According to my favorite mortgage broker.....
FYI: Shaun Donovan, HUD Secretary, announced today that the $8,000 first time home buyer tax credit can now be used for down payment assistance for FHA Loans. Details are a little sketchy but it looks like this time it is real. Details coming next week.
This could really help so many first time home buyers get a foot into the housing market, especially with prices on homes we haven't seen since the 80's and 90's!
Saturday, May 30, 2009
Tuesday, May 19, 2009
When there is a lack of honor........
Herbert Hoover
31st President of the United States of America
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"…When there is a lack of honor in government, the morals of the whole people are poisoned.
…There is no such thing as a no-man's land between honesty and dishonesty. Our strength lies in spiritual concepts. It lies in public sensitiveness to evil.…
Our greatest danger is not from invasion by foreign armies. Our dangers are that we may commit suicide from within by complaisance with evil, or by public tolerance of scandalous behavior.…"
31st President of the United States of America
--------------------------------------------------------------------------------
"…When there is a lack of honor in government, the morals of the whole people are poisoned.
…There is no such thing as a no-man's land between honesty and dishonesty. Our strength lies in spiritual concepts. It lies in public sensitiveness to evil.…
Our greatest danger is not from invasion by foreign armies. Our dangers are that we may commit suicide from within by complaisance with evil, or by public tolerance of scandalous behavior.…"
Wednesday, May 13, 2009
Phoenix Temperature and Housing Sales Heating Up
Ahhh the Phoenix area housing market. Depending on who you chat with answers will vary, but if you talk with an REALTOR who is currently working in our market they will tell you like our temperature things are heating up with housing.
Between the investors returning and the first time home buyer credit offered the lower priced homes are being snatched up. Last week I showed a young client a home that quite literally had only been on the market for a few hours. By the end of the day there were multiple offers on the house! Within a week approximately 22 offers had been submitted and it went "Pending" with an accepted cash offer around 15k more than the asking price.
Banks love selling their foreclosed properties to "cash" offers because they don't have to pay out closing costs.....so their bottom dollar is higher. This is frustrating to my first time buyers who are qualified buyers, but paying with a mortgage, cash beats them out, they are bummed and don't want to continue after a few times.
It means things are changing to a competetive market once again for buyers. (at least on the homes around 100k) Buyers need to hang in there and continue the hunt for their new home. More foreclosures are forcast to hit our market unfortunately and this is still a GREAT time to buy a home! Great prices and great tax incentives!
Between the investors returning and the first time home buyer credit offered the lower priced homes are being snatched up. Last week I showed a young client a home that quite literally had only been on the market for a few hours. By the end of the day there were multiple offers on the house! Within a week approximately 22 offers had been submitted and it went "Pending" with an accepted cash offer around 15k more than the asking price.
Banks love selling their foreclosed properties to "cash" offers because they don't have to pay out closing costs.....so their bottom dollar is higher. This is frustrating to my first time buyers who are qualified buyers, but paying with a mortgage, cash beats them out, they are bummed and don't want to continue after a few times.
It means things are changing to a competetive market once again for buyers. (at least on the homes around 100k) Buyers need to hang in there and continue the hunt for their new home. More foreclosures are forcast to hit our market unfortunately and this is still a GREAT time to buy a home! Great prices and great tax incentives!
Tuesday, May 12, 2009
Happy Birthday Dad!
Today is my Dad's birthday.
Grampa Frenchy, Clarence, Emile, Frenchy......people know, love and respect him by many names. Our Dad (7 kids) is of French Acadian descent. He did not grow up in a home that lavished hugs and kisses and spoiled the children, but a home of love and respect and independence and passed those traits on to each of us.
He grew up in a very small town in Northern Maine. His father died at an early age and his mother (my namesake) Cecile was left to raise 8 children on her own. My Grandmother was of fine character and dare I say hardy stock? She did her best to see that her children grew to be fine adults. And they did. After finishing high school Dad went into the Navy, then became an electrician by trade. In the 50's he made his way west to Arizona. Various jobs crossed his path and then he became employed in Miami, AZ at a copper mine. After some years there he then moved our family to Cottonwood, Az to work at the Cement Plant in Clarkdale, this is where most of us grew up and had a great childhood.
Our Dad was THE 50's Dad. Go to work in the morning, home for family dinner in the evening. Sunday church and sometimes Sunday drives. All of our needs were met, we wanted for nothing that was a necessity. We all had bikes, Barbie dolls and summer passes to the Clarkdale Pool. He took us camping in the mountains sometimes so Mom could stay home and have a few days to herself. During all these childhood years he stayed in the Navy as Active Duty and this allowed him to still travel a bit and prepare for his retirement.....some day. With 7 kids he must have felt that way on more than one occasion.....some day! Well, his someday has come and he is having a wonderful time. He is still independent, healthy and headstrong. We love him. I could go on and on about our Dad, but I will leave you with this. Happy Birthday Dad, I don't know a finer man.
Grampa Frenchy, Clarence, Emile, Frenchy......people know, love and respect him by many names. Our Dad (7 kids) is of French Acadian descent. He did not grow up in a home that lavished hugs and kisses and spoiled the children, but a home of love and respect and independence and passed those traits on to each of us.
He grew up in a very small town in Northern Maine. His father died at an early age and his mother (my namesake) Cecile was left to raise 8 children on her own. My Grandmother was of fine character and dare I say hardy stock? She did her best to see that her children grew to be fine adults. And they did. After finishing high school Dad went into the Navy, then became an electrician by trade. In the 50's he made his way west to Arizona. Various jobs crossed his path and then he became employed in Miami, AZ at a copper mine. After some years there he then moved our family to Cottonwood, Az to work at the Cement Plant in Clarkdale, this is where most of us grew up and had a great childhood.
Our Dad was THE 50's Dad. Go to work in the morning, home for family dinner in the evening. Sunday church and sometimes Sunday drives. All of our needs were met, we wanted for nothing that was a necessity. We all had bikes, Barbie dolls and summer passes to the Clarkdale Pool. He took us camping in the mountains sometimes so Mom could stay home and have a few days to herself. During all these childhood years he stayed in the Navy as Active Duty and this allowed him to still travel a bit and prepare for his retirement.....some day. With 7 kids he must have felt that way on more than one occasion.....some day! Well, his someday has come and he is having a wonderful time. He is still independent, healthy and headstrong. We love him. I could go on and on about our Dad, but I will leave you with this. Happy Birthday Dad, I don't know a finer man.
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