tucsonspirit: 9/14 Mortgage Rates and Market Comments
- 09/14/15 01:02 AM
Mortgage bond prices finished the week lower which pushed rates higher. Stock volatility dominated headlines. Higher stocks put selling pressure on mortgage bonds Tuesday when trading resumed after the extended holiday weekend. The data was generally neutral. Weekly jobless claims were 275K as expected. Producer price data caused some concern. PPI was unchanged versus the expected 0.1% decrease. The core, which excludes volatile food and energy, rose 0.3% versus the expected 0.1% increase. Mortgage interest rates finished the week worse by about 1/8 of a discount point. Fed Turning Point In 2008 as the world was quaking, the Federal Reserve came … (0 comments)
tucsonspirit: Who Do You Put on The Purchase Contract???
- 09/11/15 01:53 AM
When writing a purchase contract, first thing we need is the signed pre-qualification form from the lender. When you obtain this, a good idea to specifically ask if both husband and wife (or both partners) will be included on the loan. Most loan programs do allow a non-borrowing spouse or significant other to be on the sales contract and title but not on the loan. This arrangement is used normally due to the credit score or previous credit history of the non-borrowing individual where inclusion of this individual will either increase the cost of the loan or prevent loan approval. For example, … (1 comments)
tucsonspirit: Mortgage Rates & Market Commentary 9/4/15
- 09/04/15 09:22 AM
Mortgage bond prices finished the week lower which pushed rates higher. Stock volatility dominated headlines. The DOW fell 115 points Monday, 490 points Tuesday and rose 293 points Wednesday. The data was mixed. ADP employment rose 190K versus the expected 202K increase. This was rate friendly. Revised Q2 Productivity rose 3.3% from up 2.8% the prior release. Factory orders rose 0.4% versus the expected 0.9% increase. Weekly jobless claims were 282K versus the expected 273K. Unemployment was 5.1% and payrolls rose 173K. Mortgage interest rates finished the week worse by about 1/8 to 1/4 of a discount point.
Consumer Sentiment In the US … (2 comments)
tucsonspirit: Just Sold Historic Property in Historic Colonia Solana: Central Tucson
- 09/04/15 05:23 AM
Just sold the registered historic property at 555 S Country Club in historic Colonia Solana, Tucson AZ 85716. Thinking about buying or selling in Central Tucson? I work and live in Colonia Solana, Central Tucson is my main area of expertise. Please give me a call. Designated, registered historic property for primary residency, current taxes reflect. Established in 1928 with no CC&Rs and known as Tucson's first suburban subdivision, Colonia Solana sits on 158 acres of desert landscape. Referred to as "the hidden jewel of Arizona" by the State Historic Preservation Office. Walk to Randolph Golf Course(s) & Reid Park, Reid Park … (3 comments)
Located at 1919 E Water Street, Tucson, AZ 85719. Desirable three bedroom/2 bath, 1,530 Sq Ft red brick bungalow located in the heart of Central Tucson. Fantastic central location, walking distance to UMC, U of A, restaurants and shopping. Buyers will appreciate the authentic hardwood floors, all the vintage character and charm of a 1950's classic bungalow with modern updates including: energy efficient double pane windows, AC, gas stove, ceiling fans (all bedrooms), split floor plan, open kitchen, low … (0 comments)
tucsonspirit: Mortgage Market Commentary 7/31/15
- 08/01/15 01:11 AM
Mortgage bond prices finished the week higher which pushed mortgage rates lower. Rates were positive the beginning of the week tied to economic weakness abroad. The Shanghai Composite index saw an 8.5% decline Monday morning. Consumer confidence printed at 90 versus the expected 100 reading. The early improvements were small and erased prior to Wednesday's Fed meeting. The Fed kept rates unchanged but indicated economic activity expanded moderately. Gross domestic product rose 2.3% in the second quarter. Economists expected GDP to rise 2.5%. Q1 GDP was revised from down 0.2% to up 0.6%. Mortgage interest rates finished the week better by … (1 comments)
There are several key points: Total Sales Volume continued to rise this month, going from $300,526,884 in May to $324,888,299 in June, resulting in a 8.11% increase over last month. This is also a 18.38% increase over June 2014. Total Under Contract decreased by 6.13% from May. Total Unit Sales of 1,481 is up from May's number of 1,388, resulting in a 6.70% increase. New Listings decreased 6.26% from May. Total Active Listings of 4,992 is a 4.91% decrease from May's number … (1 comments)
tucsonspirit: Open House 6617 E Via Cedri Tucson, AZ 85750 North Tucson Sat&Sun
- 06/25/15 09:02 AM
Please join us for an open house Saturday 27th and Sunday 28th from 1pm-4pm on this value priced listing. The townhome next door is listed for sale at $398K, at $249K buyers can update to their tastes! Walk to the clubhouse, pools, or tennis court! Estate Sale. Excellent investment opportunity on this affordable 1,573 Sq Ft, N/S facing w/ Catalina Mt views out backyard, burnt adobe gem nestled in the Fairfield community. Low HOA dues include: heated pools, spa, club house, and tennis court. Buyers can update unit to their taste, will make secure second home. Features include: several (7) skylights provide … (6 comments)
Mainstream mortgage programs impose waiting periods for consumers after derogatory credit events such as foreclosures, short sales and bankruptcies before they are eligible for a mainstream mortgage. The time periods depend on the type of derogatory credit event and the loan program. Attached is a matrix showing the waiting periods. This does not mean a person can't buy a house again, but gives them an opportunity to save for the down payment.
Foreclosure: Conventional 7 years, FHA and USDA 3 years, VA 2 years
Short Sale: Conventional 4 years, FHA and USDA 3 years, VA … (2 comments)
tucsonspirit: Breath of Fresh Air: Three Good Reasons to Move to Tucson, AZ
- 06/12/15 03:58 AM
Fresh Air. Traditionally, Tucson has high rankings when it comes to clean air. We were placed on a list of the 5 Cities with the Best Air Quality in the U.S. (2013) and ranked #1 for cleanest metropolitan areas in the country for 24-hour particle pollution by the American Lung Association (2013). Another reason to consider moving to Tucson, AZ? Plenty of Sunshine! While the East & Midwest face brutal POLAR VORTEX (just sounds cold doesn't it?) winters, you won’t get the cloudy day blues in Arizona. Tucson offers 350+ glorious days of sun rays. On most days, you’ll wake up and peek out your … (0 comments)
tucsonspirit: Lowest Priced Home in Historic Colonia Solana Central Tucson $100 SqFt
- 06/10/15 03:00 AM
Listed at just $100 per sq ft, lowest price & lowest per Sq Ft in Colonia Solana, listed below recent appraisal. Registered Historic property in prestigious Historic Colonia Solana (est.1928), admirable location in the heart of Central Tucson. Spacious red brick ranch home with five bedrooms and four bathrooms complete with attached two car garage, enclosed Arizona room, pool, N/S orientation, large circular driveway with ample parking, RV parking allowed, new AC condensers 2014, & mountain views. Built in 1961, .94 acre with all the vintage character & charm of the period including: exposed interior brick, original tile bathrooms, gorgeous wood … (4 comments)
tucsonspirit: Reid Park Events Month of June: Central Tucson, AZ
- 06/02/15 04:39 AM
We love living within walking distance to updated Reid Park, listed below are park events for the month of June. Come check out the Reid Park Zoo, public pool, park & pond, or take your dog to the dog park.
… (1 comments)
tucsonspirit: For Sale in Historic El Encanto Est & Colonia Solana-Central Tucson
- 05/30/15 07:57 AM
Have you been thinking about moving to Central Tucson? There are two highly desirable, historic subdivisions to consider, El Encanto Estates and Colonia Solana. The link below includes 23 properties listed for sale and or under contract. Curious and want to view some properties? Give me a call, experienced buyers agent in Central Tucson. http://www.flexmls.com/link.html?1566iabccps7,12,1 Spirit … (0 comments)
tucsonspirit: New Listing NW Tucson, AZ 2224 W Floral Cliff Way Minutes from I-10
- 05/21/15 05:36 AM
Located in Northwest Tucson and just minutes away from I-10, new listing at 2224 W Floral Cliff Way, listed for $227,900. Stunning A.F. Sterling 2009 built, TEP guaranteed, truly move in ready, desirable 2009 Sq Ft, 4 bedroom & 2.5 bath (downstairs bathroom) on premium N/S facing lot. Featuring full slab granite kitchen counters & breakfast bar, gas stove, extra recessed lighting, massive custom wood front door, open kitchen concept, spacious great room, upgraded 18'' tile w/carpet in bedrooms, laundry room, custom wood window blinds throughout, large walk-in closet in master w/tiled master bathroom, dual vanity sinks, ceiling fans & loft/den space … (2 comments)
tucsonspirit: Properties for sale in Colonia Solana and El Encanto Estates Tucson,AZ
- 05/13/15 07:52 AM
Thinking about buying or selling real estate in Tucson, AZ? I work and live in Central Tucson, please give me a call. The link below is a recent listing of all the properties for sale and under contract for the historic subdivisions of Colonia Solana and El Encanto Estates.
tucsonspirit: Just listed 4/3 NW Tucson 2,009 Sq Ft 2009 Built 2 Story
- 05/13/15 07:45 AM
Just listed beautiful move-in property located at 2224 W Floral Cliff Way Tucson, AZ 85741. 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. Stunning A.F. Sterling built, TEP guaranteed, N/S facing, truly move in ready, desirable 2009 Sq Ft, four bedroom and 2.5 bath (downstairs bathroom) on premium lot. Featuring full slab granite kitchen counters & breakfast bar, gas stove, extra recessed lighting, open kitchen concept, spacious great room, upgraded 18 inch tile w/carpet in bedrooms, laundry room, custom wood window blinds throughout, large walk-in closet … (2 comments)
tucsonspirit: 1st Time Home Buyers: Where to Start
- 05/09/15 02:16 AM
In 2015 it is estimated that Millennials (average age 23 years old) will make up 30% of home buyers. As a group, they have been reluctant to buy, and who can blame them. Many are saddled with high student loans and no job(s). First things first, talk with a local lender. Once anyone becomes interested in home ownership, talk with a local lender to get pre-approved. This should be a FREE conversation and no obligation. This is very important for many reasons. The potential home buyer can see what rates they qualify for, where loan rates are at (and where they are … (4 comments)
tucsonspirit: 5/9 Mortgage Market Commentary
- 05/09/15 01:33 AM
Mortgage bond prices finished the week near unchanged, which held mortgage interest rates steady. Rates were near neutral Monday but pushed higher Tuesday morning. The trade deficit rose 41% to stand at $51B. The strength of the U.S. dollar makes imports cheaper and exports more expensive. Q1 productivity fell 1.9% as expected and unit labor costs rose 5%. The Federal Reserve is watching labor costs and the elevated reading caused rates to rise. Weekly jobless claims were 265K versus the expected 280K mark. This was not rate friendly. Unemployment stood at 5.4% and non-farm payrolls rose 223K. Traders were relieved the … (0 comments)
tucsonspirit: Scam Alert: Tucson AZ Beware Wire Transfer Instructions
- 05/07/15 08:10 AM
According to REALTORS® and title companies across the state, Arizona real estate transactions are once again being targeted by hackers perpetrating wire transfer fraud. It is customary for parties in a real estate transaction to receive, and comply with, wire transfer instructions. Unfortunately, it has become increasingly common that those instructions were not generated by a legitimate party, and that the funds are being wired to a bank account controlled by an online hacker. Although the scam is perpetrated in a variety of ways, it typically begins with the email account of a party to a pending real estate transaction being hacked. The … (0 comments)
tucsonspirit: Plan on Adding 3 Days to Closing Process With New Disclosure.
- 05/05/15 10:33 AM
Effective with loan applications dated 8/1/2015 or later, new federal disclosures will be mandatory. The Loan Estimate will combine the existing Good Faith Estimate and the Truth-in-Lending forms and is unlikely to create any major changes for real estate transactions.
The Closing Disclosure replaces the HUD-1 Settlement Statement and imposes a mandatory 3 day waiting period for signing loan documents. The consumer must receive the Closing Disclosure no later than 3 days before they sign the loan documents.
For Arizona transactions with the AAR sales contact that requires the buyer to sign closing documents no later than 3 days prior to close of … (11 comments)
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.
Mortgage bond prices finished the week lower which pushed rates higher. Stock volatility dominated headlines. Higher stocks put selling pressure on mortgage bonds Tuesday when trading resumed after the extended holiday weekend. The data was generally neutral. Weekly jobless claims were 275K as expected. Producer price data caused some concern. PPI was unchanged versus the expected 0.1% decrease. The core, which excludes volatile food and energy, rose 0.3% versus the expected 0.1% increase. Mortgage interest rates finished the week worse by about 1/8 of a discount point. Fed Turning Point In 2008 as the world was quaking, the Federal Reserve came … (0 comments)
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