tucson spirit: 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 spirit: Tucson, AZ Mortgage Rates 10/1/16 - 10/01/16 04:47 AM
Mortgage bond prices finished the week near unchanged which kept rates basically flat. Rates improved Monday morning as news out of the Eurozone focused on Deutsche Bank and legal proceedings with the U.S. government. There was flight to safety buying of U.S. debt instruments as a result. That unwound a bit toward the end of the week as news reported a possible settlement that would reduce the payment from $14B to around $5.4B. The data was mixed. Final GDP rose 1.4% in the 2nd quarter versus an expected reading of 1.3%. Weekly jobless claims were better than expected. Personal income rose … (0 comments)

tucson spirit: 9/2/16 Tucson Mortgage Rates & Market Summary - 09/02/16 08:03 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 Fed officials continued to discuss rate increases. Fed Vice-Chair Fischer said the economy was near full employment. Consumer confidence was expected at 97 but came in at a 101.1 reading.
 
ADP employment increased 177K versus the expected 170K increase. Weekly jobless claims were 263K versus the expected 265K. Productivity fell 0.6% versus the expected 0.5% decrease. ISM Index was a weaker than expected 49.4. Analysts looked for a mark of 52. Unemployment was 4.9% and payrolls increased … (0 comments)

tucson spirit: Tucson AZ Mortgage Update for August 26th, 2016 + Market Commentary - 08/26/16 07:11 AM
Mortgage bond prices finished the week near unchanged holding rates steady.  New home sales printed at 654K versus the expected 580K.  Existing home sales printed at 5.39M versus the expected 5.54M units.  According to the FHFA Housing Price Index, housing prices rose at a 5.6% annual rate in the previous 12 months. The monthly gain was 0.2% which was near expectations.  Federal Reserve Chair Yellen spoke at the Jackson Hole Symposium. The gathering is sponsored by the Federal Reserve Bank of Kansas City and focuses on important economic issues that face the U.S. and world economies. She provided no clear indication … (0 comments)

tucson spirit: 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 spirit: Mortgage Rates & Market Commentary 7/23/16 Tucson AZ - 07/23/16 01:00 AM
 
 
 
Mortgage bond prices finished the week slightly lower which put upward pressure on rates. Rates were flat the beginning of the week amid mixed data. The NAHB Housing Index was 59 versus the expected 60. Housing starts were 1189K. Analysts looked for a reading of 1170K. Rates worsened Thursday morning in response to better than expected jobs data. Weekly jobless claims were a lower than expected 253K versus the anticipated 265K. The Philadelphia Fed business conditions index was down 2.9 versus the expected positive 5.0. This countered some of the selling pressure from the jobs data but we were still negative. … (0 comments)

tucson spirit: Interest Rate Update:Labor Statistics + Global Market Uncertainly - 07/08/16 06:13 AM
 
In today’s economic news the US Bureau of Labor Statistics released its latest data on the health of our nation’s employment. The unemployment rate rose from 4.7% to 4.9% while Non-Farm Payrolls surged by an unexpected amount of 287K. This was the largest increase since October of 2015. May was revised to show an increase of 11K from the originally reported figure of 38K and April was revised to show a gain of 144K from 123K. Average Hourly Earnings increased by .1%. The Labor Participation Rate was 62.7. The latest data helped to reduce concerns following last month’s very weak report … (0 comments)

tucson spirit: 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 spirit: 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 spirit: Tucson Monsoon Season is Here: Mitigate Flood Insurance Cost with an Elevation Certificate - 07/01/16 06:31 AM
Flood insurance can be expensive, especially if there is no current elevation certificate on the property.  If a property is in a flood plain, you will need extra hazard insurance or otherwise known as flood insurance.
 
Recently, we handled a purchase where the initial cost of the flood insurance premium was $5,800 a year. The buyer chose to pay for an elevation certificate that cost $800 and the flood insurance premium dropped to $1,600 per year.  Bids can change from provider to provider.  Reprenting a buyer recently he received a bid for $3800.  Suggested another bid and it came back $920 for … (1 comments)

tucson spirit: Public Safety in Central Neighborhoods-Tucson AZ - 06/13/16 06:16 AM
 
In the past few weeks we’ve seen an uptick in crimes of opportunity in several midtown
neighborhoods. In response,  Steve Kozachik's had a few different neighborhood meetings focused on
public safety and how to protect your property.
There are some really easy steps you can take to harden your target. Some of those include
reinforcing your door frames, using deadbolts, installing a 190 degree viewer in
your door, securing your AC units from the inside, trimming shrubbery – adding some
cactus around windows, video-taping or otherwise marking your valuables with your driver’s
license number, and posting a notice to would-be burglars that your stuff is marked.
TPD makes several … (0 comments)

tucson spirit: Open House in Historic Sam Hughes Central Tucson Sat 1-4pm Moveinready - 06/11/16 02:20 AM
Please join Spirit for an open house to the general public today, Saturday 6/11/16 from 1pm -4pm for this beautiful 1926 true mude adobe home in historic Sam Hughes community.  2202 E 1st Street, Tucson AZ  85719.
Please call listing agent, Central Tucson specialist Spirit Messingham at (520) 471-6900, if you would like to view this or any property for sale in Tucson, AZ.
Stunning 1926 mud adobe bungalow on spacious R2 corner lot located in the heart of Sam Hughes, walking distance to U of A w/ No HOA. Recently renovated with authentic red oak hardwood flooring, Carerra marble counters, recessed lighting, … (2 comments)

tucson spirit: Mortgage Rates Rates for June 3rd, 2016 + Market Commentary - 06/03/16 05:58 AM
 
Mortgage bond prices finished the week higher which pushed rates lower.  Rates started slightly worse Tuesday tied to comments from a Fed official regarding future Fed rate hikes.  St Louis Fed President Bullard said, "My sense is that markets are well-prepared for a possible rate increase globally, and that this is not too surprising given our liftoff from December and the policy of the committee which has been to try to normalize rates slowly and gradually over time."  The Institute for Supply Management, which monitors conditions in manufacturing, was stronger than expected.  ADP payrolls printed at 173K which was lower than … (1 comments)

tucson spirit: 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 spirit: 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 spirit: D-M Hosts Units for Training in May Tucson, AZ - 05/16/16 02:24 AM
 
DAVIS-MONTHAN AIR FORCE BASE, Arizona  Units from across the country will be visiting Davis-Monthan through the month of May.  This is normal for Tucson at the DM base, operation snow bird includes many units both in the states and international taking advantage of the fair Tucson spring weather.
 
2 E-3s from the 964th and 965th Airborne Air Control Squadrons at Tinker Air Force Base, OK, will arrive May 11 and will train here until May 25.
 
 
6 MV-22s from Marine Medium Tiltrotor Squadron 165 at Marine Corps Air Station Miramar, CA, will arrive May 16 and will train here until May 25.
 
During these … (0 comments)

tucson spirit: 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 spirit: Central Tucson Open House 5/1 1-4pm $269,900 .25 acres, pool, garage! - 04/29/16 06:19 AM
 
3920 E Calle De Jardin, Tucson, AZ 85711 3 beds 2 baths 1,832 sqft For Sale $269,900 Zestimate®: $280,935
Please join Central Tucson Specialist, listing agent Spirit Messingham for an open house in this charming property in historic San Clemente neighborhood.   Priced $11K 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 … (3 comments)

tucson spirit: Tip for Buyers Mortgage Loan Approval - 04/29/16 02:55 AM
Paying more than minimum on revolving accounts will help mortgage loan approval
 
Effective June 25, Fannie Mae will start evaluating how all loan applicants have managed their credit over the previous two years: how much they owed in revolving debt each month, the minimum payment allowed on each debt, and how much they actually paid. “Transactors”, consumers who pay off their revolving accounts monthly or pay more than the minimum payment, are a better risk than “Revolvers” who only pay the minimum payment on their revolving accounts.
 
Paying more than the minimum on revolving accounts or paying them off each month will improve … (0 comments)

tucson spirit: 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)

 
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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