Home Affordabilty reaches new highs was your state one of them? - 05/27/11 12:46 PM
Home affordability moved higher last quarter, buoyed by stable mortgage rates and falling home prices in AZ and nationwide. The National Association of Home Builders reports that Q1 2011 Home Opportunity Index reached an all-time highfor the second straight quarter last quarter.
Nearly 3 of 4 homes sold between January-March 2011 were affordable to households earning the national median income of $64,400. It’s the 9th straight quarter in which home affordability surpassed 70 percent, and the highest reading in more than 20 years of record-keeping.
From metropolitan area-to-metropolitan area, though, affordability varied.
In the Midwest, for example, affordability was high. 7 … (1 comments)
|
Memorial Day Messes With Mortgage Rates - 05/25/11 07:48 AM
Mortgage rates across the state are near year-to-date lows, but locking them in this week may be difficult. As Memorial Day nears, and Wall Streeters get a head-start on the long weekends, trade volume in the mortgage bond markets will dip.
When bond volume drops, mortgage rates get jumpy. It's a relationship based more on scarcity than actual market fundamentals.
It works like this:
Conforming and FHA mortgage rates are based on the "market price" of a mortgage-backed bond Mortgage-backed bonds can't be bought or sold without a buyer and a seller at a specific price As Friday gets closer this … (1 comments)
|
Short Sale vs. Foreclosure - What's the difference? - 05/24/11 10:17 AM
An oldie but goodie had 5 calls on this yesterday alone, thought I would republish - Any of the information within if you would like a sheet for your own distribution with your name and logo on it don't hesitate to let me know and I would be happy to send the file to you so you can help your clients. Also www.azshortsalesdoneright.com will be of help to Arizona home owners and agents looking for the latest in short sale info. Feel free to go ahead and use whatever material you feel you can use to prevent more homeowners from going … (0 comments)
|
Stunning Ranch in gated Terravita with a resort li - 05/23/11 12:46 PM
Stunning Ranch in gated Terravita with a resort like backyard featuring water feature- views of Winfield Mountain and BBQ Island. Backs to natural arroyo. Newly tiled- fully applianced and huge 3 Car Garage with epoxied floor. Popular Stella Model. Exterior painted in 2009, Dishwasher 2009, Refrigerator in 2010.Meticulously maintained and gently lived in. Den with custom built-ins. High ceilings- and walls of windows provide great views. Furniture is available by seperate bill of sale outside escrow. A lovely home awaits you and with it the Terravita Lifestyle- Guarded entry- Olympic Pool and Spa- Fitness Center- Club Dining- Optional Golf Membership. Minutes … (0 comments)
|
Maximum Agency Jumb Set to Fall - Temporary High Cost Area loan limits are coming down - take action now before it's too late - 05/23/11 11:15 AM
… (1 comments)
|
How To Screen For A Good Home Contractor - 05/22/11 02:42 PM
Home remodeling projects are expected to top $130 blllion this quarter, their highest total since Q1 2008. A likely catalyst is that the average cost of a home improvement project is falling fast. With the economy loosening up and contractor costs on a downswing, some in Phoenix homeowners are choosing to put money back into their respective homes, and making home improvements. If you’re among them, you’ll want to make sure you’ve properly screened your contractor.
Advice is mostly common sense, and worth heeding. For example:
Only select registered/licensed, and insured contractors for work in your home Don’t automatically select the lowest bid; … (0 comments)
|
Fed Minutes Put The Heat On Mortgage Rates To Rise - 05/21/11 11:14 AM
The Federal Reserve released its April 2011 Federal Open Market Committee meeting minutes Wednesday. In the hours since, mortgage markets have worsened; rates in AZ are higher by 1/8 percent this morning, at least.
The “Fed Minutes” is published 8 times annually, three week after each scheduled FOMC meeting. The minutes are the Federal Reserve’s official recap of the conversations and debates that shaped the prior FOMC session.
Another way to consider the Fed Minutes is as the companion piece to the more well-known FOMC press release. The press release is issued on the day of adjournment, and is brief, narrow, and high-level. … (1 comments)
|
How much are distressed homes now worth? What's your guess? - 05/20/11 09:47 AM
Distressed Homes Now Selling At A 20 Percent Discount The housing market recovery stalled last month. At least temporarily.
According to the National Association of REALTORS®, Existing Home Sales slipped 1 percent in April from the month prior, falling to 5.05 million units on a seasonally-adjusted, annualized basis. The reading is exactly in-line with report’s 6-month average which also reads 5.05 million units.
The data may appear “average”, but there’s another angle to consider.
In April, as compared to March, the supply of existing homes for sales spiked. At the current pace of home sales, it would now take 9.2 months to exhaust today’s complete … (3 comments)
|
Jeff Biebuyck Manager of Sotheby's International rolls out new marketing paradigm to his office. - 05/19/11 10:39 AM
Sherman Oaks California Wednesday the 18th of May was an amazing day for Jeff's office (Ewing and Associates Sotheby's International Realty) and his estate agents as they were exposed to Jeff's vision and direction for his company's goal of rasing the bar for helping the office jump even further out in front of the average agent in terms of property sales for their clients.
Jeff Biebuyck introduced to one and all the true way to help sell more homes faster than any other Los Angeles firm by implementing the ability to have his listings be found on the first page … (1 comments)
|
House swapping yes it can be done! - 05/19/11 12:43 AM
House Swapping/Trading Homes – What You Need to Know
You may have heard the term “house swapping”. It has been in the news lately and it’s a little-known way for people to trade homes with each other. Fannie Mae and Freddie Mac have had this financing option on their books forever.
Documentation & Details
As with everything else in today’s mortgage world documentation is the name of the game. Every aspect of the trade must be documented, from contracts to evidence of ownership, proof of the home’s value and evidence of the final trade.
Highlights:
Trade equity must … (1 comments)
|
3 Bedroom 2 Bath home for sale in Sherman Oaks - 05/18/11 06:42 PM
… (1 comments)
|
2 bedroom Home for Sale in Sherman Oaks in the heart of Liberty Square - 05/18/11 11:09 AM
Looking for Homes for Sale in Sherman Oaks this charming Sherman Oaks Home for Sale is one you will not want to miss. While looking at Traditional Homes for sale in Sherman Oaks this 2 bedroom 2 bath home will stand out with it's complete white picket fence located in the heart of Library Square close to Ventura Boulevard. Such an amazing place when wanting to find Homes for Sale Sherman Oaks that are close to the local shopping and restaurants. This Charming 2 bedroom 2 bath home is one of the best Homes for Sale in Sherman Oaks on the … (0 comments)
|
5 bedroom Home for Sale in North Ranch Country Club ~ West Lake Village CA - 05/18/11 09:56 AM
This fantastic 5 Bed 6 Bath Home in Westlake Village,Ventura is Located inside North Ranch Country Club. This two story, 5 bedroom, 6 bath home rests on a magnificent 58,370 square foot lot, amid manicured gardens and citrus trees. A backyard oasis includes a pool, jacuzzi, waterfall and outdoor fireplace barbecue area. As you walk into this North Ranch Country Club home you will notice in the entryway twin entry ponds and a waterfall, you will enter into a setting of Old World splendor and artisan craftsmanship, including custom lighting fixtures, sumptuous hand carved moldings, five imported European fireplaces, distressed walnut wood floors, stained glass windows … (1 comments)
|
5 Bed 6 Bath Home in Westlake Village,Ventura - 05/18/11 09:48 AM
This fantastic 5 Bed 6 Bath Home in Westlake Village,Ventura is Located inside North Ranch Country Club. This two story, 5 bedroom, 6 bath home rests on a magnificent 58,370 square foot lot, amid manicured gardens and citrus trees. A backyard oasis includes a pool, jacuzzi, waterfall and outdoor fireplace barbecue area. As you walk into this North Ranch Country Club home you will notice in the entryway twin entry ponds and a waterfall, you will enter into a setting of Old World splendor and artisan craftsmanship, including custom lighting fixtures, sumptuous hand carved moldings, five imported European fireplaces, distressed walnut … (1 comments)
|
Usage of HUD/FHA In advertising may cost you - 05/18/11 09:03 AM
… (0 comments)
|
Home Builders Seeing More Sales Today; Fewer Sales Tomorrow - 05/17/11 11:01 AM
Home builder confidence can't shake its range, according to the National Association of Home Builders. The group's monthly Housing Market Index put May's builder confidence reading at a level of 16.
The Housing Market Index is scored on a scale of 1-100. A reading above 50 suggests favorable conditions for the new home housing market, as reported by home builders. A reading below 50 suggests unfavorable conditions.
May marks the sixth time in 7 months that the HMI posted a 16, the longest such plateau in the index's history.
The HMI has not posted higher than 50 since April 2006.
… (0 comments)
|
4 bedroom 3 bath in Rancho Cimarron Gilbert - 05/16/11 12:56 PM
This remarkable 4 bedroom 3 bath in Rancho Cimarron Gilbert is a single level home located in Gilbert Arizona. This Gilbert home as you can imagine is loaded with all the bells whistles! The back yard of this 4 bedroom 3 bath in Rancho Cimarron Gilbert features heated pool and spa, covered patio and great red wood deck. The kitchen of this 4 bedroom 3 bathroom home is simply gorgeous with raised panel cabinets, slab granite counters, stainless steel appliances (including fridge) large island and breakfast bar. Three bedrooms all have vaulted ceilings, ceiling fans and the office or den has … (1 comments)
|
Estimated Number of Years To Drop Mortgage Insurance - 05/16/11 10:18 AM
Estimated Number of Years To
Drop Mortgage Insurance Chart
At application, do the math and let your clients know the estimated number of years that the PMI or MIP will be eliminated.
The interest rate makes a difference, but here’s an example of a sales price/appraisal value of $250,000 at 6% interest rate, and based on making regular monthly payments (no principal prepayment).
If the interest rate is 1% lower than 6%, subtract one year
If the interest is 1% higher than 6%, add one year
Show this to your clients and feel free to re-blog like crazy.
… (2 comments)
|
Rules for Dropping Mortgage Insurance - 05/15/11 10:03 AM
What you and your clients need know...
Yep, there’s a disclosure for that!
But what do the PMI termination rules really mean to the average person?
Dropping Conventional Mortgage Insurance Rules
Automatic Termination
Fixed Rate & Adjustable – Removed when reduced to 78% LTV
Based SOLEY on regular amortization (not prepayment of principal)
LTV based upon ORIGINAL VALUE
Additional Requirement:
Mortgage payment must be current
Borrower Requests Termination
o Fixed & Adjustable – Removed when reduced to 78% LTV
Additional Requirements:
Submit cancellation request in writing
Good payment history
Current on … (4 comments)
|
What's happening now gas is 4 BUCKS a gallon? - 05/14/11 11:07 AM
When oil shot up to as high as $150, a very abrupt shift in spending happened, either creating or certainly contributing to the recession which followed soon after. To blame fully or not, gasoline at $4+ per gallon certainly did take its toll on the economy, as these price increases find their way into everything to some degree (think fuel surcharges and high freight shipping costs). For what it's worth, we are seeing at least some of the same effects today, and high fuel and food prices are very likely strong contributing factors in the decline in GDP from over 3% … (2 comments)
|
Rates are threatened again by rising retail sales - 05/13/11 12:30 PM
Rising Retail Sales Threaten Low Mortgage Rates Another day, another piece of evidence that the U.S. economy is expanding.
Thursday, the Census Bureau released the April Retail Sales report. Excluding cars and auto parts, retail receipts rose for the 10th straight month and, at $321 billion, reached an all-time high.
Retail sales account for roughly half of consumer spending, and roughly one-third of the economy overall.
For home buyers and rate shoppers in Scottsdale , the sales figures have positive and negative implications.
On the positive side, more retail sales suggests more confidence in the U.S. economy. This can spark a growth cycle that benefits … (3 comments)
|
More Good News about the Housing Market - 7 months in a row really? - 05/12/11 12:09 PM
Foreclosure Filings Fall To 40-Month Low Foreclosure activity continues to drop nationwide.
Based on data from foreclosure-tracking firm RealtyTrac, foreclosure filings nationwide fell below 220,000 in April 2011, a 9 percent decrease from March.
A “foreclosure filing” is defined as any foreclosure-related action including Notice of Default, Scheduled Auction, or Bank Repossession.
April marks the seventh straight month in which foreclosure filings have dropped and total filings are down more than one-third year-over-year.
One reason why filings are down is that banks are letting more time pass between delinquency and foreclosure, exploring alternative courses of actions such as short sales and … (2 comments)
|
2 Bedroom Home for sale in Sherman Oaks - 05/10/11 06:18 PM
Looking for Homes for Sale in Sherman Oaks this charming Sherman Oaks Home for Sale is one you will not want to miss. While looking at Traditional Homes for sale in Sherman Oaks the home will stand out with it's complete white picket fence located in the heart of Library Square close to Ventura Boulevard. Such an amazing place when wanting to find Homes for Sale Sherman Oaks that are close to the local shopping and restaurants. This charming 2 bedroom 2 bathroom cottage style is one of the best Homes for Sale Sherman Oaks on the market today plus it has cozy convertible den, wood floors throughout, stainless steel and marble kitchen with an enclosed … (0 comments)
|
2 bedroom 2 Bath Home for sale in Sherman Oaks - 05/10/11 04:59 PM
Looking for Homes for Sale in Sherman Oaks this charming Sherman Oaks Home for Sale is one you will not want to miss. While looking at Traditional Homes for sale in Sherman Oaks the home will stand out with it's complete white picket fence located in the heart of Library Square close to Ventura Boulevard. Such an amazing place when wanting to find Homes for Sale Sherman Oaks that are close to the local shopping and restaurants. This charming 2 bedroom 2 bathroom cottage style is one of the best Homes for Sale Sherman Oaks on the market today plus it has cozy convertible den, wood floors throughout, stainless steel and marble kitchen … (1 comments)
|
Basic tips for preparing a home for sale simple for agents tough for sellers - 05/10/11 04:50 PM
What To Fix Before You List With housing prices down across the country, there are a lot of homeowners in Arizona barely breaking even on their respective home sales. Some are even losing money.
You may find yourself in that position, too; wanting to sell, but worried about bringing cash to your own closing.
It creates an interesting dilemma. You want your home to “show nicely” relative to comparable properties, but you don’t want to invest big dollars that may never be recouped into upgrades or renovations. So what do you do?
The answer is simple. Do the bare minimum.
From an … (1 comments)
|
Homes for Sale Sherman Oaks - 05/10/11 04:33 PM
Looking for Homes for Sale in Sherman Oaks this charming Sherman Oaks Home for Sale is one you will not want to miss. While looking at Traditional Homes for sale in Sherman Oaks the home will stand out with it's complete white picket fence located in the heart of Library Square close to Ventura Boulevard. Such an amazing place when wanting to find Homes for Sale Sherman Oaks that are close to the local shopping and restaurants. This Charming 2 bedroom 2 bathroom cottage style is one of the best Homes for Sale Sherman Oaks on the market today plus it … (0 comments)
|
2 Bed 2.5 Bath in Desert Ridge Home for Lease - 05/10/11 02:44 PM
This 2 Bed 2.5 Bath in Desert Ridge Home for Lease has a gorgeous kitchen with granite counters and is open to the living area.This 2 Bed 2.5 Bath in Desert Ridge Home for Lease has a split floor plan, bedrooms upstairs both with own bath. Perfect for entertainment. For your BBQ party enjoy the outside yard of this 2 bedroom 2.5 bathroom home in Desert Ridge, or the community Pool. This home is close to Desert Ridge and minutes from freeways and is serviced by Desert Ridge Schools. Come by this fantastic lease and call me Andrea Peter ASAP.
… (0 comments)
|
Rates are now just off the historical lows and most expect a continued rise. - 05/09/11 01:02 PM
Historic Low Mortgage Rates- Rates are now just off the historical lows and most expect a continued rise. Having consumers want the lowest rate and the lowest price for homes in years can be frustrating. In order to get my clients to "pull the trigger" I show them that for the first time ever they can buy a home for less than the cost to rebuild the home! Very powerful argument and one that your insurance agent can help you with especially when your buyer balks at their insurance quote of $90 a square foot to replace the house but they are only … (0 comments)
|
Getting a Loan These Days is not that hard! - 05/08/11 10:49 AM
It's all over the news that it's very hard to get a loan these days. That's just not true. Things have changed but for those that are prepared, it's a different story. Setting clear expectations up front and getting al the prep work done before you get your client in the car is essential to having a smooth and early closing.
… (1 comments)
|
Tutorial: Resizing YouTube Videos - 05/08/11 12:07 AM
Tara always has the best tips out their as she scours the web for all things important to make Activerain just that little bit better for us all - thanks Tara.
Via Tara Cummins - Marketing for educate2earn & AmeriFirst (AmeriFirst Financial, Inc.):
UPDATE: The ever wise Craig Daniels pointed out to me that all that math isn't really necessary. If you look closely to the screenshot of the embed code below you'll notice that to the right of the presized options there is a spot where you can have YouTube calculate custom dimensions for you. You simply type in … (0 comments)
|
Ssshhhhhh it's coming to Scottsdale - but will you be ready? - 05/07/11 11:27 PM
Scottsdale the World Domination Tour is coming - Part One can you make it?
If you are a Realtor and want to learn more about this May 26th event or to register simply click here: SIGN ME UP MARK
… (4 comments)
|
NAR's Success With Keeping Banks Out Of Real Estate.......Really? - 05/07/11 01:54 PM
Via Bryant Tutas-Tutas Towne Realty, Inc:
Hi folks. In 2001, the Federal Reserve Board and the U.S. Treasury Department proposed rules allowing national bank conglomerates to engage in real estate brokerage and management. The rule would have reclassified these activities as financial in nature.
The National Association of Realtors was dead set against this and used their powerful lobbying force to fight.
NAR's position was that.....
"Allowing large, national banking conglomerates into real estate would create anti-competitive and anti-consumer concentrations of power within the industry." Read full article
On March 11, 2009, President Obama signed into law the FY2009 … (0 comments)
|
Is now the best time to buy? What do you think? - 05/07/11 11:13 AM
Is Now the Best Time to Buy? - The Real Estate Cycle analyzed. It always pays to know what the other side is thinking.
… (1 comments)
|
Just how bad are peoples credit scores? - 05/06/11 03:29 PM
25 percent of Americans now have a credit score below 600. The personal habits necessary to avoid or repair this problem are not always obvious.
… (1 comments)
|
3 bedrom 3 bath HUD Foreclosure No HOA - 05/05/11 02:37 PM
Type in your SEO text here... … (0 comments)
|
Credit reports may now pulled at time of funding - House may not fund! - 05/05/11 01:34 PM
Clients believe that once documents are signed at title that's it they are free to go and get that new appliance or bedroom set so it can be delivered in time for their moving day well...Can the pursuit of saving a few dollars by opening a new credit account actually cost you your home? Take a look and see.
… (4 comments)
|
Buy Gold or Buy Real Estate? - 05/04/11 08:39 AM
Buy Gold or Buy Real Estate? - Gold's been pretty popular for the last couple years while Real Estate has not - does this spell opportunity?
… (2 comments)
|
3 bedroom 2.5 bath Grayhawk Townhome Scottsdale - 05/03/11 01:48 PM
As you enter the front door of this Gated Grayhawk 3 bedroom 2.5 bath Townhome in Scottsdale AZ you immediately notice the souring ceilings give an open airy feeling. The great room floor plan allows home to feel larger than it's 2161 square feet. This 3 bedroom 2.5 bath Grayhawk Townhome in the Raptor community of Scottsdale offers spacious master suite is down stairs with an exit to a covered patio in this Gated Grayhawk Townhome Scottsadale AZ. The beautiful kitchen features lots of cabinets, granite counters, black appliances and a breakfast bar for entertaining. In this 2161 square foot 3 … (0 comments)
|
Geopolitics Have Mortgage Rates Poised To Change - 05/03/11 10:37 AM
Among the most challenging aspects of shopping for a mortgage is how rates change constantly. It's hard to pin them down.
For example, in 2011, mortgage rates have expired every 3-and-a-half hours, on average. That's fast.
There's two main catalysts for changing mortgage rates.
The first can be grouped as "scheduled events"; the planned release of market data which includes the Existing Home Sales report, or a scheduled government statement such as when the Federal Open Market Committee meets. When the outcomes of these event-types either exceed, or fall short, of Wall Street's expectations, mortgage markets react.
Home buyers and rate shoppers … (0 comments)
|
What's ahead for Mortgage Rates this Week - 05/02/11 09:18 AM
Mortgage markets improved last week overall. Bigger concerns for Eurozone debt combined with lesser concerns for domestic inflation to push U.S. mortgage rates lower.
Last week marked the 3rd consecutive week through which conforming mortgage rates dropped, the longest such streak since February.
Mortgage rates in Phoenix are now scraping their lowest levels of the year.
A few interesting stories developed last week.
First, the Federal Open Market Committee met and voted to hold the Fed Funds Rate within its target range of 0.000-0.250. In its post-meeting press release, the FOMC said that inflation has been “pushed up” in recent months, … (0 comments)
|
FHA Loans Demystified - 05/01/11 11:59 AM
Arizona FHA Loans Many prospective homeowners may have heard about FHA loans but not quite be sure exactly what they are, or how they differ from other private mortgage loans. Here are some of the basics you need to know about FHA loans to decide whether or not they might be the right home loan product for you.
What exactly is an FHA loan?
The FHA – The Federal Housing Administration – was created as a part of a piece of legislation called the National Housing Act of 1934. After the collapse of the banking system in the years prior to the act mortgage loans became almost impossible to obtain. The purpose of the FHA was … (2 comments)
|
Connect. Share. Learn.Welcome to ActiveRain, the #1 social community for real estate professionals.
;)
;)
;)
