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What Our Presidential Candidates Feel About "The Takeover" - 09/13/08 11:07 AM
The government (Treasury, at this point), will receive warrants representing ownership stakes of 79.9 percent in each company, and is hoping that its moves will reassure nervous investors that they can continue to buy the debt of the two companies. The Treasury in turn will, also, purchase the GSEs' mortgage-backed securities until December 2009.Shortly after the announcement of the newly formed conservatorship, Democratic presidential nominee Barack Obama issued a statement agreeing that some form of intervention was necessary, and promised, "I will be reviewing the details of the Treasury plan and monitoring its impact to determine whether it achieves the … (0 comments)
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Minimum Credit Scores Dropped - 09/13/08 11:06 AM
Minimum Required Credit Scores (FICOS) Dropped
Effective as of Monday, there are a handful of mortgage lenders that have done away with (at least momentarily) the requirement for a minimum credit score requirement.
This ban of a minimum score applies to FHA Streamline Refinances and VA Interest Rate Reduction Refinance Loans (IRRRL).
The move is expected to aid thousands of homeowner's holding FHA or VA loans that have tried in recent months to refinance their mortgages to lower fixed rate loans and have run into the previously mandated 580 minimum credit score.
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The Government Takeover of Fannie and Freddie-What Does It Mean? - 09/13/08 11:03 AM
What the Government Takeover of Fannie Mae and Freddie Mac Means to Housing Industry
In short-term, home sales should improve as mortgage rates fall
Washington, D.C. (September 8, 2008)-The federal government's takeover of secondary mortgage giants Fannie Mae and Freddie Mac should cause a drop in mortgage rates in the short term that benefits home buyers, but the long-term outlook is too early to call. NAR fully supports the action of the U.S. Treasury and the Federal Housing Finance Agency.
The federal government had no choice. The capital situation of the two companies was not enough to handle … (0 comments)
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Sales Statistics for Sedona to Date - 09/01/08 06:07 PM
The Real Estate Market remains sluggish as foreclosures and short sales continue to hit the market. Once these distressed properties are absorbed, the market will begin to stabilize.
Stats from Jan. 2008 - June 2008 Average Home $558,000 - 139 Sales Busiest month - May / Slowest - January
Current Stats: There are currently 531 Active Residential Listings in Sedona. 402 Homes are listed under $1M and 129 are $1M or above. There are currently 398 Active Lot Listings in Sedona. 366 Lots are listed under $1M and 32 are $1M or above.
Month of Januray:
13 Residential Home Sales … (0 comments)
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LOWERED AGAIN!! Take a good look- 3000+ Pool Home on 1 1/2 acres-VIEWS - 09/01/08 05:26 PM
LOWEST PRICED HOME ON OVER 1+ ACRES IN SEDONA! CLASSIC SEDONA POOL HOME ON 1.5 ACRES with 3072 s.f. in the heart of Sedona, AZ. Located in Yavapino Estates this home reminds you of early elegance. Great Room with floor to ceiling windows that embrace the outdoors with fireplace. Formal Dining, Master Suite and Guest Suite with private deck. Swimming pool and spa, fenced yard and beautiful views. Corner lot with room to build guest house in rear. Neighborhood has new paved roads and hook-up to city sewer. Offered NOW at $645,000 WEBSITE: http://www.35BellRockTrail.com PRUDENTIAL, Phil DePasquale - Assoc. Broker 928.399.9902
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Phil DePasquale
Sedona,
AZ
More about me…
Sedona Elite Properties Management, Inc.
Address: 1725 W. Hwy. 89A, Suite 6, Sedona, AZ, 86336
Office Phone: (928) 282-6969
Cell Phone: (928) 399-9902
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