Prescott Valley Arizona 4/07 sales verses 4/08 sales

April 2007 sales verses April 2008 sales
# of April	$ Value of	Avg April 2007	# of April	$ Value of	Avg April 2008	% Chg
07 sales	April 07 sales	Sales Price	08 sales	April 08 sales	Sales Price	4/07 vs 4/08
All of Prescott Valley	69	17,213,892.00	249,476.00	59	13,244,770.00	224,487.00	-0.10
Master Planned Communities
The Viewpoint	9	2,551,900.00	283,544.00	6	1,524,100.00	254,016.00	-0.09
Pronghorn	3	968,524.00	322,841.00	7	1,929,217.00	275,602.00	-0.09
Granville	6	1,892,400.00	315,400.00	6	1,643,488.00	273,915.00	-0.09
Stoneridge	4	1,121,848.00	280,462.00	7	1,826,655.00	260,950.00	-0.09
Victorian Estates	2	610,000.00	305,000.00	1	227,900.00	227,900.00	-0.26
Quailwood	3	697,000.00	232,333.00	4	815,000.00	203,750.00	-0.09

The above column headings are incorrect.  1st column is area; 2nd column is # of 4/07 sale; 3rd column is value of 4/07 sales; 4th column is 4/07 sales average; 5th column is # of 4/08 sales; 6th column is value of 4/08 sales; 7th column is 4/08 sales average; 8th column is % difference 4/07 sales price to 4/08 sales price 

Loan Program and FICO

• The loan program.

Let's see if we can add a bit of clarity to the requirement

Your credit score provides the lender a numerical value on your creditworthiness. Fair Isaac & Co. developed the calculation in the 1950s, allowing credit bureaus to study the bits and pieces of information from millions of people to develop trend analysis models.

Your statistical information and borrowing history are then numerically ranked as a future predictor of how you will, or in some cases will not, repay your loan. It's called a FICO score, after the initials of Fair Isaac.

When you think of a perfect score, the number 10 comes to mind. In today's real estate industry, higher is also better, and at the moment, the goal is a credit score of 720 or more. With anything lower, a lender will add an "adjuster." This investor-mandated fee, which can vary from lender to lender, is used to offset the perceived higher risk of lending you money.

To further complicate the process, adjusters are cumulative. Depending again on the three factors above, adjusters range from 0.25 percent to 3.5 percent of the loan amount. The accompanying chart shows the different adjusters applied to an owner-occupied loan program for conventional conforming loans amortized over 15 years with varying down payments.

In this example, a credit score of 720 or more would not be subject to an adjuster. Also note that it takes at least a 40 percent down payment to avoid the adjuster. Unfortunately, by the time you read this, the adjusters will have likely changed again.

Different loan programs also will use different adjusters. For FHA and VA, the adjusters could range from an additional 0 to 3 percent for credit scores of 530 to 619, depending on the lender.

For refinances with cash extractions, adjusters could vary from 0.25 to 3 percent, with another level of adjusters for credit scores of 720 to 739. It would take a score of 740 or higher to avoid an adjustment.

For investment properties, the adjusters could vary from 0.25 to 3.5 percent, depending on the down payment and the number of units, up to four. Again, you would also add a credit score adjuster.

Whatever the cumulative adjustment, these fees are labeled as discount points and paid at closing. However, if you are short on cash at closing, the interest rate could be increased to cover the cost.

The whole process can be confusing. Constantly changing rules make it difficult for a lender to easily provide a quick interest rate and closing cost quote to a prospective buyer. At times it is like trying to hit a moving target.

Overall, it is important to realize that credit scores are not just for mortgages anymore. Insurance companies, landlords, employers and many others use the information to evaluate you. With something so important, don't take chances. Understand your credit score and what influences it, and aim high.

Arizona Sundogs couldn't pull it off

The Arizona Sundogs tried to overcome a lead that the New Mexico Scopions had, but couldn't quite pull it off.   The Sundogs were behind 5-1 in the third period.  They fought back to a 5-4 score, but time ran out.  This ties the best of 7 series at 2-2.  One more game at New Mexico, then back to the Tims Toyota Centerin Prescott Valley for game 6.  Hopfully the Sundogs can come back home with a 3-2 lead.  The 5th game is tonight at New Mexico.

Arizona Sundogs (Prescott Valley's team) are up with another win

The Arizona Sundogs beat New Mexico in game three of the seven game Southern Conference Semifinals.  Our Prescott Valley guys are now up with two wins verses one loss.  The Sundogs have two more games at New Mexico's home ice, and they hope to come off with two more wins. If not, it is back to the ice at Tim's Toyota Center to see if they can cap the Southern Conference title.

 

Make Your Home More Appealing in Today's Market

How do you make your home stand out from the competition?  With so many homes for potential buyers to look at and choose from your home must be move in ready.  Start with your curb appeal.  Trim overgrown bushes, remove weeds, add a pot of flowers near the front door.  Remove lawn ornaments.  They don't appeal to everyone and what if your buyer wants one of your favorites?  Repair fencing and have the exterior painted if needed.  Check out the walkway, driveway, pavers, etc.  Replace anything that is cracked or broken.  Replace ripped screens.  Does your front door need paint or stain?  How does the door handle look?  These details are very important for that best first impression.  On the inside remove marks on the walls or touch up the paint.  If wall colors of adjoining rooms match, your home will appear larger.  Use slip covers if you have mismatched furniture for further visual unification.  Organize magazines, remotes, etc.  Wicker baskets work well.  Float sofas and coffee tables away from walls for a designer look and to add visual interest.  Open window coverings, turn on lights for showings.  Polish, wax, clean every surface.  Clean can make the difference!  Get your carpets professionally cleaned to brighten up the overall appearance and eliminate odors.  Organize closets and make sure they are well lit.  If they are stuffed and items can't be stored neatly elsewhere rent storage space until your home sells.  Don't fill the garage and storage areas with stuff that won't fit in the house.  Your storage space will appear that much smaller.  If you can, remove pets from the premises for showings.  Not everyone loves animals and many have allergies.  Sellers, even when your home is perfectly priced to sell quickly, you will still need some patience in this saturated market.  These tips will pay off in the end. 

Prescott Valley's Adrenaline Arena Football

Arena football has come to Prescott Valley at Tim's Toyota Center!  The Prescott Valley Adrenaline team started the season off with a home game win, beating the New Mexico Wildcats (or should I say romped em) with a winning score of 66 - 21.  With this win, the crowd of over 4,000 were pretty excited, but it didn't start out with excitement for the home team as the Wildcats scored on a 31 yard touchdown pass before the over 4,000 fans could get settled in their seats.  But, from that point on. it was the Prescott Valley team that dominated the field.  Hopefully this will be the begining of a great season for the Adrenaline's.    We look forward to many more wins!  Next home game is April 12th at Tim's.  Then off for a 3 game road trip to New Mexico, returning to Prescott Valley on June 11th and 12th.

Prescott Valley's AZ Sundogs Hockey

We had a great season, making it to the playoff's for the seccond time in the few years of our having this great hockey team.  Friday night was the 1st game!  We won! Guess that our Sundogs didn't do as well against New Mexico last night, we lost. Friday night, we pulled out from a tie (3 to 3) in the 3rd period to forge ahead and win the game.  Don't know if our guys were tired or cocky from the great Friday night win, we went down to a loss (5 to 2) last night.  Now, our Sundogs are off to Rio Ranco New Mexico for the next three games.  If New Mexico takes all three on their home ice, our season is over.  We don't think that this is going to happen.  Weanxiously wait for our guys to get back her on the Prescott Valley ice to go ahead with a win and hopefully a great finale to a great season.

Prescott valley and Prescott AZ, one ofthe best places to retire

Are you looking for the absolute best place to retire? We have many wonderful amenities to offer - small, hometown atmosphere, entertainment, outdoor activities, lakes, mountains, shopping, perfect weather, a variety of communities. Contact us for information. We will send a relocation package as well as real estate information.
Are you planning a move to the Prescott Arizona area? If you are interested in purchasing a home, Kathy Renken and Charlie Musarra, with Keller Williams Check Realty are here to help you with a smooth relocation. Kathy and Charlie have over 20 years of combined experience in new home Sales, Senior Retirement Communities, Golf Communities, etc. With the team of Kathy and Charlie, you'll always have your needs attended to. Our services are free for buyers. Honesty and caring is our way of doing business. So, for service you'll be happy with or to recommend to others, buy your next home with the professional help of Kathy Renken and Charlie Musarra of the Keller Williams Check Realty firm. We look forward to hearing from you!
Kathy Renken, Realtor ePro
Charlie Musarra, Realtor ABR,GRI,SRES,ePro
Keller Williams Check Realty
3033 N Windsong, Suite 202
Prescott Valley, AZ 86314
and our new office in Prescott on historic Whiskey Row
Visit our web site at: www.prescottlistings.com

Do It Yourself: Save with easy mortgage add-on

Here is a relatively painless way to save big on your mortgage.  Give yourself a longer year.  You can easily and painlessly make 13 payments a year instead of 12.  Simply take your monthly payment and divide by 12.  Add that amount to your monthly payment and you have a do-it-yourself mortgage accelerator.  Over the long span of a mortgage, your extra annual payment will save thousands in interest and shorten the time to payoff.  Here is an example:  You have a monthly payment of $914.  Divide the monthly payment of $914 by 12 which equals $76.  If you add the $76 to your monthly payment, you will shorten your mortgage repayment by five years and six months.  You will save $38,732 in interest.  Search the Internet for "mortgage payoff calculator" and experiment. 

Company's goal to acquire and restructure distressed mortgages

Recently announced, BlackRock Inc. and Highfields Capital Management will sponsor a new company, with the purpose of acquiring and restructuring distressed mortgage loans.

The new company which will be called Private National Mortgage Acceptance Company. LLC (PennyMac) has been formed by BlackRock Highlands, and a management team of mortgage industry veterans led by Stanford L. Kurland, PennyMac's Chairman and CEO.

The plan is to have PennyMac raise capital from private investors, acquire loans from financial institutions seeking to reduce their mortgage exposures, and seek to create value for both borrowers and investors through distinctive loan servicing.

PennyMac is a company that seeks to bring patient capital to an unprecedented distress in residential mortgages.  Their management have enormous talent and experience in the mortgage business, making them well equipped to develop effective solutions for sellers of mortgage assets and homeowners alike.

There has been intense market focus on write-downs of mortgage-related securities, but whole loan losses have barely begun to materialize.  Over the next two to three years, PennyMac anticipates that the volume of bank-held non-performing mortgages will grow dramatically.  PennyMac will be extraordinarily well positioned as both a buyer and seller of these assets.

PennyMac's strategy is to avoid foreclosure, and instead restructure the loans of struggling borrowers so that they can continue paying and stay in their homes.  As a specialty servicer without the legacy portfolio or business practices, PennyMac will have the flexibility to offer individual borrowers unique solutions to address their needs.

PennyMac's loan servicing activities will be managed through a proprietary servicing operation based in southern California.