment conditions are better supporting consumers and allowing them to invest in renovations and improvement projects in their homes. In addition, those who want to sell property may feel remodeling will help attract a higher number of interested buyers. 

Academy Mortgage is one of the top independent purchase lenders in the country as ranked in the 2014 CoreLogic Marketrac Report. Contact me to find a loan, get a rate, or calculate your payment today.