Nov 30th, 2011
It’s official-half of AZ lost 50% of it’s equity (85018, 85016, 85014, 85251)
Not that this is new, but nearly half of Arizonans are upside down on their houses making us #2 behind Nevada. Shocking. Interestingly, 22% across the country are underwater at the same time. Granted we’re twice that but across the board things aren’t looking too strong just yet. Which makes us not feel that bad?? [...]
Nov 25th, 2011
Prices to drop 10% in 2012 (85018, 85016, 85014, 85251)
And the hits just keep on coming! That is, unless you’re a buyer. Average home prices in Phoenix fell by 9.5 percent in the past year and are projected to drop another 10.3 percent by next summer. Home prices in the Valley peaked during the second quarter of 2006, and values have dropped nearly 56 [...]
Oct 26th, 2011
The Ins and Outs of Obama’s New Mortgage Refi Plan
What is HARP and how is it changing? Who’s eligible? When will it take effect and how will it be successful? Click here to find out.
Oct 25th, 2011
Ariz. underwater homeowners to get help with refinancing: But will it be enough?
Will this new program go far enough? From all indications, this program will help 600,000 to 1,000,000 homeowners. Did you know there are 11 Million underwater mortgages! Will you be one of the approximately 0.055% – 0.09% to get help from this program? Click Here to read the full article. -Phoenix, Scottsdale, 85018, Short Sale-
Sep 28th, 2011
First-Time Buyers Losing Interest in Short Sales
Click here to read why, when selling your home short, it is important for your Agent to properly vet all offers. They should be asking, among other things, if the buyers are willing to stay in the deal for up to six months and are they willing to increase their offer if the bank counters. When, after [...]
Sep 21st, 2011
Arizona Agency Encourages Short Sales by Offering Money
Today the Arizona Department of Housing starting accepting applications for a new program to encourage sellers to short-sale their homes rather than letting them go to foreclosure ($4,500 to the seller and 3% of the purchase price to the buyer for help with closing costs). The new program is in response to lackluster participation in the existing program [...]
Sep 19th, 2011
Tell Your Realtor to Get Creative
Click here to read what one homeowner in Chicago did to increase their showings by 300%. What kinds of showing promotions have you done?
Sep 13th, 2011
Stimulus Tax Cuts Did Spur Growth and Create Jobs
For immediate release: September 13, 2011 Contact: Alan Barber, (202) 293-5380 x115 WASHINGTON DC- There is a serious debate over the impact of President Obama’s stimulus. Stanford Economics Professor John Taylor, who served as Under Secretary of the Treasury for International Affairs under President Bush, recently released a draft paper that purports to show that [...]
Sep 12th, 2011
Fed’s Non-Action #2
The Corrupt Arithmetic of the Federal Reserve Board By Dean Baker Last month the Federal Reserve Board’s Open Market Committee (FOMC) voted 7 to 3 to commit itself to keep its short-term interest rate at near zero for the next two years. Given the persistence and severity of the downturn, this was a modest step [...]
Sep 12th, 2011
Fed’s Non-Action #1
Last week’s economic news contained few surprises. Fed Chief Bernanke gave no indication of policy changes and President Obama’s jobs package matched expectations. As a result, mortgage rates ended the week with little change, remaining at historically low levels. The basic issue confronting the US economy is slow economic growth with high unemployment. Both Fed [...]
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