maricopa homes: Maricopa Arizona Homes For Sale - Weekly Market Report 28MAR - 03/29/11 01:58 AM
Inventory of homes for sale in Maricopa AZ continues to decline. Single level homes in particular are becoming scarce. Heavy seasonal buying activity continues and is expected to last for at least another month.
You can read more about the Maricopa Arizona housing market in my weekly market update at http://bit.ly/hIwA9c
 
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maricopa homes: Double Dip Looming for Homes in the West - 03/10/11 12:16 AM
In this article, Clear Capital's Home Data Index Marketing Report the "prices in the West dropped 4.5% between December and February while prices in other parts of the nation leveled out. In addition, Clear Capital reported that eight of the 15 lowest performing markets are in the West."
Actually, prices have hel fairly steady in the Maricopa Arizona home market mostly due to the strong buying presence of seasonal buyers (snowbirds). Unforunately, the lenders have been slow to release their backlogged (shadow) inventory and, until last week, the inventory of subdivision homes in Maricopa AZ has been dropping steadily since SEP … (0 comments)

maricopa homes: Fannie May Wants More Money From Treasury - 02/25/11 01:38 AM
Read, Taxpayers instead of Treasury. Although I'm "excited" that Fannie has narrowed it's quarterly losses to a little over $2 billion, I'm not for giving them any more money. Between the GSEs, HAFA and HAMP, the government has done a miserable job trying to manage the housing crisis. They need to get out of the housing business now and let the cards fall where they may.
http://bit.ly/ew9ZbN
 
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maricopa homes: Maricopa Arizona Housing Market Update - 02/22/11 11:21 PM
Every week, I post a review of the housing market for Maricopa Arizona subdivision homes. This past week, inventory levels continue to drop amid strong seasonal buying activity and the lack of new inventory release from the lenders' backlog of foreclosures As a result, values have remained steady and, in the case of single level homes in the desirable subdivisions, values have actually increased a bit.
Read the whole report at http://bit.ly/gvTf6K
 
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maricopa homes: HUD Targeted for More Than $1 Billion in Cuts - 02/15/11 03:02 AM
This article outlines a few of the proposed budget cuts to HUD. In particular it mentions cuts to the Development Block Grant program and Neighbor Works.
The Development Block Grant program cuts are minor and I, for one, am glad to see that. In our small community of Maricopa n, these grants are vital to our local non profits and the money has been put to good use.
The Neighbor Works program, which provides housing counseling, is proposed to be cut by more then half. As far as I am concerned, this is a good move and it can be eliminated … (2 comments)

maricopa homes: GSE Reforms to Squeeze Out Small Banks?? - 02/14/11 02:31 AM
I found this article pretty interesting as it came from a point of view I hadn't thought of. Obviously GSE reform has many ramifications no matter how it is accomplished but I hadn't thought about the fact that it might do exactly what the author mentions: shift all lending to a few mega-lenders with very few options.
Being very wary of the government, Wall Street and lenders in general, it makes me wonder if there is an alterior motive in all this.
http://bit.ly/heXeMm
 
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maricopa homes: First Salvos Fired at the Obama Overhaul Plan - 02/12/11 02:01 AM
A good article that outlines how everyone is lining up in response to the Obama plan to phase out Fannie and Freddie. The major concern seems to be that it will affect the affordability of home ownership. Given the housing mess and everthing that caused it, is that such a bad thing?
First of all, if the cost of home ownership goes up, it might eliminate some of the people that maybe shouldn't be considering buying a home in the first place. Sorry to sound heartless but too many people have gotten into trouble "pushing the envelope" for a home mortagage. I'm all … (2 comments)

maricopa homes: Monday's Cup Of Coffee - Weekend News 7FEB - 02/07/11 12:19 AM
A summary of the new that hit HousingWires desk over the weekend.
One of the more intersting tidbits this week is a list of commercial and multi family loan servicers by volume in 2010. Wells Fargo easily leads the way with $451.1 billion. They were followed by PNC/Midland ($337.4 billion), Berkadia ($194.9 billion) and Bank of America ($126.6 billion).
http://bit.ly/hQvp7S
 
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maricopa homes: Phoenix Arizona Home Sales Rise to Record Levels - 02/02/11 11:55 PM
The Greater Phoenix area home sales in December rose 25% over November and was the highest level for a December in five years. Foreclosure resales represented over 56% of the sales which is no surprise as Arizona ranks second only to Nevada in the persentage of foreclosed homes.
It is also very interesting that this article mentions that absentee buyers represented over 44% of the sales, the highest level in a decade. Though the article says that these are mostly investors, I have found that in Maricopa Arizona a large number of these absentee buyers are "snowbirds" (seasonal residents.
http://bit.ly/etAGbl 
 
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maricopa homes: Maricopa Arizona Weekly Housing Market Update - 31JAN - 02/01/11 12:32 AM
The latest numbers show that inventory continues to decline due to strong buyer activity coupled with the lack of the expected surge in short sales and foreclosures. As a result, values are holding fairly steady for the time being. The big question is: What are the lenders going to do with their backlog of foreclosures caused by self imposed and Holiday moratoriums?
Read the full story on my website blog.
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maricopa homes: This Week's "Cup of Coffee" - 31JAN - 01/31/11 12:17 AM
A weekly look at the weekend's news wire, brought to you bu=y HoussingWire.
The most interesting news is that Regulation Z becomes effective today. hTis is a monthly payment disclosure within mortgages that is similar to the one imposed on credit cards awhile back. The full paymnet shcdule of loans, along with the corresponding intest rates musy now be disclosed to the borrower rather tha just the patment amount.
The more disclosure the better in my opinion and this will be particularly helpful to borrowers with ARMs.
http://bit.ly/dIDXva
 
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maricopa homes: Bill Introduced to Eliminate HAMP - 01/28/11 08:19 AM
Reps. Jim Jordan (R-Ohio), Darrell Issa (R-Calif.) and Patrick McHenry (R-N.C.) introduced a bill to eliminate the HAMP program citing that "HAMP is a colossal failure". This comes on the heals of another bill that was introduced to elimante funding to HUD.
It would appear to me that this is just "party politics" to keep the pressure on the Obama administration to do something about the government's involvement in the housing market. As we all know, a report is expected out soon on Obama's plan for Freddie and Fannie.
Apparently, the State of the Union address asking for party unity is … (2 comments)

maricopa homes: Freddie and Fannie - What to Do?? - 01/28/11 12:33 AM
This is a very complex issue to be sure so I read (and forward) any interesting article about the impending decision on the future of Freddie and Fannie. This particular article has some easy to understand explanations of the problem and offers at least one possible solution.
It appears that lenders would be unwilling to make loans if they aren't insured cheaply by the government backed entities. Okay, I can understand that. But since it appears that the major lenders seem to be thriving in the current housing market, why not charge them more this this insurance?
Definitely food for thought.
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maricopa homes: Bank of America Foreclosure Blocked by Court - 01/28/11 12:23 AM
This short article does not offer a lot of details but it is interesting to note that this is occuring in a non judicial state. The courts ruled against a similar injunction in the state of Utah in 2010 but it makes me wonder if this is the start of a wave of lawsuits against lenders.
I don't begin to understand the legal basis of lawsuits like this and whether or not it is just an attempted "money grab" by attorneys. But any pressure that can be kept on the lenders and their servicers is welcome by me.
http://bit.ly/eMn7bj
 
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maricopa homes: Pat Attention to Your Listing Pictures - 01/27/11 05:19 AM
I ran across this article and it got my juices going because it is my number one pet peeve I have with my "peers". I don't know about the areas that you work in, but the Greater Phoenix area, Maricopa Arizona in particular, is a perfect example of realtors (and I use the term lightly) being either too lazy or too uneducated (I was going to say stupid) to post quality photos that are representative of the property.
Only recently did our MLS require at least one photo, that being a shot of the home from the street. Before then, there … (3 comments)

maricopa homes: Mortgage Investors "Duped" by False Owner Occupancy Claims - 01/22/11 01:42 AM
I have a hard time feeling sorry for these guys because, in many cases, it was their greed that helped fuel the housing market collapse in the first place. In addition, let's take a look at the folks making the loans. Many of them weren't even verifying income. You think gave a rat's ... about whtehr or not the home would be owner occupied.
Way too many heads turned the wrong way!
http://bit.ly/h30UoR 
 
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maricopa homes: Maricopa Arizona Home Report - 17JAN Weekly Housing Report - 01/21/11 02:26 PM
Maricopa Arizona Home Report - 17JAN Weekly Housing Report
Here are the new numbers and my take on them.
ACTIVE: 784, down from prior week of 796. The wait for the release of pent up lender inventory continues. With the number of new listings remaining relatively steady,very strong buyer activity has caused this number to continue to decline. I've said it before and I'll say it again, this trend will not continue regardless of buyer activity. Expect the release of excess inventory to begin soon and the number of actibe listings to return to mid-2010 levels. It's just a matter of time.
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maricopa homes: Home Buyers Looking for Affordability - 01/21/11 01:12 AM
This aricle does offer a lot of surprises but it underlines the reason the home sales in Maricopa Arizona have been brisk. The abundance of short sales and foreclosures have fueled a buying sree that reminds of of the boom years of 2003 - 2005. During those years, homebuyers turned their attention to our small community because it was the most affordable within commuting distance of the Greater Phoenix area. The old adage "drive till you qualify" rang true!
Currently, there is a little different twist. The majority of buyers are from out of state or local investors. Seasonal residents have … (0 comments)

maricopa homes: More Than Half of Foreclosures Came from Five States - 01/15/11 11:59 PM
This article predicts, as expected, that there will be over 1.2 million foreclosures in 2011. This would break the record of 1 million in 2010. It also points out that more than half of the foreclosures in 2010 came from the states of California, Florida, Arizona, Illinois and Michigan.
Since I live in Maricopa, Arizona I expect the trend to continue well into 2011 as nearly one in seventeen homes received a foreclosure filing last year and the 30-60-90 day delinquent list that I use to target short sales shows that an increase in this ratio can be expected.
Hopefully the … (1 comments)

maricopa homes: Foreclosures to Increase in 2011 - 01/13/11 12:15 AM
This article from RealtyTrac offers me no surprises. They use data from a number of different sources to project future housing market trends,. My only argumnet is that, where they feel that foreclosures will increase slightly in 2011, I feel they will increase substantially in my market of Maricopa Arizona.  There are still far too many distressed homeowners for this problwm to go away soon.
http://bit.ly/hBc29F
 
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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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