tucsonspirit: 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)

tucsonspirit: 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)

tucsonspirit: 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)

tucsonspirit: 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)

tucsonspirit: Tucson Votes for 7th Historic City Landmark in Colona Solana - 08/11/16 01:24 AM
Newest city of Tucson National Historic Landmark right here in our historic subdivision of Colonia Solana (there are 7 in the entire city). Interesting enough, not our first one in Colonia Solana, as the El Con Water Tower is also a City National Landmark. The Voorhees-Pattison House can be seen at the corner of Randolph Way and E Via Golondrina across the street from Randolph Park on the way to Reid Park.
After a year of work and public meetings the City of Tucson Mayor and Council voted unanimously to create our 7th Historic Landmark: the 1929 Voorhees-Pattison House, designed by renowned … (0 comments)

tucsonspirit: Mortgage Rates Rates for July 15th, 2016 + Market Commentary - 07/16/16 03:16 AM
Mortgage bond prices finished the week lower which put upward pressure on rates.  Rates were flat the beginning of the week amid no data and some stock strength.  The global stock rally continued and rates eventually pushed higher.  The Treasury auctions were weaker than normal as the flight to quality influx of funds into U.S. debt instruments tapered off.  Producer prices rose 0.5% and the core value, which excludes the volatile food and energy costs, rose 0.4%.  The figures were expected to rise 0.3% and 0.1% respectively.  Weekly jobless claims printed at 254K and continuing claims, a summation of all receiving … (0 comments)

tucsonspirit: Tucson AZ Pathway to Purchase Down Payment Assistance Program - 07/14/16 08:19 AM
The new down payment assistance program, Pathway to Purchase, is scheduled to begin taking application this coming Monday, 7/18 at 1 PM.
This program is available for only the city of Tucson and South Tucson. Here are the basics:
Income limit: $92,984 annual income
Sales price limit: $371,936 maximum
Debt ratio: 45% maximum
Minimum credit score : 640
Max LTV: 95%
Down payment assistance: 10% of sales price up to maximum of $20,000. 0% interest, no payments, forgiven after 5 years
Loan type: Conventional, 30 year fixed rate, owner occupied
Reduced mortgage insurance cost
Eligible properties: existing single family, townhouses or eligible condos
Buyers do not need to be first time homebuyers … (0 comments)

tucsonspirit: Open House Historic Sam Hughes Central Tucson 6/26/16 1-4pm - 06/25/16 02:16 AM
Please join Spirit Messingham, Central Tucson specialist for an open house to the public Sunday 6/26/16 from 1-4pm. 
New lower price. 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, new fixtures, ceiling fans, lighting, wood doors, fresh paint inside & out. Updated plumbing & … (6 comments)

tucsonspirit: Brexit Will Affect Rates: Mortgage Rates & Commentary for 6.24.16 - 06/24/16 11:20 AM
Mortgage bond prices finished the week higher which pushed rates lower. Rate movements were primarily tied to Brexit sentiment. Rates were higher the beginning of the week as uncertainty loomed. Britain voted to exit the European Union which ignited world economic volatility Friday. Fortunately the flight to safety buying of U.S. debt instruments resumed Friday, the losses from earlier in the week were erased, and rates improved as a result. Durable goods orders fell 2.2% versus the expected 0.6% decrease. The Treasury auctions were mixed with the 2Y weak and the 7Y strong. Weekly jobless claims were 259K versus the expected … (0 comments)

tucsonspirit: 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)

tucsonspirit: 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)

tucsonspirit: 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)

tucsonspirit: Authorized User Accounts: How to increase your credit score/history - 05/05/16 07:29 AM
Authorized user accounts have been a traditional method for young consumers to build a credit history and a credit score.  The consumer is added to an existing account as an authorized user but normally is not the individual making the payments on that account. Mortgage lending now requires that consumers who have their credit score based mostly or wholly on authorized user accounts have their credit re-scored for mortgage purposes without the authorized user accounts. This re-scoring typically drops the credit score and can at times eliminate credit scores completely.  Lower credit scores can make the loan process tougher, more expensive … (0 comments)

tucsonspirit: 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)

tucsonspirit: Mortgage Rates and Market Commentary 3/28/16 - 03/28/16 08:26 AM
 Mortgage bond prices finished the week lower which put upward pressure on rates.  Rates were higher early in the week despite mixed housing data.  Existing home sales printed at 5.08M versus the expected 5.37M.  The FHFA Housing Price Index rose 6% on an annual basis.  That data showed an upward trajectory in housing prices, rising above the December data.  New home sales printed at 512K which was as expected. There was some flight to quality buying of mortgage bonds in response to the attacks in Belgium which counted some of the earlier selling pressure.  The market closed early Thursday ahead of … (0 comments)

tucsonspirit: Leased Solar Units in Arizona - 03/23/16 06:48 AM
As an experinced buyers agent I am seeing more and more of these on properties.  Some things to keep in mind:
Leased solar units are allowable with the following conditions:
The solar unit is not included in the appraiser’s valuation of the property
The lease payment is included in the borrower’s debt ratio calculation
The lease is not a lien on the property
The lease contains language that the homeowner is indemnified against any damage to the property caused by the solar unit

tucsonspirit: 1st Time Home Buyers in Tucson Start Your Search - 03/15/16 12:28 AM
Thinking about buying a home but not sure where to begin?  First thing a buyer should do is speak with a local lender and get pre-approved.  Next, start a relationship with an experienced buyers agent.  These are important first steps when considering a home purchase.   I am an experienced buyer’s agent, 9 years’ experience and in the top 1% of all Realtors in Tucson.  I work, live, and specialize as a buyer’s agent in theTucson market.  Give me a call and we can discuss your needs.

tucsonspirit: 97% Conventional Financing For Qualified Buyer's - 03/10/16 11:40 PM
For consumers with excellent credit , 97% conventional financing with a 3% down payment can be a good alternative to 3.5% down FHA financing. Gift funds are allowable for the down payment. There is no upfront mortgage insurance premium like FHA and the monthly mortgage insurance will eventually drop off, unlike FHA’s that stays for the life of the loan. Qualifying debt ratios are tighter on the conventional loan compared to FHA. If the buyer is a first-time buyer, there are no income restrictions for this 97% conventional financing. If the buyer is not a first -time buyer, then there are … (0 comments)

tucsonspirit: Qualifying Self-Employed Borrowers - 03/02/16 10:44 PM
As an independent contractor I can relate and understand some consumers who are self-employed experience swings in their incomes from year to year. This can cause underwriters to question the stability of their income, especially if there are large decreases in income for the consumer from year to year. This can lead to qualifying problems. There are several methods that can help these consumers. There are now conventional loan programs that only require one year tax returns instead of the normal two years. Using this method would eliminate any decreasing income questions from year to year since the underwriter is only … (2 comments)

tucsonspirit: Freshen Up Your Garbage Disposal - 03/02/16 03:54 AM
The kitchen is a source of odors in the home. Some, like apple pie, are pleasing. Others, like the odor emitting from a kitchen drain, can hit you right in the gut.
To clean and freshen your drains, pour the juice from half a lemon and a handful of baking soda down the drain. Flush well with hot water. Garbage disposals are another part of the sink that can get stinky. To freshen your garbage disposal:
1. Cut a lemon in quarters
2. Run cold water down the disposal.
3. Turn on the disposal and drop in one piece of lemon.
4. Follow with a second … (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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