Phil DePasquale's (sedonarrealtor) Blog

H.R. 3221, the "Housing and Economic Recovery Act of 2008," passed the House on July 23, 2008, by a vote of 272-152. On Saturday, July 26, 2008, the Senate passed the bill by a vote of 72-13. The President signed the bill on July 30, 2008. The bill includes the following provisions: GSE Reform - ...

According to numbers released by MortgageDaily.com, Wells Fargo has taken over the top spot for the largest mortgage lender in the second quarter of 2008.    The San Francisco-based bank and home loan lender pushed Countrywide out of first place by funding a whopping $63 billion during the second...

In news just released, the Treasury and the nation's four biggest banks on Monday said they will kick-start a market for an investment product to support home financing in the latest effort to spur a slumping housing market.    Bank of America, Citigroup , JPMorgan Chase and Wells Fargo said they...

The Senate voted overwhelmingly on Saturday for final approval of a huge package of legislation that includes an ambitious program to save hundreds of thousands of families from losing their homes to foreclosure. The housing legislation is the latest in a series of extraordinary interventions thi...

This elegant older home is in need of a facelift to restore it's earlier elegance.  The 2/3 home has a wonderful great room with floor to ceiling windows, two fireplaces, courtyard, swimming pool and spa and rear lot that can accomodate guest house.  Home has had recent inspection and is in good ...

Private mortgage insurance companies are further restricting guidelines on loans that they deem acceptable for them to insure (mortgage insurance is, typically required on any conforming loan over 80% LTV).  To satisfy new requirements; conforming loan transactions with Loan-to-Values greater tha...

Sedona Visitor Statistics  Approximately 80% of our visitors come from the Phoenix area, Las Vegas, Tucson or Southern California.  About 6% come from outside the United States.  The average household income of our visitor is a whopping $106,000.  The average visitor is between 35 and 54 and our...

New Developments Around Sedona L'Auberge de Sedona was recently purchased by Al Spector - current owner of Amara Creekside Resort (L'Auberge's next door neighbor).  Mr. Spector plans to add 30 new guest room cottage units, an arrivals building and a 2 level parking garage.  Also planned re 5 uni...

The number of homeowners facing an increase in their subprime adjustable-rate mortgage payments will peak this summer, testing the efforts of lenders and others to keep those people out of foreclosure and stabilize the housing market. The timing reflects the height of subprime lending in the summ...

Well, it is official, as of Tuesday July 1st, Countrywide is no longer.  By mid 2009, all business will be done under the Bank of America corporate umbrella.  This merger for approximately 2.5 billion dollars, much less than the 30 billion dollar offer B of A was mulling over a year ago.  This me...