Phil DePasquale's (sedonarrealtor) Blog

T'was the night before Christmas, when all through the town The realtor's were walking about with a frown; The listings were placed in MLS with care, In hopes that some buyers soon would be there; The families were snuggled all snug in their beds, While visions of foreclosures danced in their hea...

Red Rock Canvas Event is Building Momentum  Sedona's 1st Annual city-wide arts and culture event is building momentum. The city will come alive through the arts November 7 - 9 with the Sedona Gallery Association's "Red Rock Canvas - The Event".Purchase tickets now for the pinnacle of the weekend ...

Member Discounts    Pink Jeep Tours Offers Fall Tour SpecialFall is in the air, but don't think orange and brown -think Pink! For the month of October, receive 20% off adult prices on the Scenic Rim Tour with Pink Jeep Tours. The Scenic Rim Tour takes guests 2,000 feet from Sedona to the very to...

Mortgage rates recently surged to their highest point in eight weeks as spreads between mortgage rates and Treasury yields widened, according to the latest weekly survey from Freddie Mac. The average 30 year fixed rate increased to 6.46 percent for the week ending October 16, after averaging 5.94...

As most of you have heard, the Treasury announced Tuesday that it plans on infusing as much as 250 billion dollars into major U.S. banks.  This program is voluntary and is called the "Capital Purchase Program".  The major aim of this program is to buoy struggling banks and restore the flow of cre...

I will note before proceeding with this that the $40 billion in total purchases will be distinct from the economic efforts of the $700 billion federal program. As many of you know, as of Sept. 7th of this year Fannie Mae and Freddie Mac were put into a conservatorship directed by the Federal Hous...

Mid Atlantic Capital LLC - Closing Its Doors Another sizable lender implodes.  Mid Atlantic Capital LLC, an NJ based lender and doing business on the East and West coasts, including Arizona, Massachusetts, California, Nevada, Maryland, Maine, New Hampshire, Connecticut and Maine, is closing its d...

Q: How do you feel about the proposed bail-out of Wall Street, which is estimated to cost 700 billion dollars?   "My only comment on the Bail-Out is WHEN are they going to help the tax payers that they expect to repay this "loan", and WHEN are they going to arrest and take the assets of the CEO's...

Some FHA Lenders Becoming More Aggressive It is estimated that three-quarters of all loan applications currently being originated for the purpose of purchasing or refinancing are being submitted for FHA underwriting approvals.  A great number of these are being declined due to more strict governm...

 Fannie Mae and Freddie Mac SubpoenaedAfter accounting scandals forced Fannie Mae and Freddie Mac to restate billions in earnings earlier in the decade, the two companies announced they now face a federal grand jury investigation into their accounting practices and corporate governance. In 2003, ...