The Phoenix Real Estate Advisor

Yes that’s snow in Arizona

Jay Otlewski — Thu, 11 Mar 2010 00:51:30 +0000

And yes I am now offically a wimp in cold weather. Who in their right mind would live where it’s this cold. Down to 41 in Presott

Posted via email from Active Adult Living

Interest Rates and Credit Card Myths.

Jay Otlewski — Sat, 06 Mar 2010 18:40:58 +0000

Credit Card Myths. Myth #7 this week.

Myth No. 7: High credit card limits are bad for your credit scores.

You certainly shouldn’t ask a credit card company to lower your credit limits or shut down cards, since either action could hurt your credit scores, unless a lender specifically requires you to do so as a condition of getting a loan. Even then, you should try to keep your oldest and highest-limit cards open.

Mortgage Interest Rates for Fixed Rate Mortgages*

Rates as of Friday, 5th March, 2010:

	Term	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
FHA - 30 yr Fixed	360	5.11%	5.257%	$5.44	5.125%	5.213%	$5.44
FHA - 15 yr Fixed.	180	4.50%	4.748%	$7.65	%	0.000%	$0.00
Conv. - 30-Yr Fixed	360	4.90%	5.045%	$5.31	6.43%	6.525%	$6.27
Conv. - 15-Yr Fixed	180	4.30%	4.547%	$7.55	%	0.000%	$0.00
5/1 - Adjustable Rate	360	4.12%	4.258%	$4.84	%	0.000%	$0.00
USDA - Fixed 30 yr.	360	5.00%	5.146%	$5.37	%	0.000%	$0.00

*Rates are subject to change due to market fluctuations and borrower’s eligibility.

3/5/2010 Interest rates are steady for the time being. Look for a rise in mortgage rates in April, 2010. The Treasury will discontinue purchasing MBS at the end of March.

Jim Carney
American Mortgage Specialists
Phone: (623) 544-3370 or JimCarney@amsaz.com

Posted via email from Active Adult Living

How quickly Trilogy builds a home

Jay Otlewski — Thu, 04 Mar 2010 16:06:58 +0000

Remember that pile of wood I posted recently of a home in Trilogy? Well just a week and 1/2 it's a framed home.

To get your own visit www.RetiringToAz.com

Posted via email from Active Adult Photo Blog

Short Sales 101

Jay Otlewski — Wed, 03 Mar 2010 19:48:44 +0000

What is a short sale?

A short sale is explored as an option when a homeowner has to sell their home due to a hardship, but they owe more on their mortgage than they can sell it for because of market conditions.

What constitutes a hardship?

The guidelines for a hardship the banks have established include circumstances such as marital (divorce), relocation (forced due to job loss or to keep a job) financial (due to job loss or reduction in income, death, illness) and military service members (deployed causing reduction of income from a civilian job – i.e. National Guard)

How do the banks verify a hardship?

There are several documents the bank will require from a seller before they will approve a short sale including a comprehensive financial statement. For a comprehensive list, email Lynn.

It all sounds complicated. I am nervous to have to deal with the bank myself.

That is why it is important to hire an experienced, caring agent to help you. Lynn will take the burden off your shoulders and put it onto hers.

Who pays Lynn’s commission and other fees of selling a home? I don’t have the money to do so.

Once we negotiate a short sale with the bank, they will pay all the fees including the commission. There will be no cost to you in most cases.

How do we get the bank to approve my short sale?

Lynn is a CDPE (Certified Distressed Property Expert) which means that she has undergone extensive training and weekly ongoing training to know the rules, learn how to negotiate with the loss mitigation departments of your bank and is up to date with all the latest requirements to execute a successful short sale.

Do I have to be behind on my payments to qualify for a short sale?

Absolutely not! Lynn will never advise her client to stop making their payments if it is at all possible to continue to make them for a short time.

Wouldn’t it be easier to just let my home go into foreclosure?

It is easier, but it is the worst thing you can do for your future. Foreclosure is much harder on your credit score than a short sale. It will follow you for a minimum of 7 years. It could affect your ability to be hired, to secure car & renters insurance, to buy a car, to rent a house or apartment and more.

Are there any other options besides a short sale to address my hardship?

Yes there are. It is important for you to know those options and explore every one of the first. Lynn’s job is first to help you try to find a way to stay in your home. There are programs and options that you may qualify for. Lynn can help you explore those options and help you navigate through the process.

Can Lynn contact me with more information?

Yes. Lynn has several free reports that she can send to you to help explain your options – simply email her or call her on her direct line: 623-238-3875 and she will send those reports to you. Please include your name in your email.

I don’t have a hardship, and do not have a need to sell my home, but someone close to me does. Can Lynn contact them?

Lynn would be happy to talk to this person. Please give them Lynn’s phone number and email address and ask them to give her a call.

For more information, visit www.phoenixhomerescue.org today.

Posted via web from Phoenix Home Rescue

Sun City Festival 5th Anniversary Celebration

Jay Otlewski — Tue, 02 Mar 2010 05:24:09 +0000

Del Webb’s 50^th Anniversary Celebration
Sun City Hawaiian Luau
Saturday, March 13, 2010 - 11 a.m. to 3 p.m.

Have you thought about buying a home in Sun City Festival in Buckeye, Arizona? If so you should plan a visit to Sun City Festival in the West Valley of Phoenix on Saturday, March 13th, from 11 a.m. to 3 p.m. for a spectacular Hawaiian luau to celebrate Del Webb’s 50th Anniversary! What a great way to learn about all Sun City Festival has to offer!

Come relax around the resort-style pool or tour the facilities, including our beautiful model homes, and enjoy a variety of events and activities throughout the day, including:

Free Hawaiian barbeque
Live island music
Beautiful hula dancers
Arts and crafts

Model homes from the $130s
Register to win prizes
And more!

For more information about the event, please contact Shelley Silva at Del Webb by calling 928-252-6526 or email her at shelley.silva@delwebb.com to setup your visit. Remember you can always setup a 3-4 night stay in one of their vacation villas and really experience all Sun City Festival has to offer!

We hope to see you there!

Aloha!

Posted via email from Active Adult Living

New Affordable home prices at Sun City Festival in Arizona

Jay Otlewski — Mon, 01 Mar 2010 05:17:46 +0000

FESTIVAL IS THE BEST VALUE !

Holiday Series (1,100 s.f) $141,990 - $5,000 = $136,990

Cottage Series (1,373 s.f) $ 168,990 - $5,000 = $163,990

Classic Series (1,612 s.f) $ 203,990 - $6,500 = $197,490

Premier Series (2,095 s.f) $ 234,990 - $8,000 = $226,990

Estate Series (2528 s.f) $ 277,990 - $10,000 = $267,990

New Build Incentives

Additional $4,500 to $5,500 off for CASH buyers.

First 15 (New Build) Buyers in March receive a FREE 2.0 kw Solar Option !!!

Inventory Home Incentives

First 15 Cash Buyers in March receive a FREE golf cart.

Additional $5,000 off the price for using Pulte Mortgage.

Vacation Villa’s - $89 per night through April.

Want to spoil yourself a little bit? Come “try on” this great community before you buy and find out why so many people have

chosen to buy their next home at Sun City Festival!

Shelley Silva & Norma Bonnell

Sun City Festival by Del Webb

(w) 928-252-6526 or 928-252-6513

(c) 253-691-5498 or 480-216-9298

Posted via email from Active Adult Living

Credit Card Myths. Myth #5 this week.

Jay Otlewski — Sat, 27 Feb 2010 14:25:41 +0000

Credit Card Myths. Myth #5 this week.

The myths and the reality
Myth No. 5: If you pay your credit cards in full and on time, you don’t need to worry about your cards’ effect on your scores.

Paying your balances in full is good for your wallet, and paying on time is good for your credit scores. But you can still mess up your credit even if you’re diligent in doing both.

How? By using up too much of your credit limit. Your credit scores are incredibly sensitive to how much of your available credit you use, especially on your credit cards.

And the balance used for these calculations is typically the balance that shows on your most recent credit statement. So if you’ve charged $9,000 on a card with a $10,000 limit, your scores will reflect the fact that you’re using 90 percent of your available credit, even if you pay off the balance the day you get the bill. Such a misstep can knock dozens of points off your scores.

Mortgage Interest Rates for Fixed Rate Mortgages*

Rates as of Friday, 26th February, 2010:

	Term	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
FHA - 30 yr Fixed	360	5.00%	5.146%	$5.37	5.125%	5.213%	$5.44
FHA - 15 yr Fixed.	180	4.50%	4.748%	$7.65	%	0.000%	$0.00
Conv. - 30-Yr Fixed	360	5.19%	5.337%	$5.48	6.45%	6.546%	$6.29
Conv. - 15-Yr Fixed	180	4.25%	4.496%	$7.52	%	0.000%	$0.00
5/1 - Adjustable Rate	360	4.20%	4.339%	$4.89	%	0.000%	$0.00
USDA - Fixed 30 yr.	360	5.00%	5.146%	$5.37	%	0.000%	$0.00

*Rates are subject to change due to market fluctuations and borrower’s eligibility.

2-19-2010 - Interest rates are UP about .25% FHA changes in the works. The ‘upfront MIP’ will be INCREASED from 1.75% of the loan to 2.25% on the loan. This fee is added to the loan amount so the borrower does NOT have to come up with cash. The "Sellers Contribution will be REDUCED from 6% to 3%. There is talk about RAISING the ‘down payment’ from 3.5% to 5.00%. These changes are thought to be done around April 5th, 2010.

Jim Carney
American Mortgage Specialists
Phone: (623) 544-3370
JimCarney@amsaz.com

Posted via email from Active Adult Living

How easy it is to build a new home at Trilogy at Vistancia

Jay Otlewski — Fri, 26 Feb 2010 19:18:09 +0000

Here’s the beginnings of a new home for one of my clients at Trilogy in Peoria. It’s a amazing how quickly they can frame a home these days. For more information about about Tgrilogy at Vistancia visit www.RetiringToAz.com

Posted via email from Active Adult Photo Blog

Sun city festival and del webb party

Jay Otlewski — Sat, 20 Feb 2010 17:06:06 +0000

It’s del webbs big 50th anniversary party and it’s raining hard. With rain only a few days a year it all comes down to timing. Hope it clears up for them and 2000 plus people they expect. More info? Visit www.retiringtoaz.com

Posted via email from Active Adult Photo Blog

Interest Rates and Credit Cards Myths

Jay Otlewski — Sat, 20 Feb 2010 15:06:44 +0000

The myths and the reality

Myth No. 4: You can deter identity theft by writing "Ask for ID" instead of your signature on the back.

You’ll certainly deter use of your card, because merchants aren’t supposed to accept one that’s not signed on the back, and that could affect you as much as any thief.

Mortgage Interest Rates for Fixed Rate Mortgages*

Rates as of Friday, 19th February, 2010:

	Term	Conforming	APR	Payment per $1,000	Jumbo	APR	Payment per $1,000
FHA - 30 yr Fixed	360	5.23%	5.378%	$5.51	5.25%	5.339%	$5.52
FHA - 15 yr Fixed.	180	4.50%	4.748%	$7.65	%	0.000%	$0.00
Conv. - 30-Yr Fixed	360	5.01%	5.156%	$5.37	6.25%	6.344%	$6.16
Conv. - 15-Yr Fixed	180	4.33%	4.577%	$7.56	%	0.000%	$0.00
5/1 - Adjustable Rate	360	4.29%	4.430%	$4.94	%	0.000%	$0.00
USDA - Fixed 30 yr.	360	5.25%	5.398%	$5.52	%	0.000%	$0.00

*Rates are subject to change due to market fluctuations and borrower’s eligibility.

Jim Carney-Loan Officer
American Mortgage Specialists
Phone: (623) 544-3370
JimCarney@amsaz.com

Posted via email from Active Adult Living