real estate: Agents in Phoenix: Mortgage Seminar For You! Stay On Top of It.... - 04/16/08 05:34 PM
The mortgage market is dramatically different these days. As an agent you can not be caught off guard when you're working with potential buyers. There have been so many (literally every week) changes to loan programs that you owe it to your business to stay on top of it. That is why you must attend the Hot Mortgage Topics Class next Wednesday April 23 at 9AM.
I, a.k.a. The Arizona Mortgage Guru will be covering the latest issues regarding home mortgage financing. I will discuss the hot mortgage topics to help you get more buyers and sell your listings!FHA Loans - how … (10 comments)
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real estate: Renters Fight Back - 04/15/08 02:44 PM
Watch this video and let me know what you think....
Questions to ponder: Is it fair to have tax payers pay to bail out people who made poor financial decisions? What about the fact that some of the people who are in trouble didn't actually realize what they were getting into and just jumped in on the bandwagon? My full take is at AzMortgageGuru.Com. … (7 comments)
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real estate: Mortgage Blog Provides Answers For Canadians Purchasing Property in USA - 01/29/08 11:47 AM
The mortgage market in Phoenix, Arizona changes all the time. If you are a Canadian national seeking some mortgage information to purchase a home in the US then things can get pretty confusing really fast. At the Arizona Mortgage Guru Blog I try to maintain the most current information for you the consumer. In that spirit here are links to some very important articles for Canadians seeking to purchase real estate in the United States:
Do Canadians Need a Visa to Purchase US Real Estate?: Most loan programs require a copy of your Canadian passport or drivers license, but read on to learn more...Canadians Could Make a … (8 comments)
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real estate: American Real Estate in Foreign Currency - Canadian, Euro and British Pound - 10/29/07 04:26 PM
Anticipating a rate cut, the dollar lost ground to the Euro today - reaching it's lowest point ever. The US dollar also continues to lose ground to the Canadian dollar - reaching a low it hasn't seen since 1974.
It may not seem good news to many, but for those in the export business, this is very good news. And Real Estate is an American product which can be "exported". Canadians and Europeans have shown that they love to buy a little piece of the Untied Stated. And today, American real estate is much cheaper when you look at it from their eyes.
Below, I have graphed … (4 comments)
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real estate: Carnival of Real Estate 65th Edition - Hosted by the Arizona Mortgage Guru - 10/29/07 01:31 PM
For those not familiar with the Carnival of Real Estate - the basic idea is for one blogger to evaluate blog posts and then present the top entries for that week. It is a weekly "competition" of sorts and offers a great venue for learning about other bloggers and imitating their success. At the basic level, CoRE is a great way for the host to learn about new bloggers and a wide range of topics. For the writer, it offers exposure to a a whole new audience and if you are selected that week, the link love can be priceless! A … (5 comments)
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real estate: FHA Loan Program Overview for Phoenix, Arizona Borrowers - 10/25/07 06:05 PM
With the subprime mortgage market pretty much gone, first time home buyers or borrowers with challenging credit may think their options are limited. This is not true. In fact the Federal Housing Administration (FHA) loan is a great program for first time homebuyers, borrowers with low credit scores, and those needing down payment assistance.
So, how do you know if the FHA program is right for you? Well, the FHA loan looks at four elements of the borrower. I call it the four corners of a mortgage.
Credit - This is the first corner. FHA is not a credit score driven system. In fact it's better to have … (3 comments)
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real estate: Mortgage Forgivess Tax Removed and MI Tax Deduction Extended to 2014 - 10/05/07 11:00 AM
The House Ways and Means Committee has passed the Mortgage Forgiveness Debt Relief Act of 2007 (H.R.‚3648) from the Daily Herald:
the House Ways and Means Committee voted to permanently remove the so-called “phantom income” tax penalty that haunts financially distressed homeowners whose debt is partially forgiven by a lender after a foreclosure or a “short sale” to avoid foreclosure.
Also, committee also passed a provision to extend the deductibility of mortgage insurance premiums through 2014. This is also very important and will affect homeowners mortgage choice for a long time. Currently the deduction applies only to loans originated in 2007. … (3 comments)
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real estate: Home Mortgage Lender in Phoenix Arizona, Blog Report: Sept. 28th, 2007 - 09/28/07 12:05 PM
The mortgage market in Phoenix, Arizona changes all the time. If you are researching for a home mortgage lender in the area then you need to look at the Arizona Mortgage Guru Blog. This blog has great articles on how to manage your credit, tips for obtaining a mortgage and a whole range of other articles.
As a snap shot here are some of the recent articles which may interest you:
How to Protect Your Credit Score When Your Loan is Sold: Since your mortgage loan will be sold at some point to a different servicer, you need to be aware of … (1 comments)
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real estate: No More Taxes on Forgiven Debt: Mortgage Forgiveness Debt Relief Act of 2007 - 09/27/07 12:17 PM
It may come as a surprise to some but if a mortgage lender forgives debt they send the IRS a 1099 with the amount forgiven. The forgiveness could be a part of a short sale or foreclosure or what have you. So, when tax time rolls around you are obligated to report this forgiven mortgage debt as 1099 income and pay tax. Basically, not only are you having a hard time with losing your home, Uncle Sam wants to pile on a bit.
Well no longer. Uncle Sam is changing the rules.
The US House moved closer towards eliminating this tax on forgiven debt. Here … (3 comments)
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real estate: Craigslist: The Swamp of the Internet. Why Would You EVER Advertise There? - 09/10/07 05:00 PM
Many have posted on Active Rain about the virtues of advertising on Craigslist. In my last count there were over one hundred posts on this topic and the vast majority talk about its advantages. I'm here to say you need to be careful when you advertise your listing on Craigslist. Why? Because, Craigslist is fast turning into the red light district of the Internet. As the New York Times reported last week:
"Craigslist has become the high-tech 42nd Street, where much of the solicitation takes place now," said Richard McGuire, Nassau's assistant chief of detectives. "Technology has worked its way into every profession, including the oldest."
In July raids, … (27 comments)
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real estate: "Closing Escrow" A Comedy About Real Estate - 09/03/07 02:16 PM
I've only seen the trailer of the movie "Closing Escrow" and not the whole movie, so I can't say what the movie is like - if you have seen in please provide a thumbs up or down. Here are some some funny lines I caught: "I like to take a submissive posture with my clients." "I am aware that I am your slave, I work for you." "I guess selling a house was a lot more complicated than I thought it would be." Here is the trailer from YouTube: A better version is available on Apple Movie Trailers here: http://www.apple.com/trailers/magnolia/closingescrow/trailer/ … (3 comments)
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real estate: Mortgage Blog Report Aug 25th: Arizona Mortgage Guru - 08/25/07 12:52 PM
Here is a round up of some posts from the past week on the Arizona Mortgage Guru blog:
Gilbert Housing Report: Stay Put, Be Happy: In this post AMG highlights an article from the Arizona Republic which talked about the Gilbert housing market. This article did touch on a little bit of tax trivia regarding forgiven debt. In case you're curious, the IRS taxes forgiven debt as ordinary income. Read the full post for details.Phoenix Area Borrowers Need Not Worry: There is so much talk of doom and gloom in the mortgage industry right now and people are fearful. However, the average person need … (0 comments)
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real estate: Mortgage Blog Report: Arizona Mortgage Guru - 08/17/07 04:09 PM
Here is a round up of some recent posts on the Arizona Mortgage Guru blog:
Mortgage Market Update: Liquidity Crisis Persists: This is a summary of the recent turmoil afflicting the mortgage industry. This article has some tips for consumers and mortgage brokers on how to best navigate the suddenly unpredictable terrain. Real Estate Blogging Seminar Re-cap: On Thursday August 16h I conducted a real estate blogging seminar for newbies. This post contains the powerpoint presentation used in this seminar. It's freely available for anyone to use.Doing business while driving? Here's a tool you MUST know about!: Jennifer Furrier is a guest blogger … (2 comments)
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real estate: Phoenix Area Agents: Learn the Fundamentals of Blogging - 08/13/07 12:22 PM
Real Estate Blogging SeminarA "How To" Blog Guide for AgentsThursday August 16th, 3-5pm at SEVRAR
Topics Covered:
- How to set up a blog- Intro to the blogging environment- Blog topic ideas - How to market your blog- Intro to social networking in RE- Achieving high search engine rankings- Blogging success stories
Five Reasons to Attend:
1. 70% of all buyers start their home searches online.
2. Many agents run entire business from blogs
3. Websites are soooooo 20th century - and believe me you don' want to fit into a cookie cutter
4. Never argue with success (real stories of real agents closing real deals)
5. Google "Phoenix Real Estate" and I'm confident you'll … (7 comments)
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real estate: Phoenix Event: Real Estate Blogging Seminar - 08/07/07 11:11 AM
Blogging is really becoming more and more a part of my work. I have been asked to speak at the Real Estate Blogging Seminar sponsored by Grand Canyon Title Company. The event will be held at SEVRAR on August 16th at 3PM. This event is geared towards agents seeking to learn the fundamentals of blogging. In the first hour I’ll cover the very basics such as how to blog, when to blog and such. The second hour will be devoted to promoting your blog and building professional online networks.
Please contact Adam Saunders via asaunders(at)gcta.com to R.S.V.P. I look forward to … (1 comments)
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real estate: Mortgage Blog Report: The Arizona Mortgage Guru - 08/01/07 11:28 AM
As you know I maintain an independent blog as the Arizona Mortgage Guru. For those of you who have not been over there in a few weeks, here is a summary of the recent posts:
Honey, Interest Rates Shrunk the Loan : This is a post which has a really cool chart showing how the loan amount decreases for a change in interest rate. For example, if a borrower can handle a $1500/month mortgage payment (not including taxes and insurance) then at a 6.00% interest rate this translate into a $250,000 loan. Click here to read the full article.
Number One Tip for Overcoming a … (0 comments)
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real estate: Rich snobby Realtors who rip me off - 05/22/07 11:44 AM
I was just going over the the National Association of Realtors survey of its members. It was quite revealing. As a Mortgage professional I'm very interested in learning more about Realtors. Here are some of the interesting highlights from the survey:
The demographics:
The typical member is 51 years old, works 40 hours per week and has been in business for seven years..... Nearly six in 10 are women, and the typical respondent has been with their firm for four years. Five percent are under 30 years of age while another 6 percent are 30 to 34 years old; 12 percent are 65 or over. … (8 comments)
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real estate: Lender in Scottsdale, Arizona (AZ) - 05/08/07 01:39 PM
Are you looking for a lender in Scottsdale, Arizona (AZ)? Well you have come to the right place. I am a home loan (mortgage) expert in the Scottsdale area with several years experience as a home mortgage lender. I can also help those in the Greater Phoenix area such as Scottsdale, Gilbert, Tempe etc. Whether you have good credit, bad credit or no credit I can look at various home loan options and provide you with intelligent options. I work for your long term financial success, so you can be sure to receive excellent service! I can help with purchase transaction, … (0 comments)
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real estate: Zillow under fire from Realtors - 04/20/07 06:07 PM
Brian Brady has a really interesting post on the recent “cease and desist” order from the Arizona Board of Appraisers. Read it here. I wrote a brief note on it here. Of course the Blogosphere has been buzzing the past week on this topic.
Brian makes a very good point:
Confident Realtors and lenders know that you, the consumer, have a brain and intend to use it while you pay us the fees we earn. Many of us feel we’re worth what you pay us. I just hope you do.
I couldn’t have said it any better. The Internet has … (6 comments)
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real estate: Foreclosure looming, now what? - 04/17/07 02:27 PM
My wife talked to a "near-client" the other day. She is a "near-client" because we looked at her re-finance application last year and advised her NOT to re-finance her loan or, get a second loan. We told her she couldn't afford it and the situation with home valuation had not stabilized. We warned her that if she did a 100% cash-out there was a good chance she could be up side down in the near term.
Sadly we found out, she rejected our advice and went to a different lender who happily did a 100% cash-out for her. Now she's upside … (3 comments)
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