Relocate to Arizona view Homes in Golf Course Communities like Anthem, Scottsdale, Pebblecreek

Anthem Community Supports Katie Wagner recently diagnosed with cancer -Let's continue to pray & support this precious girl

2011-10-28T11:42:00.000-07:00

Car Wash for Katie Wagner
Saturday, Oct. 29
10 a.m. (until the last car is washed)
CVS, 3610 W. Anthem Way

Fundraiser for 15-year-old Katie Wagner of Anthem, recently diagnosed with cancer. All proceeds go to Katie’s family to offset medical costs. Washing provided by Pop Warner volunteers.

For Donations:
A “We Care” Anthem account has been set up for Katie Wagner at Mid First Bank, acct number is 2033005575.

Dollyrockers Salon we want to do everything we can to help Katie Wagner and her family! We have set up a raffle to raise money for the Wagner family here in the salon! All of the proceeds with go to Katie Wagner & her family!Drawings will be held SATURDAY November 19th so PLEASE stop in and buy your ticket.

The Carroll Law Firm will be donating 10% of all proceeds from wills and estate planning documents during the holiday season to the Wagner Family. Please show your support for Katie and set up an appointment between November 15th and the New Year for your estate planning needs.

Saturday, Oct.29th @8 AM-Hands Across Anthem-Line up at Anthem and Gavilan Peak Parkway and join hands. Donations-$1.00. Tshirts will also be available at this event for $10. All money goes directly to Wagner family!

Sunday, Nov. 13th@ 2:00-Zumbathon at the Anthem community Center

Friday, Nov.18th-We Care Golf Tournament benefiting Katie Wagner

Here are things that have been established and taken care of for the family: Meals, Lawn Care, House Cleaning, House Painting, Hospital Meals while she is there (for the family) Family photo, Pool care veterinary services, plumbing/solar services I want to remind everyone that this will be a marathon, not a sprint.

HousingAZ.com to Help Struggling Homeowners complete Short Sales in Arizona

2011-09-21T09:41:00.002-07:00

Are you a homeowner considering a short sale? Apply online today http://www.housingaz.com/

The Arizona Department of Housing has $269 million in federal foreclosure-prevention funds.

The state agency is offering homeowners $4,500 and to pay their 3 percent closing costs if they work with their lender to complete a short sale instead of losing their home to foreclosure. But, of course, like the principal-reduction loan modifications, it's all up to the lenders whether the deals go through.

Housing Director Michael Trailor said the state agency will start taking applications for the short-sale program today. It's the same site that is taking applications for the principal reduction loan-modification program and unemployment mortgage aid, both of which also are being funded by federal money from the Hardest Hit Housing program.
The principal reduction loan program was launched a year ago, and Trailor said as many as 30,000 Arizona homeowners should qualify.He said the miserable results, because of the lender's reluctance to cut principal and Fannie Mae and Freddie Mac's policy not to reduce loan amounts, have been a frustrating and time-wasting effort for his agency during the past year.

So, to try to spend some of the money to help homeowners, the agency received approval from the U.S. Treasury Department to start the short-sale program.The Housing Department is also expanding its program to cover mortgage payments for more unemployed and underemployed homeowners who are eligible.

"We want to spend this money to help homeowners, but we need lenders' help," Trailor said. "Anyone who thinks they are eligible should immediately apply at our website."

Phoenix, AZ Trustee Sales becoming a Reality Show "Betting the House"

2011-09-16T08:46:00.003-07:00

Phoenix will be the setting for a new reality show about one of the region's most competitive and heart-racing activities - bidding on foreclosure homes.Agents who work at Maricopa County's foreclosure auctions are in negotiations to appear on the show, which is planned to start airing on the Discovery Channel next year.

Filming for "Betting the House" is expected to begin in the next few weeks.New York-based Sharp Entertainment, producer of the show, also created "Punkin Chunkin" for the Discovery Channel, "Man vs. Food" for the Travel Channel and "Extreme Couponing" for TLC.

Now, cameras will be filming outside the county courthouse in downtown Phoenix.
Although the company did not comment on the details of the show it is planning, the daily auction scene is one of colorful characters and sometimes intense bidding on the region's foreclosure homes.

As many as three auctioneers may be taking bids at once, and the agents and buyers who try to land good deals rush from auction to auction, placing offers, talking to their offices by cellphone and trying to make sure they don't miss a deal in the process.

At its heart, the attraction of the auction scene is the promise of a house - to be a home, a rental or just a quick investment - for an amazing deal. Sharp picked three veteran bidders at Phoenix's foreclosure auctions to follow.

Lenders have been selling a record number of Phoenix-area homes at the foreclosure auctions known as trustee sales. In August, 1,500 foreclosure homes sold at auction.Trustee sales at the courthouse used to start at noon, but there are so many houses that lenders are trying to sell that the auctions have been moved up to 11 a.m. or earlier and still often go to 5 p.m.

But the frenzy can't last much longer.

Already, competition has driven bidding prices up too high for some investors. At the same time, foreclosures have been falling this year.Notices-of-trustee sales, or pre-foreclosures, are half of what they were a year ago. The number of pending foreclosures in Maricopa County is down to 19,000, half of what it was two years ago.

"I doubt reality TV will shine a positive light on our housing market, although it should be entertaining," said Tom Ruff, real-estate analyst with Information Market.His firm tracks foreclosures daily. "There are definitely some colorful personalities chasing foreclosure properties. Expect them to further Arizona's image as the Wild West."

Stay tuned.

Anthem, AZ Parkside Golfers can join the Anthem Country Club!

2011-09-09T15:12:00.001-07:00

ANTHEM GOLF AND COUNTRY CLUB
ANNOUNCES A NEW GOLF MEMBERSHIP CATEGORY

Anthem’s Golf Membership has been available to residents living outside the Country Club Community for nearly ten years. The Club has quickly become one of the top 5 Clubs that are a part of ClubCorp, World Leader in Private Clubs with over 130 golf and country clubs worldwide.

We are now offering a new category designed specifically for golfers who live in Anthem Parkside. The Club provides a premier golf experience with 36 holes
without the high cost of a comparable Scottsdale Golf Club.

PREFERRED MEMBERSHIP INVITATION
Corridor Golf Membership
$11,000 Initiation Fee
Act quickly as this Introductory Initiation Fee is only available for a limited time.The customary Initiation Fee is normally the same as our full golf requirement of $21,000 Annual dues are just $500 per month inclusive of your family

The Corridor Golf Membership is designed for golfers who live in Anthem Parkside, who desire access to great golf, superb dining, and fun social activities of a top private Country Club!

• Members have no capital assessments and no food and beverage minimums.

• Anthem Golf Members enjoy access to complimentary greens fees at over 130 golf and country clubs.

• Anthem has an active Men’s and Ladies Golf Association that each plays two days per week.

• Anthem has two Clubhouses, championship golf courses, golf practice facilities, and restaurants.

Mark Lewicki, Membership Director / 623-742-6202 or email: mark.lewicki@ourclub.com

A few answers to why the Phoenix Real Estate home values are so confusing today

2011-08-28T16:48:00.003-07:00

Traditionally, a home's value could be estimated from its "comps," comparable sales of nearby homes. Those offer an idea of the going price in a neighborhood and the price per square foot.

Currently, metro Phoenix's overall median sales price is $124,000. But because many of the homes sold are foreclosure auctions - in which low-priced homes are common - that number could be seen as low. Other homes may be worth far more. But few of those homes are selling, so they're not represented in the median price.
Today, in the general Phoenix area, a regular home sells for about $112 a square foot. A house sold through short sale goes for an average of $72 a square foot. A bank-owned, Freddie Mac or Fannie Mae home sells for approx. $61.50 a square foot. And foreclosure homes selling at auction are averaging $57 a square foot.

"Everyone is trying to figure out Phoenix's housing market now, but there's no one set of data that truly tells the story. All the regular models for tracking the market are broken now," said Tom Ruff of the Information Market. "There is not just one market in metro Phoenix anymore." Measures of the overall market are harder to trust today because Comparable properties are not consistent and can be confusing to a buyer or seller trying to determine a market value for a property in today's market. Every area, every neighborhood is different.That confusion makes it especially hard for homeowners and homesellers to know what their houses are worth.

The different type of categories for home sales transactions in the market have each begun to work in their own ways, real-estate market watchers say. Some parts see a lot of sales but low prices; others, the opposite.

- Traditional resales: Fewer of these happen because of competition from cheaper foreclosures and short sales. The ones that sell best are in popular neighborhoods with good schools, near freeways and shopping centers. But the percentage of foreclosure homes listed for sale in metro Phoenix has dropped by 5 percent in the past year, so regular sellers have less competition and might soon find it more easy to sell.

- New-home sales: Homebuilding has slowed to a crawl in metro Phoenix as the market continues to sell the many houses built on speculation during the boom years. Even with low land prices, it's still hard for homebuilders to compete with the prices of foreclosure houses that were built less than five years ago.

- Foreclosure auctions: These have become very popular, and a large volume of homes sell at metro Phoenix trustee auction each month. But homes sell at auction for lower prices, and that makes the market's overall average sales price lower.

- Fannie Mae and Freddie Mac: Homes owned by these entities now dominate the metro area's market. But the agencies often change their policies on appraising, maintaining, renting and selling their houses, so some buyers and real-estate agents steer clear of the hassles of these deals.

- Short sales: This type of sale was rare a decade ago. Banks were reluctant to agree to them in the early part of the crash, but they have now become common. Because they're not a foreclosure sale, but also are not a traditional sale, the value of a short-sale transaction skews the overall market in ways that are hard to measure.

"The one indicator we can still count on is location," Ruff said. "Homes in the right areas will continue to sell for the highest prices."

Phoenix, AZ Foreclosures are down - Home prices slightly rising upwards

2011-07-13T09:39:00.001-07:00

"Foreclosures continue to be the dominant force in the market", states Jay Butler, professor at the W.P. Carey School of Business at ASU. Butler feels the housing market is making a glacial pace recovery, but emphansizes that he has seen the same seasonal report in the past two years without a significant recovery in the home-resale market overall.

Median home prices for single family homes in Phoenix, AZ in June 2010 was around $143,000. June 2011 shows a median price for a single family home to be around $126,500 for the Valley compared to a median price in May 2011 of $125,000. A slight increase is good news.

The number of foreclosure pre-filings has been declining for the last year. The Phoenix-area housing market had 3,280 single-family foreclosures in June, down compared to June 2010 which had 3,835.

In general, available home inventory is low, a sudden increase in listings could cause another decline in prices, though. Some areas of Phoenix, AZ are seeing a great improvement in housing prices. New home building is rising too.

The Arizona Housing department is administering federal funds for homeowners working towards a loan modification. The department has agreed to match up to $50,000 in principal reductions IF, lenders will agree. Only a few of these have been completed so far. The Arizona Housing officials say they are close to working with Bank of America principal reduction loan modifications. Let's hope this turns into hundreds :)

Tune into HGTV House Hunters today as Kathleen Mazzocco helps a couple relocate from Maryland to Phoenix, AZ

2011-06-03T15:17:00.000-07:00

Check your ocal TV Guide listings for time Featuring ANTHEM, ARIZONA
"John and Kim Bojonny are making a mid-life change and are relocating to Phoenix. They are looking for a home with an open floor plan, three bedrooms, two bathrooms, large closets and lots of extra space. With a $350,000 budget, their realtor, Kathleen Mazzocco is determined to find them exactly what they want."

Show highlights:
http://www.kathleeninarizona.com/hgtv-c11568.html

Phoenix Housing- Shadow Market Inventory nearly 100,000 homes - What Buyers are doing now

2011-05-28T10:09:00.003-07:00

The Shadow Market inventory are homes that are either in foreclosure or the homeowner is behind on their mortgage payments, showing signs hat these properties could eventually join the supply of homes offered by lenders for sale at a deep discount.But the Phoenix, AZ region is actually in much better shape than other parts of the U.S. hit hard by foreclosures, according to new analysis from a national real-estate group.Based on the region's long-term sales rate over the past 10 years, the number of homes in the shadows is about as many as would sell in a year. Thus, the firm calls it a 12month supply.

That puts the Valley in better shape than many similar markets.Based on their local 10-year average sales rates, according to Burns Real Estate's estimates:

- Orlando has a 23-month supply of shadow inventory
- the Bay Area, (in CA) has a 20-month supply
- Sacramento, CA has a 16-month supply

- Las Vegas has a 14-month supply

Homes are selling at foreclosure auctions at record-setting paces, with more than 1,300 sold in Maricopa County last month.The number of foreclosure and normal resale homes on the Arizona Multiple Listing Service is a five-month supply, based on the long-term rate of sales. These homes, because they're already listed,aren't part of the shadow inventory.So, Phoenix's combined supply of homes, including shadow inventory and current i nventory, should take 17 months to sell.

With the increase of Investment buyers: Many whom pay cash, helps to stablize the market. A cash buyer owns a house free and clear and is less likely to walk away.
Many homeowners who abandoned their homes during the crash did so because they lost little in the process, forfeiting only their small down-payments.

"Shadow inventory isn't a big problem looming for the ( metro) Phoenix market," said real-estate analyst Tom Ruff with Information Market. "The numbers have to be put in perspective. When you look at everything that's going on with home sales in Phoenix, you see that shadow inventory isn't something to worry about."

How will Home Values be impacted?
In early 2009, after seeing mortgages fail in historic numbers, lenders tried to resell a record supply of foreclosure homes in the Phoenix area, all at once.Buyers saw the supply was huge and kept their offers low, believing there were even more homes to come. The region's median home price, already battered by two years of downturn and recession, sank to 2003's level.
What buyers are doing now - and what they expect to happen soon - is key to the direction of any market. The area's supply of homes for sale continues to shrink, even as more foreclosure homes are listed or put up for auction, metro Phoenix's shadow inventory now doesn't appear large enough to prompt a waiting game for buyers.

Last spring, some analysts estimated the Valley had 18 months of shadow inventory looming over its housing market.New estimates of a smaller supply could mean metro Phoenix's housing market is poised to recover sooner than other areas" ( Metro) Phoenix has seen an overcorrection in prices" said housing analyst John Burns. "There are vacancies and shadow inventory. But now is the most affordable time to buy in my lifetime."He said the number of pending foreclosures in Maricopa County is falling rapidly because new foreclosure filings are down and lenders are clearing out more of their foreclosure backlogs. Inventory is low, homes are selling fast in the Phoenix, AZ real estate market.

Arizona Golf Club Memberships prices being slashed

2011-05-03T20:34:00.004-07:00

Arizona Golf Clubs all over Arizona, from Superstition Mountain in Gold Canyon to Seven Canyons in Sedona, have been hurt by the economy and Country-club exit lists that are years-long as members choose to cut their discretionary spending and live without memberships that cost from $500 to more than $1,000 in monthly fees, plus other charges for carts,lockers, shoe-shining, food and drinks. But the economic fallout is especially noticeable in Scottsdale, the pinnacle of the Valley's sprawling golf landscape of close to 200 courses. There are just too many golf courses for the metropolitan Phoenix market, said Roger Garrett, an Insight Land and Investments partner who has sold golf courses for 25 years."This is about the low-water mark I've ever seen," he said. Scottsdale's Sanctuary Golf Course was sold in the past month to Phil Mickelson and his agent, Steve Loy, for $2.2 million, a price far below its value of five years ago, Garrett said. Brad Klein, a GolfWeek magazine editor, said the problem at Phoenix and Scottsdale golf clubs is that real-estate development subsidizes the golf operations.

When members take over the golf cub from the real-estate developer, they are forced to cut operating costs or tax themselves to maintain the courses at a high level, he said."There is a statement in the industry that the third owner makes the money," Klein said.The third owner buys a course for $4 million that costs $20 million to build and $4 million to operate annually, he said.

Meanwhile, the value of memberships decline with the real-estate values."That's capitalism," said Klein, a retired political-science professor. "A golf-club membership is a commodity. It has no inherent value."

Membership fees that have been cut:
The Country Club at DC Ranch reduced its golf-membership cost to $75,000 from $135,000 in 2009 and has since gone to a market-based pricing system, with the average membership selling for $37,000.

The Boulders Club has non-equity memberships as low as $45,000, down from $55,000 two years ago, with monthly fees of $561.

Terravita Golf Club lowered its non-equitymembership fee a few weeks ago to $25,000 from $40,000, said Steve Mallory, Terravita's golf director.

Read more:
http://www.kathleeninarizona.com/archive_details.php?arch=1120

Anthem Arizona is showing signs of home values on the rise!

2011-04-16T17:24:00.001-07:00

Anthem Arizona is certainly showing some signs of rising home values due to cash home buyers purchasing properties above market value. At the same time, we are seeing an increase of investors purchasing properties located in Anthem, AZ at the trustee sales. Within days of the purchase, investors are putting dollars into making minor repairs, adding upgrades, and selling for a profit the newly upgraded home shortly after the original trustee sale.

Buyers are willing to pay more for homes that are move-in-ready. New carpet, paint, minor repairs fixed, filling pools with fresh water, are just some of the work that investors have done to bring up the property values for homes that have gone into foreclosure.

First quarter of 2011 Anthem Parkside had 111 homes sold, 42 were traditional or investor owned homes selling at an average price of about 16% above lender owned properties.

Contact me if you would like more information about the first quarter of 2011 home sales in Anthem, AZ. Send an email to: anthem@kathleeninaz.com or call 623.776.6217 today.

Anthem AZ Community Highlights and Homes for Sale in Anthem, AZ
http://anthemazhome.com/.

Roosevelt Dam celebrates 100 years

2011-03-20T11:33:00.000-07:00

Visitors celebrating the centennial of the Theodore Roosevelt Dam were able to walk across the crest of the structure for one day only, on March 19th. The dam was built by farmers in 1911 to fill the need for a 100 yrs supply of water. Arizona pioneered large-scale water banking, storing unused Colorado River water by pouring it into recharge basins to percolate into the ground for later use. So far, the state has banked about 1.6 trillion gallons. The philosphy behind the groundwater management laws are to use surface water and save the groundwater for a drought or other unexpected events. Experts are stating that at the pace that Phoenix is going, it has another 30 years to run without using non-renewable groundwater supplies
Read more:
http://www.kathleeninarizona.com/archive_details.php?arch=1069

CantaMia in Estrella Living Certified Green! Grand Opening celebration

2011-03-20T10:40:00.001-07:00

I attended a pre-Grand Opening of the newest community in Estrella - CantaMia last weekend. WOW! As you drive into the community you are greeted with views of mountains full of saguaros, the sun beaming down on the lake, palm trees, a state of the art recreation center and model homes. As I walked along the grounds viewing many inviting places to sit and just take in the beauty of the surroundings, I felt like I was in an oasis in the middle of the desert. It is a place worth considering to visit and live.
Contact me for additional information. Home prices range from about $140k to $355k.

Read more:
http://www.kathleeninarizona.com/archive_details.php?arch=1068

Taxpayers will ultimately pay back losses of nearly $400 billion due to foreclosures

2011-02-21T11:39:00.003-07:00

"Fannie and Freddie losses are passed onto taxpayers," said Anthony Sanders, a former professor of real estate and finance at Arizona State University, now with Virginia's George Mason University.

Most foreclosures now are on loans that were issued by banks but backed by Fannie Mae and Freddie Mac. Created to boost U.S. homeownership, the Federal National Mortgage Association and the Federal Home Mortgage Corp. buy from banks and now own half of all mortgages.

"I understand why some people want to walk away, but we should all understand who ultimately pays the bill for foreclosures," said Amy Swaney, former president of the Arizona Mortgage Lenders Association and Arizona manager of Citywide Home Loans. "Most foreclosures end up costing us all."

Those federal entities' losses are expected to near $400 billion before the foreclosure crisis ends, many of those losses could end up hitting taxpayers. Big investors included government pension funds and other public agencies.

"If the federal government begins bailing out pension funds," Sanders said, "then the taxpayer pays for that, too."
Read more:http://www.kathleeninarizona.com/archive_details.php?arch=1049

Tune into HGTV House Hunters TODAY! Watch as I help a Maryland couple relocate to Anthem, AZ

2011-02-04T12:31:00.003-07:00

Show Highlights:
http://www.kathleeninarizona.com/hgtv-c11568.html

"A Couple Relocates to Phoenix for a New Mid-Life AdventureJohn and Kim Bojonny are making a mid-life change and are relocating to Phoenix.
They are looking for a home with an open floor plan, three bedrooms, two bathrooms, large closets and lots of extra space. With a $350,000 budget, Kathleen Mazzocco, their realtor, is determined to find them exactly what they want".

Brent White's seminar for homeowners underwater last Thursday sold out

2011-01-30T12:32:00.007-07:00

I attended the sold-out webinar on January 27th. Brent White is a professor at the University of Arizona, attorney, and author of the "Underwater Home". Known as a controversial figure for his academic writings, and lectures on the topic of STRATEGIC DEFAULT. He does not advocate walking away, but does insists it is not a moral issue but rather a business decision. I am seeing this shift in the Luxury home market (whereas the negative equity is over $100k) and baby boomers whom are not too far away from retirement and don't have the years to invest in waiting for the market to recover. Rather they prefer to take their losses now and wait a few years to rebuild their credit to invest in real estate again. Most economists and market analysis predict it will be years before the Phoenix area housing future comes into full view. Zipcodes like 85009 which have had an 81% drop in market value may never recover. Even if homes were to double in value twice, it still would not be worth half as much as they used to be. High unemployment rates, increase in bankruptcies, economic hardships, and more home buyers becoming renters all impact the recovery process. Brent White demonstrated many different scenarios and formulas to help homeowners attending the seminar determine whether it is worth putting themselves, and their family through the stressful process of strategic default, in some cases it is just not worth it. One concern he pointed out was supplying lenders with current financial information that could be used against them later if a loan modification does not work out.

There is a lot of emotional feelings (ups and downs like a roller coaster) when a homeowner considers "walking away". This book walks homeowners through all the parts involved in the process of considering a STRATEGIC DEFAULT. Is it a moral obligation or a business decision? Obligations to society and to your neighbors (ch.1) Brent has some great analogies to convince homeowners to stay put (ch. 3 & 4) or do you need to move because of a job transfer? He covers a wide range of topics and questions most homeowners have on their minds like: tax consequences, fear of being pursued by their lender (ch.2), buying and bailing (ch.4).

I highly recommend reading this book today if some of these concerns and questions lay heavy on your heart and mind.

Read more:
http://kathleeninarizona.com/archive.php?dfilter_id=73

HAFA Changes may begin Feb 1st - Will the revisions help Short Sales?

2011-01-26T09:41:00.017-07:00

Short Sale vs Foreclosure is still on the minds of many homeowners in 2011.
The revisions to the HAFA guidelines are in the right direction, but the revisions to HAFA do not apply to first lien mortgages that are owned or guaranteed by Fannie Mae, Freddie Mac, or insured by a federal agency such as the Federal Housing Administration. Moreover, servicers are not required to implement the new rules to any loans retroactively. It is important to find out who services your loan and get the advice from a HUD counselor for FREE.

Servicers are only required to implement these changes on new files effective February 1, 2011. So, if you have a HAFA short sale at one of the lending institutions right now, it is being reviewed under the old rules. Servicers are not required to implement the new rules to any short sales retroactively.

An example of a common short sale delay is in cases whereas a second lienholder is NOT accepting the amount offered by the first lienholder, below is the direction recommended to servicers:
Release of Subordinate Liens Subordinate mortgage/lien holders will continue to be paid in order of priority as set forth in Section 6.2.4.2 of Chapter IV of the Handbook. However, servicers are no longer limited by the six percent cap with respect to payments to each subordinate mortgage/lien holder. The servicer, on behalf of the investor, shall determine the amount or percentage of the unpaid principal balance of the lien that will be paid to each subordinate mortgage/lien holder until the $6,000 aggregate cap is reached. Each servicer must include in its HAFA Policy how subordinate mortgage/lien holders will be paid. Investors continue to be eligible for incentive reimbursement for up to one-third of the cost to extinguish subordinate liens as described in Section 12.3 of Chapter IV of the Handbook.

Mortgage servicers and investors write their own guidelines under the Federal requirements to determine how to implement the program. For more information about your options, you should contact your mortgage servicer.

If you have questions about the program, or want guidance about how these options may impact your personal situation:

Contact your mortgage servicer
http://www.makinghomeaffordable.gov/contact_servicer.html

Speak to a HUD-approved housing counselor for free.
http://www.makinghomeaffordable.gov/counselor.html

Who services your loan? (easy to use links to find out quickly below)

Does Fannie Mae service your loan?:
http://www.fanniemae.com/loanlookup/

Does Freddi Mac service your loan?:
https://ww3.freddiemac.com/corporate/

Consider all your options and consult an attorney.

HAFA proposed revisions: http://kathleeninarizona.com/archive_details.php?arch=1040

Bank of America to Halt foreclosure notices in AZ AGAIN - 1st time Judicial States/2nd time Non-Judicial States - AZ is BOTH! GETS HIT TWICE!

2011-01-25T10:11:00.013-07:00

The first round of foreclosures halted by Bank of America were in the Judicial States, now the Non-Judicial States are being halted due to the Robo-Signing crisis. Arizona is both! (a judicial and non-judicial state). Not good, Arizona has 3 of the 4 rising foreclosure rates amoung others like California & Nevada. The halt in October caused delays in inventory coming to the market (which BOFA holds about 23% of the share of lender owned property here).

"The prolonged curtailment in NOD (notices of default) volume will lead to fewer foreclosure completions in 2011 than forecast," notes mortgage consultant Mark Hanson. "After four months of total uncertainty over the entire foreclosure process nationwide, it will have consequences on the mortgage, housing, and related sectors."

Hanson says distressed loan pipelines are "poised to get out of control beginning in Q1"

Understanding the difference
Simply stated, the non-judicial foreclosure process starts with a Notice of Trustee Sale recorded with the county. The foreclosure process is done outside of the judicial system and the home is sold at a Trustee Sale 91 days after the notice is recorded. Unless, the homeowner is able to come to terms (reinstate) with the mortgage lender prior to the trustee sale, the home will be sold. The judicial foreclosure process is a civil lawsuit filed in the court system by the mortgage holder against the borrower. Once the mortgage holder obtains a judgment, the court will direct the mortgaged property to be sold to satisfy the judgment. The property will be sold by the County Sheriff by conducting an auction. There is no right of redemption once a Trustee Sale occurs, but there is a redemption period prior to a Sheriff Sale. The borrower can pay the entire balance of the mortgage and may even have certain statutory rights of redemption after the Sheriff sale.
(A.R.S. 33-807, 33-808, 33-809 and A.R.S. 33-721, 33-752, and 33-725)

Read more:
http://kathleeninarizona.com/archive_details.php?arch=1035

Canadians will have tougher mortgage rules begining March 18th

2011-01-25T06:39:00.001-07:00

TORONTO - Canada is tightening mortgage rules over concerns that Canadians are taking on too much debt, the country's finance minister announced Monday.
Finance Minister Jim Flaherty said the maximum amortization period for government-insured mortgages will be shortened to 30 years from 35 years.
Ottawa is also lowering the limit on how much money Canadians can borrow using their homes as equity to 85 percent of the value, from 90.

The new rules go into effect March 18.

read more: http://kathleeninarizona.com/archive_details.php?arch=1032

Anthem Family featured on TV show DOWNSIZED on WETV on Saturdays

2010-11-13T12:43:00.007-07:00

Be sure to watch "DOWNSIZED" on WETV on Saturday nights.

A reality show featuring this courageous Anthem, AZ family working together as they face financial challenges and work through it together! This blended family - Todd with his two children, and Laura with her five children, married during the financial good times and now are downsizing due to the loss of Todd's business and their home. They do manage to work together one day at a time towards rebuilding what they lost financially, while keeping the family together happily.

"I find this show really hits close to home and is hard to watch sometimes because our family is having to make the same sacrifices too" --Neighbor in Anthem

Meet the Cast - Todd & Laura Bruce and their seven children

http://kathleeninarizona.com/downsized-f21117.html

Episodes

Call Me Dad
When Whitney decides she wants to call Todd "Dad," she encounters a surprising amount of resistance. Bailey dreams of attending a four-year college, but Laura doesn’t believe it’s possible financially. Will Laura encourage her daughter to follow her dream anyway?

Cruel Cruel Summer
After an eye-opening meeting with a financial planner, the Bruce family begins to make serious lifestyle changes. The kids agree to give up their favorite activities, and Laura sacrifices her vice. Don't miss this episode!

Down But Not Out
The Bruce family struggles to come up with all of the rent money. Fearing eviction, they spring into action. Tune in to see how what each of them are doing to contribute.

Kansas City Blues
Just as the Bruce-Rumsey family is starting to regain a normal family life, they face their most agonizing choice yet. Todd is offered a high paying job – but one with one giant drawback. Tune in to see what it is!

Love Don't Cost a Thing
After having issues on a hike, Laura worries about an upcoming MRI to make sure her Multiple Sclerosis isn’t progressing. Plus, Rex has a crush on Whitney’s friend. Tune in to see what happens on his doube date!

2010-11-12T09:52:00.003-07:00

The Outlets At Anthem's annual tree lighting ceremony hits it's 9th year and the tree, along with the festivities, get bigger and better every year.

This year boasts the tallest, fresh cut tree in the United States, and with Santa leading the lighting countdown, and prizes and concerts to enjoy throughout the whole weekend, looks like a good time for the whole family.

For all of the details, click here: http://kathleeninarizona.com/archive_details.php?arch=976

Anthem HOA fees will NOT be raised in 2011

2010-11-10T08:17:00.001-07:00

ANTHEM HOA HAS SOLID CASH RESERVES AND NO DEBT
The new budget begins January 1, 2011

"The Anthem Community Council is in a stronger position than many other organizations dealing with the impact of the economic recession" said Jenna Kollings, Anthem's Community Council's executive director.

The council recently approved an $8.6 million budget for 2011 down from $8.7 million for the year 2010. Over $750,000 in savings is realized in the 2011 budget which is good news for the residents of Anthem in recognition of the current economic climate.

To find out what Anthem residents pay in HOA fees goto
http://www.kathleeninarizona.com/anthem-hoa---utility-info-c15577.html

Ecotality To Install Electric-Car Chargers in Public Places Soon

2010-10-30T08:07:00.005-07:00

If you live or work near the downtown areas of Phoenix, Scottsdale, Glendale or other neighboring cities, you'll likely see electric-car chargers in public places within the next

year.

Ecotality Inc., which has operations in Phoenix, revealed maps Tuesday that show the most likely regions where it will install the chargers using $114.8 million in stimulus-act "We want to make it possible for somebody with a plug-in electric vehicle to use that vehicle without fear of running out of electricity," said Litchfield Park Mayor Thomas Schoaf, who serves as chairman of the Maricopa Association of Governments, a stimulus project.

Beginning this year, Ecotality will use the stimulus money to provide free chargers for 5,700 Nissan Leaf buyers, 2,600 Chevrolet Volt buyers, and installing additional chargers in public places where those buyers live.

Read the full article here: http://kathleeninarizona.com/archive_details.php?arch=947

Bank of America stops foreclsoures in Arizona

2010-10-09T08:56:00.003-07:00

Bank of America, Arizona's largest home mortgage lender, said Friday that it has extended a 23-state moratorium on bank owned home sales to all 50 states while bank officials review the way they process foreclosures.

BofA and other big mortgage lenders are facing mounting pressure over how they handle foreclosure-related documents, with growing attention to reports of incomplete or inaccurate documents that aren't subject to rigorous verification before bank officials sign off on them. The moratorium gives the bank time to review and address concerns about whether foreclosures have been completed properly.

Some Phoenix-area homeowners, lawyers and real-estate professionals said the Charlotte, N.C.-based Bank of America Corp.'s 60-word statement about the moratorium was confusing, vague and potentially hurtful to the battered local housing market.

"Bank of America has extended our review of foreclosure documents to all 50 states," the BofA statement said. "We will stop foreclosure sales until our assessment has been satisfactorily completed. Our ongoing assessment shows the basis for our past foreclosure decisions is accurate. . . . Providing solutions for distressed homeowners remains our primary focus."

After BofA's announcement, U.S. Senate Majority Leader Harry Reid, D-Nev., called on major lenders to halt foreclosures nationwide. He joins a long list of homeowner advocates, lawmakers and state attorneys general who have called for greater scrutiny of the foreclosure process.

In Maricopa County, there are currently 39,042 single-family residences or condos with an active notice of trustee's sale, according to Information Market's analysis, of those, 12,198 pending foreclosures, or 31.2 percent, show Bank of America offices as the beneficiary and ReconTrust as the trustee.

Information Market determined that 4,551 of the 20,850 bank- and government-owned homes currently in its database were BofA foreclosures, which is about 22 percent.
Analysts believe that Bank of America will temporarily suspend foreclosures to prevent a backlog of bank-owned homes from accumulating. This could unintentionally help borrowers who have stopped making payments yet are still living in their homes. For many of these individuals, the payment free periods could extend even longer.

Mesa attorney James Portman Webster said he believes the moratoriums are primarily aimed at helping Bank of America and other lenders rather than homeowners
"It's going to push back foreclosure dates," Webster said. "It's going to put everything on pause temporarily." He said he has a few delinquent clients who have been living in their homes as long as three years while waiting for banks to seize their properties.

The bottom line is, another major delay for the housing market to rebound.
Read more: http://kathleeninarizona.com/archive_details.php?arch=931

Foreclosures due to come onto the market most likely will be delayed due to Flawed Foreclosure Documents

2010-10-08T16:21:00.010-07:00

Many of us drive through our neighborhoods passing many vacant homes scheduled to be foreclosed on by the homeowner's lender soon. As a neighbor nearby, you are hopeful to have a new family move into the property soon to care for it and call it "Home".

Well, these properties may just stay empty a bit longer, some experts say as long as 12 months. Due to the volume of paperwork which had been rushed by the desks of the lenders foreclosure departments to help expedite the process to get these vacant homes on the market, has caused a slow down for any rebound in the near future for the housing market. Homes due to go through foreclosure or be purchased, are now being held in a "freeze" in order for a review of "flawed foreclosure documents".

If the homeowner was not paying their mortgage and moved out of the property and their paperwork was not processed correctly were they wrongly foreclosed on?

If they were, can they afford to move back in and catch up on past due payments?
Do they want the property back? What percentage of these foreclosures have homeowners wanting back the property?

If this delay helps those that were paying their mortgages on time and forced out of their homes because of a paperwork mistake, that is great. But I don't think that this is what this is about. It is just another headline to blame lenders for all their wrongdoings and try to hurt them more.

Unfortunately, it is hurting the Buyers purchasing these lender owned homes right now.

Read more: http://kathleeninarizona.com/archive_details.php?arch=930

2010-10-04T08:33:00.012-07:00

Recession To Blame For Drop In Homeownership As Well As Marriage Rates

The recession seems to be socking Americans in the heart as well as the wallet: Marriages have hit an all-time low while pleas for food stamps have reached a record high and the gap between rich and poor has grown to its widest ever.

The economic "indicators say we're in recovery, but the impact on families and
children will linger on for years," he said. For example, in America, marriages fell to a record low in 2009, with just 52 percent of adults 18 and older saying they were joined in wedlock, compared with 57 percent in 2000.

Marriages have been declining for years because of rising divorce rates, more unmarried couples living together and increased job prospects for women. But sociologists say younger people are also now increasingly choosing to delay marriage as they struggle to find work and resist making long-term commitments.

Besides marriage, homeownership declined for the third year in a row, to 65.9 percent, after hitting a peakof 67.3 percent in 2006. Residents in crowded housing held steady at 1 percent, the highest since 2004, a sign that people continued to double up to save money.

Read the complete article on these and other effects of the recession here: http://bit.ly/bL8FaE

Short Sales Complicated by HAFA -another failing Federal Program

2010-07-15T17:25:00.003-07:00

HAMP
Home Affordable Modification Program - not a long term solution, not working for most homewoners

HARP
Home Affordable Refinance Program - too many homeowners own more than 125% of the home's current value -not working

HAFA
Home Affordable Foreclosure Alternatives - Provides incentives for homeowners and lenders to complete a short sale - process is becoming more complicated

HAMP, HARP, HAFA, they all sound more like "Don't HAFTA pay the mortgage payment".

Read entire article:
http://kathleeninarizona.com/archive_details.php?arch=889

Pioneer Village saving a place of Arizona History

2010-07-14T16:45:00.003-07:00

Phoenix to bid $3.2 million on Thursday

Pioneer Village a living monument to the faith, foresight, and fortitude of Arizona's Pioneers.

Mr. and Mrs. Robert Lockett donated a state land lease to the museum. The Locketts were members of a sheep ranching family that had been established in northern Arizona since the early 1880's.

The history of Arizona is represented in all its diversity, from the time of the Spanish Conquistadores to the achievement of Statehood in 1912.

If you haven't had a chance to visit this wonderful place of history, take a day to take a trip back into time. It is amazing to see how the Pioneers lived in the heat of the summer !
For hours and directions:
http://pioneeraz.org/about.html

Read entire article about the purchase of the Pioneer Village
http://kathleeninarizona.com/archive_details.php?arch=888

Phoenix July4th local and statewide events to enjoy this weekend

2010-07-04T08:10:00.003-07:00

Scottsdale

Grand Ol' Fashioned Picnic: 5-7:30 p.m. July 4. Celebrate with old-fashioned games, patriotic arts and crafts, and watermelon, chili and pie-eating contests. Bring your homemade chili to be judged. Scottsdale Stadium, 7408 E. Osborn Road, Scottsdale. Free. 480-312-2771. www.scottsdaleaz.gov/events.asp. Map it

July Fourth Celebration: 5-8 p.m. July 4. Tug-of-war, live music and crafts, watermelon eating contest and more. No fireworks. Eldorado Park, 2311 N. Miller Road, Scottsdale. Free. 480-312-2771. Map it

Independance Day Bounce: 9-11 a.m. July 4. Flags, balloons and bouncing to celebrate the Fourth of July. BounceU, 8970 E. Bahia Drive, Suite 104, Scottsdale. $6.95 for first child; $5.95 for each sibling. 480-502-0210. http://www.bounceu.com/. Map it

More area links and maps:
http://kathleeninarizona.com/archive_details.php?arch=885

Anthem Arizona semi-annual Home Sales 2010

2010-07-03T17:06:00.007-07:00

TRADITIONAL Sales by homeowners are netting much higher sales!

As the number of Short Sale listings increase, the home values for these type of transactions are decreasing area home values. It is great to see the number of traditional sales by property owners netting sales above market value, but those are mainly due to cash buyers.

The record number of foreclosures in the last few months will become a lot of the inventory the second half of this year. Lender owned sales have been steady selling at market value. No huge dips up or down yet. Unlike the downward trend we can see in the short sale transactions compared to 2009.

FREE Sales Comparison Chart to view the current Home Sales Market Trend in the Anthem Country Club, Anthem Parkside Westside, Anthem Parkside Eastside. Kindly send an email request by clicking onto the link below:

http://kathleeninarizona.com/contact_me_-p1271.html

Mortgage Rates lowest on record!

2010-06-25T14:33:00.002-07:00

Mortgage rates fell this week to the lowest level on record, giving consumers added incentive to lock in low payments on home purchases and refinancings.

Mortgage rates have fallen over the past two months. Investors wary of the European debt crisis and the turbulent stock market have shifted money into the safety of Treasury bonds, driving down yields. Mortgage rates tend to track the yields on long-term Treasury debt.

Mortgage company Freddie Mac said Thursday that the average rate for 30-year fixed loans sank to 4.69 percent, from 4.75 percent last week.
That's the lowest since Freddie Mac began tracking rates in 1971. The previous record of 4.71 percent was set in December. Rates for 15-year and five-year mortgages also hit lows.

Rates on 15-year, fixed-rate mortgages fell to an average of 4.13 percent, the lowest on records dating to September 1991 and down from 4.2 percent a week earlier.

READ more:
http://www.kathleeninarizona.com/archive_details.php?arch=876

Phoenix economy slowly recovering

2010-06-24T08:51:00.002-07:00

The Phoenix economy is slowly recovering, according to reports.

The Brookings' Mountain Monitor report, found recently the Valley's real estate-based economy is struggling to rebound. The Monitor identifies a number of economic success indicators and compares data for the region's major metropolitan areas.

There are many reasons for the slow recovery in employment, according to the Monitor. With the Valley's economy based largely on growth and real estate, there were few other major industries to support the region after the housing bust and the financial meltdown. Real-estate and construction jobs disappeared, followed by jobs at businesses that fed off the industry, the report said.

According to the U.S. Labor Department, Arizona had a 9.1 percent unemployment rate in 2009, up 6 percent the previous year.

Anthem Foreclosures on the Rise

2010-06-24T08:33:00.005-07:00

The number of foreclosures in Anthem quadrupled during the first five months of this year, according to numbers provided by a national firm that tracks the data. Arizona Regional Multiple Listing Services, IMAPP Inc company based in Tampa, Fla., collects property and tax information from counties such as Maricopa County. The numbers for the Anthem community show that foreclosures rose over the past three years:

• 2010: 288 houses were foreclosed on, January through May.
• 2009: 69 houses were foreclosed on, January through June; 148 houses July through December.
• 2008: Two homes were foreclosed on, January through June; 15 houses July through December.

The Anthem Community Council wrote off $433,608.19 of uncollectable debt from fees that council had assessed homeowners. These accounts were 999 days past due (3 yrs) and most of the people had moved out of state and there is no way to collect according to spokesperson, Karen Angelo.

Based on this current information, we can expect more lender owned property inventory to continue entering the market for quite some time.

Does Arizona have a redemption period for homeowners after foreclosure?

2010-06-16T17:36:00.003-07:00

Does Arizona Law Allow for a Redemption Period After a Foreclosure?

I have had many buyers that are purchasing bank owned properties ask me this question:

Can the homeowner that has been foreclosed on have a redemption period to get their property back?

Does Arizona Law Allow for a Redemption Period After a Foreclosure?

Arizona law does allow the borrower a set amount of time after the foreclosure sale to redeem the property if the property foreclosure occurred through the judicial system and the property was not abandoned prior to the foreclosure. If those two criteria are met then the borrower has six months from the date of the foreclosure sale to pay all outstanding loan amounts, fees and costs and to redeem the property. However, if the foreclosure occurs out of court, a so called non judicial foreclosure, then the borrower does not have the right to redeem the property.

Keep in mind, most of our Foreclosures are by Trustee Sales which are non-judical.

Arizona Monsoon Season begins June 15th

2010-06-15T08:11:00.009-07:00

For decades, the Weather Service marked the monsoon with a technical measurement. The monsoon began when the average daily dew point was 55 degrees or greater for three consecutive days. The season began on the first of those days.
Typically, that meant the first week of July.

But in 2008, the Weather Service decided to keep things simple. The Arizona monsoon season, it says, starts June 15 and ends Sept. 30.

The idea was that people were getting too hung up on figuring out when the season started and were not paying attention to the storms. Those can be quite dangerous, with high winds, lightning and some flash flooding. So, the Weather Service put an end to all that and gave dates to the season. "It's basically summer plus a week or two on either side," said Doug Green of the Weather Service.

Monsoon facts

Recent start dates

2000: June 17

2001: June 21

2002: July 9

2003: July 18

2004: July 12

2005: July 18

2006: July 2

2007: July 19

2008: July 3*

2009: June 30*

Average rainfall by month

June: .09 inch

July: .99 inch

Aug.: .94 inch

Sept.: .75 inch

*Unofficial.

Source: National Weather Service

Adult Communities seem to be maintaining their value

2010-06-07T14:27:00.004-07:00

Age-restricted communities have weathered the housing crash and the down economy better than other developments. Read more:
http://www.kathleeninarizona.com/archive_details.php?arch=861

PebbleCreek in Goodyear is a gated, Active Adult Golf Community offering two championship golf courses, indoor and outdoor pools, whirlpools, saunas, tennis, state of the art fitness centers, bocce and pickleball courts, creative arts center, performance/movie theatre, aerobics, yoga, dance, and social clubs are available to keep residents active and enjoying the beautiful sunny weather here in Phoenix, AZ.

Whether it is a place to call home all year round or a second home to escape the cold winter months, enjoy resort style living at its best! If you are moving from out of state, consider a furnished home, priced under $200k.

More info and photos: http://homeinpebblecreek.com/

Helpful website links to help keep your home cooler

2010-06-01T08:12:00.003-07:00

Several websites offer cost-saving energy tips to help keep your home cooler this summer.

Alliance to Save Energy - offers money-saving energy practices and improvements for the summer months. www.ase.org/content/article/detail/1078

U.S. Dept. of Energy - offers a variety of home-related topics and discusses summer energy savings. www.energysavers.gov/seasonal/

Tax Credits helped sales but did not help increase home values

2010-05-27T08:15:00.007-07:00

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.

Short Sale process can be painful for Sellers

2010-05-26T12:21:00.006-07:00

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.

SaveMyHomeAZ.gov Coming Soon to help Phoenix Homeowners

2010-05-16T08:25:00.007-07:00

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

2010-05-10T18:35:00.001-07:00

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

2010-05-08T09:26:00.002-07:00

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

2010-05-08T09:03:00.003-07:00

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

2010-05-05T07:21:00.001-07:00

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

Phoenix Housing Market - A look at the boom and the bust

2010-04-25T08:59:00.004-07:00

Today's Phoenix home sales are running near record levels, but the dynamics are a bit different than other areas of the country. Investors represent about 50% of current home sales, the dollar amounts may be lower due to low-cost foreclosures, but speculative buyers dominate the market right now. We are seeing some homes being fixed and flipped. Investors who purchased foreclosures in the last 18 months may want to flip quickly, but forecasts say they will have to hold on to these properties for a few years to make a profit.

The psychology of the metro Phoenix housing market will be a critical piece to the future.
The return of a more dominant long-term mind-set buyer that sees houses as HOMES could help anchor a new economic model, a plan that looks beyond the next growth boom. A continued short-term speculative view could maintain the boom-and-bust cycles that have characterized Phoenix's economy for the past 50 years.

As many as 40% of all metro Phoenix homeowners are currently underwater, meaning they owe more on their mortgage than their house is worth. Will they stay for the long-term or walk away?

Read more:
http://www.kathleeninarizona.com/archive_details.php?arch=832

Phoenix Green Rail Corridor receives grant to GO GREEN

2010-04-22T08:31:00.003-07:00

Happy Earth Day! The US Energy Department awarded the city of Phoenix a $25 million economic-stimulus grant to creating 2700 jobs to help make buildings and homes greener along the 10-mile stretch of the light rail. The goal is to elimate carbon emissions by 50,000 metric tons over the next six years. Homes and Office Buildings will receive energy-efficient windows and lighting. Workers to install insulation, replace air-conditioning units, water heaters and providing residents with APS smart meters to help them learn about and reduce their energy consumption.

Phoenix is headed toward being the Greenest City in the Nation!

Read more: http://kathleeninarizona.com/archive_details.php?arch=830

Ways to help assess the value of your home

2010-04-21T07:31:00.004-07:00

Valuing a home today in metropolitan Phoenix is difficult for many homeowners.
Foreclosures and short sales weigh heavily on comparable-sales figures, the "comps," in every neighborhood. How those below market sale prices affect a home's value varies by neighborhood.
• Mike Orr, publisher of the Cromford Report that tracks ARMLS data, says to use a number of methods, including the assessor Web site, obtaining a competitive market analysis from an agent and paying for an appraisal to obtain the best overall estimate of a home's value. "The reason people think it's difficult ( to value a Phoenix home) is because they usually have a hard time accepting the answer they get," Orr said. "It makes them nauseous."

For a FREE Market Analysis of your property email your request to value@yourhomeinaz.com

Read more: http://www.kathleeninarizona.com/archive_details.php?arch=828

RESTORE in Anthem, AZ Opens Saturday 9-1

2010-04-10T08:49:00.006-07:00

RESTORE comes to ANTHEM, AZ
Grand Opening Saturday from 9:00 a.m. - 1:00 p.m.

This will be Habitat for Humanity's fourth RESTORE to open.
Consumers can give their home a new look without breaking the bank. They can purchase things at 40% - 70% off. The merchandise is donated by business clearance and closeouts. Everything from light fixtures to hardware. Valley homebuilders donate from model homes. Other donations are received from Lowes, Home Depot, and Barnes & Nobles, and individuals. Some items may be gently used.
For more info: http://kathleeninarizona.com/habitat-for-humanity-f10464.html

Arizona Foreclosure Aid meeting highlights

2010-04-09T09:18:00.004-07:00

Arizona Aid for Foreclosure meeting highlights:

A public meeting hosted Wednesday by the Arizona Housing Department to share and receive feedback on how it plans to spend $125 million in new federal funds to fight the foreclosure crisis.

Only homeowners living in "modest" primary residences would be eligible, not investors.
And anyone who applied for help would have to demonstrate their risk of foreclosure was due to reduced income from unemployment, a medical condition, divorce or death.

"We can't be all things to everyone," said Housing Department Director Michael Trailor . "This $125 million might seem like a lot of money. But when facing Arizona's foreclosure problem, it's not."

Read more: http://kathleeninarizona.com/archive_details.php?arch=825

Phoenix Foreclosures hit a record at 5,556 in the month of March

2010-04-07T09:46:00.000-07:00

In March, a record number of homes were foreclosed on in metropolitan Phoenix.
Lenders foreclosed on 5,556 properties. Also, an increse of 30% in pre-foreclosures was also reported as the number rose to 8,045 in March.

Six of seven bills that made up the proposed Foreclosure Rescue for Arizona Act were never heard in the Legislature. Would this have helped those homeowners that were struggling to stay in their homes?

Some legislation that may help homeowners facing foreclosure are House Bills 2626 and 2309, and Senate Bill 1130.

Read latest news and articles at www.KathleenInArizona.com for more information.

Vacant Land owners can face judgment after foreclosure

2010-04-07T09:36:00.000-07:00

Arizona's anti-deficiency statues protect HOMEOWNERS from pesonal liability after foreclosure sale on loans used to PURCHSE a home, but they do not protect owners of vacant land.

Read more at www.KathleenInArizona.com

Latest Real Estate News

New HAFA Short Sale Program begins

2010-04-06T09:15:00.000-07:00

Home Affordable Foreclosure Alternatives Program: Overview

The Home Affordable Foreclosure Alternatives (HAFA) Program provides additional options to avoid costly foreclosures and offers incentives to borrowers, servicers and investors who utilize a short sale or deed-in-lieu (DIL) to avoid foreclosures. HAFA alternatives are available to all HAMP-eligible borrowers who: 1) do not qualify for a Trial Period Plan; 2) do not successfully complete a Trial Period Plan; 3) miss at least two consecutive payment during a HAMP modification; or, 4) request a short sale or deed-in-lieu.

In a short sale, the servicer allows the borrower to list and sell the mortgaged property with the understanding that the net proceeds from the sale may be less than the total amount due on the first mortgage. Generally, if the borrower makes a good faith effort to sell the property but is not successful, a servicer may consider a DIL. With a DIL, the borrower voluntarily transfers ownership of the property to the servicer - provided title is free and clear of mortgages, liens and encumbrances. With either the HAFA short sale or DIL, the servicer may not require a cash contribution or promissory note from the borrower and must forfeit the ability to pursue a deficiency judgment against the borrower.

HAFA simplifies and streamlines the short sale and DIL process by providing a standard process flow, minimum performance timeframes and standard documentation.

For more information goto:
http://www.makinghomeaffordable.com/contact_servicer.html

Federal Aid for Arizona Foreclosures

2010-03-31T14:37:00.000-07:00

• Arizona is receiving more federal aid due to its foreclosure crisis. It's one of five states divvying up $1.5 billion in additional federal funds to slow foreclosures. Arizona's share is $125 million, and the state is charged with creating its own plan to spend the money.
The Arizona Department of Housing is holding a public meeting next Wednesday to discuss its proposed program for spending the money to help the many residents facing foreclosure.
The meeting will be held at 1 p.m. at Phoenix's Carnegie Library. Seating is limited, so anyone who wants to attend should contact the Housing Department to reserve a spot.

• Arizona is also receiving additional funds to help fight mortgage fraud, which has led to many foreclosures. U.S. Attorney General Eric Holder was in Phoenix on Thursday and pledged $1.7 million to help fight mortgage fraud in Arizona.

Read more:
http://kathleeninarizona.com/archive_details.php?arch=818

Bank of America to lower principal balances - Read Carefully

2010-03-25T09:38:00.000-07:00

This program will not help those that have a 30 year fixed mortgage. It is aimed at those that owe 120% of the current market value, and customers with certain adjustable rate and high interest rate mortgages (majority of which seem to be the mortgages that BOFA inherited from Countrywide).

Less than 1 percent of the country's estimated 11.3 million underwater mortgage borrowers are eligible for the program, announced Wednesday, but it could spark other lenders to do likewise, one Arizona State University finance professor said A decision by Bank of America's home loan subsidiary to begin systematically lowering the principal balance on an estimated 45,000 customers' onerous mortgage loans has left some wondering if it's the start of a broader trend.

Still, that doesn't mean Arizona homeowners should wait by the phone for their lender to call with the good news, said Tanya Wheeless, president and CEO of the Arizona Bankers Association.

"The Bank of America program is not going to help everyone, nor is it a program that is likely to be replicated," Wheeless said. "There is no groundswell."

In many cases, the bank servicing a mortgage lacks the authority to lower its principal balance, Wheeless said, because the loan itself is backed by a private investor or another bank.
But more than anything, she said, lowering a past-due borrower's loan principal just doesn't feel right to most lenders.
"It's not something that would be accepted wholesale by the lending industry," she said.
Kaufman said he would not be surprised if the mounting political pressure to help struggling homeowners forced banks out of that comfort zone.
"There is clearly a political gain to be gotten from implementing a program like this," he said.

Read more:
http://kathleeninarizona.com/archive_details.php?arch=813

How to grown vegetables in Arizona - know your seasons

2010-03-20T09:36:00.001-07:00

There is a secret to growing veggies in Arizona - knowing your seasons. Spring in Wisconsin is much like autumn in Arizona. Planting tomatoes in May can lead to heartache in July. The Midwest's planing cycle is turned on its head in the desert.

The desert has two growing seasons - Spring and Fall.

Jim Dennis, master garderner, has 10 great tips for gardening in the desert.

Read more : http://kathleeninarizona.com/archive_details.php?arch=811

Chapter 13 helping Homeowners underwater to modify a home equity line

2010-03-19T00:05:00.000-07:00

Today's Wallstreet Journal - When it's okay to walk away from your home.

Here is an interesting fact for homeowners who make too much money for Chapter 7:

Understand how a Chapter 13 might help you after all. Chapter 13 is "bankruptcy lite," for those whose income is too high to qualify for a Chapter 7. It involves a debt repayment plan (it's something like the Chapter 11 bankruptcy process used by corporations, though not as generous). In Chapter 13, the courts work out how much of your unsecured debts you can reasonably repay and set up a schedule to repay it.
Chapter 13 will not reduce the value of your primary mortgage. But make sure your counsel understands a little-known gap in the law that can help distressed homeowners who either have two mortgages, or one mortgage and a home equity line on top. If the property value has fallen so far that the primary mortgage is now under water, the courts can rule that the second mortgage is now an unsecured loan. And that, miraculously, means they can modify it. An example: You take out a $200,000 first mortgage and $50,000 second mortgage to buy a home for $250,000. The home then falls in value to $180,000. As that's not even enough to cover the first mortgage completely, the second mortgage now has no collateral against it at all. The court, in most jurisdictions, can now modify that second mortgage the way they could other unsecured debt, such as a credit card payment.That could include reducing it to zero.

Read the entire article:

http://online.wsj.com/article/SB10001424052748703795004575087843144657512.html

Changes HAFA will offer to the Short Sale process

2010-03-18T11:31:00.000-07:00

Will the changes in the Short Sale process really change? Critics are waiting to see how the first transaction goes.

HAFA begins April 5th and will offer tighter timelines for both homeowners and banks so that the short sale process does not drag on for months. But, there is no serious punishment for banks who don't comply only small financial incentives to particiapate if a transaction is successful. The lender receives $1,000 and the homeowner receives $1,500. Unfortunately, the strict homeowner eligibility requirements linked to HAMP (loan modification program) has not changed for HAFA. Second lien holders may reject the deals. HAFA offers them no more than $3,000 in sale proceeds, no matter the size of the loan.

The good news is that under HAFA the Lenders must notify borrowers up front what the minimum buyer offer they will accept. Yeah! No more price guessing games.

AAR offers a new Short Sale Advisory for Sellers
goto: http://kathleeninarizona.com/seller-advisory-f9783.html

Mortgage delinquencies update

2010-03-15T13:17:00.000-07:00

We are still seeing record high mortgage delinquencies. Unfortunately, new delinquencies are outpacing loss mitigation efforts. The loans are still not being modified quick enough to keep loans from going bad. The number of new delinquencies since January 1, 2009, still exceeds the trial loan modificaitons number by 25 percent.

The Mortgage Monitor report today from the Lender Processing Services revealed that the numbers are really staggering.

Loans delinquent/in foreclosure process: 7.5 million
REO/Post-sale foreclosure: 1 million
Loans that were current 1/1/09 and 60+ days delinquent 1/1/10: 2.5 million

I find this to be the most interesting fact:

More than 31 percent of loans that have been delinquent for six months are not yet in foreclosure, while 22.8 percent of loans delinquent for 12 months have not been moved to foreclosure status (up from 9.0 percent in 2008).

Vaction in Arizona - take advantage of low resort rates

2010-03-09T18:08:00.000-07:00

Want to enjoy some leisure time in the sun? Take advantage of low resort rates and freebies. The all-suite Pointe Hilton Resorts in Phoenix, AZ (popular with families), added breakfast for two to its $149 - $179 a night Triple Play package. It requires a 3 night minimum stay, 30 day advance purchase and payment in advance.

Live local? YOU deserve a long weekend to relax , life is too short!

read more: http://www.kathleeninarizona.com/archive_details.php?arch=802

I found a great weekend getaway to Tucson, AZ at the Westin for only $116/per night
http://www.hotwire.com/

HAFA program begins April 5th to help homeowners that don't succeed with HAMP

2010-02-18T19:15:00.001-07:00

Home Affordable Foreclosure Alternatives Program (HAFA) effective April 5th
On November 30, 2009, the Treasury Department released guidelines and forms for its new Home Affordable Foreclosure Alternatives Program (HAFA). HAFA is part of the Home Affordable Modification Program (HAMP). HAFA provides incentives in connection with a short sale or a deed-in-lieu of foreclosure (DIL) used to avoid foreclosure on a loan eligible for modification under the HAMP program. Servicers participating in HAMP are also required to comply with HAFA. A list of servicers participating in HAMP is available at MakingHomeAffordable.gov.

Read more:
http://kathleeninarizona.com/archive_details.php?arch=794

116,000 loan modifications successful so far, thousands more to go:
http://kathleeninarizona.com/archive_details.php?arch=793

Airzona Foreclosure Bills to help protect homeowners

2010-02-18T12:35:00.000-07:00

Arizona Foreclosure bills to protect homeowners
Arizona Democrats have introduced legislation to tackle the state's foreclosure crisis and to protect homeowners.
• HB 2715 would give homeowners facing foreclosure another 60 days to work out a loan modification.
• HB 2740 calls for allowing renters in homes that are in foreclosure to stay in the house and continue to pay affordable rents, and for homeowners who lose homes to foreclosure to remain as renters.
• HB 2766 requires a landlord to give a renter at least 30 days' notice if they have to move out of a foreclosure home.
• HB 2321 requires homes be maintained during foreclosure.
• HB 2739 creates a mandatory mediation program for those facing foreclosure that would be supervised by the Arizona Supreme Court.

Tenants renting a property in Foreclosure can stay

2010-02-03T16:39:00.000-07:00

Under federal law, a tenant is generally entitled to stay in the rented premises after a foreclosure sale until the term of the lease expires. The lender or third-party buyer at the foreclosure sale, however, has no obligation to refund the security deposit when lease expires.

Tenants ask an attorney:
http://kathleeninarizona.com/archive_details.php?arch=790

Professor says it is not immoral for underwater homeowners to walk away

2010-01-31T14:46:00.001-07:00

Arizona law professor Brent White says the only thing standing between many "underwater" homeowners and a better financial future is a misguided sense that walking away from a loan commitment is morally wrong.
White, an associate professor at University of Arizona's James E. Rogers College of Law, has spent the past few months presenting his argument to other lawyers, real-estate professionals and the national media.
It started with a 50-page discussion paper he published in October, in which White argues that underwater homeowners, those whose unpaid loan balance exceeds the value of their home, are being manipulated into picking up the tab for a real-estate crash that borrowers and lenders created equally.
"I'm all for a society where people must take personal responsibility, but that should also apply to the banks and financial institutions" he said.

Article in the Arizona Republic
http://kathleeninarizona.com/archive_details.php?arch=789

"Risky Loans" but not Fannie or Freddie have short sale guidelines yet

2010-01-30T14:15:00.000-07:00

HOME AFFORDABLE FORECLOSURE ALTERNATIVE PROGRAM - HAFA

The new HAFA program applies to the large volume of so-called "risky" loans that were issued outside of Fannie Mae and Freddie Mac guidelines during the housing boom, such as zero-down loans, option ARMs, and Alt-A mortgages that didn’t require extensive income documentation (see below, "Which Loans Are Eligible?"). As of this writing, Fannie and Freddie were developing their own, similar guidance for loans they’ve backed.

Read more:
http://kathleeninarizona.com/archive_details.php?arch=786

Which Loans Are Eligible?
The Home Affordable Foreclosure Alternative Program provides short sales guidelines for loans not owned or guaranteed by Fannie Mae or Freddie Mac (those agencies are expected to release their own, similar guidance). The following conditions also must be met:

The property is the borrower’s principal residence.
The mortgage loan is a first lien mortgage originated on or before Jan. 1, 2009.
The mortgage is delinquent or default is reasonably foreseeable.
The current unpaid principal balance is equal to or less than $729,750.
The borrower’s total monthly mortgage payment exceeds 31 percent of the borrower’s gross income.

Maricopa County Tax Lien Auction

2010-01-24T09:40:00.000-07:00

Tax-lien timeline
Year 1
January: A lien for taxes is attached to the property even though the amount of taxes due will not be determined until the following fall. The county assessor notifies each property owner of the property's assessed value.
August-September: The county Board of Supervisors approves the property-tax rate, and residents receive their annual property-tax bill.
October: The first half of the property-tax bill is due.
Year 2
April: The second half of the Year 1 property tax is due.
December: The county treasurer compiles a list of all parcels with delinquent property taxes for publication.
Year 3
January: The Treasurer's Office publishes the list in a newspaper and on the Internet.
February: An online auction is held to sell the tax liens to investors. Bidders compete for the best annual interest rate, bidding down from 16 percent in whole-digit increments (1 percent, 2 percent, etc.) Any liens not sold to investors are "struck" to the state but can be purchased later for 16 percent interest.
Year 6
February: A lien investor can seek a judgment for foreclosure of the tax-delinquent parcel in court if the investor still has not been repaid with interest.
Year 13
February: If no foreclosure action has been initiated 10 years after the date of purchase, the lien is extinguished.
Source: "Arizona Property Tax Lien Primer" by attorney Mark Manoil.

Read article to see how to invest:
http://kathleeninarizona.com/archive_details.php?arch=784

Arizona Housing Recovery pushed back to 2014

2010-01-22T09:25:00.000-07:00

Arizona has lost more than 210,000 jobs in the past 24 months, according to Elliott Pollack, a Scottsdale-based economist.
"It will be 2014 before we get back to 2007's employment level in the state," Pollack told the crowd at the Arizona Biltmore Resort.
He said that he expects metro Phoenix's housing market to start improving near the end of 2012 but that it won't be until 2014 when the area's supply of available houses and demand for those homes are back in balance.

Read entire article:
http://kathleeninarizona.com/archive_details.php?arch=783

Obama Admin. needs to do more to Prevent Foreclosure

2010-01-21T09:04:00.000-07:00

USNEWS By Luke Mullins , On Tuesday January 19, 2010

Nearly a year after the Obama administration unveiled its ambitious housing rescue program, foreclosure tallies continue to break records. Foreclosure filings were reported on more than 2.8 million properties in 2009, up 21 percent from the previous year and 120 percent from 2007, according to RealtyTrac. With nearly 10 percent of mortgages now delinquent--which is also a new record--even more homeowners appear headed for foreclosure this year. "A massive supply of delinquent loans continues to loom over the housing market," RealtyTrac CEO James J. Saccacio said in a statement. "Many of those delinquencies will end up in the foreclosure process in 2010 and beyond."

The number of so called "strategic defaults" more than doubled, to 588,000, from 2007 to 2008, according to a study by Experian and Oliver Wyman. A separate 2009 survey found that more than a quarter of all existing defaults were strategic. Meanwhile, a growing number of academics are touting the financial benefits of walking away. "Homeowners should be walking away in droves," Brent T. White, a University of Arizona law school professor, said in a recent paper. "The financial costs of foreclosure, while not insignificant, are minimal compared to the financial benefit of strategic default."

The case for strategically defaulting is linked to negative equity, or owing more on your home than it is worth. With home prices at the national level having dropped roughly 30 percent from their 2006 peaks--and a great deal more in certain bubble markets--a considerable chunk of property owners are now in this fix. Nearly 1 in 4 borrowers currently have negative equity, according to First American CoreLogic. And rather than continuing to make payments on an investment that's now worth significantly less than what they paid for it, many borrowers are throwing in the towel.

Read more:
http://kathleeninarizona.com/archive_details.php?arch=782

Mortgage News - FHA Making Changes

2010-01-20T16:20:00.000-07:00

The FHA will raise the up-front Mortgage Insurance Premium, paid by borrowers, from 1.75 percent to 2.25 percent as well as request legislative authority to increase the maximum annual MIP that the FHA can charge. This is the second time in two years that it has raised the premium.

In addition, in order for new borrowers to qualify for the 3.5 percent down payment program, they will now be required to have a minimum FICO score of 580. Borrowers with a lower score will be required to put down at least 10 percent.

The FHA will also reduce allowable seller concessions, or how much the seller can help the buyer, from 6 percent to 3 percent. The change will give borrowers a greater financial stake in their home purchases, as well as brings the FHA into conformity with industry standards on seller concessions.

Read entire article
http://kathleeninarizona.com/archive_details.php?arch=781

Scottsdale Golf Clubs lower memberships

2010-01-19T08:08:00.000-07:00

A lingering recession has caused some tough conditions for area golf courses throughout the valley financially, primarily due to the loss of golf members. Scottsdale country clubs have cut membership costs and opened their courses to non-resident players. Golfers are trading down luxury golf to more affordable courses.
Read more: http://kathleeninarizona.com/archive_details.php?arch=779

What Happens after Foreclosure?

2010-01-18T09:28:00.000-07:00

What Happens After Foreclosure?
January 11, 2010 by Ilyce R. Glink

Summary: What happens to your credit after foreclosure? Millions of Americans have already gone through foreclosure or are facing foreclosure proceedings. How do you recover from foreclosure Your credit score will definitely take a substantial hit, and that will take a long time to recover from. It may be several years before your credit recovers and you can get financing for a new mortgage. While you are waiting, take the time to rebuild your credit score after foreclosure.

Read entire article:
http://kathleeninarizona.com/archive_details.php?arch=774

Short Sale Fraud - Second lien holders asking to be paid off the HUD settlement statement

2010-01-16T20:32:00.000-07:00

In order for a short sale with two loans to happen, the second lien holder has to drop the lien.
If they don't, and there's no short sale, the home goes to foreclosure and the first lien holder gets the house because second liens are subordinated debt to the primary loan.
In short, the second lien holder gets nothing. In order to get the second lien holder to drop the lien, the first lien holder generally negotiates some partial payment to the second lien holder. The second lien holder doesn't have to agree, but more and more are doing so.
That's all legal.
But here's what's not legal and what's apparently happening quite often recently. Since many second lien holders are getting very little, they are now allegedly requesting money on the side from either real estate agents or the buyers in the short sale. When I say "on the side," I mean in cash, off the HUD settlement statements, so the first lien holder doesn't see it.
"They are pretty clear and pretty upfront about the fact that if the first lender knows they are getting paid, the first lender will kill the short sale," says Brandt. "So these second lenders are asking for the payments off the closing documents, off the HUD statement, usually in a cashiers check prior to closing. Once they receive that payment, they will allow the short sale to go through, which according to RESPA laws and the lawyers that we have spoken to on the topic is not legal."

Read the entire story by Diana Olick:
http://kathleeninarizona.com/archive_details.php?arch=771

Highest Foreclosure Rates by State

2010-01-16T20:24:00.000-07:00

Foreclosure Rates
Foreclosure filings, defined as a default notice, bank repossession or auction sale notice, were up almost 14 percent in December 2009 from the previous month, and showed an 15-percent increase from a year ago, according to Realty Trac's U.S. Foreclosure Market Report. In December 2009, one in every 366 households in the country had received a foreclosure filing.
1. Nevada
Rate: One in every 94 households
2. Arizona
Rate: One in every 132 households
3. Florida
Rate: One in every 158 households
4. Idaho
Rate: One in every 159 households
5. California
Rate: One in every 165
6. Utah
Rate: One in every 200 households
7. Michigan
Rate: One in every 225 households
8. Illinois
Rate: One in every 294 households
9. Georgia
Rate: 1 in every
10. Hawaii
Rate: 1 in every 330 households

Real Estate Housing Market Predictions for 2010

2009-12-01T11:37:00.000-07:00

All I want for Christmas is a crystal ball this year. When I hear reports that the housing market has hit bottom, or that the market is on its way up I start to feel a sense of hope just like everyone else. Unfortunately, there are so many other factors that I look at every time I hear this news. Such as:

Mortgage Delinquencies, The Shadow Market, Unemployment rates, Success rate of loan modifications, Number of Pending Foreclosures, Guidelines for Mortgage products, Mortgage Interest Rates, and the big one --HOW many people are willing to ride out this wave and not just walk away from their home(s) next year?

Here are my recent concerns:
-November reported the highest number of mortgage delinquencies in history.
-Pending Foreclosures are on the rise.
-Daily increases in Bank Owned inventory has started to hit the market.
-Reports of between 40% - 63.5% is the average negative equity in the Phoenix area.
-High unemployment rates and decreased pay for those that have jobs.
-Number of Individuals that can qualify for a mortgage

My wish this holiday season, is that everyone be blessed with much health and strength so we can work very hard together in preserving Homeownership.

Sometimes we just need a bit of humor

2009-12-01T10:46:00.001-07:00

"Our new house has one down payment and 240 darn payments".

Mortgage Delinquencies hit record high

2009-11-30T13:24:00.000-07:00

According to the Mortgage Bankers Association survey, November reached the highest level of mortgage delinquencies in history. Job losses seem to be contributing to the rise of mortgage payment delinquencies. Read more: http://kathleeninarizona.com/archive_details.php?arch=742. It is no surprise that 4.5% of US Homes are in foreclusre today.

Another factor to consider; approximately 15 million homeowners are underwater and want to just "walk away" and are doing it. Many are burdened by too much debt, changes in employment, and just don't qualify for a loan modification. The newest plan that just came out is a "Deed in lieu of lease". How does this new plan help preserve homeownership? Read more: http://kathleeninarizona.com/lease-f26628.html

Is it not our goal to help Americans PRESERVE HOMEOWNERSHIP?

New bill to be signed by President Obama to extend first-time homebuyer credit

2009-11-06T08:01:00.000-07:00

GOOD NEWS!!

A new bill is waiting for President Obama's signature to extend the first-time home buyer credit, increase the income limit to $125k for an individual and $225k combined for a married couple. The bill will also add a new credit of $6,500 for existing buyers that have lived in their current home for at least five years.

Read the entire article:
http://kathleeninarizona.com/archive_details.php?arch=737

Anthem Country Club Home JUST LISTED $220k

2009-10-23T14:32:00.000-07:00

ANTHEM COUNTRY CLUB $220k 2 brdm+Den, 2 Bath, Gently lived in, second home for owner in the ANTHEM COUNTRY CLUB beautifully decorated, furnishings available by separate bill of sale. Located on a private cul-de-sac, desert wash on north and east side of property. Enjoy views of Daisy Mountain from covered patio. Call 623-776-6217 to view this home. See more at http://2140wvalhallact.com/

Kathleen Mazzocco and Anthem, AZ featured on HGTV House Hunters tonight

2009-10-20T04:46:00.000-07:00

Anthem, AZ and Kathleen Mazzocco, Realtor are featured on HGTV House Hunters tonight.
Kim & John Bojonny relocate from Maryland to Phoenix, AZ. Check your local listings for time.

Read the article published in the Images Magazine about the making of the show:
http://www.kathleeninarizona.com/archive_details.php?arch=717

View show highlights.
http://www.kathleeninarizona.com/hgtv-c11568.html

Which home do you think the couple from Maryland will choose?

Which Cities in Phoenix, AZ are most affordable?

2009-10-18T07:27:00.000-07:00

Have you ever wondered which Cities in the Phoenix area are the least and most affordable?

The Cromford Report ranks cities in the Phoenix, AZ area by annual average price per square foot and also details the change in appreciation/depreciation for each city for the last year.

click this link to view report: http://kathleeninarizona.com/archive_details.php?arch=716

Scottsdale Luxury Lender Owned Home Coming on the Market Soon

2009-10-16T17:04:00.000-07:00

Preview this bank owned Scottsdale GEM! Luxury semi-custom home built by TW Lewis on 1.25 acres. Too many upgrades to list. Approx. 4,231 sq. ft., 5 bdrm, 3.5 bath, Separate Guest Casita in backyard, LAP POOL w/waterfall feature, 4 car garage w/surround sound! Entertain family and friends outdoors near pool on the raised patio with built-in BBQ, fireplace, and plenty of seating! Guest rooms share a den w/built-in media niche and full Jack-n-Jill bath.

Call Kathleen to preview this home today 623.776.6217. Best value in the Peakview Trails subdivision.

For more information and photos go to:
http://foreclosuresinscottsdaleaz.com/

High End Homes for Sale - 40 month supply!

2009-10-15T09:02:00.000-07:00

The National Association of Realtors announced that the high end market over $750,000 has a 40 month supply of homes for sale. It will take over 3 years at the current pace to sell all of these homes per Chief economist Lawrence Yun .

Jumbo loans are pricier and more difficult to get, job losses are mounting, and buyers in that price home are generally move-up buyers, so they have to sell their own homes first. Mr. Yun, expects to see more foreclosures of high-end properties.

Read Diane Olick's blog she is a CNBC Real Estate reporter

http://kathleeninarizona.com/archive_details.php?arch=715

Scottsdale DC Ranch Developer relinquishes Club

2009-10-15T08:40:00.000-07:00

Scottsdale, AZ DC Ranch only had 30 new members last year. Developer DMB Associates turned over ownership of the Country Club to its members after an 18 month transition.
Membership initiation fee has been reduced from $135,000 to $75,000.

READ this article:

http://kathleeninarizona.com/archive_details.php?arch=714

Tuition Tax Credits provide savings to local taxpayers but drain state money

2009-10-15T07:55:00.000-07:00

Arizona's private school tuition tax credits do save the state money by shifting students from public to private schools. Less students in the public school system saves money spent on building maintenance and operation costs. The Arizona Department of Education reports that the state spends $4,623 per student from the General Fund per year. The current shift of students going from private schools to public schools could have an effect on the current savings taxpayers are seeing right now.

Read this entire article posted in the Arizona Republic on October 14, 2009.

http://kathleeninarizona.com/archive_details.php?arch=713

Phoenix , AZ Another post-holiday foreclsoure surge predicted - due to income loss not because of home value loss

2009-10-11T21:06:00.000-07:00

As predicted, the next wave of foreclosures is due to economic conditions not subprime loan products or "bad loans". This time it will involve prime mortgages.

"It has nothing to do with the value of the home," said Mike Wasmann, president of the Arizona Association of Realtors. "It has to do with people not having any money".

Areas like Scottsdale, AZ which have been relatively stable the last two years may see an increase in foreclosures as the high-end homes will be included in the foreclosures in early 2010. The upper middle class and wealthy households whose primary source of wealth was real estate, are struggling financially now. Those who have had financial setbacks and lost their financial cushion will try to make it through the holidays before ceasing payment (as evidence seen in the record February surge in foreclosures).

Read this article published in the Arizona Republic for more details:
http://kathleeninarizona.com/archive_details.php?arch=710

Anthem, AZ Home Sales for September 2009

2009-10-01T17:49:00.000-07:00

WATCH ANTHEM, AZ ON HGTV HOUSE HUNTERS October 20, 2009

Anthem, AZ Home Sales
112 Homes & Condos SOLD in September 2009
45% of Sales were Bank Owned Homes compared to 73% in January '09
Inventory Continues to be low
208 Homes & Condos For Sale as of Oct. 1,2009

If you are thinking of Selling your home in Anthem, now is the time. Low Inventory, large number of Buyers. Many homes are having mulitple offers causing some bidding wars. Most of the bank owned properties are listed low to sell fast, but close for more than list price. Contact me for more details.

VIEW highlights of Anthem Arizona at http://www.anthemazcommunity.com/

Anthem Country Club
31 Homes Sold 41% were bank owned
$130.20/per sq. ft. avg. Homeowner Sales

Anthem Parkside East
51 Homes Sold 45% were bank owned
$ 96.43/per sq. ft. avg. Homeowner Sales

Anthem Parkside West
24 Homes Sold 58% were bank owned
$ 85.00/per sq. ft. avg. Homeowner Sales

The Landing in Anthem
1 Home Sold
$99.70/per sq. ft. avg. Short Sale only

The Paseo
3 Townhomes Sold

33% were bank owned
$ 80.06/per sq. ft. avg.

The Villages
2 Condos Sold
$ 68.71/per sq. ft. avg. Short Sales only

NO change to Anti-Deficiency Statue but taxes increase

2009-10-01T17:47:00.000-07:00

A WIN FOR AAR:
Governor signs bill that repeals change to anti-deficiency statute Governor Jan Brewer signed HB 2008, which repeals SB 1271 and its change to the anti-deficiency statute. AAR would like to thank our members for their quick response and action on this matter. AAR's success is due, in part, to members like you who help engage on issues down at the Capitol. AAR will continue to work with legislators and industry stakeholders to protect homeowner rights at the Capitol. Other budget news... The governor vetoed SB 1025, general revenue bill, which included the repeal of the state equalization tax credit. Maricopa County will begin printing property tax bills reflecting the increase come early next week. Governor Brewer also line item vetoed cuts in K-12 education, restoring funding. She stated in her press conference, however, that more cuts are likely or additional revenue will be needed. She believes the overall budget plan should avoid the need for state borrowing at least until early spring. There was no immediate call for an additional special session, but one is likely in the coming month.

Steps to getting a home loan modified with Bank of America

2009-09-30T21:04:00.000-07:00

Steps to getting a HOME LOAN MODIFIED with Bank of America
First Step -
Call the appropriate toll-free customer service number:
o For servicing issue on a Bank of America Mortgage (800.285.6000) or Home Equity account (800.621.1044), or a Countrywide Home Loan (800.669.6607)
o If customer is experiencing financial difficulties on a Bank of America Mortgage (800.846.2222) , HELOC (800.451.6362) or Home Equity Loan (866.709.1116), or on a Countrywide Home Loan (800.669.6607)
o Customer needs information on the Making Home Affordable program (800.593.7798) - Refinance program
2nd Step -
If you are unsuccessful in getting assistance using the toll free numbers, You can call the First Level Escalation team!
o Bank of America mortgage (800.846.2222 – escalate to supervisory level)Please note that this number is the same as the toll-free number listed in step one above for “customer experiencing financial difficulties on a Bank of America mortgage.” However, the customer should be coached on the escalation steps:
§ Dial toll-free number
§ Mention to the associate answering the telephone that this is a repeat telephone call about an issue that remains unresolved
§ Request to speak with the supervisor of the associate answering the telephone
§ Inform supervisor of current status of unresolved problem
o Home Equity account (877.776.5842, ext. 1512275)
o Countrywide Home Loan (800-669-6093)

Please share your story with other homeowners if you are successful in getting your loan modified!

Short Sale - Do you qualify?

2009-09-02T01:18:00.000-07:00

As a homeowner, do you qualify for a short sale? In order for a bank to accept a short sale, the borrower must have a demonstrable financial hardship. The reason for a short sale, can't be because a homeowner owes more than what the market value of their home is worth. A true financial hardship will have to be proven to the lender in order for a lesser amount than owned can be negotiated.

What is an acceptable hardship?

"A material change in the financial situation of a homeowner that is or will affect their ability to pay their mortgage"

Some examples of a financial hardship are:

*Loss of Job *Business Failure *Death of a Spouse or family members

*Severe Illness *Mandatory job relocation *Medical Bills

*Military Service *Mortgage payment increase *Reduced Income

*Too much debt *Incarceration *Divorce

It is estimated that most American Families can only maintain their current living expenses for 60 days or less when income is interrupted.

As a Certified Distressed Property Expert, I always recommend that a homeowner consult an attorney and discuss their 'entire financial picture' and be advised as to what is the best solution to their current financial hardship before moving forward with a short sale or just letting their property go into foreclosure. This is an hour well worth spending the time and money for.

Visit my website to view Upcoming Bank Owned Homes

2009-08-21T08:42:00.000-07:00

I have exciting news to share with all of my clients, friends, and family. I have joined the Desert Realty Group of Arizona at Platinum Premier Realty, LLC. Tammy Seymour has been an expert in short sales and listing bank owned properties for years. I feel fortunate to be part of her team. I have received my CDPE Designation - Certified Distressed Property Expert. My CDPE membership will alert me of any changes in guidelines to purchasing a bank owned or pre-foreclosure property. Also, keeping me up to date on terms that help to negotiate offers on behave of my clients to acquire these properties for the best possible terms.

Changes to my website will begin soon. You will be able to view homes that are bank owned on my website before they are listed. I would be happy to show you any of these homes.

I look forward to working with the best team in the business for bank owned and pre-foreclosure properties located in Anthem, Scottsdale, Cave Creek, Desert Hills, and throughout the Phoenix, AZ area.

Stay tuned for upcoming changes to my website!

Making Home Affordable program -details about loan modifications

2009-08-01T12:53:00.000-07:00

USA Today had a great article about the $75 billion Making Home Affordable program created to help up to 9 million homeowners in danger of losing their homes achieve lower monthly mortgage payments with their lenders and help 4 million people refinance loans guaranteed by Freddie Mac and Fannie Mae. The rise in foreclosures will continue due to homeowners loosing their jobs. Send an email to info@KathleenInAZ.com to receive the link to the entire article. Here are some highlights:

Key questions about the government's mortgage-assistance program:

Q: Who is eligible for the refinancing help?
A: The refinancing option is available only for certain loans owned or securitized by Fannie Mae and Freddie Mac. Homeowners should be able to contact their lender to see if they're eligible. Borrowers who are delinquent on their mortgage will not qualify.

Q: Who is eligible for a modification?
A: The property must be owner-occupied, and the owner must have sufficient income to support the new mortgage debt. The first mortgage may not exceed 105% of the current market value of the property. For example, if your property is worth $200,000, you must owe $210,000 or less.
The unpaid principal balance must be equal to or less than $729,750 for one-unit properties. The loan must have originated before Jan. 1, 2009. A borrower must have a payment (including taxes, insurance and homeowners association dues) that is more than 31% of the borrower's gross monthly income.In addition, the owner must have had a significant change in income or expenses, to the point they can't afford the current

2009-07-29T10:03:00.000-07:00

Watch for changes to the current Anti-deficiency Statues in Arizona
This will have an impact for homeowners that have not occupied their property in foreclosure for up to six consecutive months.

(view link below to read Senate Bill 1271, this is from section "G")
"utilized for either a single one-family or a single two-family dwelling BY THE TRUSTOR UNDER THE DEED OF TRUST FOR AT LEAST SIX CONSECUTIVE MONTHS AND FOR WHICH A CERTIFICATE OF OCCUPANCY HAS BEEN ISSUED is sold pursuant to the trustee's power of sale, no action may be maintained to
recover any difference between the amount obtained by sale and the amount of the indebtedness and any interest, costs and expenses. THE TRUSTOR IS RESPONSIBLE FOR DEMONSTRATING THAT THE TRUST PROPERTY WAS USED BY THE TRUSTOR AS A ONE-FAMILY OR A SINGLE TWO-FAMILY DWELLING FOR AT LEAST SIX CONSECUTIVE MONTHS".

This is a great article to read which explains the current statutes.

Update on Court Decisions and the Anti-Deficiency Statutes
Posted on 01 February 2009
Tags: anti-deficiency, Combs Law Group, Court Decisions, Legal, statutes
By Christopher A. Combs and Adam D. Martinez

Introduction
Arizona and a small minority of other states have adopted anti-deficiency statutes to prohibit a
homeowner's personal liability after losing a home to foreclosure. In the past two years in Arizona there has been both a rapid increase in homeowners who are delinquent on their home loans and a rapid decline in home values. Therefore, the scope of the protection of the anti-deficiency statutes is now of heightened interest to both homeowners and lenders.
Frequent questions are: Can the lender waive the right to foreclose on a home and bring a collection action on the promissory note? Do investors and developers have the protection of the anti-deficiency statutes after foreclosure on a home? Do the anti-deficiency statutes apply to the refinancing by the homeowner of the original purchase money loan, even if a portion of the loan refinancing exceeds the original purchase money loan? This article will attempt to answer those questions.

To Read the rest of this article goto: (you may need to copy and paste this link to your internet browser)
http://aarnews.com/2009/02/update-on-court-decisions-and-the-anti-deficiency-statutes/

The business section of the Arizona Republic published this article on July 29th:
http://www.azcentral.com/arizonarepublic/business/articles/2009/07/29/20090729biz-catherine0729.html

This link is to SENATE BILL 1271 http://www.azleg.gov/legtext/49leg/1r/bills/sb1271s.pdf

Anthem Arizona Home Sales in June 2009

2009-07-02T14:36:00.000-07:00

Tune in to HGTV House Hunters on July 23rd to see Anthem Arizona featured as a couple relocates from Maryland to Arizona. Check your local listings for time.

AS OF JULY 1st ANTHEM Arizona has 207 Homes for Sale

based on MLS info on July 1, 2009

106 are Available as Short Sales

101 are Available by Owner or Lender

Look for an increase in Lender Owned Properties soon....many pending foreclosures are due to go to Trustee Sales the next few months.

Homes sold in Anthem, AZ in June 2009

Anthem Country Club - 26 Homes Sold at an avg. of $313,665

an avg. of 2812/sq. ft.

9 Lender Owned Sales 8 Short Sales 9 Owner Sales

Anthem Parkside East - 45 Homes Sold an avg. of $192,526

an avg. of 2,376/sq. ft

25 Lender Owned Sales 9 Short Sales 11 Owner Sales

Anthem Parkside West - 16 Homes Sold at an avg. of $170,182

an avg. of 2,437/sq. ft.

7 Lender Owned Sales 5 Short Sales 4 Owner Sales

The Landing in Anthem - 2 Homes Sold at an avg. of $202,750 an avg. of 2,185/sq. ft.

1 Lender Owned Sale 1 Short Sale

Paseo Townhomes - 1 Owner Sale for an avg. of $130,000 an avg. of 1,529/sq. ft.

The Villages in Anthem no sales in June

For more information regarding home sales in other areas of Phoenix, Arizona

contact Kathleen Mazzocco at info@KathleenInAz.com

or call 623-776-6217

View Obama's Blueprint to Overhaul Financial Regulation

2009-06-18T11:51:00.000-07:00

Read the The Washing Post article "Obama Blueprint Deepens Federal Role in Markets" it includes a link to view his draft of the Regulatory Overhaul for financial regulation and increasing goverment involvement in private markets aimed at protecting home buyers.

A proposed new consumer protection agency and powers to overhaul the mortgage lending practices will ensure that consumers can afford their mortgages.

A draft of Obama's blueprint of regulatory changes can be viewed here:

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/16/AR2009061601887.html

Loan modification article in Wall Street Journal

2009-06-18T10:22:00.000-07:00

LOAN MODIFICATION Process is slow - The Wall Street Journal article June 17, 2009

I think all of us can say we know at least one person who is trying to accomplish a loan modification with their lender. About 4 million people were late in paying their mortgage payments in the first quarter of 2009. As of the end of April only 518,155 home loans have been modified.

The process is slowed by the amount of paperwork involved and low numbers in staffing. It is not an easy process, but if it can help keep homeowners from loosing their homes it is well worth it in the end. Here is the link to the article in the Wall Street Journal that shares some stories of homeowners in the process or have had a loan modified.

http://online.wsj.com/article/SB124508720715715781.htm

Anthem Arizona Home Sales for May 2009

2009-06-12T12:07:00.000-07:00

SEE ANTHEM, AZ ON HGTV HOUSE HUNTERS
JULY 23, 2009 check local listings for time

HOMES AVAILABLE FOR

SALE CONTINUES TO BE LOW

Anthem Arizona has approximately 236 homes for sale

as of 6/1/09
based on data from the MLS 6/1/2009

104 Homes and Condos sold in Anthem in May 2009

ANTHEM COUNTRY CLUB
22 Homes Sold
Avg. Sale $305,855 Avg. Size 2,862 sq. ft. 123 Avg. days to Sell

13 Lender Sales avg. $ 97.89/sq. ft.
3 Short Sales avg. $125.83/sq. ft.
6 Owner/Investor Sales avg. $119.16/sq. ft.

Anthem Parkside East
66 Homes Sold
Avg. Sale $181,482 Avg. Size 2,275 sq. ft. 98 Avg. days to Sell

43 Lender Sales avg. $77.85/sq. ft.
17 Short Sales avg. $83.00/sq. ft.
6 Owner/Investor Sales avg. $98.31/sq. ft.

Anthem Parkside West
9 Homes Sold
Avg. Sale $195,889 Avg. Size 2,884 sq. ft. 90 Avg. days to Sell

7 Lender Sales avg. $ 66.15/sq. ft.
2 Short Sales avg. $ 76.74/sq. ft.
0 Owner/Investor Sales

Paseo Townhomes
2 Sold
Avg. Sale $111,812 Avg. Size 1,499 sq. ft. 50 Avg. days to Sell

2 Lender Sale avg. $74.81/sq. ft.

The Villages Condos
5 Sold
Avg. Sale $94,880 Avg. Size 1,297 sq. ft. 128 Avg. days to Sell

4 Lender Sales avg. $74.00/sq. ft.
0 Short Sales avg. $00.00/sq. ft.
1 Owner/Investor Sales avg. $70.60/sq. ft.

Anthem Arizona Home Sales for April 2009

2009-05-04T09:03:00.000-07:00

Home Sales have Increased and HOME INVENTORY HAS DECLINED
Anthem Arizona has approximately 221 homes for sale as of today
based on data from the MLS 5/4/09

99 Homes and Condos Sold

ANTHEM COUNTRY CLUB 91 Homes for Sale
24 Homes Sold
Avg. Sale $300,849 Avg. Size 2,814 sq. ft. 97 Avg. days to Sell

16 Lender Sales avg. $100.16/sq. ft.
2 Short Sales avg. $103.09/sq. ft.
6 Owner/Investor Sales avg. $121.17/sq. ft.

Anthem Parkside East 89 Homes for Sale
48 Homes Sold
Avg. Sale $179,208 Avg. Size 2,217 sq. ft. 97 Avg. days to Sell

32 Lender Sales avg. $81.20/sq. ft.
9 Short Sales avg. $78.79/sq. ft.
7 Owner/Investor Sales avg. $92.93/sq. ft.

Anthem Parkside West 41 Homes for Sale
16 Homes Sold
Avg. Sale $188,912 Avg. Size 2,516 sq. ft. 158 Avg. days to Sell

9 Lender Sales avg. $ 74.64/sq. ft.
6 Short Sales avg. $ 76.53/sq. ft.
1 Owner/Investor Sales avg. $ 97.07sq. ft.

Paseo Townhomes 6 For Sale
2 Sold
Avg. Sale $124,500 Avg. Size 1,499 sq. ft. 38 Avg. days to Sell

2 Lender Sale avg. $83.02/sq. ft.

The Villages Condos 5 For Sale
6 Sold
Avg. Sale $92,600 Avg. Size 1,264 sq. ft. 103 Avg. days to Sell

3 Lender Sales avg. $71.57/sq. ft.
1 Short Sales avg. $67.92/sq. ft.
2 Owner/Investor Sales avg. $78.50/sq. ft.

******************************************************************************************************************************************************

Financing Options have never been better Interest Rates are still low - *Ask me about
*VA Financing - 100%

*FHA Financing - 3.5% down payment
*Ask about Seller Contributions for closing costs

Anthem Arizona Home Sales Stats for March 2009

2009-04-03T17:34:00.000-07:00

ANTHEM ARIZONA AS SEEN ON HGTV

Watch Anthem, AZ on

HGTV House Hunters

on April 13th

INTEREST RATES ARE LOW & HOMES ARE SELLING FAST!

Homes Sales in March 2009

97 Homes and Condos sold in Anthem in March 2009

64 Lender Sales vs 33 Owner/Short Sales
based on data from the MLS 4/2/09

ANTHEM COUNTRY CLUB

29 Homes Sold

Avg. Sale $333,012
Avg. Size 2,958 sq. ft.
108 Avg. days to Sell

15 Lender Sales avg. $100.15/sq. ft.

6 Short Sales avg. $111.61/sq. ft.

8 Owner/Investor Sales avg. $139.92/sq. ft.

Anthem Parkside East

45 Homes Sold

Avg. Sale $195,533
Size 2,486 sq. ft.
113 Avg. days to Sell

29 Lender Sales avg. $77.60/sq. ft.

10 Short Sales avg. $78.20/sq. ft.

6 Owner/Investor Sales avg. $92.37/sq. ft.

Anthem Parkside West

14 Homes Sold

Avg. Sale $175,616
Avg. Size 2,229 sq. ft.
52 Avg. days to Sell

12 Lender Sales avg. $77.05/sq. ft.

2 Short Sales avg. $100.74/sq. ft.

Paseo Townhomes

2 Sold

Avg. Sale $143,500
Avg. Size 1,772 sq. ft.
171 Avg. days to Sell

1 Lender Sale avg. $80.98/sq. ft.

1 Short Sale avg. $90.91/sq. ft.

The Villages Condos

7 Sold

Avg. Sale $93,171
Avg. Size 1,327 sq. ft.
39 Avg. days to Sell

7 Lender Sales avg. $70.55/sq. ft.

Welcome to Anthem! Meridian Restaurant

serving delicious Italian Cuisine. Entertainment coming soon.

Loan modifications are starting to happen in Anthem. Let's all work together in sharing our success stories with our friends, family, and neighbors. We will start to see the lender owned properties go away quickly if we can keep homeowners in their homes. The government has to act quicker in getting their instructions to the lending institutes and sharing the guidelines approved to help stop the foreclosures. I am feeling hopeful we will see a change in the next few months. Let's help our neighbors stay home in Anthem!

Anthem Arizona PARKSIDE Homes Sales for February 2009

2009-03-03T02:24:00.000-07:00

Mortgage rates are at an all time low and so are home prices. A winning combination for today's buyer.

The average sales price for a home in Anthem, AZ is $206,041
The average size home is 2,494/sq.ft

Anthem Arizona PARKSIDE EAST - 27 Homes Sold in February 2009
Avg. Sale $206,041 $83.91/per. sq. ft. 117/avg. days on market

(21) Lender Owned Sales
Avg. Sale $190,986 $84.29/per. sq. ft. 104/avg. days on market

(4) Short Sales
Avg. Sale $276,100 $89.67/per sq. ft. 184/avg. days on market

(2) Owner Owned Sales
Avg. Sale $224,000 $68.39/per sq. ft. 124/avg. days on market

Anthem Arizona PARKSIDE WEST - 11 Homes Sold in February 2009

Avg. Sale $224,726 $73.75/per sq. ft. 58/avg. days on market

(10) Lender Owned Sales
Avg. Sale $224,999 $73.96/per sq. ft. 49/avg. days on market

(1) Short Sale
Avg. Sale $222,000 $71.66/per sq. ft. 147/avg. days on market

Anthem Arizona PASEO 2 Townhouses Sold in February 2009

(2) Lender Owned Sales

Avg. Sale $126,950 $86.42/per sq. ft. 87/avg. days on market

Anthem Arizona THE VILLAGES 5 Condos Sold in February 2009

(5) Lender Owned Sales

Avg. Sale $97,000 $73.01/per sq. ft. 100/avg. days on market

Anthem Arizona THE LANDING Home Sales for February 2009

2009-03-03T02:10:00.000-07:00

This popular gated community sells fast!

The Landing in Anthem 2 Homes Sold in February 2009

Avg. Sale $258,750 $127.45/per sq. ft. 22/avg. days on market

(1) Lender Owned Sale
Avg. Sale $257,500 $112.20/per sq. ft. 6/avg. days on market

(1) Owner Owned Sale
Avg. Sale $260,000 $142.70/per sq. ft. 38/avg. days on market

Anthem Arizona THE ANTHEM COUNTRY CLUB Home Sales for February 2009

2009-03-03T01:49:00.000-07:00

Now is the time to own a home in the golf course community - the Anthem Country Club.
Mortgage rates are at an all time low.

The average sales price is $299,475.
The average size home is 2,568/sq.ft for an average

Anthem Country Club - 16 Homes Sold in February 2009
Avg. Sale $299,475 $113.71/per sq. ft. 161/avg. days on market

(7) Lender Owned Sales
Avg. Sale $284,214 $107.25/per sq. ft. 125/avg. days on market

(5) Owner Owned Sales
Avg. Sale $324,000 $124.03/per sq. ft. 95/avg. days on market

(4) Short Sales
Avg. Sale $295,525 $112.11/per sq. ft. 309/avg. days on market

2009-01-15T14:59:00.000-07:00

January 2009 Anthem Home Sales

36 homes were lender owned, 8 homes were short sales, and 5 were investor/owner

Anthem Parkside 31 homes sold at an average of $88.25/sq. ft.

Anthem Country Club 17 homes sold at an average of $113.04/sq. ft

The Landing in Anthem only 1 home sold for an average of $87.58/sq. ft. (lender owned)

The lender owned homes averaged $90.65/sq. ft averaged 74 days to sell.

The short sales averaged $113.34/sq. ft averaged 173 days to sell

The investor/owner sales averaged $114.97/sq. ft averaged 140 days to sell.