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The President Speaks! A Good Start or a Cruel Hoax?
Yesterday, February 18, 2009, the President revealed his housing recovery plan. He chose Arizona to make this speech since it is one of the states most affected by the current housing and foreclosure crisis. After analysis of this program it is evident very few people will be helped in our most affected markets, including Arizona.
    After doing hours of research, I am sad to say the plan is disappointing to say the least. Looking at just two of the valley's many communities here are my findings.
Sun City Arizona, a retirement community, average sales price in 2006 = $224,414. In 2008 the average was $179,139, a 20% loss in value.
Surprise Arizona, a family community, average sales price in 2006 = $273,244. In 2008 the average was $$204,477, a 25% loss in value.
The Arizona Regional MLS reported decreases of up to 30% in overall.
    Mr. Obama emphasize the plan was to help "responsible borrowers". After careful reading of the speech and further explanations on the White House blog site, it is obvious that "responsible borrowers" EXCLUDES:
VA (Our honored Vets aren't responsible?)
FHA ( A government sponsored program to broaden homeownership)
ALT-A
    ACCESS TO REFINANCING:    
... more

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