tucson real estate agent: Coming Soon: What to know about "pocket listings" Tucson, AZ - 06/18/17 05:06 PM

In a recent interview with Judy Lowe, Arizona Real Estate Commissioner,  when asked, “What are the areas of concern for ADRE?” she indicated one of them is “Coming Soon” or a “Pocket Listing,” which is on the rise.  Here is what you must know to avoid Code of Ethics, MLS & Anti-trust violations.  
Coming Soon or Pocket Listing is where you have the listing, a full executed listing agreement, and an Exempt Delay Input Listing form but are just advertising it for sale with a sign and “Coming Soon” rider.  This means that this property – at this time – … (3 comments)

tucson real estate agent: Mortgage Rates for Tucson, AZ October 7th, 2016 + Market Commentary - 10/07/16 07:03 AM
 
Mortgage bond prices finished the week lower which put upward pressure on rates.  Rates were near neutral the beginning on the week but fell mid-week.  The employment data was mixed.  ADP payrolls showed the economy added 154K jobs in September. Economists expected the creation of 171K jobs.  Weekly jobless claims printed at 249K and continuing claims, a summation of all receiving benefits, at 2,025K. Expectations were for claims at 265K and continuing claims at 2,062K.  The heavyweight employment report came in along the same lines as the ADP data.  The Unemployment rate was 5% vs. the expected 4.9%.  Payrolls rose 156K … (0 comments)

tucson real estate agent: Tucson AZ Mortgage Rates + Market Commentary - 09/23/16 02:07 PM
Mortgage bond prices finished the week higher which helped rates fall.  There was some seesaw trading but within a relatively narrow ahead of the Fed meeting Wednesday.  The Fed reduced growth projections for this year and mortgage bond prices rose which pushed rates lower Wednesday afternoon and into Thursday morning.  The data was mixed.  Housing Starts were 1142K versus the expected 1186K. Weekly jobless claims printed at 252K and continuing claims, a summation of all receiving benefits, at 2,113K. Expectations were for claims at 262K and continuing claims at 2,143K.  Existing home sales printed at 5.33M units versus the expected 5.5M … (0 comments)

tucson real estate agent: Mortgage Rates for Tucson, AZ 9/17/16 + Market Commentary - 09/17/16 01:47 AM
Mortgage bond prices finished the week near unchanged which kept rates steady. There was some seesaw trading but within a relatively narrow margin as the possibility of a Fed rate hike in the short term waxed and waned. Fed Governor Lael Brainard made dovish remarks which surprised traders who were prepared for a signal of a rate hike. Producer prices were unchanged versus the expected 0.1% increase. The core, which excludes volatile food and energy prices, rose 0.1% as expected. Retail sales fell 0.3% versus the expected 0.1% decrease. Consumer prices rose 0.2% slightly higher than the expected 0.1% increase. The … (0 comments)

tucson real estate agent: Tracking the Closing Disclosure (CD) from the Lender - 08/26/16 06:00 AM
With TRID,  loan borrowers are not allowed to sign closing documents until 3 days after they have received and signed the Closing Disclosure (CD) from the lender. If a borrower signs the Closing Disclosure on a Tuesday, then the borrower can sign loan documents on Friday. The day the CD is signed counts as the first day but Sundays and holidays do not count.
 
Ask your lender to be notified when the CD is sent to the borrower so that you can make sure the borrower signs the CD in a timely manner. This will increase the chances of on-time closings.
 
Setting expectations … (1 comments)

tucson real estate agent: 8.19.16 Mortgage Update Tucson, AZ - 08/20/16 04:48 AM
Mortgage bond prices finished the week lower which pushed rates higher. Rates started the week higher and ended the week higher with only a slight reprieve Thursday. The NAHB Housing Index was higher than expected. Housing starts were 1211K versus the expected 1180K. Consumer prices were relatively in check. The core rose 0.1% versus the expected 0.2% increase. Industrial production rose 0.7% versus the expected 0.3% increase. Fed members appeared to prep the financial markets for a rate hike this year. New York Fed President Dudley and San Francisco President Williams both talked about a rate hike and Williams said the … (0 comments)

tucson real estate agent: Non-Borrowing Spouse When Applying for a Loan - 07/08/16 03:42 AM
Borrowers are allowed to buy in their sole and separate right even though they may be married. In a community property state such as Arizona, if the spouse is not going to be on title, the spouse will be required to sign a disclaimer deed at Title.
 
Some married borrowers will apply for the mortgage loan on their own but have their spouse on title. This is commonly done when the non-borrowing spouse has unacceptable credit or a much lower credit score than the spouse. It can also happen when the spouse is a foreign national without a social security number.
 
In either … (5 comments)

tucson real estate agent: 7/1/16 Mortgage Rates: Bond Prices Push Rates Lower - 07/01/16 09:24 AM
Mortgage bond prices finished the week higher which pushed rates lower.  Rate movements were limited most of the week but most of the positive improvements came early in continuation of Brexit fallout the week before.  The U.S. economy grew at a 1.1% the first quarter which was as expected.  Consumer confidence was a strong 98.0 versus the expected 93.1 reading.  Personal income rose 0.2%, spending rose 0.4% and core PCE inflation rose 0.2%. That data was near expectations and did not move rates.  A slight stock recovery Wednesday erased some of the earlier MBS gains.  Rumors of the ECB expanding their … (0 comments)

tucson real estate agent: New Graffiti-Abatement Program for Tucson - 06/09/16 04:19 AM
 
Graffiti Removal Program
Report by Phone: (520) 792-CITY (2489) NEW  Knock Out Graffiti Coloring Book Graffiti Prevention & Removal Brochure Submit a request for assistance Prevention Graffiti cannot always be prevented, but property owners and residents can reduce the incidence of graffiti on building exteriors and walls by having good lighting and uncomfortable vegetation in place.
Work with your neighbors, your neighborhood association or home owners’ association to be the eyes and ears for your community.
Enforcement Putting graffiti on public or private property is against the law. If you see someone in the act of “tagging,” call 911. If … (1 comments)

tucson real estate agent: Using Rental Income from a Vacated Home to Qualify for a New Home - 06/03/16 12:49 AM
Lending guidelines have become more lenient in terms of using projected rental income to offset a mortgage payment on a current residence for a consumer who wants to buy another home without having to sell their current home. The consumer needs to produce an executed lease and evidence of receipt of the security deposit. The lender will then typically count 75% of the lease payment toward offsetting the expenses of the home being vacated.
 
Producing a rental agreement for the home being vacated can make the consumer a much stronger buyer since they can then be a non-contingent home buyer and their … (0 comments)

tucson real estate agent: What to Know Using IRA Distributions to Qualify for a Home Loan - 05/20/16 06:34 AM
For consumers of retirement age, scheduled distributions from a retirement account can be used as long-term, stable income and provide a method to insure that the consumer’s debt ratio is acceptable for loan approval.
 
For most loan programs, the consumer must be at least 59.5 years of age and have a set monthly distribution schedule from a retirement account. The consumer must provide evidence of receipt of at least two monthly distributions by closing, the second one an electronic distribution. 70% of the account value must be able to support at least three years of monthly distributions after the initial two distributions.
 
For … (1 comments)

tucson real estate agent: National Do Not Call Registry Vital Info for Agents & Consumers - 05/17/16 07:19 AM
Some real estate agents will call expired, cancelled, or "old" listings.  Agents before you make another unsolicated phone call to consumers make sure to verify the number you’re calling is not registered on the National Do Not Call Registry.
 
Here are some FAQ’s from the Federal Trade Commission
 
What is the National Do Not Call Registry?
The National Do Not Call Registry is a list of phone numbers from consumers who have indicated their preference to limit the telemarketing calls they receive. The registry is managed by the Federal Trade Commission (FTC), the nation’s consumer protection agency. It is enforced by the FTC, the Federal … (0 comments)

tucson real estate agent: Tucson Buyer's Pathway to Purchase - 05/16/16 07:54 AM
Thinking about buying a home?  First thing any potential buyer shouhld do is speak with a local lender, get pre-approved.   Next step?  Find a local Realtor and start a relationship today.
 
This is a new down payment assistance program coming this summer for City of Tucson and South Tucson properties. The program offers fixed rate, 30 year conventional first mortgages up to 95% loan to value with a second mortgage equal to 10% of the purchase price up to a maximum of $20,000. There is reduced mortgage insurance cost for this program.
 
The second loan is at 0% interest with no payments and … (0 comments)

tucson real estate agent: D-M to host Hawgsmoke 2016 Tucson, AZ - 05/16/16 02:27 AM
DAVIS-MONTHAN AIR FORCE BASE, Arizona – The 47th Fighter Squadron, stationed here, will host 15 A-10 teams from around the world for the 9th biennial bombing, missile, and tactical gunnery competition known as Hawgsmoke June 1-3.
 
The competition focuses on tactics the A-10s can apply during combat operations. This year’s event concentrates on two major areas: the tactical massing of fires in minimum time in an opposed environment, and tried-and-true conventional weapons delivery.
 
This event provides the A-10 community an opportunity to train competitively, refine tactical skills, share best practices, and honor the legacy of A-10 pilots from years past.
 
Hawgsmoke 2014 was also … (0 comments)

tucson real estate agent: Mortgage Market Rates & Market Commentary Week Ending 5/6/16 - 05/10/16 02:10 AM
 
Mortgage bond prices finished the week slightly higher which pushed rates lower.  Rates seesawed back and forth throughout the week within a relatively narrow range.  The Institute for Supply Management (ISM), an indication of the health of the manufacturing sector, printed at 50.8, weaker than the 51.4 that was expected.  The ADP employment data showed an increase of 156K jobs in April.  This was lower than the 186K expected increase.  Productivity fell 1% and labor costs increased 4.1%.  Analysts expected an increase of 2.6%.  Weekly jobless claims were higher than expected at 274K versus 259K.  Unemployment stayed at 5%.  Non-farm payrolls … (0 comments)

tucson real estate agent: Longer Closing Times for USDA Loans - 04/22/16 04:27 AM
USDA loans offer no down payment for homebuyers  who purchase properties in outlying areas, such as Sahaurita, Vail and parts of Marana. Income limits for the buyer do apply with a family of four in Pima county having to make no more than $74,750 in annual household income.
 
USDA loans require double underwriting. First by the lender and then by the regional USDA office. The underwriting at the USDA currently is running 10 business days but can vary depending on their work load. You should plan for a minimum of 45 days for these transactions and they can take as long as … (1 comments)

tucson real estate agent: City of Tucson Budget Shortfall - 04/21/16 07:51 AM
 
Tucson City Manager Michael Ortega presented his recommendations to the Mayor and Council on Tuesday, April 19, to close the nearly $26 million budget shortfall for next fiscal year.

The proposed changes include a hiring freeze at the city and elimination of vacant positions. These changes will reduce the city workforce by 236 employees.

There will also be a reorganization of the police and fire departments, increases in bus fares, and reduction in hours of operation for the modern streetcar. Additional proposed changes are an increase in the hotel bed tax, utility tax, and small property taxes.
(0 comments)

tucson real estate agent: New East Tucson 3/2 1,385 Sq Ft Move in Ready $169,900 - 04/19/16 01:21 AM
 
10162 E Rincon Shadows Dr, Tucson, AZ 85748 3 beds 2 baths 1,385 sqft For Sale $169,900 Zestimate®: $161,655 Est. Mortgage$606/mo Please call listing agent Spirit Messingham at (520) 471-6900 if you would like to view this or any property for sale in Tucson, AZ. Excellent opportunity for move in ready, clean three bedroom, two bath 1,385 SqFt with spacious great room, contemporary in East side location. Enjoy mountain views, desirable N/S orientation with private, pristine quiet landscaped low maintenance backyard (no loud busy streets behind) complete with: new carpets in bedrooms, diagonal cut 20 inch tile in kitchen, laminate in great … (2 comments)

tucson real estate agent: New Listing Central Tucson in Historic San Clemente 3920Calle DeJardin - 04/13/16 02:14 AM
 
3920 E Calle De Jardin, Tucson, AZ 85711 3 beds 2 baths 1,832 sqft For Sale $269,900 Zestimate®: $285,275 Est. Mortgage$957/mo     Priced $15K below the Zillow.com "Zesimate". If you have questions or would like to view this property please call Central Tucson specialist listing agent Spirit Messingham at (520) 471-6900. Desirable central location in historic San Clemente. Charming double brick construction w/ concrete drive way, and attached garage. Authentic original hardwood flooring recently resurfaced, spacious living room w/built-in shelves, wired for speakers in many rooms including out in the covered patio for entertaining, wood burning stacked flagstone fireplace. Enjoy the … (2 comments)

tucson real estate agent: Reducing the Cost of a Mortgage for a Couple - 04/08/16 11:05 AM
Couples that has disparate credit scores can lower their costs by having only the person with the higher credit score on the mortgage loan. Both can be on the sales contract and the title to the home.
 
Lenders use the lower of the two middle scores for consumers applying for joint credit. If the difference between the two middle scores is significant, having both consumers on the mortgage can increase the cost of the loan. Using only the person with the higher credit score can avoid this extra cost. The person on the mortgage loan must be able to qualify for the … (1 comments)

 
Spirit Messingham, Third Generation Full-Time Realtor® 520 471-6900 (Tierra Antigua Realty)

Spirit Messingham

Third Generation Full-Time Realtor® 520 471-6900

Tucson, AZ

More about me…

Tierra Antigua Realty

Address: 1650 E. River Road Ste 202, Tucson, AZ, 85718

Office: (520) 471-6900

Mobile: (520) 471-6900

Email Me

Third generation, full-time licensed Realtor, putting my clients' needs first. I work with all of my client's one on one, taking pride in the quality work and services I provide. In the top 1% of all Tucson Realtors by sales volume 2012 - 2015. I have the experience, passion and knowledge to help with your residential real estate needs. Call (520) 471-6900 for a free and no obligation consultation.


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