Real Estate Housing Market Predictions for 2010

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

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

Mortgage Delinquencies hit record high

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

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

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

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?

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

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!

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

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