arizona: More Mixed Signal About the Housing Market - 02/22/12 09:47 PM
Just as I posted the previous blog, I received this article from DSNews. It underscores the confusion about where the housing market is heading by citing a number of factors that need to be considered before making any assertions that the market has truly "turned the corner" or not.
Very interesting "short read" that shows that the "experts" are as confused as we are!!!
 
http://bit.ly/xSx24z
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arizona: Housing Recovery Finally Here? - 02/22/12 09:39 PM
Time magazine reports that there are a number of indicators that point towards a housing recovery in spite of the fact that many experts warn that we have not yet hit bottom. The indicators they mention seem to make some sense but I am still concerned about the number of foreclosures yet to be released by the lenders as well as the high number of homeowners that are 30,60,90 days delinquent.
It is a very confusing housing market and I can only report first hand on what I see in my community of Maricopa Arizona. We now have only 173 homes … (1 comments)

arizona: Maricopa Arizona Homes for Sale Market Update 22FEB12 - 02/21/12 08:33 PM
The downward spiral of homes for sale in Maricopa Arizona continues as inventory of available homes is now at 181!! At some point very soon I would expect this number to “bottom out” but the impact from seasonal buyers may keep this from happening in the near future. Single level homes are particularly scarce and, as of this morning, there are only 12 homes, not including short sales, that are priced below $90,000 in all of Maricopa!!
If you are a buyer and are waiting to see if prices will return to last year’s values, you may be in for a … (1 comments)

arizona: Arizona Claims Top Spot in Mortgage Fraud - 02/19/12 09:53 PM
In this article brought to you by DSNews, Interthinx released fourth quarter numbers that show Arizona passing Nevada as the riskiest state. Phoenix AZ was also mnetioned as one of the top three cities withproperty valuation fraud. Property valuation fraud occurs when a property’s value is manipulated to create false equity.
Read the full article here http://bit.ly/xNNTaM
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arizona: State Attotney General Litigation May be Nearing Settlement - 02/07/12 01:44 AM
This ongoing saga may FINALLY be coming to an end as the deadline for a settlement was extended until next Monday. 40 states have already signed on for a settlement that reportedly will have the lenders paying around $25 billion. Most of this money will go towards principal reductions.
It remians to be seen what impact this will have on distressed homeowners and the "shadow" inventory. Although the proposed $17 billion in principal reductions sounds like a lot of money, there are a LOT of distressed homeowners to spread it around to. Also, it remains to be seen just how this program will be … (1 comments)

arizona: Government Triples Lender Incentives for HAMP Principal Reductions - 01/28/12 12:40 AM
Distressed homeowners in Maricopa Arizona may see some relief in the form of principal reductions. But don't hold your breath!
The Obama administration announced that they are making a few changes in the HAMP program. Among them is tripling the incentives they offer to investors that agree to reduce principal. In addition, they are allowing second motgages to be factored into the mortage payment to income ratio. Investors also may find some relief as rentals will also be allowed into the program.
How much these changes will actually help homeowners remains to be seen due the the ineffectiveness of the program in … (3 comments)

arizona: Maricopa Arizona Homes for Sale - Updated Market Report 14JAN - 01/13/12 11:21 PM
Over the past six months, the inventory of single family homes in the subdivisions of Maricopa Arizona has more then doubled, from 440 to over 970. Most of this increase is due to an influx of distressed homes, both short sales and foreclosures. This has occured in spite of the buying activity the buying acticity has remaining relatively steady. The foreclosure moratorium has slowed down the increase over the past two weeks but it is expected to resume as soon as the investigations are finished, most likely after the first of the year.
For buyers of homes in Maricopa, this represents … (0 comments)

arizona: Hamp Modifications on the Upswing - 01/10/12 01:17 AM
According to this article published by DSNEWS.com, the Treasury Department reported that nearly 910,000 homeowners have received a permanent HAMP modification to date, saving an estimated $9.9 billion in monthly mortgage payments.
I have been rather skeptical of this program in the past but it appears that the recent rule changes and streamlining of the system are having some impact. I still tell my homeowners not to "bank" on it (a little joke there!) but at least it seems to be a viable option. If, in fact, the modification fails or is not good enough to make financial sense to the … (2 comments)

arizona: Maricopa Arizona Homes for Sale - Market Update 5JAN - 01/05/12 12:46 AM
Happy New Year everyone! The homes for sale market in Maricopa Arizona promises to be a "wild ride"! Inventory continues to edge downward though not at the pace that I expect to happen very soon. I have lived in Maricopa AZ for over nine years and every year come 2JAN it is like "flipping a switch" as seasonal buyers begin to pour into our small community. We already have numerous appointments booked for the first couple of weeks of JAN and expect a lot more to be on the books this week.
This year, unfortunately, the inventory is about 1/4 of … (0 comments)

arizona: Big Four Lenders on Board with HARP Refi Program - 12/30/11 02:22 AM
DSNwes reports that Bank of America, Chase, Citigroup and Wells Fargo have agrred to participate in the new HARP program. This program, expected to be rolled out in FEB or MARCH will allow homeowners with Freddie Mac or Fannie Nae backed mortagges to refinance. The good news about this program is that there are few restrictions, except that the homeowner has to be current on their payments or only missed one (but not in the past 6 months).
This could be great news for many distressed homeowners but keep in mind that this is a government program and we all know … (2 comments)

arizona: Bank of America Considering Principal Reductions - 12/30/11 02:15 AM
In this article by DSnews, Bank of America id considering writing off some of the principal on mortgages where the owner can prove a financial hardship. Apparently the settlement talks with the State Attorney Generals have stalled and they are bringing this to the table to in hopes to finally reach an agreement. Of course, they want all liability waived.
Although this could be a great thing for distressed homeowners that would like to stay in their homes, it irritates me that they only way that the lenders will finally consider doing what has been common sense all along is under … (7 comments)

arizona: Delinquent Loans on the Rise in Maricopa Arizona - 12/20/11 01:22 AM
Here is an interesting article recently posted by DSNews.com. As I have mentioned previuosly, the homes for sale market in Maricopa Arizona hinges on distressed properties. At last count, there were over 300 homeowners that are delinquent on their mortage payments. Most, I'm sure, will decide to short sell or let their home go to foreclosure. Given the fact that the inventory of Maricopa AZ homes is at an all time low, what these homeowners decide to do (and when) will determine a lot going forward.
Although there are options available, including the roll out of the Fannie and Freddie refi program, I have found that most homeowners … (0 comments)

arizona: Delinquent Mortgages Rise in November - 12/19/11 02:33 AM
The number of distressed homes for sale in Maricopa Arizona may be on the rise over the next 3 - 6 months. According to a first look report from Lender Processing Services, the number of delinquent mortgages in November rose to 8.15% from 7.93% the prior month.
That delinquency rate as a percentage of the LPS database of 40 million mortgages declined nearly 10% from a year earlier. About 4.14 million homes were 30 or more days past due in November, with about 1.81 million properties more than 90 days past due. LPS considers a mortgage delinquent when it's at least … (0 comments)

arizona: Maricopa Arizona Homes for Sale - Market Update 12DEC - 12/15/11 11:32 PM
Not a lot of change this week as the market has stabilized a bit. Although home buyers continue to enter the marketpalce, they are doing so at a slow pace most likely due to the upcoming Holidays. Of particular note is the fact that short sale continue to enter the market. It would appear that many homeowners have decided not to wait until after the Holidays to list their homes.
Another interesting note is that we are finding it increasingly difficult to find homes for buyers that are using financing. Prices remain high an appraisal issues are a major concern. For … (2 comments)

arizona: Maricopa Arizona Homes For Sale Weekly Market Report 28NOV11 - 12/05/11 01:16 AM
Inventory of subdivision homes for sale in Maricopa Arizona slid approximately 5% from last weeks number. This is mostly due to dseasonal buying activity although we are also seeing a number of Maricopa AZ homeowners taking advantage of the low prices and upsizing. It's interesting to note that most of the numbers on the spreadsheet did not change much which tells me that there is a lot of activity in the investor home market (which are difficult to seperate out due to the various ways that agents list these homes). We are also seeing an increased amount of traditional sales.
 
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arizona: Shadow Inventory Now at Over 40 Months - 11/02/10 02:12 AM
There has been a lot of debate about the amount, and even the existence, of shadow inventory. For the unitiated, this is inventory of foreclosed homes that the lenders, for whatever reason, have not yet decided to release onto the market. Many feel that it also should include homes that have not yet received their Notice of Trustee Sale even though they are well past three months deliquent.
Regardless of how you felt in the past, I think we all have to agree that with the current foreclosure moratorium being imposed by some major lenders, this inventory is a reality. The shocking … (2 comments)

arizona: Maricopa Arizona Weekly Housing Market Update - 11/02/10 01:51 AM
Every Monday, I update a list that I started back in April 2010 in order to track the Maricopa Arizona housing market. Since I only deal with real estate in the Maricopa Arizona market, I watch these numbers closely. That being said, I noticed a huge shift in the market in the Spring of this year and decided to start a speadsheet to better keep on eye on any trends that develop. The numbers are not necessarily exact as I have to rely on Realtors properly posting their listings and listing traffic accurately. However, I use the same set of criteria … (0 comments)

 
Bill "Waz" Wasowicz (Wizards of Waz Real Estate)

Bill "Waz" Wasowicz

Maricopa, AZ

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Wizards of Waz Real Estate

Address: 21621 N. Backus Drive, Maricopa, AZ, 85138

Office: (520) 840-0185

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We live, work, play and know the Maricopa area. We specialize in Short Sales and Foreclosures and love to help any buyer find the right investment or any seller conduct their sale properly and in the right time. Contact us anytime for updates in listings and the latest in short sales and foreclosures in Maricopa AZ homes.


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