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Jeff Cameron and The Cameron Team
Wednesday, November 11, 2009
Friday, June 5, 2009
New Blog in the works
You can take a look at me new blog by clicking this link:
http://www.arizonabankdeals.com/blog/
Let me know your thoughts!
Jeff Cameron
http://www.arizonabankdeals.com/blog/
Let me know your thoughts!
Jeff Cameron
Thursday, June 4, 2009
Jeff Is Getting Ready For Another Trip To ALASKA!!
Jeff is getting ready for another fishing trip to Alaska! Last time he went he caught a 110 pound Halibut that was about 5 feet tall! Hopefully he will get a bigger one this year!
Wednesday, May 27, 2009
RETURN OF AMERIDREAM
I just got the following email about AmeriDream and there persuit of Down Payment Assistance. This program was eliminated through political powers due to a desire to shift blame from those perpetrating fraud, to those who where defrauded. It is shocking to see how the the press and political groups can sway the public from the truth. Let's stop pointing fingers and fix the problem.
AmeriDream is good for America!
Just my opinion...Jeff Cameron
Here is the email:
FOR IMMEDIATE RELEASE:
Tuesday, May 26, 2009 CONTACT: Henry Fawell
(410) 545-5830
AmeriDream: U.S. housing market needs downpayment assistance
GAITHERSBURG , MD – With home prices falling nearly 20% in the 1st quarter of 2009, Ann Ashburn, President of AmeriDream, today outlined four reasons why the U.S. economy and the next generation of homeowners would benefit from downpayment assistance funded in part by sellers (DPA). Congress is currently considering H.R. 600, bipartisan legislation that would make DPA an allowable gift source for creditworthy borrowers of Federal Housing Administration loans.
“AmeriDream continues to provide full support to H.R. 600, which will stabilize home values, protect taxpayers, encourage responsible homeownership, and create jobs,” said Ashburn. “These are four compelling reasons to make DPA an important part of our national economic recovery strategy. AmeriDream will continue with the critical outreach and education efforts necessary to make a responsible DPA program available to qualified homebuyers.”
Stabilize home values: DPA can help stop the downward spiral in home values across the country by encouraging qualified homebuyers with FHA loans to enter the housing market. An estimated 300,000 homebuyers are eliminated from the housing market every year without DPA programs in place.
Protect taxpayers: H.R. 600 allows private partnerships between sellers and non-profits to provide downpayment gifts to qualified homebuyers at no cost to the taxpayer. That makes H.R. 600 a fiscally responsible alternative to government-subsidized downpayment assistance programs being considered by the U.S. Department of Housing & Urban Development.
Encourage responsible homeownership: H.R. 600 will enable 300,000 additional families and individuals – all qualified and approved for FHA loans – to become homeowners each year. The bill also requires that DPA recipients be offered homebuyer education courses to help them understand the financial responsibilities of homeownership. Lastly, H.R. 600 implements tougher credit requirements for DPA recipients, strict FHA underwriting guidelines, and stiff penalties for improper home appraisals.
Create jobs: DPA will create 235,000 jobs, generate over $4 billion annually in local and state revenues, and provide $2 billion annually in private capital for sustainable homeownership. DPA’s absence prompts fewer home sales, lower home values, more foreclosures, job losses, and lower revenues for cash-strapped local governments. H.R. 600 is a vital mechanism to stabilizing the U.S. housing market.
H.R. 600 is sponsored by Reps. Al Green, Maxine Waters, and Gary Miller. The program would use no tax dollars. A broad coalition of organizations H.R. 600, including the National Association of Homebuilders, the U.S. Conference of Mayors, the Congressional Black Caucus, the Congressional Hispanic Caucus, and the Labor Council for Latin American Advancement. Learn more about H.R. 600 at www.ameridream.org.
BACKGROUND: AmeriDream, a 501(c)(3) charity, was established in 1999 to provide housing-related programs to low and moderate income individuals and families. AmeriDream provides a wide range of programs, including homebuyer education, loss mitigation counseling, community development, and privately-funded down payment assistance. These programs are provided at no cost to the taxpayer. AmeriDream not only seeks to help families purchase homes, but also provide them with the education and other resources needed to be responsible homeowners.
AmeriDream is good for America!
Just my opinion...Jeff Cameron
Here is the email:
FOR IMMEDIATE RELEASE:
Tuesday, May 26, 2009 CONTACT: Henry Fawell
(410) 545-5830
AmeriDream: U.S. housing market needs downpayment assistance
GAITHERSBURG , MD – With home prices falling nearly 20% in the 1st quarter of 2009, Ann Ashburn, President of AmeriDream, today outlined four reasons why the U.S. economy and the next generation of homeowners would benefit from downpayment assistance funded in part by sellers (DPA). Congress is currently considering H.R. 600, bipartisan legislation that would make DPA an allowable gift source for creditworthy borrowers of Federal Housing Administration loans.
“AmeriDream continues to provide full support to H.R. 600, which will stabilize home values, protect taxpayers, encourage responsible homeownership, and create jobs,” said Ashburn. “These are four compelling reasons to make DPA an important part of our national economic recovery strategy. AmeriDream will continue with the critical outreach and education efforts necessary to make a responsible DPA program available to qualified homebuyers.”
Stabilize home values: DPA can help stop the downward spiral in home values across the country by encouraging qualified homebuyers with FHA loans to enter the housing market. An estimated 300,000 homebuyers are eliminated from the housing market every year without DPA programs in place.
Protect taxpayers: H.R. 600 allows private partnerships between sellers and non-profits to provide downpayment gifts to qualified homebuyers at no cost to the taxpayer. That makes H.R. 600 a fiscally responsible alternative to government-subsidized downpayment assistance programs being considered by the U.S. Department of Housing & Urban Development.
Encourage responsible homeownership: H.R. 600 will enable 300,000 additional families and individuals – all qualified and approved for FHA loans – to become homeowners each year. The bill also requires that DPA recipients be offered homebuyer education courses to help them understand the financial responsibilities of homeownership. Lastly, H.R. 600 implements tougher credit requirements for DPA recipients, strict FHA underwriting guidelines, and stiff penalties for improper home appraisals.
Create jobs: DPA will create 235,000 jobs, generate over $4 billion annually in local and state revenues, and provide $2 billion annually in private capital for sustainable homeownership. DPA’s absence prompts fewer home sales, lower home values, more foreclosures, job losses, and lower revenues for cash-strapped local governments. H.R. 600 is a vital mechanism to stabilizing the U.S. housing market.
H.R. 600 is sponsored by Reps. Al Green, Maxine Waters, and Gary Miller. The program would use no tax dollars. A broad coalition of organizations H.R. 600, including the National Association of Homebuilders, the U.S. Conference of Mayors, the Congressional Black Caucus, the Congressional Hispanic Caucus, and the Labor Council for Latin American Advancement. Learn more about H.R. 600 at www.ameridream.org.
BACKGROUND: AmeriDream, a 501(c)(3) charity, was established in 1999 to provide housing-related programs to low and moderate income individuals and families. AmeriDream provides a wide range of programs, including homebuyer education, loss mitigation counseling, community development, and privately-funded down payment assistance. These programs are provided at no cost to the taxpayer. AmeriDream not only seeks to help families purchase homes, but also provide them with the education and other resources needed to be responsible homeowners.
Tuesday, May 26, 2009
Three More Homes Just Listed By The Cameron Team!
The Cameron Team has put 3 more homes on the market!!
Campina
Dew Drop
AND... 71st Drive!
These homes are a Steal of a Deal!!
Campina
Dew Drop
AND... 71st Drive!
These homes are a Steal of a Deal!!
ZILLOW'S ZESTIMATE
Friday, May 22, 2009
The Word is OUT: Phoenix's housing bust goes boom
Yes, the word is out. Our market is showing signs of bottoming in its over sold state. Buyers are getting out bid on homes all over the valley. This is the time to get back in the market.
Are you interested in seeing homes before most agents even know they are available?? You can, just go to http://www.arizonabankdeals.com/
Please enjoy this story on how the Phoenix housing market is going from BUST to BOOM! And don't miss out this time around!
Phoenix's housing bust goes boom
By Nicholas Riccardi
May 18, 2009
Reporting from Phoenix -- After four years of renting because they were priced out of the real estate market, Jamia Jenkins and Scott Renshaw concluded the time had arrived for them to buy.
They saw that home prices had dropped so fast here -- faster than in any other big city in the nation -- that mortgage payments would be less than the $900 they paid in rent. The city is littered with foreclosed houses, so the couple figured they could easily snatch up something in the low $100,000s.
Three months later, they're still looking.
They have submitted 13 offers and been overbid each time.
"It's just pathetic," said Jenkins, 53. "Investors are going out there and outbidding everyone."
Phoenix's housing bust has turned into a quasi-boom, a sign that its market may have hit bottom and a sneak preview of what a national housing recovery could look like.
More homes are selling than at any time since 2006. Prices are slowly stabilizing. Buyers are once again finding themselves in frantic bidding wars -- only this time over foreclosed houses selling at deep discounts rather than ranch homes listing for vast sums.
Read the rest of the story: http://www.latimes.com/news/nationworld/nation/la-na-phoenix18-2009may18,0,7979477.story
Are you interested in seeing homes before most agents even know they are available?? You can, just go to http://www.arizonabankdeals.com/
Please enjoy this story on how the Phoenix housing market is going from BUST to BOOM! And don't miss out this time around!
Phoenix's housing bust goes boom
By Nicholas Riccardi
May 18, 2009
Reporting from Phoenix -- After four years of renting because they were priced out of the real estate market, Jamia Jenkins and Scott Renshaw concluded the time had arrived for them to buy.
They saw that home prices had dropped so fast here -- faster than in any other big city in the nation -- that mortgage payments would be less than the $900 they paid in rent. The city is littered with foreclosed houses, so the couple figured they could easily snatch up something in the low $100,000s.
Three months later, they're still looking.
They have submitted 13 offers and been overbid each time.
"It's just pathetic," said Jenkins, 53. "Investors are going out there and outbidding everyone."
Phoenix's housing bust has turned into a quasi-boom, a sign that its market may have hit bottom and a sneak preview of what a national housing recovery could look like.
More homes are selling than at any time since 2006. Prices are slowly stabilizing. Buyers are once again finding themselves in frantic bidding wars -- only this time over foreclosed houses selling at deep discounts rather than ranch homes listing for vast sums.
Read the rest of the story: http://www.latimes.com/news/nationworld/nation/la-na-phoenix18-2009may18,0,7979477.story
APS, Lockheed Martin Corp and Starwood Energy join to build 2nd APS Solar Plant
Awesome news in my eyes. I know there are many out there that still don't believe the release of Carbon into our atmosphere is damaging the planet. It is time to wake up!
Right on to APS. This new plant, Starwood Solar I, will be up and running by 2013. The plant will boost the amount of renewable sources for energy that APS has dramatically. When it is up and running, they will beat the Arizona regulation of 4.5% of renewable energy. They will actually double the required amount to 9%.
We are the valley of the SUN. The country needs more energy. We should be the leaders with innovation, design and manufacturing of Solar energy. Why aren't we? It is simple. The fluctuations in the cost of oil make it difficult. If oil was $150 per barrel and going up, then investors would support Solar with much greater investment. Or if the government would create regulation that supports this investment and takes away the risk created by oil prices bouncing all over, then investors would jump in. Remember, through regulation and government subsidies we pump about $17 billion into the US oil industry every year. Let's move that money to Solar, Wind, Geo Thermo and others and kick our addiction to oil. Thus slow down the funding to terrorists!
I urge you ALL to support legislators that "get it". Ones that will get us some Federal monies to team up with ASU and private enterprise. Increasing the research and development of these ideas, adding jobs and getting it done before another country does. We want them to buy from us, not us buy from them!
Just my opinion...Jeff Cameron
Right on to APS. This new plant, Starwood Solar I, will be up and running by 2013. The plant will boost the amount of renewable sources for energy that APS has dramatically. When it is up and running, they will beat the Arizona regulation of 4.5% of renewable energy. They will actually double the required amount to 9%.
We are the valley of the SUN. The country needs more energy. We should be the leaders with innovation, design and manufacturing of Solar energy. Why aren't we? It is simple. The fluctuations in the cost of oil make it difficult. If oil was $150 per barrel and going up, then investors would support Solar with much greater investment. Or if the government would create regulation that supports this investment and takes away the risk created by oil prices bouncing all over, then investors would jump in. Remember, through regulation and government subsidies we pump about $17 billion into the US oil industry every year. Let's move that money to Solar, Wind, Geo Thermo and others and kick our addiction to oil. Thus slow down the funding to terrorists!
I urge you ALL to support legislators that "get it". Ones that will get us some Federal monies to team up with ASU and private enterprise. Increasing the research and development of these ideas, adding jobs and getting it done before another country does. We want them to buy from us, not us buy from them!
Just my opinion...Jeff Cameron
Wednesday, May 20, 2009
Bank-Owned Home Listed by the Cameron Team Just Reduced In Price!!
This 3 bed 2 bath home is clean and well maintained. Home has Living and Family Room. Kitchen is bright and open with gas stove, island, pantry, and breakfast area. Carpet in all the right places, wood blind, ceiling fans with lights. Private Backyard with covered patio, and cabinets in garage. Your buyer will LOVE this home.
PHOENIX RANKS 5TH FOR MIGRATION OF PEOPLE
This is why our real estate market is recovery more quickly, people are still moving here or buying second homes here. I can't tell you how many out of state buyers we have sold homes to or are working with to buy homes, there are a ton. I wanted to share this good news about the Phoenix Market.
5 cities where Americans are relocating
U.S. migration may be down overall, but these vibrant metro areas are still attracting newcomers.
By Forbes
Austin, Texas, is No. 2 on the list of cities where Americans are relocating. © Brandon Seidel/Shutterstock
Unemployment is on the rise, credit is tight and consumers aren't spending — which means they aren't picking up and moving much, either. Very few places in America saw significant population growth in 2008.
Despite the overall economic slowdown, some parts of the country keep on moving ahead, attracting more and more newcomers — even if it's at a slower pace than in more sound economic times. These places still offer a semblance of stability, as well as great weather, cultural life and, in many cases, affordability.
Top 5 cities where Americans are relocating
1. Raleigh, N.C.
2. Austin, Texas
3. Charlotte, N.C.
4. Phoenix
5. Dallas
Read the rest of the story: http://realestate.msn.com/article.aspx?cp-documentid=19873357>1=35000
5 cities where Americans are relocating
U.S. migration may be down overall, but these vibrant metro areas are still attracting newcomers.
By Forbes
Austin, Texas, is No. 2 on the list of cities where Americans are relocating. © Brandon Seidel/Shutterstock
Unemployment is on the rise, credit is tight and consumers aren't spending — which means they aren't picking up and moving much, either. Very few places in America saw significant population growth in 2008.
Despite the overall economic slowdown, some parts of the country keep on moving ahead, attracting more and more newcomers — even if it's at a slower pace than in more sound economic times. These places still offer a semblance of stability, as well as great weather, cultural life and, in many cases, affordability.
Top 5 cities where Americans are relocating
1. Raleigh, N.C.
2. Austin, Texas
3. Charlotte, N.C.
4. Phoenix
5. Dallas
Read the rest of the story: http://realestate.msn.com/article.aspx?cp-documentid=19873357>1=35000
Tuesday, May 19, 2009
SO MUCH FOR THE TAX CREDIT AS A DOWN PAYMENT
Looks like they flip flopped on this deal. This would have really brought in more buyers at the lower price ranges. We have 3 buyers right now in the saving mode, that would have bought today if they could have used the tax credit for their downpayment. This would have increased demand and helped sell those foreclosures and bank owned properties.
Tax credit ineligible for down payment
Feds reverse rule to assist first-time home buyers
by J. Craig Anderson - May. 19, 2009 12:00 AM
The Arizona Republic
Federal officials on Monday reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.
A week earlier, U.S. Department of Housing and Urban Development Secretary Shaun Donovan had told the National Association of Home Builders that HUD would let banks and local governments offer short-term "bridge loans" to cover the down payment for first-time buyers eligible for the tax credit. The loans would have been available to applicants for federally insured mortgages such as Federal Housing Administration loans.
Lenders, home builders and real- estate agents had reacted favorably to the bridge-loan proposal, saying it would open up the housing market to more first-time buyers.
Tax credit ineligible for down payment
Feds reverse rule to assist first-time home buyers
by J. Craig Anderson - May. 19, 2009 12:00 AM
The Arizona Republic
Federal officials on Monday reversed an earlier decision to allow first-time home buyers to use an $8,000 tax credit to borrow the down payment on a home.
A week earlier, U.S. Department of Housing and Urban Development Secretary Shaun Donovan had told the National Association of Home Builders that HUD would let banks and local governments offer short-term "bridge loans" to cover the down payment for first-time buyers eligible for the tax credit. The loans would have been available to applicants for federally insured mortgages such as Federal Housing Administration loans.
Lenders, home builders and real- estate agents had reacted favorably to the bridge-loan proposal, saying it would open up the housing market to more first-time buyers.
WITH HOUSING TURN AROUND WILL COME RETAIL SALES AND JOBS
This is just the beginning. With all these homes selling that are in need of repair, Home Depot and lowe's are going to be increasing sales and profits. We are moving in the right direction.
Just my opinion...Jeff Cameron
Depot Profit Rises on Cost Cuts
Text Size 
Home Depot's quarterly profit beat Wall Street estimates on Tuesday as the world's largest home improvement chain reined in expenses.
 |
Neubie Home Depot Store |
The results came the day after rival Lowe's reported better-than-expected quarterly earnings as it saw some strength in outdoor projects during the spring, even though consumers still kept away big-ticket home renovations.
Read the rest of the story: http://www.cnbc.com/id/30819686
Monday, May 18, 2009
MORE GOOD NEWS FOR FIRST TIME HOME BUYERS, USE TAX CREDIT AS DOWNPAYMENT
Yes, that is NAR working to find answers to the mortgage meltdown. HUD is working on a program with preferred lenders to use the First Time Home Buyer Tax Credit of $8,000 as a down payment.
This would add to demand. This whole issue right now is about supply and demand. Oh and don't listen to those naysayers that blamed this whole mess on 100% financing. This problem was not caused by 100% financing or stated income. It was caused because lenders fraudulently putting people in loans not designed for them. What I mean is the stated income loans were designed for people that were paid through 1099. Those people are unjustly qualified by lenders and thus many times need stated income. A 1099 self employed individual may have $2,000 a month is payments as part of their expenses. Lenders require them to count that expense twice, once in their P & L and again when qualifying for the loan. Thus, stated income was needed. However, in the heyday, when a buyer did not qualify through conventional means the lender just switched them to stated income. Even though the buyer was a W-2 employee. Most buyers had no idea this was happening, nor that it was fraudulent.
OMG, I went off on a tangent again. Read the article below from NAR about HUD allowing buyers to use their tax credit towards their downpayment.
Just my opinion...Jeff Cameron
WASHINGTON, May 12, 2009
This would add to demand. This whole issue right now is about supply and demand. Oh and don't listen to those naysayers that blamed this whole mess on 100% financing. This problem was not caused by 100% financing or stated income. It was caused because lenders fraudulently putting people in loans not designed for them. What I mean is the stated income loans were designed for people that were paid through 1099. Those people are unjustly qualified by lenders and thus many times need stated income. A 1099 self employed individual may have $2,000 a month is payments as part of their expenses. Lenders require them to count that expense twice, once in their P & L and again when qualifying for the loan. Thus, stated income was needed. However, in the heyday, when a buyer did not qualify through conventional means the lender just switched them to stated income. Even though the buyer was a W-2 employee. Most buyers had no idea this was happening, nor that it was fraudulent.
OMG, I went off on a tangent again. Read the article below from NAR about HUD allowing buyers to use their tax credit towards their downpayment.
Just my opinion...Jeff Cameron
WASHINGTON, May 12, 2009
Shaun Donovan, secretary of the U.S. Department of Housing and Urban Development, said that the
Federal Housing Administration is going to permit its lenders to allow homeowners to use the $8,000 tax credit as a downpayment.
Donovan’s remarks came in an address to several thousand Realtors® gathered this morning at The Real Estate Summit: Advancing the U.S. Economy, a special daylong session at the Realtors® Midyear Legislative Meetings & Trade Expo here.
Secretary Donovan said that important changes, which the National Association of Realtors® has been calling for, will help consumers purchase a home. “We all want to enable FHA consumers to access the home buyer tax credit funds when they close on their home loans so that the cash can be used as a downpayment,” Donovan said. According to Donovan, the FHA’s approved lenders will be permitted to “monetize” the tax credit through short-term bridge loans. This will allow eligible home buyers to access the funds immediately at the closing table.
Donovan said the Obama administration plans to further stabilize the housing market. “I do think we have some early signs hat the market overall is stabilizing,” said Donovan. “Since January we’ve seen both home sales moving up and down around a relatively stable number and we are seeing the first signs that the rapid decline in home prices is starting to abate.”
Friday, May 15, 2009
THE CAMERON TEAM MAKES ABC 15 NEWS
In a real estate report on ABC 15 news, The Cameron Team listing on Palm Ridge in Sienna Canyon at McDowell Mountain Ranch was shown. This article was about the housing market hitting bottom. They state the 85255 area sales prices are up 11% YTD. I don't know that I agree with that, but we love the recognition! Thanks ABC 15 news.
Jeff Cameron
See our listing and sign at the link below.
http://www.abc15.com/mediacenter/local.aspx
Click on the story, "Do you know what your home is worth in Arizona?"
Jeff Cameron
See our listing and sign at the link below.
http://www.abc15.com/mediacenter/local.aspx
Click on the story, "Do you know what your home is worth in Arizona?"
INVENTORY OF SINGLE FAMILY HOMES DOWN 33% YEAR TO DATE
How about that for a head liner. It is the truth. On January 1, 2009, there were 43,000 Single Family Homes on the market in the MLS here in the Metro Phoenix area through ARMLS. Today that number is 28,851. That is a 33% drop in inventory over the past 4.5 months! The real estate market here is the valley is turning positive.
I listed a home just north of Grayhawk in Scottsdale on Tuesday. We have 4 offers and will be selling the home for over list price. It was listed based on the last comps. Yes, it is a bank owned Foreclosure home, but what difference does it make? It is selling for more than the last sale, that is called appreciation.
To get bank owned homes emailed to you before most Realtors even know they exist, go to www.ArizonaBankDeals.com
I listed a home just north of Grayhawk in Scottsdale on Tuesday. We have 4 offers and will be selling the home for over list price. It was listed based on the last comps. Yes, it is a bank owned Foreclosure home, but what difference does it make? It is selling for more than the last sale, that is called appreciation.
To get bank owned homes emailed to you before most Realtors even know they exist, go to www.ArizonaBankDeals.com
Wednesday, May 13, 2009
REPUBLIC: VALLEY'S RESALE NUMBERS BRING HOMES OF RECOVERY
Hey hey hey, two days in a row with positive news about the real estate market here in Metro Phoenix, are the news people dipping into the coolaid???
Today the republic reported last month 6,640 existing homes changed hands, well below what the MLS shows, but any how that was up from their 5,940 number for March. Most important, they are finally reporting that "home sales have doubled from April 2008." Then they boldly reported, "Valley foreclosures fell in both March and April, more indicators that the housing market is beginning to show signs of improvement."
Two big thumbs up for the Arizona Republic, thanks for reporting the good news. Let's keep it up. With a market this low, 5 years from now looking back we will see that every buyer was a winner!
Just my opinion...Jeff Cameron
PS
Want to see foreclosure homes before most brokers even know they exist?
www.ArizonaBankDeals.com
Today the republic reported last month 6,640 existing homes changed hands, well below what the MLS shows, but any how that was up from their 5,940 number for March. Most important, they are finally reporting that "home sales have doubled from April 2008." Then they boldly reported, "Valley foreclosures fell in both March and April, more indicators that the housing market is beginning to show signs of improvement."
Two big thumbs up for the Arizona Republic, thanks for reporting the good news. Let's keep it up. With a market this low, 5 years from now looking back we will see that every buyer was a winner!
Just my opinion...Jeff Cameron
PS
Want to see foreclosure homes before most brokers even know they exist?
www.ArizonaBankDeals.com
Tuesday, May 12, 2009
FINALLY, SOME REPORTS ON HIGHER SALES OF HOME
It is so nice to finally see some real reports on how much the home sales have jumped recently. This report shows home sales in Arizona are up 50.2%. Prices are down, but sales are up. We need demand to take over before we see price increases. They are coming soon, well coming now in some areas. Below is taken from the article quoted after this quick quote, there is a link to the whole article at the end.
Just my opinion...Jeff Cameron
The largest sales gains were seen in some of the hardest hit areas. Nevada was up 116.8 percent from a year ago. California was up 80.6 percent. Arizona was up 50.2 percent and Florida was up 25 percent.
About half of all home purchases in the first quarter of 2009 were first-time home buyers taking advantage of the deeply discounted foreclosures and short sales, as well as their $8,000 tax credit, according to the National Association of Realtors (NAR). NAR released its Metropolitan Median Prices survey for the first quarter today.
read the rest of the story: http://www.dailyfinance.com/2009/05/12/first-time-homebuyers-taking-advantage-of-foreclosures-and-short/
Just my opinion...Jeff Cameron
The largest sales gains were seen in some of the hardest hit areas. Nevada was up 116.8 percent from a year ago. California was up 80.6 percent. Arizona was up 50.2 percent and Florida was up 25 percent.
First time homebuyers taking advantage of foreclosures and short sales
About half of all home purchases in the first quarter of 2009 were first-time home buyers taking advantage of the deeply discounted foreclosures and short sales, as well as their $8,000 tax credit, according to the National Association of Realtors (NAR). NAR released its Metropolitan Median Prices survey for the first quarter today.read the rest of the story: http://www.dailyfinance.com/2009/05/12/first-time-homebuyers-taking-advantage-of-foreclosures-and-short/
Great Bank-Owned Home in Grayhawk Just Listed By The Cameron Team!
Perfect family home in N Scottsdale w/large walk-in bdrm closets, huge storage closets, & large loft area for kids, office, or exercise. Upgrades includes: 16' tile, built-in refrigerator, quite dishwasher, recessed lighting & great lighting fixtures, 9 Ft ceilings, & custom 2 1/2' wood blinds. Home is even Pre-wired for surround sound! Wonderfully landscaped front & back yard with Malibu lights. Neighborhood has sidewalks, a greenbelt, & kids play area. Close to shopping, entertainment, & schools! All offers are subject to IndyMac Banks Senior management approval and any offers or counter offers by Indymac bank are not binding unless the entire agreement is ratified by all parties. Any cash offers, must include proof of funds &buyer agrees to pay $75 doc fee at closing. No SPDS or CLUE
TRADE DEFICIT $300 BILLION BELOW LAST YEAR, COULD THAT BE DUE TO OIL PRICES?
So, I read the report on the trade deficit and shockingly no where is oil mentioned. We import about 20 million barrels of oil a day. At today's approximated $60 per barrel that is $1.2 billion dollars a day in trade deficit. Multiply times 30 days in the month and $36 billion per month is our trade deficit with the world in oil. If my numbers are correct, then we would have a trade surplus if it weren't for oil imports!!! Please someone correct me if I am wrong!
Let's look at last year when oil was, say an average of $120 per barrel. Those are easy numbers, all other variables the same then our trade deficit would be $72 billion per month. Wow, read the article, last year we averaged $56.75 billion per month in trade deficit. I guess all other variables were not the same.
The REALITY IS the trade deficit is breaking this country, our wealth being shipped to other countries. Folks, this is a redistribution of wealth, in other words a TAX. This is easily curred, stop importing oil. That would break the backs of countries like: Russia, Iran, Venezuela, and affect others in the middle east, but those in the middle east don't need any more money.
I know we can't stop importing oil over night, but we can pass regulations that equalize the playing field for clean energies. REMEMBER, big oil has had the help of favorable regulations for years and today is still subsidized by the US Government or Tax payer for 10's of billions of dollars per year.
OK, just some food for thought.
Just my opinion...Jeff Cameron
Let's look at last year when oil was, say an average of $120 per barrel. Those are easy numbers, all other variables the same then our trade deficit would be $72 billion per month. Wow, read the article, last year we averaged $56.75 billion per month in trade deficit. I guess all other variables were not the same.
The REALITY IS the trade deficit is breaking this country, our wealth being shipped to other countries. Folks, this is a redistribution of wealth, in other words a TAX. This is easily curred, stop importing oil. That would break the backs of countries like: Russia, Iran, Venezuela, and affect others in the middle east, but those in the middle east don't need any more money.
I know we can't stop importing oil over night, but we can pass regulations that equalize the playing field for clean energies. REMEMBER, big oil has had the help of favorable regulations for years and today is still subsidized by the US Government or Tax payer for 10's of billions of dollars per year.
OK, just some food for thought.
Just my opinion...Jeff Cameron
Trade Deficit Widens to $27.6B
By MARTIN CRUTSINGER, AP
WASHINGTON (May 12) - The U.S. trade deficit rose in March for the first time since last July as the global recession cut sharply into sales of American exports. The politically sensitive deficit with China increased.
The Commerce Department said Tuesday the deficit widened to $27.6 billion in March, slightly lower than the $29 billion gap that economists had forecast.
The March deficit was 5.5 percent higher than February's revised $26.1 billion trade gap, which had been the smallest since November 1999.
Through the first three months of this year, the deficit is running at an annual rate of $359.7 billion, far below last year's $681.1 billion. Economists expect the deficit will remain at low levels this year as a recession in the U.S. crimps demand for foreign goods.
Read the rest of the story: http://money.aol.com/article/trade-deficit-widens-to-276b/471938
Sunday, May 10, 2009
Comments on Arizona Republic's Article, "Bankers fault themselves in meltdown"
The pen is mightier than the sword! After reading the article, Bankers fault themselves in meltdown" I had to send in my 2 cents. I believe the article and research behind it shows how the banking industry is still in denial and does not understand what they did to us! My letter to the republic writer, Russ Wiles is below.
Russ,
Thank you for your article, "Bankers fault themselves in Meltdown." I am glad to see more attention to this subject. However, I believe the bankers are still in denial about what happened and thus making things worse.
I am a valley Realtor and have been since 1995. I was in the trenches and my experiences over the past few years guide me to these beliefs.
This meltdown has can be blamed on many groups, including us Realtors, however, I believe the largest issues lie with the lending industry. I don't believe it was the pressure for home ownership that caused the meltdown, but the pressure for bank fraud. I don't believe interest only loans are the problem, nor do I believe 100% financing is the issue. When we look at 2 example buyers in 2007, both buying $300,000 home. If one was interest only, then 2 years later they owe about $292,000. At the same time another buyer puts 10% down and 2 years later owes, $263,000. In each case when the homeowner finds their home is now worth $140,000, they begin to question why they are working so hard to make these payments. They also begin to question why the value was so high and believe they have been scammed. Simple issues of life come along and push them over the edge to short sale, loan modification or foreclosure.
BUT WHY DID PRICES CLIMB SO HIGH? What I saw and what I believe is the following:
Loan officers started pushing "Sub Prime Loans" they make more money on them.
"Quasi Investors" stared buying 5 to 10 homes thinking they could flip them and strike it rich.
Demand for Sub Prime Loans increased because of Wall Street FRAUD.
Values went up to a point where most could not qualify without a "liar" loan, and most purchased liar loans not because they knew they were, but because the unlicensed loan officer sold them that loan. They make more money and can sell a larger loan amount in this case for this buyer.
Appraisers used comps from totally unrelated neighborhoods to get values higher.
People were making tons of money so the "rush for real estate" exacerbated things.
With this value run lasting about 4 years, even the biggest skeptical gave in to what was happening.
The only way to stop it was for lenders to stop lending. They did and that fed to the crash. Right now we are in a huge recovery. It has started in the lower end price ranges, but is quickly moving to higher value homes. Supply of Single Family Homes is 29,603 there are 16,033 pending home and 25,407 have closed escrow so far this year. It is easy to see the numbers are looking better. The inventory level is below 4 months when looking at the past months closings and right at 5 months when looking at closed YTD. We are in recovery. But, due to stricter mortgage and appraisal rules today, values continue to decline. WHICH IS HURTING THE BANKS MORE THAN ANYONE ELSE, except the tax payer.
Wow, I think I got off track. Lastly, I just want to say, when I look at what the bankers say:
1. "top answer... lax loan-underwriting standards" I say, BS, it was FRAUDULENT use of those standards by un-licensed loan officers.
2. "next most common response...political focus on encouraging home ownership" NO one told you to go to the masses and sell them fraudulent loans to increase home ownership. There were plenty of other options that would not have run up the market.
3. Then, "lax oversight of the mortgage industry." Finally, this should be number 1 through 7! Bingo!
The "unreliable and dishonest borrowers" that I mostly experienced then and now with the short sales, were investors! As I called them, "Quasi Investors" which is a term I use for someone that is not in the financial position to be an investor.
So many blame the public, I mean the borrower, for not reading loan documents. How many people do you think read their: health insurance plan, life insurance policy, auto insurance policy, prospectus for every company they invest in, research on their 401K and all related documents. I would believe the number of Americans who read ALL these documents would be in the less than 1% range. How can you blame a borrower. They get 2 weeks worth of solid reading and have to do it in 1 hour!!!! Oh and the mortgage company is usually getting those documents to title late, so they are rushed to get in and sign to close on time.
Anyway, I hope we can stop blaming issues that did not cause this problem. Focus on the ones that did and realize, when the market is hot is when you should make it more difficult to get approved. When the market is hot is when appraisers should be more stringent. Right now we need 100% financing, we need to take into consideration the difference between a trashed REO or Short Sale compared to a nice home when appraisals are done.
That's it, HAPPY MOTHER'S DAY!
Thank You and Make It A GREAT Day,
Jeff Cameron
Keller Williams Integrity First
480-502-7699
Jeff@AzREOConnection.com
www.TheCameronTeam.com
www.ArizonaBankDeals.com
Russ,
Thank you for your article, "Bankers fault themselves in Meltdown." I am glad to see more attention to this subject. However, I believe the bankers are still in denial about what happened and thus making things worse.
I am a valley Realtor and have been since 1995. I was in the trenches and my experiences over the past few years guide me to these beliefs.
This meltdown has can be blamed on many groups, including us Realtors, however, I believe the largest issues lie with the lending industry. I don't believe it was the pressure for home ownership that caused the meltdown, but the pressure for bank fraud. I don't believe interest only loans are the problem, nor do I believe 100% financing is the issue. When we look at 2 example buyers in 2007, both buying $300,000 home. If one was interest only, then 2 years later they owe about $292,000. At the same time another buyer puts 10% down and 2 years later owes, $263,000. In each case when the homeowner finds their home is now worth $140,000, they begin to question why they are working so hard to make these payments. They also begin to question why the value was so high and believe they have been scammed. Simple issues of life come along and push them over the edge to short sale, loan modification or foreclosure.
BUT WHY DID PRICES CLIMB SO HIGH? What I saw and what I believe is the following:
Loan officers started pushing "Sub Prime Loans" they make more money on them.
"Quasi Investors" stared buying 5 to 10 homes thinking they could flip them and strike it rich.
Demand for Sub Prime Loans increased because of Wall Street FRAUD.
Values went up to a point where most could not qualify without a "liar" loan, and most purchased liar loans not because they knew they were, but because the unlicensed loan officer sold them that loan. They make more money and can sell a larger loan amount in this case for this buyer.
Appraisers used comps from totally unrelated neighborhoods to get values higher.
People were making tons of money so the "rush for real estate" exacerbated things.
With this value run lasting about 4 years, even the biggest skeptical gave in to what was happening.
The only way to stop it was for lenders to stop lending. They did and that fed to the crash. Right now we are in a huge recovery. It has started in the lower end price ranges, but is quickly moving to higher value homes. Supply of Single Family Homes is 29,603 there are 16,033 pending home and 25,407 have closed escrow so far this year. It is easy to see the numbers are looking better. The inventory level is below 4 months when looking at the past months closings and right at 5 months when looking at closed YTD. We are in recovery. But, due to stricter mortgage and appraisal rules today, values continue to decline. WHICH IS HURTING THE BANKS MORE THAN ANYONE ELSE, except the tax payer.
Wow, I think I got off track. Lastly, I just want to say, when I look at what the bankers say:
1. "top answer... lax loan-underwriting standards" I say, BS, it was FRAUDULENT use of those standards by un-licensed loan officers.
2. "next most common response...political focus on encouraging home ownership" NO one told you to go to the masses and sell them fraudulent loans to increase home ownership. There were plenty of other options that would not have run up the market.
3. Then, "lax oversight of the mortgage industry." Finally, this should be number 1 through 7! Bingo!
The "unreliable and dishonest borrowers" that I mostly experienced then and now with the short sales, were investors! As I called them, "Quasi Investors" which is a term I use for someone that is not in the financial position to be an investor.
So many blame the public, I mean the borrower, for not reading loan documents. How many people do you think read their: health insurance plan, life insurance policy, auto insurance policy, prospectus for every company they invest in, research on their 401K and all related documents. I would believe the number of Americans who read ALL these documents would be in the less than 1% range. How can you blame a borrower. They get 2 weeks worth of solid reading and have to do it in 1 hour!!!! Oh and the mortgage company is usually getting those documents to title late, so they are rushed to get in and sign to close on time.
Anyway, I hope we can stop blaming issues that did not cause this problem. Focus on the ones that did and realize, when the market is hot is when you should make it more difficult to get approved. When the market is hot is when appraisers should be more stringent. Right now we need 100% financing, we need to take into consideration the difference between a trashed REO or Short Sale compared to a nice home when appraisals are done.
That's it, HAPPY MOTHER'S DAY!
Thank You and Make It A GREAT Day,
Jeff Cameron
Keller Williams Integrity First
480-502-7699
Jeff@AzREOConnection.com
www.TheCameronTeam.com
www.ArizonaBankDeals.com
Friday, May 8, 2009
Another Bank Owned Home Closed Thanks To The Cameron Team!
The Cameron Team is on a role and closed another Bank-Owned home today!! We were the listing agents to this great metro phoenix property. The buyers and the bank couldn't be happier with the ease of this close!
Villa Maria~ Wonderful all block 2 bed 2 bath home in a very nice and well maintained neighborhood located in North Phoenix, close to I-17 and 101. Home has a 2 car garage, large family room, great kitchen, spacious backyard, and carpet in all the right places. No HOA and all ready for a new family.
SOLAR ENERGY SEMINAR in MCDOWELL MOUNTAIN RANCH
In reading through Trail Talk, our newsletter here in McDowell Mountain Ranch, I read about a coming solar Energy Seminar. Interesting, I plan on attending. Clean energy is our future and where we should be spending resources in research and development. I truly believe clean energy will be the next boom, like the technology boom of the 90's. We can either be the leader or buy it from other nations, which would you prefer?
There are 2 seminars: May 20th and June 10th at 6 p.m. The will be at The McDowell Center, here in McDowell Mountain Ranch.
Sky High Energy will be hosting the solar seminar. I encourage all to attend. Let's show them we care. We care not only about new technology, tax credits and the environment. But we care about making the USA a leader in ALL clean energy technologies.
I look forward to seeing you there.
There are 2 seminars: May 20th and June 10th at 6 p.m. The will be at The McDowell Center, here in McDowell Mountain Ranch.
Sky High Energy will be hosting the solar seminar. I encourage all to attend. Let's show them we care. We care not only about new technology, tax credits and the environment. But we care about making the USA a leader in ALL clean energy technologies.
I look forward to seeing you there.
JOB LOSS SLOWS ACROSS AMERICA
The job loss slowed in April as the market begins its recovery. Jobs are always a lagging indicator. I believe we will be in recovery by the 4th quarter of this year. As the sales of homes continue to improve, this will add jobs. More lenders, more title reps and more Realtors. As these new home owners move in to these REO, foreclosure, homes; they will need to fix them up. They will buy paint, carpet, appliances, plants and furniture; or better yet hire contractors to do much of the work. This will continue to add to the job market and bail us out of this mess.
Just my opinion...Jeff Cameron
Article from CNBC.com below
Layoffs Slow To 539,000 in April; Jobless Rate Rises
Microsoft CorpBy: AP and CNBC 08 May 2009 09:37 AM The pace of layoffs slowed in April when employers cut 539,000 jobs, the fewest in six months.
But the unemployment rate climbed to 8.9 percent, the highest since late 1983, as many businesses remain wary of hiring given all the economic uncertainties.
The Labor Department tally released Friday wasn't nearly as deep as the 620,000 job cuts that economists were expecting, and was helped by a burst of government hiring.
The rise in the unemployment rate from 8.5 percent in March matched economists' forecasts.
See the rest of the story
http://www.cnbc.com/id/30638052
Just my opinion...Jeff Cameron
Article from CNBC.com below
Layoffs Slow To 539,000 in April; Jobless Rate Rises
Microsoft CorpBy: AP and CNBC 08 May 2009 09:37 AM The pace of layoffs slowed in April when employers cut 539,000 jobs, the fewest in six months.
But the unemployment rate climbed to 8.9 percent, the highest since late 1983, as many businesses remain wary of hiring given all the economic uncertainties.
The Labor Department tally released Friday wasn't nearly as deep as the 620,000 job cuts that economists were expecting, and was helped by a burst of government hiring.
The rise in the unemployment rate from 8.5 percent in March matched economists' forecasts.
See the rest of the story
http://www.cnbc.com/id/30638052
Thursday, May 7, 2009
2 More Houses Closed Today Thanks To The Cameron Team!!!
The Cameron Team closed two more houses today! We were the listing agents for Meadow and the buyers agents for Kathleen!! WOW What a crazy week its been dealing with all these escrows. These two great homes were also the rare regular listed homes and therefore we did not have to wait for the bank to approve the price! The Happy Home Owners are moving in as we speak!
Meadow~NOT A BANK OWNED HOME OR SHORT SALE. SAVE TIME AND MONEY WITH THIS HOME. No Hassle with the Bank, No waiting for approval, No needed Repairs. Home is in GREAT condition, well maintained, and completely turn-key. This 3 bedroom + loft can easily be converted to a 4 bedroom home. Backyard offers beautiful yard with pebbletech play pool, stucco and painted walls, covered patio and colorful flowering. Inside you will find faux wood floors, gas fireplace, wood blinds, custom painting and decorative lighting. The kitchen offers raised panel cabinets, microwave and gas cooking. Home is convenient to 101 & 51 Freeways plus Desert Ridge, PV Mall, Kierland and a quick jump to downtown.
Kathleen~ North Ranch! Well maintained single level home situated on nearly 1/3 acre corner lot w/desert landscaping. N/S exposure. Vaulted ceilings in liv./din. room, fam. room, kitchen & master bdrm. French doors from eat-in kitchen to cov'd patio & lovely south facing backyard w/pool. 4bdrms 2 baths w/master split. Spacious master bdrm. w/walk-in closet & arcadia doors to pool. Master bath features his & her sinks, glass block & garden tub. Light/bright kitchen w/skylight and walk-in pantry. Kitchen opens onto family room w/wood burning fireplace. Water softener & R/O system. Add'l storage in 3 car garage. A great home in a great location. Near Kierland Commons, Scottsdale 101, Desert Ridge, Fashion Square, restaurants, movies, groceries, golf & much more.
Meadow~NOT A BANK OWNED HOME OR SHORT SALE. SAVE TIME AND MONEY WITH THIS HOME. No Hassle with the Bank, No waiting for approval, No needed Repairs. Home is in GREAT condition, well maintained, and completely turn-key. This 3 bedroom + loft can easily be converted to a 4 bedroom home. Backyard offers beautiful yard with pebbletech play pool, stucco and painted walls, covered patio and colorful flowering. Inside you will find faux wood floors, gas fireplace, wood blinds, custom painting and decorative lighting. The kitchen offers raised panel cabinets, microwave and gas cooking. Home is convenient to 101 & 51 Freeways plus Desert Ridge, PV Mall, Kierland and a quick jump to downtown.
Kathleen~ North Ranch! Well maintained single level home situated on nearly 1/3 acre corner lot w/desert landscaping. N/S exposure. Vaulted ceilings in liv./din. room, fam. room, kitchen & master bdrm. French doors from eat-in kitchen to cov'd patio & lovely south facing backyard w/pool. 4bdrms 2 baths w/master split. Spacious master bdrm. w/walk-in closet & arcadia doors to pool. Master bath features his & her sinks, glass block & garden tub. Light/bright kitchen w/skylight and walk-in pantry. Kitchen opens onto family room w/wood burning fireplace. Water softener & R/O system. Add'l storage in 3 car garage. A great home in a great location. Near Kierland Commons, Scottsdale 101, Desert Ridge, Fashion Square, restaurants, movies, groceries, golf & much more.
The Cameron Team Closes 4 Homes In The Last Week!
The Cameron Team has succesfully closed 4 homes in the metro phoenix area in the last week! Three of the four homes were bank owned! Cheerywood was sold by Jeff and Galvin was sold by Tony! We were the listing agents on San Miguel and Citrus Canyon!
GOOOOOOOOOOOO CAMERON TEAM!
Cherrywood~METICULOUS Chandler home that is Move-IN ready with 3 bedrooms, 3 full bathrooms, den/office with built ins, formal living & dining room, eat in kitchen and family room. Open floor plan, Split master bedroom with bay window overlooking the backyard, large master bath and custom closet. Lovely, private backyard landscaping with HEATED pool, large covered patio and red brick walkway. 3 car garage with insulated attic. Electrical upgrades with designated circuits to the office, game room, home theater and garage. Soft water & R/O system. Liquid stucco on exterior with 25 year warranty.
Citrus Canyon~ Very private, corner lot with lots of potential. Awesome 1,638 sq.ft.floorplan with 3 bedrooms, 2 baths plus front seperate formal living/dining and family room. Very open and spacious floorplan! This home and the community offer so much for such a little purchase price!
San Miguel~ Not your everyday REO, this beautiful central corridor remodel is turn key! 18'' tile floors throughout except the bedrooms. Granite slab in kitchen and baths! Kitchen fully remodeled with Hickory cabinets, Stainless appliances and granite slab. Family room added with fireplace. Large yard with room for pool! New hardware and doors! no dishwasher at home. FANTASTIC LOCATION
Galvin~NOT a short sale...corporate owned...much better!! Great property on almost an acre! Private pool, Separate casita with garage and decorative paint! Home needs minor cosmetic TLC. Come get it! Property to be sold as is. No disclosures, as seller has never lived in home.
GOOOOOOOOOOOO CAMERON TEAM!
Cherrywood~METICULOUS Chandler home that is Move-IN ready with 3 bedrooms, 3 full bathrooms, den/office with built ins, formal living & dining room, eat in kitchen and family room. Open floor plan, Split master bedroom with bay window overlooking the backyard, large master bath and custom closet. Lovely, private backyard landscaping with HEATED pool, large covered patio and red brick walkway. 3 car garage with insulated attic. Electrical upgrades with designated circuits to the office, game room, home theater and garage. Soft water & R/O system. Liquid stucco on exterior with 25 year warranty.
Citrus Canyon~ Very private, corner lot with lots of potential. Awesome 1,638 sq.ft.floorplan with 3 bedrooms, 2 baths plus front seperate formal living/dining and family room. Very open and spacious floorplan! This home and the community offer so much for such a little purchase price!
San Miguel~ Not your everyday REO, this beautiful central corridor remodel is turn key! 18'' tile floors throughout except the bedrooms. Granite slab in kitchen and baths! Kitchen fully remodeled with Hickory cabinets, Stainless appliances and granite slab. Family room added with fireplace. Large yard with room for pool! New hardware and doors! no dishwasher at home. FANTASTIC LOCATION
Galvin~NOT a short sale...corporate owned...much better!! Great property on almost an acre! Private pool, Separate casita with garage and decorative paint! Home needs minor cosmetic TLC. Come get it! Property to be sold as is. No disclosures, as seller has never lived in home.
Wednesday, May 6, 2009
Federal Funds Aid Foreclosure-Home Purchases
If you are a thinking about buying home in the near future you may wanna check this out! You can get money towards your downpayment!!!! Check out this site....www.yourhomeaz.com!!!!!!! You could possibly get up to $15,000 towards your downpayment and closing costs!! WOW!!!
Funding is made available through the U.S. Housing and Urban Development Neighborhood Stabilization Program (NSP). The state of Arizona and nine other counties and communities received more than $121 million to help stabilize our hardest hit neighborhoods through a variety of efforts.
FIND OUT IF YOU ARE ELIGIBLE!!!
New programs, backed by federal funds, now are available to help people buy foreclosure homes across metropolitan Phoenix.
Money for the programs, which include down-payment and closing-costs assistance, is coming from the $121 million in Neighborhood Stabilization funds Arizona is receiving.
The money must go toward helping the state's neighborhoods hardest hit by foreclosure, and most of those areas are in the Valley.
Neighborhood Stabilization programs are being offered by the state, Maricopa and Pima counties and the cities of Avondale, Chandler, Glendale, Mesa, Phoenix, Surprise and Tucson. Information on most of the programs is on the Arizona Department of Housing's new Web site, YourWayHome Az.com. Go to the site to see if you qualify. In some cases, buyers could qualify for more than one program.
Most cities are offering qualifying buyers help in purchasing and even renovating foreclosure homes. Phoenix received the biggest share of the federal funds, $39.5 million. It is offering eligible buyers as much as $15,000 in down payment and closing costs.
The state is using more than half of the $38 million it is getting to help people with down payments on foreclosure homes. Borrowers who earn 120 percent or less of an area's average median income are eligible.
Arizona's Neighborhood Stabilization funding was approved in December, but the money wasn't available until April. Not all of the programs are fully operational yet, but prospective buyers can put their names on waiting lists.
Most programs require home-buyer counseling.
Also, watch out for company Web sites with similar names that ask for money.
All information on the state's Web site is free, said Donald Cardon, who took over as director of the Housing Department in March. He said the Neighborhood Stabilization programs will help some people afford homes who couldn't just a year ago.
The YourWayHomeAz Web site will be updated as new programs are available. Neighborhood Stabilization funds must be spent by 2011. One concern is that in some of the neighborhoods, the supply of foreclosure homes is falling as more investors purchase the properties. The recent drop in Valley foreclosures could also impact the programs.
Funding is made available through the U.S. Housing and Urban Development Neighborhood Stabilization Program (NSP). The state of Arizona and nine other counties and communities received more than $121 million to help stabilize our hardest hit neighborhoods through a variety of efforts.
FIND OUT IF YOU ARE ELIGIBLE!!!
New programs, backed by federal funds, now are available to help people buy foreclosure homes across metropolitan Phoenix.
Money for the programs, which include down-payment and closing-costs assistance, is coming from the $121 million in Neighborhood Stabilization funds Arizona is receiving.
The money must go toward helping the state's neighborhoods hardest hit by foreclosure, and most of those areas are in the Valley.
Neighborhood Stabilization programs are being offered by the state, Maricopa and Pima counties and the cities of Avondale, Chandler, Glendale, Mesa, Phoenix, Surprise and Tucson. Information on most of the programs is on the Arizona Department of Housing's new Web site, YourWayHome Az.com. Go to the site to see if you qualify. In some cases, buyers could qualify for more than one program.
Most cities are offering qualifying buyers help in purchasing and even renovating foreclosure homes. Phoenix received the biggest share of the federal funds, $39.5 million. It is offering eligible buyers as much as $15,000 in down payment and closing costs.
The state is using more than half of the $38 million it is getting to help people with down payments on foreclosure homes. Borrowers who earn 120 percent or less of an area's average median income are eligible.
Arizona's Neighborhood Stabilization funding was approved in December, but the money wasn't available until April. Not all of the programs are fully operational yet, but prospective buyers can put their names on waiting lists.
Most programs require home-buyer counseling.
Also, watch out for company Web sites with similar names that ask for money.
All information on the state's Web site is free, said Donald Cardon, who took over as director of the Housing Department in March. He said the Neighborhood Stabilization programs will help some people afford homes who couldn't just a year ago.
The YourWayHomeAz Web site will be updated as new programs are available. Neighborhood Stabilization funds must be spent by 2011. One concern is that in some of the neighborhoods, the supply of foreclosure homes is falling as more investors purchase the properties. The recent drop in Valley foreclosures could also impact the programs.
Our new web site is a hit!!
Our new web site is a hit. We just got it up and running in late January of this year. We are driving more buyers than ever to our listings. Here are some stats for the month of April:
General Traffic
• 272 new visitor(s)
• 1186 search(es)
• 24617 propert(ies) viewed
Contacts and Leads
• 121 new subscriber(s)
The Best and Brightest
• The most popular active Featured Property on your site was: - 6511 W ADAMS STREET, Phoenix, AZ 85043-- Show me other Featured Listings that were popular
Your Site Activity
• You had 504 visitor(s) to your Site
• 327 of these visitor(s) are currently registered as Leads or Subscribers
Averages and Trends
• Your average site visitor conducted 10 search(es) and viewed 58 listing(s)
• Activity on your site is DOWN compared to last month
• You are in the top 4.0% of our most active Web sites
General Traffic
• 272 new visitor(s)
• 1186 search(es)
• 24617 propert(ies) viewed
Contacts and Leads
• 121 new subscriber(s)
The Best and Brightest
• The most popular active Featured Property on your site was: - 6511 W ADAMS STREET, Phoenix, AZ 85043-- Show me other Featured Listings that were popular
Your Site Activity
• You had 504 visitor(s) to your Site
• 327 of these visitor(s) are currently registered as Leads or Subscribers
Averages and Trends
• Your average site visitor conducted 10 search(es) and viewed 58 listing(s)
• Activity on your site is DOWN compared to last month
• You are in the top 4.0% of our most active Web sites
Tuesday, May 5, 2009
PENDING HOME SALES RISE ACROSS NATION, SOAR IN ARIZONA
I just returned from a convention in LA with famed real estate motivated and trainer, Tom Ferry. Top agents from across the country were present to learn and share what's happening in their markets. The tone was up beat, all agents were reporting tremendous activity in their markets. Some are seeing bidding wars where 20 offers bid a home 20% over asking price the first few days on the market.
Nationally, the news rocking Wall Street yesterday was that Pending Home Sales Index had risen 3.2%, greater than expected and is 1.1% higher than this time last year. I am not sure what the rest of the country is experiencing, but the reports from agents were good. Here in the Phoenix metro area, I have been tracking the market in a spread sheet since 2005. I track only single family homes, don't like the tricky maneuvers of condo conversions and the like to mess with my numbers. Last year at this time. we had 7,292 single family home pending in our market place. This year, we have 15,563. That increase is well over 100%, actually around 113%. FOLKS THE MARKET IS RECOVERING. I can't believe how slow the press and Wall Street are to actual numbers.
The article below is from WWW.CNBC.COM
Pending sales of existing U.S. homes rose in March for a second straight month, a private survey showed on Monday, supporting views the housing market was close to hitting a bottom.
Meanwhile, US construction spending rose a slim 0.3 percent in March in the first increase since September, according to government data that beat analysts' forecasts of a 1.5 percent drop.
AP
--------------------------------------------------------------------------------
The National Association of Realtors Pending Home Sales Index, based on contracts signed in March, rose 3.2 percent to 84.6. February's pending home sales index was slightly revised down to 82.0 from 82.1.
Compared to the same period a year ago, pending home sales rose 1.1 percent.
Economists polled by Reuters had forecast pending home sales to be flat in March.
Read the rest of the storey: http://www.cnbc.com/id/30559126
Just my opinion...Jeff Cameron
Nationally, the news rocking Wall Street yesterday was that Pending Home Sales Index had risen 3.2%, greater than expected and is 1.1% higher than this time last year. I am not sure what the rest of the country is experiencing, but the reports from agents were good. Here in the Phoenix metro area, I have been tracking the market in a spread sheet since 2005. I track only single family homes, don't like the tricky maneuvers of condo conversions and the like to mess with my numbers. Last year at this time. we had 7,292 single family home pending in our market place. This year, we have 15,563. That increase is well over 100%, actually around 113%. FOLKS THE MARKET IS RECOVERING. I can't believe how slow the press and Wall Street are to actual numbers.
The article below is from WWW.CNBC.COM
Pending sales of existing U.S. homes rose in March for a second straight month, a private survey showed on Monday, supporting views the housing market was close to hitting a bottom.
Meanwhile, US construction spending rose a slim 0.3 percent in March in the first increase since September, according to government data that beat analysts' forecasts of a 1.5 percent drop.
AP
--------------------------------------------------------------------------------
The National Association of Realtors Pending Home Sales Index, based on contracts signed in March, rose 3.2 percent to 84.6. February's pending home sales index was slightly revised down to 82.0 from 82.1.
Compared to the same period a year ago, pending home sales rose 1.1 percent.
Economists polled by Reuters had forecast pending home sales to be flat in March.
Read the rest of the storey: http://www.cnbc.com/id/30559126
Just my opinion...Jeff Cameron
Monday, May 4, 2009
Saturday, May 2, 2009
SHOCKING BANK RESPONSE
Well we got word back from one of the banks we are working to approve a Short Sale in McDowell Mountain Ranch in Scottsdale and the answer was a big FAT NO! I was shocked! In this real estate market every sold Short Sale means one less Foreclosure. With the condition of this home is also means $20,000 pumped into our economy. Plus this buyer is paying cash. That pays off a loan with cash and puts more money into the system.
Some of you may wonder why I am so shocked the bank is rejecting our Short Sale, the why is because almost all other Short Sales we have dealt with have eventually been approved. As a matter of fact, this Short Sale was approved with a different buyer. But as we see happen so many times, by the time the short sale was approved, the buyer bought another home. The buyer told us all the way up to the week before approval they were still waiting, in reality they had already bought another home.
The disturbing part of this is WHY?????? Why was the Short Sale rejected by the bank, when property values are dropping in the Scottsdale real estate market? You are going to be shocked by the answer. One would think, maybe not a good enough deal. No, for the condition the renter left the home in, it was a market value sale. The reason was, the bank said and I quote, "this is not enough pain for the seller." You see our first loss mitigator was gone and a new one was assigned to represent the bank. The new one is pathetic. This bank is owned by, or at least funded by, the US government right now.
Isn't this suppose to be about dollars and sense?
Is this about revenge?????
Truly, the seller does not care about their credit. Their credit is already trashed and at their ages there is no desire buy homes. The seller wanted to do the right thing and try to get the home sold now and not run the market lower with another foreclosure. The seller is retired and has lost a fortune. We have been working on this since the beginning of DECEMBER.
WHO IS REALLY TO BLAME FOR THIS MESS????? This is not a hard question.
1. The Public. They refinanced out all their equity. They bought homes they could not afford. "Impostor" investors bought 10 homes with no ability to repay. They got 100% financing. They did stated income or "liar loans." They thought things would never go down. They did most of this because their loan officer told them to or that it was OK.
2. Wall Street. They bundled poor quality loans with A quality loans and claimed they were all A quality. This drove the demand for low quality loans and made them easier and with lower interest rates. Folks, this was FRAUD. Most of these guys made their fortune and have moved on.
3. The Mortgage Companies. First of all, let's get this straight, the banks new what they were doing and what would happen! Sales managers hired sales persons and told them it was OK to put everyone in a 100% loan using stated income. They make much more money on these types of loans. They sold people with $50,000 a year income or even no income 10 houses. They were the financial advisers to the public and "put them into these loans." The reality is most borrowers didn't even know what they signed.
Many have ripped on the public for buying these liar loans, stated income loans, sub prime loans, interest only loans, adjustable rate loans and what ever else is out there. Do average Americans read the one inch prospectus for each mutual fund their retirement is invested in? Do average Americans read their life, auto, health and/or disability insurance documents?
I believe the answer is NO, most Americans don't read any of that. They rely on the financial professional, as did borrowers in getting these loans.
Let's get back to my borrowers on the short sale. They are investors, and believe me we are doing plenty of short sales for investors. They put 20% down on this purchase, $200,000. There is no recourse by the bank if a foreclosure occurs. Yes, they own 10 other homes, but most are upside down. They are actually paying to keep them a float and not go into foreclosure. They sold this home because the tenant trashed the house and they did not have the $10,000 to invest into it to get it rehabbed for rental.
What makes them be treated differently than the guy that bought 10 homes with NO, I mean ZERO, money down. Then when the market changed, this example investor kept all the rent and finally at last sells them in short sales. Only to claim bankruptcy after this is all over. I will tell you the difference, this guys(example investor) greed is what caused the issue. This type of person was a big part of why we are in this mess today. Hey, most of these guys made $500k on the first round. Lived big, spent it all and then lost in the second round.
Why would a bank penalize the smarter investor? The one that actually put money into the investment. The one that is trying to do the "right thing." And penalizing in a way that will not hurt them, it will only hurt the bank. The bank will loose $20 to $50K through this action. The bank should be more concerned with THE US TAX PAYERS MONEY THEY ARE WAISTING AND LESS WITH INCREASING THE LEVEL OF HURT FOR THESE PEOPLE!
Just my opinion...Jeff Cameron
Some of you may wonder why I am so shocked the bank is rejecting our Short Sale, the why is because almost all other Short Sales we have dealt with have eventually been approved. As a matter of fact, this Short Sale was approved with a different buyer. But as we see happen so many times, by the time the short sale was approved, the buyer bought another home. The buyer told us all the way up to the week before approval they were still waiting, in reality they had already bought another home.
The disturbing part of this is WHY?????? Why was the Short Sale rejected by the bank, when property values are dropping in the Scottsdale real estate market? You are going to be shocked by the answer. One would think, maybe not a good enough deal. No, for the condition the renter left the home in, it was a market value sale. The reason was, the bank said and I quote, "this is not enough pain for the seller." You see our first loss mitigator was gone and a new one was assigned to represent the bank. The new one is pathetic. This bank is owned by, or at least funded by, the US government right now.
Isn't this suppose to be about dollars and sense?
Is this about revenge?????
Truly, the seller does not care about their credit. Their credit is already trashed and at their ages there is no desire buy homes. The seller wanted to do the right thing and try to get the home sold now and not run the market lower with another foreclosure. The seller is retired and has lost a fortune. We have been working on this since the beginning of DECEMBER.
WHO IS REALLY TO BLAME FOR THIS MESS????? This is not a hard question.
1. The Public. They refinanced out all their equity. They bought homes they could not afford. "Impostor" investors bought 10 homes with no ability to repay. They got 100% financing. They did stated income or "liar loans." They thought things would never go down. They did most of this because their loan officer told them to or that it was OK.
2. Wall Street. They bundled poor quality loans with A quality loans and claimed they were all A quality. This drove the demand for low quality loans and made them easier and with lower interest rates. Folks, this was FRAUD. Most of these guys made their fortune and have moved on.
3. The Mortgage Companies. First of all, let's get this straight, the banks new what they were doing and what would happen! Sales managers hired sales persons and told them it was OK to put everyone in a 100% loan using stated income. They make much more money on these types of loans. They sold people with $50,000 a year income or even no income 10 houses. They were the financial advisers to the public and "put them into these loans." The reality is most borrowers didn't even know what they signed.
Many have ripped on the public for buying these liar loans, stated income loans, sub prime loans, interest only loans, adjustable rate loans and what ever else is out there. Do average Americans read the one inch prospectus for each mutual fund their retirement is invested in? Do average Americans read their life, auto, health and/or disability insurance documents?
I believe the answer is NO, most Americans don't read any of that. They rely on the financial professional, as did borrowers in getting these loans.
Let's get back to my borrowers on the short sale. They are investors, and believe me we are doing plenty of short sales for investors. They put 20% down on this purchase, $200,000. There is no recourse by the bank if a foreclosure occurs. Yes, they own 10 other homes, but most are upside down. They are actually paying to keep them a float and not go into foreclosure. They sold this home because the tenant trashed the house and they did not have the $10,000 to invest into it to get it rehabbed for rental.
What makes them be treated differently than the guy that bought 10 homes with NO, I mean ZERO, money down. Then when the market changed, this example investor kept all the rent and finally at last sells them in short sales. Only to claim bankruptcy after this is all over. I will tell you the difference, this guys(example investor) greed is what caused the issue. This type of person was a big part of why we are in this mess today. Hey, most of these guys made $500k on the first round. Lived big, spent it all and then lost in the second round.
Why would a bank penalize the smarter investor? The one that actually put money into the investment. The one that is trying to do the "right thing." And penalizing in a way that will not hurt them, it will only hurt the bank. The bank will loose $20 to $50K through this action. The bank should be more concerned with THE US TAX PAYERS MONEY THEY ARE WAISTING AND LESS WITH INCREASING THE LEVEL OF HURT FOR THESE PEOPLE!
Just my opinion...Jeff Cameron
Friday, May 1, 2009
Looking for Good News for the AZ Real Estate Market?
Hello,
it is May 1st and the April numbers are out! As I have been reporting over the past weeks, sales have taken off! Below you can view several charts detailing and affirming this action in our real estate Market. Let's look at a couple of facts, shall we???? Single Family Home closings in April are up 84.9% compared to last year, how is that for a good stat? Why do news reporters not report good news? Sales rocketed in 2005, when comparing April 2009 closings to April 2005, we are only 200 lower this year. We beat 2004 April closings this year. I suspect we will be beating the 2005 numbers real quick.
The chart above shows single family home closings for the first 4 months of each of the last 9 years. 2009 is on FIRE!
Here is another look at single family home closings over the past 9 years.
This chart shows months of Inventory of available homes compared to Pending homes. You can see that we have returned to levels of 2005.
This chart shows the actual number of single family homes on the market. It goes back 3 years and we are now at lower levels than those of May 1, 2006!
Is it market turn around? What is happening in the market? Are we at a bottom? These are difficult questions to be precise with and usually can only answer with definitiveness several months after they have occurred. But let's use some common sense here, THE MARKET IS TURNING, BOTTOMING RECOVERING!
it is May 1st and the April numbers are out! As I have been reporting over the past weeks, sales have taken off! Below you can view several charts detailing and affirming this action in our real estate Market. Let's look at a couple of facts, shall we???? Single Family Home closings in April are up 84.9% compared to last year, how is that for a good stat? Why do news reporters not report good news? Sales rocketed in 2005, when comparing April 2009 closings to April 2005, we are only 200 lower this year. We beat 2004 April closings this year. I suspect we will be beating the 2005 numbers real quick.
The chart above shows single family home closings for the first 4 months of each of the last 9 years. 2009 is on FIRE!
Here is another look at single family home closings over the past 9 years.
This chart shows months of Inventory of available homes compared to Pending homes. You can see that we have returned to levels of 2005.
This chart shows the actual number of single family homes on the market. It goes back 3 years and we are now at lower levels than those of May 1, 2006!
Is it market turn around? What is happening in the market? Are we at a bottom? These are difficult questions to be precise with and usually can only answer with definitiveness several months after they have occurred. But let's use some common sense here, THE MARKET IS TURNING, BOTTOMING RECOVERING!
Tuesday, April 28, 2009
Thursday, April 16, 2009
Another Wonderful Home in McDowell Mountain Ranch Just Listed By The Cameron Team!
A truly wonderful 3064 SQ FT Estate with all the right touches in McDowell Mountain Ranch. Diablo Travertine and wood style flooring throughout first level with carpet in the family room. Drywall niches in family room are perfect for big screen tv and art objects. Plantation shutters in downstairs rooms. Kitchen has ample cabinetry, black appliances and Sierra Series black corian counters. Upstairs has cherry finished wood floors with a balcony revealing fabulous view of the golf course, city lights, and mountains. Home has a den/loft that is perfect for a playroom or an office. The back yard is an entertainers dream with PebbleTech play pool, cozy built-in Kiva fireplace, and outdoor kitchen with built-in BBQ. Also, garage has built-in Cabinets.
Monday, April 13, 2009
METRO PHOENIX HOME INVENTORIES CONTINUE THEIR FALL
Yes, the good news keeps coming. Inventory of single family homes here in Metro Phoenix continue to decline and a surprising rate. When we crossed from March to April I expected a good decline in inventory, but was wondering to the extent. You see Realtors typically set their listings to expire at the end of the month with retail sellers(retail in non-bank owned or short sale). They do this to squeeze a few extra days in their listing agreement. An agent lists April 10th on a 6 month contract, and they typically will have it expire October 31st, thus getting 6.5 month agreement. Banks, on the other hand, they give 3 to 4 months from list date exactly. So, that made me wonder how great the fall off in inventory would actually be crossing from March to April. My tracking is cut off at the end of the day on Mondays, March ended on the 30th. Inventory fell by 1,156. I thought, well we caught the expiring properties this week. The next week inventory fell by 1,714. I thought, WOW, the majority came in on the 31st. But then the next week, last week, inventory fell by 1,156 as of now 7 am on Monday. My tracking cuts off at the end of today, so that is not the full extent. This is fantastic for our market. Demand is out stripping Supply by great lengths!!!!
Inventory Jan 1, 2009 43,000
Inventory Feb 1, 2009 42,056
Inventory March 1, 2009 39,900
Inventory April 1, 2009 37,250
Inventory Today, April 13, 2009 34,883
Based on closings over the past 4 weeks, we now have 5.2 months supply of single family homes for sale in Metro Phoenix. This is the point were we transition to a seller's market. Let's see what happens!
Inventory Jan 1, 2009 43,000
Inventory Feb 1, 2009 42,056
Inventory March 1, 2009 39,900
Inventory April 1, 2009 37,250
Inventory Today, April 13, 2009 34,883
Based on closings over the past 4 weeks, we now have 5.2 months supply of single family homes for sale in Metro Phoenix. This is the point were we transition to a seller's market. Let's see what happens!
Thursday, April 9, 2009
IS THE END OF THE FINANCIAL CRISIS NEAR??
Wells Fargo is rocking Wall Street today, see article below. Are these the first signs of the recovery? No, the first signs were the recovery in the housing market. We began to bottom out when sales hit their low levels of only 700 per week in mid 2007. That was followed by price declines throughout 2008. In the beginning of 2009, sales regained their normal rate at about 1,500 per week. But as the market started to shift positively sales have soared! For the last 8 weeks, enough to make more than a trend, home sales have jumped to averages of over 2,000 sales per week. Over the past 2 weeks we have experienced 2,400 per week. At the same time, inventory levels have crashed, well relatively speaking. Inventories of single family homes are down 10% over the past 3 weeks and are down 17.6% YTD. These are the signs of a recovery in housing.
So, how did Wells Fargo turn around and make a profit???? I believe one of the biggest reasons is that they are paying, I don't even know, 1.5% on savings for a blended cost. Then lending that money at 5%. That is a huge spread! It seemed logical that if the Fed kept rates artificially low, it was only a matter of time where banks would start to profit from that. Also, since they have written down most of the "toxic" assets to zero, now when they sell them there is a profit there too.
Let's keep it rolling, this shift we experienced over the past 4 years was very difficult on me and I am ready to be a happy survivor!
So, how did Wells Fargo turn around and make a profit???? I believe one of the biggest reasons is that they are paying, I don't even know, 1.5% on savings for a blended cost. Then lending that money at 5%. That is a huge spread! It seemed logical that if the Fed kept rates artificially low, it was only a matter of time where banks would start to profit from that. Also, since they have written down most of the "toxic" assets to zero, now when they sell them there is a profit there too.
Let's keep it rolling, this shift we experienced over the past 4 years was very difficult on me and I am ready to be a happy survivor!
Every major U.S. bank is rallying like mad on the heels of Wells Fmade a profit in the first quarter. WFC shares have spiked up 23 percent to $18.50 in early trading.
The financial firm said it expects to report record net income of approximately $3 billion for first quarter 2009, or approximately 55 cents per common share after preferred dividends, including $372 million in dividends paid to U.S. taxpayers on the U.S. Treasury's Capital Purchase argo (WFC) reporting that it Program investment.
The word "record" must floor investors based on the perception that American banks still face substantial write-offs from toxic assets, consumer loans, and commercial real estate.
Wells Fargo predicted that it would post total revenue of $20 billion, up an estimated 16 percent, driven by the core businesses it owned before buying Wachovia. Results at Wachovia were better than expected.
If one or two other large money center banks post strong results, there will be a temptation to think that the worst of the financial crisis is over.
Douglas A. McIntyre is an editor at 24/7 Wall St.
Don't forget, see foreclosure homes before most agents even know they are there: www.ArizonaBankDeals.com
Monday, April 6, 2009
Another GREAT BANK-OWNED Home Listed By The Cameron Team
This 3 bed 2 bath home is clean and well maintained. Home has Living and Family Room. Kitchen is bright and open with gas stove, island, pantry, and breakfast area. Carpet in all the right places, wood blind, ceiling fans with lights. Private Backyard with covered patio, and cabinets in garage. Your buyer will LOVE this home.
Thursday, April 2, 2009
Monthy Real Estate Update!
Click the Arrow below and see my monthly real estate update. Some of the facts and data are below in graphs and dialog.
Let me know if you have any questions.
Click on any graph to make it bigger.
Home closings soared in March. At the graph was created 6,755 single family home closings were recorded in March. That number has been adjusted up to 6,851 as of April 3rd. This represents the 3rd best March ever for single family home closings. At the rate homes are selling we should close over 8,000 in April. When comparing to May of 2006, a time when the market was in good condition, we now have about the same amount of homes on the market as we did in May of 2006, but we are selling twice as many homes. Over 2,400 single family homes sold last week, compared to about 1,200 in May of 2006.
Again, click on the graph to make it larger and easier to read.
Click on the graph to make it larger and easier to read.
Below is a graph of the inventory levels of single family homes over the past 3 years. You can see, supply is contracting. The fact that demand is increasing while supply is decreasing, these are the ingredients for a market recovery. Remember 70% of the homes selling today are in need of some level of rehab. This should start to bring more demand to other goods and services for home improvement, appliances and landscaping.
Remember to see new listings of foreclosed homes before most Brokers have a chance to see them, visit: www.ArizonaBankDeals.com
Jeff Cameron
Tuesday, March 31, 2009
PLEASE ALL JOIN ME IN CONGRATULATING JEFF!
CONGRATULATIONS JEFF!!!
Jeff was named #12 in the Top 20 of SW Region for Keller Williams Realty International! Please help me to congratulate him on his hard work, patience, and persistence!
Monday, March 30, 2009
Great Home in McDowell Mountain Ranch Just Reduced in Price AND Approved by Countrywide!
GET OFFER IN ASAP!!!! ***3/30 Approved with Countrywide Mortgage at 565,000. GET OFFER IN ASAP!!*** This Home is located in Sienna Canyon @ McDowell Mountain Ranch, known for large lots with a view. This home is located on a cul-de-sac street and backs to preserve, offering mountain & city light views. Enjoy the resort like backyard with fenced & heated pebbletech pool & spa, built in BBQ, grassy play area and huge covered patio. Inside find soaring vaulted ceilings and a gourmet kitchen with granite counters, cherry cabinets built in fridge, gas cook top, double ovens & huge island over looking family room with gas fireplace. Master plus den & 2 full baths down, upstairs find 3 more beds, bonus/play room, large loft, deck over looking valley. Your client will love this home, lot, yard & community.
GREAT New Listing In Mesa Brought To You By The CameronTeam!!!
WOW!!! This amazing custom estate is truly one-of-a-kind, and is located on an acre estate in gated community with magnificent mountain views. Features include; upgraded custom cabinets, granite countertops, top of the line appliances & gas range, travertine flooring throughout with detailed faux painting and stone work throughout the home. Every bedroom has its on private balcony and bathroom! HUGE private patio. A great private location close to the 202 and 60. This one is definitely a must see!All offers are subject to IndyMac Banks Senior management approval and any offers or counter offers by Indymac bank are not binding unless the entire agreement is ratified by all parties. Any cash offers, must include proof of funds & buyer agrees to pay $75 doc fee at closing. No SPDS or CLUE.
Wednesday, March 25, 2009
Thursday, March 19, 2009
PHOENIX NEIGHBORHOOD STABILIZATION PROGRAM
DO YOU QUALIFY FOR MONEY FROM THE CITY OF PHOENIX TO PURCHASE A HOME???? There are a lot of stimulus programs out there to assist buyers today. Below is information on Phoenix's plan. Let me know if you have questions. There is also Bond money available, I posted that information on a previous post.
Phoenix Neighborhood Stabilization Program (NSP)
The City of Phoenix will receive $39.4 million in Neighborhood Stabilization Program Funds (NSP) resulting from the Housing and Economic Recovery Act of 2008 (HERA). The funding will be used to implement a Neighborhood Stabilization Program to address abandoned and foreclosed properties through acquisition, rehabilitation, demolition, redevelopment and financial incentives.
The proposed Phoenix Neighborhood Stabilization Program, Substantial Amendment to the US Department of Housing and Urban Development Consolidated Plan and 2008 Annual Action Plan is available through the links below.
http://phoenix.gov/nsd/nspa.html
Phoenix Neighborhood Stabilization Program (NSP)
The City of Phoenix will receive $39.4 million in Neighborhood Stabilization Program Funds (NSP) resulting from the Housing and Economic Recovery Act of 2008 (HERA). The funding will be used to implement a Neighborhood Stabilization Program to address abandoned and foreclosed properties through acquisition, rehabilitation, demolition, redevelopment and financial incentives.
The proposed Phoenix Neighborhood Stabilization Program, Substantial Amendment to the US Department of Housing and Urban Development Consolidated Plan and 2008 Annual Action Plan is available through the links below.
http://phoenix.gov/nsd/nspa.html
Wednesday, March 18, 2009
The Cameron Team Just Listed A Great Home On Tatum & Bell!!
Beautiful home well cared for located on a hard to find cul de sac lot! Priced only $95K less then the same floor plan a few doors down. Realistic seller priced for today's market. Nice yard with several fruit trees, full length covered patio and easy to care for desert landscaping. Recently the owner has replaced the water heater, quiet garage door opener and faucets in both bathrooms/kitchen have been replaced.
Tuesday, March 17, 2009
HOME CONSTRUCTION JUMPS 22%
This is just the beginning, and let me be clear this is not over. It will still take a while for the economy to turn around. However, this started in housing in 2006 as inventory swelled. It took till after the election for any one to admit there was a recession. Now, with home sales double a year ago and at ALL TIME HIGHS here in the metro Phoenix area, it is the beginning of the end of the recession!
Do you want to wait 2 or 3 years to see homes prices jump before buying? If you can afford to buy a home, now is the time to take advantage of this market.
www.ArizonaBankDeals.com
Just my opinion...Jeff Cameron
Do you want to wait 2 or 3 years to see homes prices jump before buying? If you can afford to buy a home, now is the time to take advantage of this market.
www.ArizonaBankDeals.com
Just my opinion...Jeff Cameron
METRO PHOENIX WEEKLY SALES RESULTS MARCH 17, 2009
Good Morning Arizona, sales continued at a brisk rate last week. We did not beat the shocking number of 2,034 that happened 2 weeks ago, but a strong showing with 1,901 sales. Remember those are Single Family Homes, SFH, that went under contract last week. That is an incredible number and now that we have posted 4 straight weeks with outstanding sales, it is time to declare a trend and not an outlier. Let's get to the rest of the numbers. Available SFH dropped to 39,339 and Pending hit a record high of 11, 418. For the closings year to date, we have 11,699.
As I stated before, these high sales are no big deal if they are a one hit wonder. However, now that this trend is staying consistent we can begin to forecast sales for the year. Based on the closings for January and February, which does not include these huge numbers of the past 4 weeks, we are on track to close 70,000 single family homes. That would be our 3rd best year for SFH home sales to 2004 and 2005. This housing recovery is underway. It is time to be in on it and take advantage of these low prices!
Remember, see those foreclosure homes before most brokers at www.ArizonaBankDeals.com
and
for those in trouble by this market, know your rights www.NoForeclosureAZ.com
Have a wonderful Day!
Just my opinion...Jeff Cameron
As I stated before, these high sales are no big deal if they are a one hit wonder. However, now that this trend is staying consistent we can begin to forecast sales for the year. Based on the closings for January and February, which does not include these huge numbers of the past 4 weeks, we are on track to close 70,000 single family homes. That would be our 3rd best year for SFH home sales to 2004 and 2005. This housing recovery is underway. It is time to be in on it and take advantage of these low prices!
Remember, see those foreclosure homes before most brokers at www.ArizonaBankDeals.com
and
for those in trouble by this market, know your rights www.NoForeclosureAZ.com
Have a wonderful Day!
Just my opinion...Jeff Cameron
LOAN MODIFICATION PROGRAM COUNTRYWIDE (BANK OF AMERICA)
When in trouble with your mortgage payments the first avenue one should explore is Loan Modification. You can get a full package on Loan Modification at www.NoForeclosureAz.com Below is information about Countrywide Loan Modification programs. Please review and I hope you find this helpful!
Jeff Cameron
Countrywide Financial (Bank of America) Program
What is the Countrywide Financial (Bank of America) Program? The Homeownership Retention Program for Countrywide Customers Program will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principle reductions for nearly 400,000 Countrywide customers nationwide.
When does it Begin? The program begins Dec. 1, 2008, and has no end date specified.
Who is eligible? Borrowers eligible for loan modifications under this program must have received a qualifying subprime mortgage or a pay-option adjustable rate mortgage (ARM) prior to Dec. 31, 2007, and the property must be a one- to four-unit owner-occupied residential property. In addition, certain other requirements are set out in the program:
The borrower is 60 days or more delinquent, and the current loan-to-value ratio is 75 percent or greater;
The borrower is current today but becomes 60 days or more delinquent at any time prior to June 30, 2012, and the loan-to-value ratio at the time of the modification is 75 percent or greater;
The borrower has a subprime hybrid ARM and the borrower is current but reasonably likely to become 60 days or more delinquent as a consequence of a rate reset, and the loan-to-value ratio at the time of the modification is 75 percent or greater;
The borrower has a pay-option ARM and the borrower is current but reasonably likely to become 60 days or more delinquent as a consequence of a rate reset or payment recast based on negative amortization, and the loan-to-value ratio at the time of the modification is 75 percent or greater.
Modifications would be designed to achieve sustainable payments at a 34 percent debt-to-income (DTI) ratio of principal, interest, taxes and insurance.
In addition, customers may be eligible for the early payment default benefit of this program if: The customer has a Countrywide-originated first lien loan; the loan was funded on or prior to Dec. 31, 2007; the customer's primary residence is the property that secures the loan; the customer has made three or fewer payments over the life of the loan (the borrower's state may expand eligibility); and the customer has either lost his home to foreclosure or is at least 120 days in arrears on mortgage payments.
Who should I contact? Countrywide will begin its proactive outreach to eligible borrowers on Dec. 1, 2008. You can reach the Homeownership Retention Division at (800) 669-6650.
What costs do I have to pay? Countrywide will waive late/delinquency fees for missed payments when modifying loans and will not charge modification fees to borrowers in the participating states.
When possible, Countrywide will waive prepayment penalties in connection with any workout or refinance, whether or not the new loan is originated with Countrywide.
What options does the Homeownership Retention Program offer? Countrywide will first offer eligible borrowers an FHA refinance under the HOPE for Homeowners Program. If not eligible for that program, Countrywide will offer these specific programs based on product type.
Subprime 2-, 3- 5-, 7- and 10-Year Hybrid ARM borrowers will receive an unsolicited extension/restoration of the introductory rate for five years and an invitation to contact Countrywide for additional relief if affordability concerns persist. Borrowers who cannot afford the introductory rate will be considered on a streamlined basis for a five-year interest rate reduction to as low as 3.5 percent (based on the affordability equation) and a conversion to a fixed-rate mortgage at the end of five years.
Pay-option ARM borrowers accepting a streamlined loan modification option will have the negative amortization feature eliminated from their loan. The mortgage interest rate will be reduced to as low as 2.5 percent, and the loan will be converted into either a fixed-rate mortgage or a ten-year interest-only loan. For single property owners who currently have no equity in their homes, Countrywide will write-down the principal balance to as low as 95 percent of the current value of the property to restore an equity position.
Subprime Fixed-Rate borrowers will receive a streamlined loan modification, by reducing the mortgage interest rate to as low as 2.5 percent and converting the loan into a fixed-rate or 10-year interest only loan with affordable step rate increases and lifetime cap.
Foreclosure Relief Program: Countrywide will allocate up to $150 million nationally under a foreclosure relief program to provide relief for borrowers whose loans were originated directly by Countrywide (or through brokers) with owner-occupied properties who have either experienced a foreclosure sale or are 120 days or more delinquent as of the date of this agreement. These borrowers will be eligible for the payment if they made three or fewer payments over the life of the loan (or meet more inclusive criteria determined by each state). The funds will be allocated for each state through a pro-rata formula based on the number of eligible borrowers with a Countrywide-originated first mortgage.
How can I learn more about the program and start the application process?
The Homeownership Retention Program is not available until Dec. 1, 2008. Please visit the Countrywide Financial Web site for more information at http://my.countrywide.com/media/FinancialAssistance1.html
Jeff Cameron
Countrywide Financial (Bank of America) Program
What is the Countrywide Financial (Bank of America) Program? The Homeownership Retention Program for Countrywide Customers Program will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principle reductions for nearly 400,000 Countrywide customers nationwide.
When does it Begin? The program begins Dec. 1, 2008, and has no end date specified.
Who is eligible? Borrowers eligible for loan modifications under this program must have received a qualifying subprime mortgage or a pay-option adjustable rate mortgage (ARM) prior to Dec. 31, 2007, and the property must be a one- to four-unit owner-occupied residential property. In addition, certain other requirements are set out in the program:
The borrower is 60 days or more delinquent, and the current loan-to-value ratio is 75 percent or greater;
The borrower is current today but becomes 60 days or more delinquent at any time prior to June 30, 2012, and the loan-to-value ratio at the time of the modification is 75 percent or greater;
The borrower has a subprime hybrid ARM and the borrower is current but reasonably likely to become 60 days or more delinquent as a consequence of a rate reset, and the loan-to-value ratio at the time of the modification is 75 percent or greater;
The borrower has a pay-option ARM and the borrower is current but reasonably likely to become 60 days or more delinquent as a consequence of a rate reset or payment recast based on negative amortization, and the loan-to-value ratio at the time of the modification is 75 percent or greater.
Modifications would be designed to achieve sustainable payments at a 34 percent debt-to-income (DTI) ratio of principal, interest, taxes and insurance.
In addition, customers may be eligible for the early payment default benefit of this program if: The customer has a Countrywide-originated first lien loan; the loan was funded on or prior to Dec. 31, 2007; the customer's primary residence is the property that secures the loan; the customer has made three or fewer payments over the life of the loan (the borrower's state may expand eligibility); and the customer has either lost his home to foreclosure or is at least 120 days in arrears on mortgage payments.
Who should I contact? Countrywide will begin its proactive outreach to eligible borrowers on Dec. 1, 2008. You can reach the Homeownership Retention Division at (800) 669-6650.
What costs do I have to pay? Countrywide will waive late/delinquency fees for missed payments when modifying loans and will not charge modification fees to borrowers in the participating states.
When possible, Countrywide will waive prepayment penalties in connection with any workout or refinance, whether or not the new loan is originated with Countrywide.
What options does the Homeownership Retention Program offer? Countrywide will first offer eligible borrowers an FHA refinance under the HOPE for Homeowners Program. If not eligible for that program, Countrywide will offer these specific programs based on product type.
Subprime 2-, 3- 5-, 7- and 10-Year Hybrid ARM borrowers will receive an unsolicited extension/restoration of the introductory rate for five years and an invitation to contact Countrywide for additional relief if affordability concerns persist. Borrowers who cannot afford the introductory rate will be considered on a streamlined basis for a five-year interest rate reduction to as low as 3.5 percent (based on the affordability equation) and a conversion to a fixed-rate mortgage at the end of five years.
Pay-option ARM borrowers accepting a streamlined loan modification option will have the negative amortization feature eliminated from their loan. The mortgage interest rate will be reduced to as low as 2.5 percent, and the loan will be converted into either a fixed-rate mortgage or a ten-year interest-only loan. For single property owners who currently have no equity in their homes, Countrywide will write-down the principal balance to as low as 95 percent of the current value of the property to restore an equity position.
Subprime Fixed-Rate borrowers will receive a streamlined loan modification, by reducing the mortgage interest rate to as low as 2.5 percent and converting the loan into a fixed-rate or 10-year interest only loan with affordable step rate increases and lifetime cap.
Foreclosure Relief Program: Countrywide will allocate up to $150 million nationally under a foreclosure relief program to provide relief for borrowers whose loans were originated directly by Countrywide (or through brokers) with owner-occupied properties who have either experienced a foreclosure sale or are 120 days or more delinquent as of the date of this agreement. These borrowers will be eligible for the payment if they made three or fewer payments over the life of the loan (or meet more inclusive criteria determined by each state). The funds will be allocated for each state through a pro-rata formula based on the number of eligible borrowers with a Countrywide-originated first mortgage.
How can I learn more about the program and start the application process?
The Homeownership Retention Program is not available until Dec. 1, 2008. Please visit the Countrywide Financial Web site for more information at http://my.countrywide.com/media/FinancialAssistance1.html
Tuesday, March 10, 2009
Friday, March 6, 2009
ANOTHER SOURCE FOR THE MARKET STATS HERE IN METRO PHOENIX
A friend of mine shared these stats from another broker in town. I wanted to post them to show a second source for the market activity. This is the same facts, res-stated showing the market is shifting from a Strong Buyers market towards neutral. As this occurs, price declines will stop and eventually price appreciation will begin again! Thank you to Karl Stauffer for his weekly market update.
Just my opinion...Jeff Cameron
Karl Stauffer's Weekly Market Update
Weekly Inventory Level Comparison
©2009 Karl Stauffer
As of Friday, February 27th, 2009.
We are starting to see some dramatic changes in our market. Available supply of Single Family Detached homes dropped below 40,000 this week to 39,828. That, coupled with 5907 closings in the previous month left the market supply at 6 3/4 months.
The last time we were below 40,000 SFD for sale was March 2007.
The last time we had over 5900 Closes was May 2007.
The last time we had over 10,000 Pendings was June 2005.
For those of you that read the papers, I will restate the above information in a more dramatic current headline format;
AVAILABLE SUPPLY OF HOMES PLUMMETS AS CLOSING RATE SOARS!
This is how the media would report it if they were interested in paying attention to some positive housing market news.
Phoenix continues to be the best market in the Vally right now at 5 1/4 months followed by the West Valley and the SE Valley at 6 and 6 1/2 months respectively.
The higher end continues to lag due to a lack of realistic financing above conforming amounts of $417,000.
The comparison of current active listing change is based on the previous week's inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.Phoenix is searched as a single entity. The West Valley is Surprise, Peoria, Sun City, Glendale, El Mirage, Youngtown, Litchfield Park, Avondale, Goodyear, Buckeye, and Tolleson. NE Valley is Scottsdale, Paradise Valley, Fountain Hills, Cave Creek, and Carefree. SE Valley is Tempe, Mesa, Gilbert, Apache Junction, Queen Creek, and Chandler.
MLS Statistics
Breakdown by Area
Overall Market. Inventories are down 2% from last week. Total of 39828 active listings with 5907 closings in the last month. About an 6 3/4 month supply.
Phoenix. Inventories are down 2% from last week. Total of 9140 active listings with 1753 closings in the last month. About a 5 1/4 month supply.
West Valley. Inventories are down 3% from last week. Total of 10064 active listings with 1675 closings in the last month. About a 6 month supply.
NE Valley.
Inventories are unchanged from last week. Total of 5728 active listings with 328 closings in the last month. About a 17 1/2 month supply.SE Valley.. Inventories are down 3% from last week. Total of 9000 active listings with 1446 closings in the last month. About a 6 1/4 month supply. Scottsdale over $1m. Inventories are unchanged from last week. Total of 1497 active listings with 34 closings in the last month. About a 44 month supply.Scottsdale under $1m. Inventories are down 1% from last week. Total of 2491 active listings with 204 closes in the last month. About a 12 1/4 month supply. ParadiseValley.. Inventories are down 1% from last week. Total of 562 active listings with 15 closes in the last month. About a 37 1/2 month supply.
I hope you find this information useful.
Sincerely,
Karl Stauffer
Designated Broker
NXT Generation Real Estate
(480) 656-4441
karl@nxtgenerationrealestate.com
Just my opinion...Jeff Cameron
Karl Stauffer's Weekly Market Update
Weekly Inventory Level Comparison
©2009 Karl Stauffer
As of Friday, February 27th, 2009.
We are starting to see some dramatic changes in our market. Available supply of Single Family Detached homes dropped below 40,000 this week to 39,828. That, coupled with 5907 closings in the previous month left the market supply at 6 3/4 months.
The last time we were below 40,000 SFD for sale was March 2007.
The last time we had over 5900 Closes was May 2007.
The last time we had over 10,000 Pendings was June 2005.
For those of you that read the papers, I will restate the above information in a more dramatic current headline format;
AVAILABLE SUPPLY OF HOMES PLUMMETS AS CLOSING RATE SOARS!
This is how the media would report it if they were interested in paying attention to some positive housing market news.
Phoenix continues to be the best market in the Vally right now at 5 1/4 months followed by the West Valley and the SE Valley at 6 and 6 1/2 months respectively.
The higher end continues to lag due to a lack of realistic financing above conforming amounts of $417,000.
The comparison of current active listing change is based on the previous week's inventory. Supply numbers are based on the number of closings in the previous month, divided in to the total number of active listings. This data is for Single Family Detached homes only and does not include patio homes, condos, or town homes.Phoenix is searched as a single entity. The West Valley is Surprise, Peoria, Sun City, Glendale, El Mirage, Youngtown, Litchfield Park, Avondale, Goodyear, Buckeye, and Tolleson. NE Valley is Scottsdale, Paradise Valley, Fountain Hills, Cave Creek, and Carefree. SE Valley is Tempe, Mesa, Gilbert, Apache Junction, Queen Creek, and Chandler.
MLS Statistics
Breakdown by Area
Overall Market. Inventories are down 2% from last week. Total of 39828 active listings with 5907 closings in the last month. About an 6 3/4 month supply.
Phoenix. Inventories are down 2% from last week. Total of 9140 active listings with 1753 closings in the last month. About a 5 1/4 month supply.
West Valley. Inventories are down 3% from last week. Total of 10064 active listings with 1675 closings in the last month. About a 6 month supply.
NE Valley.
Inventories are unchanged from last week. Total of 5728 active listings with 328 closings in the last month. About a 17 1/2 month supply.SE Valley.. Inventories are down 3% from last week. Total of 9000 active listings with 1446 closings in the last month. About a 6 1/4 month supply. Scottsdale over $1m. Inventories are unchanged from last week. Total of 1497 active listings with 34 closings in the last month. About a 44 month supply.Scottsdale under $1m. Inventories are down 1% from last week. Total of 2491 active listings with 204 closes in the last month. About a 12 1/4 month supply. ParadiseValley.. Inventories are down 1% from last week. Total of 562 active listings with 15 closes in the last month. About a 37 1/2 month supply.
I hope you find this information useful.
Sincerely,
Karl Stauffer
Designated Broker
NXT Generation Real Estate
(480) 656-4441
karl@nxtgenerationrealestate.com
Thursday, March 5, 2009
Arizona Housing Finance Authoirty- Down Payment Assistance Program!
Down Payment Assistance Program
The major stumbling block for many first-time homebuyers is the lack of sufficient funds for the downpayment and closing costs involved in the purchase of the home. The amount of assistance available under this program is adjusted based on the homebuyer's income:
Above 80% Area Median Income (AMI): up to 5% of the purchase price or appraisal whichever is less. 60-80% AMI: up to 10% of purchase price or appraisal, whichever is less, plus up to $3,000 for closing costs.~Below 60% AMI: up to 15% of purchase price or appraisal, whichever is less, plus up to $3,000 for closing costs.
~Maximum of $20,000 in combined assistance.
If the buyer is above 80% AMI, the assistance must be used with either the MRB or MCC programs. Buyers with incomes at or below 80% AMI must participate in homeownership counseling classes. These classes or meetings are free and are held at various times and in various locations around the state, excluding Maricopa and Pima Counties.
The amount of assistance is dependent on five factors:
1) Amount of household income.
2) Purchase price of the house or appraised value, whichever is less.
3) Actual closing costs on the house.
4) Amount of household savings and assets.
5) Other gifts or assistance the buyer may be receiving.
For more information on this program please visit http://www.housingaz.com/azhfa/dpap.aspx
The major stumbling block for many first-time homebuyers is the lack of sufficient funds for the downpayment and closing costs involved in the purchase of the home. The amount of assistance available under this program is adjusted based on the homebuyer's income:
Above 80% Area Median Income (AMI): up to 5% of the purchase price or appraisal whichever is less. 60-80% AMI: up to 10% of purchase price or appraisal, whichever is less, plus up to $3,000 for closing costs.~Below 60% AMI: up to 15% of purchase price or appraisal, whichever is less, plus up to $3,000 for closing costs.
~Maximum of $20,000 in combined assistance.
If the buyer is above 80% AMI, the assistance must be used with either the MRB or MCC programs. Buyers with incomes at or below 80% AMI must participate in homeownership counseling classes. These classes or meetings are free and are held at various times and in various locations around the state, excluding Maricopa and Pima Counties.
The amount of assistance is dependent on five factors:
1) Amount of household income.
2) Purchase price of the house or appraised value, whichever is less.
3) Actual closing costs on the house.
4) Amount of household savings and assets.
5) Other gifts or assistance the buyer may be receiving.
For more information on this program please visit http://www.housingaz.com/azhfa/dpap.aspx
Wednesday, March 4, 2009
NEW FIRST TIME HOME BUYER TAX CREDIT
I have had many calls and questions about the first time home buyer credit. This information was supplied by Jan Havill of Bank of America. Jan can be reached at 480.624.0392 Or janet.l.havill@bankofamerica.com
First‐time Homebuyer Tax Credit
Housing and Economic Recovery Act of 2008
First Time Home Buyer Credit
Amount of Credit
Ten percent of cost of home, not to exceed $8000
Eligible Property
Any single‐family residence (including condos, co‐ops) that will be used as a principal residence.
Benefits
For homes purchased in 2009, you must repay the credit only if the home ceases to be your main home within a 36-month period beginning on the purchase date.
Income Limit
Yes. Full amount of credit available for individuals with adjusted gross income of no more than $75,000 ($150,000 on a joint return). Phases out above those caps ($95,000 and $170,000, respectively).
First‐time Homebuyer Only
Yes. Purchaser (and purchaser’s spouse) may not have owned a principal residence in 3 years previous to purchase.
Recapture
You must repay the credit ONLY if the home ceases to be your main home within the 36-month period beginning on the purchase date.
Effective Date
Purchases in the United States after January 1, 2009
Termination
December 1, 2009
Who Cannot Claim the Credit
Refer to IRS Form 5405 (revised 2-09) for exclusions.
“2009 is the Year of Recovery…..One Home at a Time!”
14648 N. SCOTTSDALE RD. SUITE 250 SCOTTSDALE, AZ 85254 480-624-0392
janet.l.havill@bankofamerica.com
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