Tax Credits helped sales but did not help increase home values

Falling home prices have economists fearing a new bottom. Phoenix is ranked no. 10 out of 20 indexed cities by the Standard & Poor's/Case-Shiller. Six straight months of declines indicates that the housing market is going in reverse.

The numbers are especially disturbing because they show that improved sales due to the tax credits didn't translate into higher prices, said David M. Blitzer, chairman of the S&P index committee.

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http://kathleeninarizona.com/archive_details.php?arch=857

Short Sale process can be painful for Sellers

The Short sale process can be painful for Sellers. The decision to pursue a short sale does not come easily. Big mortgage lenders such as Wells Fargo and Bank of America are working at helping to make the short sale transaction smoother. The banks never imagined they would have to create assembly lines to churn out short sale approvals. Bank of American approved only 12 short sales in November of 2007 compared to 18,000 short sales approved last April. WOW! The numbers continue to grow. Over 50,000 short sale applications were received last month by BOFA. The average day for an approval is starting to improve from 90 days to 50 days. Some areas of the valley show more property listings for short sales than foreclosures and traditional sales. Unfortunately, Short Sales have become a mass market product.

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http://www.kathleeninarizona.com/archive_details.php?arch=856

SaveMyHomeAZ.gov Coming Soon to help Phoenix Homeowners

Arizona will receive, $92 million to go to loan modifications. The state's plan calls for using the money to pay down borrowers' principal by as much as $50,000 if lenders will match that amount. The Arizona program could help as many as 2,000 homeowners who haven't been able to work out a loan modification with their lender.

Only 2,000 homeowners, that is it!!?? Who is going help the other thousands of homeowners who have negative equity?

Another government plan that only applies to a very small number.

Link to read more details: http://kathleeninarizona.com/archive_details.php?arch=849

Strategic Defaults - Watch 60 Minutes Special

60 Minutes interviews several families from the Phoenix, AZ area that are considering or doing strategic defaults, just walking away from their mortgages.

View Show:
http://www.cbsnews.com/video/watch/?id=6470184n

Anthem, AZ annual Music in the Park begins in May

FREE CONCERTS AT THE ANTHEM PARK IN THE MONTH OF MAY

The annual Music starts May 7th at 7:00 p.m. at the Anthem Amphitheater.

This is the fifth time concertgoers will come to the community park at 41703 N. Gavilan Peak Parkway. Anthem officials expect approximately 600 to 900 people each night for the free entertainment scheduled every Friday this month.

"This concert series is designed to appeal to a broad range of musical tastes," said Michele DeMichele, Anthem Community Council's special events manager. "All attendees need to do is sit back, relax and enjoy the music of the night."


read more about this event: http://kathleeninarizona.com/archive_details.php?arch=841

Anthem Water Rates - company wants to consolidate with 8 districts to keep rates the same

Public Hearing Scheduled to combine 8 districts to keep water rates the same

The Arizona Corporation Commission scheduled a meeting May 17 to hear from residents about a proposal from Arizona American Water Co., to consolidate water rates in eight districts, including Anthem.

The company is asking the commission to combine the water rates of Anthem, Paradise Valley, Sun City, Sun City West, Agua Fria, Havasu, Mohave and Tubac. The meeting will be at 6 p.m. at Sundial Recreation Center Auditorium, 14801 N. 103rd Ave.

read more: http://kathleeninarizona.com/archive_details.php?arch=840

Arizona Federal Aid could help 4,350 homeowners from Foreclosure

The number of Phoenix-area homeowners losing houses to foreclosure fell 20 percent in April, a drop that could signal more successful or at least temporary loan modifications.
There still are many people facing foreclosure, even though pre-foreclosures dropped as well. Last month, lenders started foreclosure proceedings on 7,064 Valley homes, down 12 percent from March. The foreclosure tally for April was 4,446.

Arizona's plan to spend $125.1 million in federal foreclosure funds could help as many as 4,350 of the state's struggling homeowners this year. The Arizona Housing Department finalized its plan and sent it to the Treasury Department a few weeks ago. The state agency has a conference call with federal officials to discuss the plan Thursday. If approved, the money could be available in June.

Read key points for this plan:
http://www.kathleeninarizona.com/archive_details.php?arch=838